Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Speedo analyses the brand by its strengths, weaknesses, opportunities & threats. In Speedo 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 Speedo to benchmark its business & performance as compared to the competitors. Speedo is one of the leading brands in the lifestyle and retail sector.
The article below lists the Speedo SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Speedo SWOT Analysis:
For Speedo, 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 Speedo 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 Speedo :
1. The use of biomechanics for the design of swimwear which add that extra element of champion and achievement to the brand. 2. The brand is the biggest promoter of swimming in America with Olympian champions as brand ambassadors 3. The brand is present across the world through MBO’s and company owned flagship which are category killers when it comes to swimwear. 4. The brand has diversified swimwear accessories like boots, digital music players which are a rage for swim lover
5. The brand has a popular name and has good advertising and visibility
6. It has sponsored many international swimming teams and players
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 Speedo SWOT Analysis:
1.The brand has been marred by controversial technologies like Fast skin, LZR which too had swimmers disqualified. 2. The group is not into extensive advertising and promotions in international markets as compared to a few other big sports apparel brand
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 Speedo SWOT Analysis:
1. The brand can move to effective sponsorships to swimming teams in Asia where the sport is growing well. 2. The brand can also diversify further into different product lines to be a complete lifestyle brand. 3. The brand can look to set up manufacturing and procurement facilities to maintain economies of scale in future.
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 Speedo are as mentioned:
1. Ignorance of importance of technology and design in swimwear is a major deterrent for the brand. 2. The brand also faces high threat from counterfeit products which sell cheap quality swimwear branded as its name
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Speedo:
Men and women, kids who take up swimming as a serious sport
Young men, women and kids from the urban upper middle and upper class
Swimwear for the true sportsmen
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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