1st Central SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP

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

SWOT analysis of 1st Central analyses the brand/company with its strengths, weaknesses, opportunities & threats. In 1st Central 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 1st Central to benchmark its business & performance as compared to the competitors and industry. As of 2020, 1st Central is one of the leading brands in the banking & financial services sector.

The table below lists the SWOT (Strengths, Weaknesses, Opportunities, Threats), top 1st Central competitors and includes 1st Central target market, segmentation, positioning & Unique Selling Proposition (USP).

1st Central SWOT Analysis, Competitors, Segmentation, Target Market, Positioning, USP & Brand Analysis Table
1st Central Brand Analysis
Parent Company

1st Central Group

Category

Insurance

Sector

Banking & Financial Services

Tagline/ Slogan

Best Young Driver Insurance, Cheap New Driver Insurance

USP

High standard of customer service, driving down the cost of car insurance

1st Central STP
1st Central Segmentation

Car and Pet Insurance

1st Central Target Market

Working and middle class, Young and new drivers and motorists

1st Central Positioning

Low cost,  high standard insurance

1st Central SWOT Analysis
1st Central Strengths

Below are the Strengths in the SWOT Analysis of 1st Central:

1. Customer centric and exceptional Customer service
2. Rapidly growing company with ambitious business goals.
3. Employs a robust and flexible rating software which has enabled rapid growth and profitability.
4. Sophisticated end to end claims management system in place.

1st Central Weaknesses

Here are the weaknesses in the 1st Central SWOT Analysis:

1. Only focused on UK customers means limited market share

2. Still in the process of making itself an established Insurance company

1st Central Opportunities

Following are the Opportunities in 1st Central SWOT Analysis:

1. Geographical expansion through tie-ups
2.Introduce more products and services

3. Acquisitions would help the brand grow further

1st Central Threats

The threats in the SWOT Analysis of 1st Central are as mentioned:

1. Entry barriers to the Insurance industry is low in Gibraltar because of less regulations, this poses of major threat from new entrants.
2. Increasing awareness among customers

1st Central Competition
Competitors

Below are the top 3 1st Central competitors:

1.Collingwood Insurance Company
2.Ibex Motor Insurance
3.Enterprise 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 1st Central. 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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