Published by MBA Skool Team, Last Updated: April 27, 2020
SWOT analysis of BF Goodrich analyses the brand by its strengths, weaknesses, opportunities & threats. In BF Goodrich 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 BF Goodrich to benchmark its business & performance as compared to the competitors. BF Goodrich is one of the leading brands in the automobiles sector.
The article below lists the BF Goodrich SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the BF Goodrich SWOT Analysis:
For BF Goodrich, 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.
BF Goodrich Strengths
The strengths of BF Goodrich 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 BF Goodrich :
1. A very old and reputed company in tire industry since 1870 2. They have known as first achievers in many technology breakthroughs. 3. They have excellent relations n terms with car makers of highest repute 4. They revolutionized tire industry by inventing first tubeless tire.
5. Good financials and brand equity.
BF Goodrich Weaknesses
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 BF Goodrich SWOT Analysis:
1. Less visibility in emerging economies 2. No initiatives communicated towards their eco-friendly stand
BF Goodrich Opportunities
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 BF Goodrich SWOT Analysis:
1. Opportunity to enter emerging economies in a big way. 2. Positioning their product as eco-friendly by bringing necessary innovations.
BF Goodrich Threats
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 BF Goodrich are as mentioned:
1. Stiff Competition from national and international brands.
2. Japanese and US economies are not growing much and have reached a maturity phase-as it has its major operations there 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. 5. Volatility of raw material prices
BF Goodrich Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 7 competitors of BF Goodrich:
Reputed; well established; innovative; technology driven
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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