Hankook SWOT Analysis

Hankook is one of the leading brands in the automobiles sector. Hankook SWOT analysis evaluates the brand by its strengths & weaknesses which are the internal factors along with opportunities & threats which are the external factors. Let us start the SWOT Analysis of Hankook:

Hankook Strengths

1.  Company was Korea’s first tire manufacturing company and has been the largest manufacturer of tire since its inception in 1941
2. They have global reach with its tires being sold in more than 180 countries of the world
3. They are a rapidly growing company with increasing annual growth
4. Company is known for its excellent technology and believes in continuous innovation through its 5 R & D centers
5. They have 5 plants at present in three countries and have capacity projects in China and Indonesia
6. Company has healthy financial position.
7. Wide range of portfolio helps company satisfy varied demands of the customers all over the world.

Above are the strengths in the SWOT Analysis of Hankook. The strengths of Hankook looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.

Hankook Weaknesses

1. They have less visibility in emerging economy like India, Brazil
2. Lack of diversification

These were the weaknesses in the Hankook SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.

Hankook Opportunities

1. They have growth opportunity in emerging economies like India, China, Brazil etc.
2. Opportunity to diversify more strategically to mitigate the risk of putting all the eggs in one basket
3. Opportunity to improve its market share in motorbike category
4. Communicating their eco-friendly approach and improving visibility in market

Above we covered the opportunities in Hankook SWOT Analysis. The opportunities for any brand can include prospects of future growth.

Hankook Threats

1. There is Stiff Competition from national and international brands.
2. European economy is not growing and has reached a maturity phase but it has its max sales in European
3. 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.
4. Introduction of other transport facilities like metro, monorails and local trains keeping pollution hazards caused by combustion of automobile fuels

The threats in the SWOT Analysis of Hankook are as mentioned above. The threats for any business can be external factors which can negatively impact its business.

Hence this concludes the Hankook SWOT analysis.

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About Hankook

The table below gives the brand overview along with its target market, segmentation, positioning & USP

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.

Browse marketing analysis of more brands and companies similar to Hankook. This section covers SWOT Analysis along with Segmentation, Target Market, Positioning & USP of more than 2000 brands from over 20 industry sectors.

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