Published by MBA Skool Team, Last Updated: April 27, 2020
SWOT analysis of Goodyear analyses the brand by its strengths, weaknesses, opportunities & threats. In Goodyear SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Goodyear to benchmark its business & performance as compared to the competitors. Goodyear is one of the leading brands in the automobiles sector.
The article below lists the Goodyear SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Goodyear SWOT Analysis:
For Goodyear, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
The strengths of Goodyear looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Goodyear :
1. With the turnover of over $22 billion they are one of the world’s leading tyre makers with no.1 position in North America & Latin America and second position in Europe. 2. It has a Global Footprint with operations at 54 sites spread over 22 countries. 3. Innovation centers at Ohio and Luxemberg provide them with competitive edge in technology. 4. Excellent management team with over 70,000 employees globally
5. Company has established strong brand identity and customer loyalty.
6. Most successful tire supplier in Formula 1.
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Goodyear SWOT Analysis:
1. Penetration level in Asian emerging economies is less 2. Intense competition in the tyre industry makes market share constant 3. Studies reveal it company produces high amount of airpollution
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Goodyear SWOT Analysis:
1. Emerging markets needs to be capitalized on. 2. Tie-ups with Automobile manufacturing giants may go a long way. 3.Innovative and catchy advertising campaigns
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Goodyear are as mentioned:
1. Volatility in raw material prices. 2. Low priced substitutes 3. Stiff competition both from national and international companies.
4. Government Policies w.r.t export duties, import duties, tax levied on automobile industries and economic condition of nation as it determines the sale of automobiles.
5. Introduction of other transport facilities like metro, monorails and local trains keeping pollution hazards caused by combustion of automobile fuels.
6. Fluctuations in exchange rates
There are several brands in the market which are competing for the same set of customers. Below are the top 7 competitors of Goodyear:
On the Wings of Goodyear; We discover, you explore; More driven; Get There
An international brand of high repute with competitive edge fueled by innovation and superior product quality.
Racing cars, heavy duty vehicles, passenger cars, bikes, industrial equipment-like forklifts, bulldozers, cranes etc.
Excellent product quality maintained over decades with continual improvement.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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