McCormick and Co SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of McCormick and Co, 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 McCormick and Co to benchmark its business & performance as compared to the competitors, and make strategic improvements. McCormick and Co is one of the leading brands in the food & beverages sector.
The article below lists the McCormick and Co SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the McCormick and Co SWOT Analysis:
In this article:
For McCormick and Co, 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 McCormick and Co 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 McCormick and Co :
1. From locations around the world, its consumer brands reach more than 110 countries and it has a strong leading position in its largest markets. McCormick is also a leading supplier of private label items
2. Its extensive research and development resources have enabled to build strategic partnerships and deliver innovative products
3. Leader in global sourcing and has years of experience with local growers that ensure high quality spices, herbs and other crops. These world-class standards extend to internal processing and throughout its global supply chain
4. Has achieved consistent annual EPS growth, generated strong cash flow and delivered dividend increases for consecutive years
5. Nearly 7500 employees form the workforce
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 McCormick and Co SWOT Analysis:
1. Fluctuations in the cost and availability of raw and packaging materials
2. Industrial business has a number of competitors
3. Seasonal factors inherent in McCormick’s business
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 McCormick and Co SWOT Analysis:
1. Geographic expansion in China and Southeast Asia
2. Extending success in one market to other parts of the world
3. Acquisitions to penetrate new markets and extend our portfolio in countries where we have a significant presence
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 McCormick and Co are as mentioned:
1. Damage to reputation or brand name, loss of brand relevance, increase in private label use by customers or consumers, or product quality or safety concerns could negatively impact McCormick
2. Raw materials are agricultural products, thus are subject to fluctuations in market price and availability caused by weather, growing and harvesting conditions
3. Subject in varying degrees to certain risks typically
associated with a global business, such as local economic and
market conditions, restrictions on investments, royalties,
dividends and exchange rate fluctuations
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of McCormick and Co:
1. Associated British Foods plc.
2. Adams Extract & Spice LLC
3. ACH Food Companies, Inc.
Hence this concludes the McCormick and Co SWOT analysis.
Continue reading more about the brand/company.
|McCormick and Co Overview|
McCormick & Company
McCormick brings passion to flavor
People all around the world trust McCormick to enhance their enjoyment of life by helping them create memorable food experiences—in or outside the home
|McCormick and Co STP|
Product segments: Herb & Spices, Recipe Inspirations, Seasoning Mixes, Extracts & Food Colors, Grill Mates, Gourmet Collection
Retail outlets, food manufacturers & food service businesses
Committed to making food taste great & its products help discover a new taste for creative cooking
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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