Patek Philippe SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of Patek Philippe, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
Patek Philippe is one of the leading brands in the lifestyle and retail sector. The article below lists the Patek Philippe SWOT and includes its target market, segmentation, positioning & USP.
In this article:
Let us start the SWOT Analysis below:
The strengths of Patek Philippe looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
A list of strengths is mostly the starting point in a SWOT analysis. Below are the Strengths in the SWOT Analysis of Patek Philippe :
1. Established in 1851, the Patek Philippe brand is associated with history, tradition and values
2. Due to its history, Patek Philippe has developed a reputation of being a trusted and reputed brand that makes high precision traditional watches
3. The brand has several patents registered under its name since 1851
4. The brand is extremely popular with the watch collectors worldwide. The brand recall is high and the brand positioning is clear
5. Strong brand presence and legacy of Patek Philippe luxury watches
6. More than 2000 people are employed with the luxury watch maker
7. Patek Philippe brand has also been associated with the royal families in Europe
The weaknesses of a brand are certain aspects of its business which it can improve. Here are the weaknesses in the Patek Philippe SWOT Analysis:
1. There are only a few Patek Philippe Salons worldwide. This can be a major drawback for the brand
2. The brand has limited presence across the developing economies where there has been high growth in luxury product purchases
The opportunities for any brand can include prospects of future growth. Following are the opportunities in Patek Philippe SWOT Analysis:
1. Patek Philippe watches can experience high growth in economies that are developing that have seen high growth in the luxury segment
2. The products under the brand as well as their production are limited. Since demand is more than the supply, the brand can expand its product range and numbers
3. More advertising and brand building exercises can help its target audience develop a connect with the brand
The threats for any business can be external factors which can negatively impact its business. The threats in the SWOT Analysis of Patek Philippe are as mentioned:
1. Patek Philippe brand poses a threat from counterfeit products that can take away its property of being rare.
2. Brand recall and brand presence as compared to the competitors is low leading to non-watch collectors to move to the competing brands
3. More and more people are choosing their cellphones as a substitute to watches
4. Government policies against luxury goods & imported items can affect global business
Read Similar SWOT analysis
Hence this concludes the Patek Philippe SWOT analysis.
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About Patek Philippe
|Patek Philippe Overview|
Patek Philippe & Co.
Watches and Accessories
Something truly precious holds its beauty forever
Patek Philippe offers high precision and high quality watches with traditional designs
|Patek Philippe STP|
Luxury watches segment
High Income Men and women
Patek Philippe offers watches to pass on for generations
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.
Browse marketing analysis of more brands and companies similar to Patek Philippe. This section covers SWOT Analysis along with Segmentation, Target Market, Positioning & USP of more than 2000 brands from over 20 industry sectors.
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