Published by MBA Skool Team, Last Updated: April 29, 2020
SWOT analysis of Haigh's Chocolates analyses the brand by its strengths, weaknesses, opportunities & threats. In Haigh's Chocolates 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 Haigh's Chocolates to benchmark its business & performance as compared to the competitors. Haigh's Chocolates is one of the leading brands in the food & beverages sector.
The article below lists the Haigh's Chocolates SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Haigh's Chocolates SWOT Analysis:
For Haigh's Chocolates, 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.
Haigh's Chocolates Strengths
The strengths of Haigh's Chocolates 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 Haigh's Chocolates :
1. Strong brand legacy- Operating successfully since 1912.
2. Strong brand equity and high quality productsS 3. Presence in South Australia, Victoria and New South Wales.
4. Wide variety of chocolates in attractive packages. (Milk chocolates, Dark Chocolates, Liquor chocolates, etc.)
5. Success of chocolate "Easter Bilby" as an alternative to the Easter Bunny.
6. Popular tours to the factory for the public, to see the making of chocolate.
Haigh's Chocolates 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 Haigh's Chocolates SWOT Analysis:
1. Inability to expand business despite of many attempts leading to low market share
2. Couldn’t obtain certification from Fair Trade Foundation.
Haigh's Chocolates 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 Haigh's Chocolates SWOT Analysis:
1. Developments in the direction of gift vouchers which are proving to be popular as corporate gifts and company reward programs.
2. Online selling and delivering (E-commerce platform)
3. Market development in rest of Australia and gradually at the global level.
Haigh's Chocolates 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 Haigh's Chocolates are as mentioned:
1. Responding to increasing Health consciousness amongst people. 2. Maintaining good quality in perishable category is a challenge. (Whitening of chocolates and inadequate storage conditions hampers brand image.)
3. Strong Competition from other chocolate companies.
Haigh's Chocolates Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Haigh's Chocolates:
Young people and couples who buy chocolate for consumption and gifting.
A trusted Australian family owned company since 1915.
Making (hand-made) fine chocolates from the cocoa bean.
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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