Patek Philippe SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP

Published by MBA Skool Team, Last Updated: April 26, 2020

SWOT analysis of Patek Philippe analyses the brand/company with its strengths, weaknesses, opportunities & threats. In Patek Philippe 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 Patek Philippe to benchmark its business & performance as compared to the competitors and industry. As of 2020, Patek Philippe is one of the leading brands in the lifestyle and retail sector.

The table below lists the SWOT (Strengths, Weaknesses, Opportunities, Threats), top Patek Philippe competitors and includes Patek Philippe target market, segmentation, positioning & Unique Selling Proposition (USP).

Patek Philippe SWOT Analysis, Competitors, Segmentation, Target Market, Positioning, USP & Brand Analysis Table
Patek Philippe Brand Analysis
Parent Company

Patek Philippe & Co.

Category

Watches and Accessories

Sector

Lifestyle and Retail

Tagline/ Slogan

Something truly precious holds its beauty forever

USP

Patek Philippe offers high precision and high quality watches with traditional designs

Patek Philippe STP
Patek Philippe Segmentation

Luxury watches segment

Patek Philippe Target Market

High Income Men and women

Patek Philippe Positioning

Patek Philippe offers watches to pass on for generations

SWOT Analysis
Patek Philippe Strengths

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

Patek Philippe Weaknesses

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

Patek Philippe Opportunities

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

Patek Philippe Threats

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

Competition
Competitors

Below are the top 16 Patek Philippe competitors:

1. Breguet

2. TAG Heuer

3. Cartier

4. Omega

5. Longines

6. Rado

7. Tissot

8. Hublot

9. Rolex

10. Swatch

11. Chopard

12. Breitling

13. Seiko

14. Richemont

15. Panerai

16. Ulysse Nardin


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.

Similar analysis has also been done for the competitors of the company belonging to the same category, sector or industry. Browse marketing analysis of more brands and companies similar to Patek Philippe. The BrandGuide section covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of more than 2800 brands from over 20 industry sectors.

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