Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Timex analyses the brand by its strengths, weaknesses, opportunities & threats. In Timex 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 Timex to benchmark its business & performance as compared to the competitors. Timex is one of the leading brands in the lifestyle and retail sector.
The article below lists the Timex SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Timex SWOT Analysis:
For Timex, 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 Timex 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 Timex :
1. There is high brand awareness of the Timex brand, especially in Asia
2. Timex brands are known to be high quality and reliable products
3. The brand enjoys a very high brand recall
4. Timex has more than 5000 employees with manufacturing and distribution in over 20 countries and a presence in more than 100 countries across the world 5. Excellent brand recall and god advertising through TVCs and print ads
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 Timex SWOT Analysis:
1. Timex has many products in its watches portfolio. This leads to reduction in the equity of the brand 2. Fake imitations affect the brands presence and sales
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 Timex SWOT Analysis:
1. The watch segment in the low to middle segments is a rapidly expanding environment, especially in the developing markets of Asia
2. New technology in the watch segment can open up opportunities
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 Timex are as mentioned:
1. The low to mid level segment of watches is most crowded with competitors.
2. Price levels in this segment are very crucial as the consumer is very price conscious
3. Fake watches that carry the same brand name and sell cheaply
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Timex:
Timex. Life is ticking ; Ridiculously easy to use (Timex with I-Control) ; It takes a lickin', but it keeps on tickin'
Innovative products at affordable prices
Low to Mid level segment
Mid income group
Brand synonymous with Design, durability and Performance
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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