Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Harvey’s analyses the brand by its strengths, weaknesses, opportunities & threats. In Harvey’s 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 Harvey’s to benchmark its business & performance as compared to the competitors. Harvey’s is one of the leading brands in the lifestyle and retail sector.
The article below lists the Harvey’s SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Harvey’s SWOT Analysis:
For Harvey’s, 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 Harvey’s 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 Harvey’s :
1.Fifth-largest conventional supermarket in the United States
2. Harvey’s employs more than 3,000 associates who serve customers in 50+ grocery stores and 24 in-store pharmacies throughout the three southeastern states of Florida, Georgia and South Carolina
3. Provides the best possible quality and value to customers
4.Community services like fight against childhood hunger
5. Weekly special and reward points are attractive for customers
6.Hometown educational rewards for students
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 Harvey’s SWOT Analysis:
1.Brand is limited to a few locations means limited market share
2.There are not much options for in-store services
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 Harvey’s SWOT Analysis:
1.Growth and expansion plans for other markets and neighboring states
2.Opportunities for private labeled brands
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 Harvey’s are as mentioned:
1.Threats from the big players of the market
2. Loss of inventory is a concern
3. Increasing cost of operations is a concern
There are several brands in the market which are competing for the same set of customers. Below are the top 2 competitors of Harvey’s:
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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