Ben Franklin Stores SWOT Analysis, USP & Competitors

Posted in Lifestyle and Retail, Total Reads: 747
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SWOT Analysis of Ben Franklin Stores with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Ben Franklin Stores

Parent Company

Promotions Unlimited

Category

Arts and Crafts

Sector

Retail

Tagline/ Slogan

When you shop with us...You shop Local!! 23 years of serving you and our community!

USP

All stores of Ben Franklin Crafts are independent.

STP

Segment

Attitude, Income

Target Group

Creative, Middle Class

Positioning

Personal shopping experience that is geared to customers

SWOT Analysis

Strengths

1. Wide Presence: At its peak the chain had 2,500 stores nationwide
2. Eminent brand name: Serving from more than 20 years
3. No corporate office: means no exact same products, hence each store meets local demands more efficiently
4. High number of services are provided like Key Cutting, Wedding Rentals, Custom Bows, etc

5. Exclusively famous for carrying creative products like florals, needlecrafts, wicker, etc.

Weaknesses

1. Bankruptcy: Company went bankrupt in 1996-97 which resulted in negative brand image
2. The chain functioned as a wholesaler till 1990, the process to convert it into a retail chain resulted in financial problem
3. Independent Stores: It shows chain’s inability to deliver goods to its franchisees

Opportunities

1. Chain can leverage its perception of creative brand by launching its own new brand in the creative product category
2. Better delivering networks can be develop to bring more standardization across chains and thus increasing brand loyalty

Threats

1. Competitors has more market share and better brand image, thus expanding is very difficult

2. Technological Development: Demand for arts and crafts products and services will decrease

Competition

Competitors

1. Michaels Stores
2. Hobby Lobby
3. AC Moore

 


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