Fastenal SWOT Analysis, Competitors & USP

SWOT analysis of Fastenal analyses the brand by its strengths, weaknesses, opportunities & threats. In Fastenal 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 Fastenal to benchmark its business & performance as compared to the competitors. Fastenal is one of the leading brands in the lifestyle and retail sector.

The article below lists the Fastenal SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Fastenal SWOT Analysis:

SWOT Analysis of Fastenal

For Fastenal, 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.

Fastenal Strengths

The strengths of Fastenal 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 Fastenal :

1. Offers services like inventory management, small fastener manufacture, and machining
2. S&P 500 Component
3. Fastenal acquired parts of Holo-Krome, a US socket head screw-making company
4. Fastenal has been contracted by the US Government on a number of times

5. Strong presence across US

Fastenal 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 Fastenal SWOT Analysis:

1. It is only dependent on US and no global presence
2. The company paid a settlement to prevent litigation from cession of contract

Fastenal 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 Fastenal SWOT Analysis:

1. Fastenal will be the primary sponsor in the NASCAR Sprint Cup Series enhancing its image
2. Acquisition of smaller players
3. Rapid expansion plan for future

Fastenal 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 Fastenal are as mentioned:

1.Increasing competitor activity

2. Fluctuating economy affects operations and business

Fastenal Competitors

There are several brands in the market which are competing for the same set of customers. Below are the top 2 competitors of Fastenal:

1. Home Depot
2. Lowe's Companies

Hence this concludes the Fastenal SWOT analysis.

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About Fastenal

Fastenal Overview
Parent Company	Fastenal Co
Category	Home Improvement
Sector	Lifestyle and Retail
Tagline/ Slogan	Growth through customer service
USP	Industrial and construction supplies
Fastenal STP
Segmentation	Industries within area of operations
Target Market	Industry interested in construction supplies
Positioning	Industrial supply company

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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