Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Nakshatra analyses the brand by its strengths, weaknesses, opportunities & threats. In Nakshatra 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 Nakshatra to benchmark its business & performance as compared to the competitors. Nakshatra is one of the leading brands in the lifestyle and retail sector.
The article below lists the Nakshatra SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Nakshatra SWOT Analysis:
For Nakshatra, 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 Nakshatra 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 Nakshatra :
1. Most famous and desirable brand for the consumers in India 2. Celebrity brand ambassadors help the brand in associating with the audience 3. Most trusted and praised due to its innovative designs 4. It’s one of the exporting diamond product company 5. It is one of India’s fastest growing and top of the mind jewellery brand
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 Nakshatra SWOT Analysis:
1. Despite high brand presence, local and domestic competition makes it difficult to control the market share 2. Global penetration is limited, which can be a huge market
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 Nakshatra SWOT Analysis:
1. Needs to strengthen its foot in the areas like US, Japan, china and Middle east 2.Needs to increase its retail presence in India 3.Still competition from local vendors but it can be a market leader by moving into and promoting its brand in tier III cities.
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 Nakshatra are as mentioned:
1.Fragmentation of rough diamond supply 2.Valatility in the prices of Gold and diamonds 3.Emergnce of new mining areas
4.More demand into studded jeweler and solitaires
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Nakshatra:
Patronized by all woman who adore the diamond who buys diamond for prestige, for a status symbol and to gain satisfaction
Upper middle and upper class from the urban areas
Depicts the culture and tradition of India
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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