Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Canadian Tire analyses the brand by its strengths, weaknesses, opportunities & threats. In Canadian Tire 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 Canadian Tire to benchmark its business & performance as compared to the competitors. Canadian Tire is one of the leading brands in the lifestyle and retail sector.
The article below lists the Canadian Tire SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Canadian Tire SWOT Analysis:
For Canadian Tire, 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.
Canadian Tire Strengths
The strengths of Canadian Tire 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 Canadian Tire :
1. Presence in different categories like online,automotive,financial services 2. Canada's largest retailer 3. High accessibility of stores by consumers 4. The world's first hard goods retailer to begin selling gasoline at their stores as a means of driving customer traffic.
5. Attractive promotional offers
6. High presence in domestic market
Canadian Tire 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 Canadian Tire SWOT Analysis:
1. Not known globally compared to some other brands 2.Market share is limited due to competitive segment
Canadian Tire 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 Canadian Tire SWOT Analysis:
1. To expand globally into other countries other than Canada 2.It has large brand awareness so could leverage on it
Canadian Tire 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 Canadian Tire are as mentioned:
1.Competitors global presence 2.Consumers are not habituated of buying different categories like automotive and gifts under one roof 3.Low priced brand perceived to be of low quality in Indian consumer minds
Canadian Tire Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 5 competitors of Canadian Tire:
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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