Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Banana Republic analyses the brand by its strengths, weaknesses, opportunities & threats. In Banana Republic 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 Banana Republic to benchmark its business & performance as compared to the competitors. Banana Republic is one of the leading brands in the lifestyle and retail sector.
The article below lists the Banana Republic SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Banana Republic SWOT Analysis:
For Banana Republic, 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.
Banana Republic Strengths
The strengths of Banana Republic 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 Banana Republic :
1.Global brand recognition and popular brand image
2. Franchising system opted by the brand and thus easy to expand.
3. The brand is popular with premium class looking for luxury
4.International fashion and global trends are religiously followed by the brand thus satisfying the needs of its loyal customers 5. Offers diverse products like apparel, shoes, handbags etc for both women and men 6. Strong distribution of Gap means available at all multi-brand retail stores globally
Banana Republic 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 Banana Republic SWOT Analysis:
1. Sometimes perceived as an extremely expensive product 2. Competition from existing brands means more brand switching
Banana Republic 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 Banana Republic SWOT Analysis:
1. Global markets in Europe and China and other emerging economies 2. Penetration of e-commerce i.e. sales made online is growing 3. Tie-ups with fashion houses and retail chains
Banana Republic 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 Banana Republic are as mentioned:
1. Economic fluctuations affect apparel retail business 2. Cost of prime real estate is competitive, i.e. location of stores is a key factor of it’s strategy 3. Increasing awareness and penetration of competitive brands
Banana Republic Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Banana Republic:
Banana Republic specializes in higher-end clothing and basics, carrying suits, personal care, and intimates
Banana Republic STP
Banana Republic caters to a segment looking for premium products willing to pay a premium price
Target market is the 25-35 age group.
Fashionable wear at accessible prices.
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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