SWOT Analysis of Unum with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis
Unum |
|
Parent Company |
Unum Group |
Category |
Insurance |
Sector |
|
Tagline/ Slogan |
Better Benefits at Work |
USP |
Top disability insurer in both the US and UK |
Unum STP |
|
Segment |
Individuals and enterprises |
Target Group |
Enterprises and rich individual investors |
Positioning |
A company that believes in building relationships with customers |
Unum SWOT Analysis |
|
Strengths |
Below is the Strengths, Weaknesses, Opportunities & Threats (SWOT) Analysis of Unum : 1. The company has a strong financial position in the current market 2. Amongst its competitors it holds a stronger position in the industry 3. It has high returns on investment and has an attractive business portfolio 5. A very strong domestic presence in the US & UK market with it being top disability insurer in both the countries 6. It has approx. 10,000 employees across 38 cities of US |
Weaknesses |
1. After lowering the costs of its services, the efficiency level has also decreased 3. Previous litigations have lent a negative image to the company |
Opportunities |
1. It needs to tap the international markets to gain more revenues and market share 2. With market for aged people increasing, the company can increase its revenue stream from these new customers 4. More investment in research and development will help in creating newer products which can serve new customers |
Threats |
1. There is a strong competition in the insurance market 2. Rise in the number of insurance frauds, means the number of losses it would have to bear will increase |
Unum Competition |
|
Competitors |
Below are the 3 main Unum competitors : 1. UnitedHealth Group, Inc. |
The brandguide table above concludes the Unum SWOT analysis along with its marketing and brand parameters. Similar analysis has also been done for the competitors of the company belonging to the same category, sector or industry.
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