Published by MBA Skool Team, Last Updated: April 29, 2020
SWOT analysis of Hormel Foods analyses the brand by its strengths, weaknesses, opportunities & threats. In Hormel Foods 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 Hormel Foods to benchmark its business & performance as compared to the competitors. Hormel Foods is one of the leading brands in the food & beverages sector.
The article below lists the Hormel Foods SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Hormel Foods SWOT Analysis:
For Hormel Foods, 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.
Hormel Foods Strengths
The strengths of Hormel Foods 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 Hormel Foods :
1. Developing new products for consumers starts by understanding individual needs 2. Since 1891, Hormel Foods has produced products that consumers have come to know and love,with iconic brands like Hormel, Jennie-O Turkey Store and SPAM it has built consumer loyalty around the world 3. Balanced business model including its diverse product portfolio 4. Hormel Foods is among an elite group of Dividend Aristocrats, which are S&P 500 companies that have increased their dividend rate for decades
5. The company has a strong workforce of nearly 19,000 people
Hormel Foods Weaknesses
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 Hormel Foods SWOT Analysis:
1. Limited market share and global presence as compared to global leaders 3.Input costs for corn and soybean meal are volatile 4. Fluctuating freight and marketing expenses
Hormel Foods Opportunities
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 Hormel Foods SWOT Analysis:
1. Building business through internal expansion and/or strategic acquisitions 2.Obtaining improved profits through international joint ventures 3. Overseas markets
Hormel Foods Threats
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 Hormel Foods are as mentioned:
1.Nutrition & health related concerns
2. Food contamination caused by disease producing organism or pathogens 3.Increase in the cost of animal feed
4. Federal, state, and local food processing controls
Hormel Foods Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Hormel Foods:
1.ConAgra Foods, Inc.
2. Mondelez International, Inc.
3. Tyson Foods Inc.
Hence this concludes the Hormel Foods SWOT analysis.
Trusted brands that have been built over time by consistently providing high-quality products
Hormel Foods STP
Five business segments — Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods and All Other (International)
Retail grocers, Broad line food service distributors , National fast food outlets, Full service restaurant chains
Creating innovative products to meet consumer needs
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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