Published by MBA Skool Team, Last Updated: April 20, 2020
SWOT analysis of Veet analyses the brand by its strengths, weaknesses, opportunities & threats. In Veet 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 Veet to benchmark its business & performance as compared to the competitors. Veet is one of the leading brands in the FMCG sector.
The article below lists the Veet SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Veet SWOT Analysis:
For Veet, 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 Veet 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 Veet :
1. Established brand name in waxing and hair removal 2. Dynamic brand which relates to the changing needs of the global consumer 3. Strong distribution network and good brand visibility 4. Has a wide product range
5. Good branding and advertising as it is associated with celebrities as well
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 Veet SWOT Analysis:
1. Presence of similar beauty products means limited market share and high brand switching 2. Skin Sensitivity can be an issue for some customers
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 Veet SWOT Analysis:
1. Untapped rural market and global expansion 2.Tie ups with beauty parlors, fashion and modeling houses
3. With hospitals and clinics to treat scars after waxing off around affected parts
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 Veet are as mentioned:
1. Strong and established competitors 2. Low brand loyalty of customers 3. Threat from substitutes
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Veet:
Innovative hair removal cream which also comes in roll-on, Dry waxing form.
Hair Removal cream segment
Urban women of middle class and above
Beauty brand among women.
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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