State Farm SWOT Analysis, Competitors, STP & USP

Published by MBA Skool Team, Last Updated: April 26, 2020

SWOT analysis of State Farm analyses the brand/company with its strengths, weaknesses, opportunities & threats. In State Farm 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 State Farm to benchmark its business & performance as compared to the competitors and industry. State Farm is one of the leading brands in the banking & financial services sector.

The table below lists the SWOT (Strengths, Weaknesses, Opportunities, Threats), top State Farm competitors and includes State Farm target market, segmentation, positioning & Unique Selling Proposition (USP).

State Farm SWOT Analysis, Competitors, Segmentation, Target Market, Positioning, USP & Brand Analysis Table
State Farm Brand Analysis
Parent Company

State Farm Insurance

Category

Insurance

Sector

Banking & Financial Services

Tagline/ Slogan

Like a good neighbor, State Farm is there

USP

Company offering wide range of insurance products for everyone’s need

State Farm STP
State Farm Segmentation

Individual life insurance, health insurance, Home insurance, Auto insurance, Mutual Funds

State Farm Target Market

Individuals, Home buyers, Auto buyers, Mutual Fund Investors

State Farm Positioning

An expert in providing life, health and non-general insurance and financial solutions to its customers

State Farm SWOT Analysis
State Farm Strengths

Below are the Strengths in the SWOT Analysis of State Farm:

1. Strong position in domestic US market with a good market share
2. Strong revenues of the company
3. Employee strength of about 65,000+
4. High growth rate of the company owing to modern services

5. Brand recognition and customer loyalty

6. High credit rating adds to credibility and brand value

State Farm Weaknesses

Here are the weaknesses in the State Farm SWOT Analysis:

1. Overdependence on US market
2. Litigation issues faced by the company

State Farm Opportunities

Following are the Opportunities in State Farm SWOT Analysis:

1. More focus on retirement insurance and pension policies
2. Buoyant asset management market
3. Mutual funds offer a strong growth opportunity for the firm

State Farm Threats

The threats in the SWOT Analysis of State Farm are as mentioned:

1. Fiercely competitive insurance market in US 
2. Recession in US and weakening of financial markets
3. Frequent occurrence of natural disasters

State Farm Competition
Competitors

Below are the top 3 State Farm competitors:

1. AIG
2. AllState
3. Farmers Insurance


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.

Similar analysis has also been done for the competitors of the company belonging to the same category, sector or industry. Browse marketing analysis of more brands and companies similar to State Farm. The BrandGuide section covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of more than 2800 brands from over 20 industry sectors.

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