Omega SWOT Analysis, USP & Competitors

Posted in Lifestyle and Retail, Total Reads: 7419
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SWOT Analysis of Omega with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Omega

Parent Company

The Swatch group

Category

Watches and Accessories

Sector

Lifestyle and Retail

Tagline/ Slogan

The sign of excellence; The watch The World Has Learned To Trust Omega. The right time for life

USP

Technologically innovative watches

STP

Segment

Premium luxury watches

Target Group

High Income group men and women

Positioning

A watch brand associated with precision, accuracy and a pioneering spirit

SWOT Analysis

Strengths

1. Omega has an image of high quality substantiated with long warranty periods
2. Official time keeper of most sporting events like Olympics and Golf tournaments leading to its association as an accurate watch brand
3. Known for its Co-axial technology

4.International celebrities represent Omega as brand ambassadors.

5. Part of the Swatch group that has 28,000 employees across 50 countries with 250 boutiques’ locations across the world

Weaknesses

1. The positioning of Brand Omega is not as strong and differentiated as compared to its competitors

2. Limited market share growth due to competition

3.  Imitations of branded watches hurt brand image and sales
4. The brand is dependent highly on its brand ambassadors for its marketing and advertising campaigns

Opportunities

1.The brand can expand into new categories of watches furthering its image of being pioneers
2.Growth opportunities are high in the luxury segment in developing and emerging economies in the world

Threats

1. Competition from other brands in the having a stronger positioning than Omega
2. Fluctuating economies means limited spending on luxury items

3. Fake/cheap imitations cause damage to brand

Competition

Competitors

1. Tag Heuer
2. Cartier
3. Rolex



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