Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Colorplus analyses the brand by its strengths, weaknesses, opportunities & threats. In Colorplus 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 Colorplus to benchmark its business & performance as compared to the competitors. Colorplus is one of the leading brands in the lifestyle and retail sector.
The article below lists the Colorplus SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Colorplus SWOT Analysis:
For Colorplus, 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 Colorplus 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 Colorplus :
1. Usage of pioneered techniques like Golf ball wash, Cone Dyed casuals to maintain product quality. 2. Provides Spectrum is an exclusive membership to premium customers, with excellent rewards and benefits. 3. All garments are handcrafted and use modern technology like “chinos 6030” which ensures wrinkle free clothing. 4. The brand has over 350 stores across the country and is prevalent in the Middle East
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 Colorplus SWOT Analysis:
1. Global penetration is limited as compared to a few other international brands 2. Presence of Indian and international brands offers more offering to customers therefore high brand switching
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 Colorplus SWOT Analysis:
1.Growing Market in India and abroad 2.Consistent growth in India and more fashion conscious people 3.Leverage bigger brand of Raymond
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 Colorplus are as mentioned:
1. Competition from international brands entering the market 2. Constantly changing fashion trends means inventory issues
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Colorplus:
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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