Corvette SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of Corvette, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
Corvette is one of the leading brands in the automobiles sector. The article below lists the Corvette SWOT and includes its target market, segmentation, positioning & USP.
In this article:
Let us start the SWOT Analysis below:
The strengths of Corvette looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
A list of strengths is mostly the starting point in a SWOT analysis. Below are the Strengths in the SWOT Analysis of Corvette :
1. Has been the recipient of several awards being a premium sports car
2. The brand manufactures lesser units of the car which helps retain its uniqueness and aspirational value
3. It is a strong performer in many racing events
4. It has a lineage to it which very few cars have
5. The brand is backed by the General Motors group
6. The brand keeps on innovating by coming up with stylish high performance concept cars
The weaknesses of a brand are certain aspects of its business which it can improve. Here are the weaknesses in the Corvette SWOT Analysis:
1. Strong competition from international brands have increased pressure on the brand
2. Fluctuating market condition of General Motors has reduced the brand’s performance
The opportunities for any brand can include prospects of future growth. Following are the opportunities in Corvette SWOT Analysis:
1. It is yet to explore new markets in term of geography, thus new markets opportunity
2.The engine size can either be reduced or re-tuned to generate more power as it has been noticed that it has less power comparatively
3. More branding and advertising to make it a high recall brand
The threats for any business can be external factors which can negatively impact its business. The threats in the SWOT Analysis of Corvette are as mentioned:
1. Its market share can be taken by the European manufacturers
2. People are increasingly preferring eco-friendly & more practical cars rather than cars for pleasure
3. Macro-economic factors that are against consumption of luxury goods
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Hence this concludes the Corvette SWOT analysis.
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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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