Published by MBA Skool Team, Last Updated: April 20, 2020
SWOT analysis of Band-Aid analyses the brand by its strengths, weaknesses, opportunities & threats. In Band-Aid 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 Band-Aid to benchmark its business & performance as compared to the competitors. Band-Aid is one of the leading brands in the FMCG sector.
The article below lists the Band-Aid SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Band-Aid SWOT Analysis:
For Band-Aid, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
The strengths of Band-Aid looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Band-Aid :
1. The brand which is almost 86 year old has become generic to the category 2. The company has achieved economies of scale and economies of scope. 3. Strong brand loyalty and top-of-the-mind product 4. Successfully differentiated from competitors 5. Excellent advertising and branding through TVCs and print ads 6. Targeting a huge kids segment also by associating itself with cartoon character brands
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Band-Aid SWOT Analysis:
1. Similar products available at lower cost lead to brand switching 2. Only effective for superficial cuts/wounds
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Band-Aid SWOT Analysis:
1. The acquisition of Pfizer will present company to support growth. 2. Increase global presence by acquisition and joint ventures 3.Tie-ups with schools, hospitals, clinics
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Band-Aid are as mentioned:
1. Johnson & Johnson is in mature market with very low market growth rate 2.Private label has increased nonspecific growth rate 3. Availability of lower price substitutes and strong competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 2 competitors of Band-Aid:
Continuous Care; Heals the wound fast heals the hurt faster
Bandage which does not need any other medicine while applying on wound
First aid, bandages
All age groups
Band- aid creates a clear, flexible, breathable seal that keeps out water, dirt and germs to help prevent infection so cuts are better protected and heal quickly.
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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