Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of Snap-On analyses the brand by its strengths, weaknesses, opportunities & threats. In Snap-On 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 Snap-On to benchmark its business & performance as compared to the competitors. Snap-On is one of the leading brands in the industrial products and chemicals sector.
The article below lists the Snap-On SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Snap-On SWOT Analysis:
For Snap-On, 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 Snap-On 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 Snap-On :
1. Large use of technology enables it to stay ahead of the competition 2. Loyal customer base ensures that the brand strength is high 3. Its benchmarking program for all production facilities ensures energy conservation and proper waste management 4. Uses delivery vans to deliver their products directly to customers
5. The product portfolio includes Professional Automotive and Industrial Tools and Equipment
6. Employs approximately 11,500 people worldwide
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 Snap-On SWOT Analysis:
1. High prices of their tools as compared to lesser price of inferior alternatives
2. The brand is lesser known despite being an expert in the industry
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 Snap-On SWOT Analysis:
1. New and emerging markets offer a good opportunity to grow 2. Increasing demand for high end technology products
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 Snap-On are as mentioned:
1. Competition from other international players in multiple product categories
2. Strong distribution channels of competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Snap-On:
1. Stanley Black & Decker, Inc. 2.SKF AB 3. Makita Corp
Hand Tools , Power tools, Shop tools , Diagnostics
B2B, Businesses requiring professional tools
Better , Faster , Smarter products
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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