Chopard SWOT Analysis, Competitors & USP

Posted in Lifestyle and Retail, Total Reads: 8231
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SWOT Analysis of Chopard with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Chopard

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

Segment

Luxury watches segment

Target Group

High Income group men and women

Positioning

Chopard offers elegant watches that are artistically adorned with precious stones

Chopard SWOT Analysis

Strengths

Below is the Strengths, Weaknesses, Opportunities & Threats (SWOT) Analysis of Chopard. Strengths are:

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

Weaknesses

Here are the weaknesses of Chopard :

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

Opportunities

Following are the Opportunities of Chopard :

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

Threats

The threats 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 Competition

Competitors

Below are the 14 main Chopard competitors :

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


The brandguide table above concludes the Chopard SWOT analysis along with its marketing and brand parameters. Similar analysis has also been done for the competitors of the company belonging to the same category, sector or industry.

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