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. As of 2020, 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 Brand Analysis | |
|---|---|
| Parent Company |
State Farm Insurance |
| Category |
Insurance |
| Sector | |
| 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 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 |
| State Farm Opportunities |
Following are the Opportunities in State Farm SWOT Analysis: 1. More focus on retirement insurance and pension policies |
| State Farm Threats |
The threats in the SWOT Analysis of State Farm are as mentioned: 1. Fiercely competitive insurance market in US |
| State Farm Competition | |
| Competitors |
Below are the top 3 State Farm competitors: 1. AIG |
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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