Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of New Balance analyses the brand by its strengths, weaknesses, opportunities & threats. In New Balance 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 New Balance to benchmark its business & performance as compared to the competitors. New Balance is one of the leading brands in the lifestyle and retail sector.
The article below lists the New Balance SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the New Balance SWOT Analysis:
For New Balance, 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.
New Balance Strengths
The strengths of New Balance 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 New Balance :
1. New Balance shoes come in various sizes and length for different choices with customization
2. New Balance has many other sub brands dedicated for other sports or other purposes.
3. The company has been a part of several philanthropic efforts since past many years
4. The company claims their shoe boxes are made of recycled paer and they use environment friendly procedures while making products
5. New balance has sponsored teams and players in the Olympics, cricket, Australian Football League and NBA
6. The company has a century of expertise in the industry
7. Strong brand presence and marketing through online ads, ecommerce platforms etc
8. More than 5000+ people are employed with New Balance
New Balance 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 New Balance SWOT Analysis:
1. New Balance has limited market share growth because of global competitors
2. Limited presence and marketing in emerging economies
New Balance 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 New Balance SWOT Analysis:
1. New Balance is very well-known brand in US and can leverage that to grow worlwide 2. The company can diversify into making sports gear
3. High brand saliency and the positive affirmation from consumers has influenced demand in domestic market and the neighboring countries
4. Aggressive marketing and online presence can boost the business of New Balance
New Balance 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 New Balance are as mentioned:
1.Other brands offer more styles and cuts
2.Similar products available in other brands thus switching cost is less
3. Threat from other leading competitors can reduce market share for New Balance
New Balance Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 12 competitors of New Balance:
New Balance brand is known for its shoes which come in different varieties
New Balance STP
Sport enthusiast men, women& childrenlooking for apparel and shoes
Young men women and kids from the upper middle class segment
Premium athletic footwear and apparel meeting the needs of the everyday athlete.
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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