Prada SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of Prada, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
Prada is one of the leading brands in the lifestyle and retail sector. The article below lists the Prada SWOT, competitors and includes its target market, segmentation, positioning & USP.
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For Prada, 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 Prada 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.
A list of strengths is mostly the starting point in starting SWOT analysis. Below are the Strengths in the SWOT Analysis of Prada :
1. Prada is one of the most established luxury fashion houses worldwide
2. Prada products are known for its quality and unique designs
3. It has a strong association of luxury and exclusiveness attached to it
4. The brand has a strong presence in and around the world
5. Good advertising and branding through print ads, online ads & social media make Prada a very popular brand name
6. More than 12000 people are employed with the organization
7. A strong legacy of the brand Prada since its inception in 1913 shows its popularity in the luxury segment
8. Prada is actively involved through shows, boutiques and also makes perfumes, premium watches etc.
9. The company has an annual revenue which exceeds more than $4 billion.
10. Its products are available via multi-brand ecommerce portals as well as its exclusive website
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 Prada SWOT Analysis:
1. The brand has severe competition and hence there is high brand switching
2. Fake imitation of Prada products affects the brand image and its business
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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 Prada SWOT Analysis:
1. Entrance in emerging markets can be tapped by Prada
2. Capitalizing the digital medium to increase its reach where it is not available
3. Tie-up with fashion houses through partnerships to increase awareness
4. Prada can collaborate with leading hotel chains & elite clubs where rich people could become customers
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 Prada are as mentioned:
1. Intense Competition in luxury fashion can lead to decline in Prada's business
2. Easily available substitutes can reduce profit margins
3. Change in economy which may reduce the dependence on luxury fashion
4. Being a global brand, its business is subject to recession, economic conditions etc.
There are several brands in the market which are competing for the same set of customers. Below are the top 11 competitors of Prada:
4. Ralph Lauren
8. Hugo Boss
9. Hermes International
11. Valentino S.P.A
Hence this concludes the Prada SWOT analysis.
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Accessories and Apparel
Prada is a brand which focuses only on luxury Fashion
Men and Women from urban upper class
Prada is positioned luxury fashion for the elite
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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