Chopard SWOT Analysis, Competitors & USP

Chopard SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of Chopard, 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 Chopard to benchmark its business & performance as compared to the competitors, and make strategic improvements. Chopard is one of the leading brands in the lifestyle and retail sector.

The article below lists the Chopard SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Chopard SWOT Analysis:

SWOT Analysis of Chopard

For Chopard, 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.

Chopard Strengths

The strengths of Chopard 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 Chopard :

1. Chopards latest ‘Time check’ campaign subtly integrates the brand values and ensures good product placement

2. The Chopard brand is fully manufactured in house which ensures highest standards of quality

3. Furthering its glamorous and exquisite image the brand is the Official partner of the Cannes film festival festival

4. High quality product and good brand presence

5. Good online presence of the Chopard watches and jewelry product through its website & ecommerce portals

6. Strong legacy of the brand since its inception in 1860

7. Chopard has been associated with prestigious film festivals, motor car racing events etc

Chopard 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 Chopard SWOT Analysis:

1. Watch makers that are also jewellery brands do not give a strong positioning of being watch making experts. This works negatively for the brand

2. Chopard have limited brand presence as compared to the some of the more popular luxury watch brands

Chopard 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 Chopard SWOT Analysis:

1. Chopard brand is yet to fully explore its potential in developing economies

2. The brand can extend its glamorous image in marketing campaigns to film awards and festivals across the world to gain higher visibility

3. The company can utilize online portals and ecommerce for more business

Chopard 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 Chopard are as mentioned:

1. Chopard's competitors having more brand recall can pose a threat in terms of brand switching

2. More and more people are choosing their cellphones as a substitute to watches

3. Fake & counterfeit products carrying the same brand name selling in black markets

Chopard Competitors

There are several brands in the market which are competing for the same set of customers. Below are the top 14 competitors of Chopard:

1. Breguet

2. TAG Heuer

3. Rolex

4. Omega

5. Longines

6. Rado

7. Tissot

8. Hublot

9. Tiffany and Co

10. Bulgari

11. De Beers

12. Blue Nile

13. Swarovski Crystal

14. Cartier

Hence this concludes the Chopard SWOT analysis.

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About Chopard

Chopard Overview
Parent Company	Chopard
Category	Watches and Accessories
Sector	Lifestyle and Retail
Tagline/ Slogan	The passion for excellence
USP	Chopard offers exquisite handmade luxury timepieces
Chopard STP
Segmentation	Luxury watches segment
Target Market	High Income group men and women
Positioning	Chopard offers elegant watches that are artistically adorned with precious stones

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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