Virgin Megastore SWOT Analysis, Competitors & USP
SWOT analysis of Virgin Megastore analyses the brand by its strengths, weaknesses, opportunities & threats. In Virgin Megastore 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 Virgin Megastore to benchmark its business & performance as compared to the competitors. Virgin Megastore is one of the leading brands in the lifestyle and retail sector.
The article below lists the Virgin Megastore SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Virgin Megastore SWOT Analysis:
In this article:
SWOT Analysis of Virgin Megastore
For Virgin Megastore, 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.
Virgin Megastore Strengths
The strengths of Virgin Megastore 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 Virgin Megastore :
1. First Music store opened in London
2. Worldwide presence – hundreds of stores worldwide
3. Supported by highly diversified parent company
4.Well established in middle east
5. The brand is present across 15 countries worldwide
6. Strong backing of brand name Virgin and Richard Branson
Virgin Megastore 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 Virgin Megastore SWOT Analysis:
1. Most of their stores are closed even in UK
2.Low product portfolio and limited business
Virgin Megastore 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 Virgin Megastore SWOT Analysis:
1. Start their own albums to attract people to stores
2. Tap into movies and sponsorships – Videogame markets
3.Can upward integrate into manufacturing of music electronics
Virgin Megastore 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 Virgin Megastore are as mentioned:
1. Technology changing rapidly
2.High competition by innovative models
3.Extinction period for music stores
Virgin Megastore Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Virgin Megastore:
1.Online Music Stores
2.Circuit City
3.HMV
Hence this concludes the Virgin Megastore SWOT analysis.
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About Virgin Megastore
|
Virgin Megastore | |
| Parent Company |
Butler Capital Partners, Lagardere Group |
|---|---|
| Category |
Entertainment - Music, books, apparel and electronics |
| Sector | |
| Tagline/ Slogan |
- |
| USP |
High street icon music store |
| Virgin Megastore STP | |
| Segmentation |
Entertainment world |
| Target Market |
Music lovers |
| Positioning |
High street icon music |
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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