Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Hobby Ideas analyses the brand by its strengths, weaknesses, opportunities & threats. In Hobby Ideas 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 Hobby Ideas to benchmark its business & performance as compared to the competitors. Hobby Ideas is one of the leading brands in the lifestyle and retail sector.
The article below lists the Hobby Ideas SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Hobby Ideas SWOT Analysis:
For Hobby Ideas, 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.
Hobby Ideas Strengths
The strengths of Hobby Ideas 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 Hobby Ideas :
1. Offers a range of more than 2500 products across various categories 2. Products includes Moulding Craft, Glass Craft, Ceramic Craft, Fabric Craft, Candle Craft, Decoupage, Scrapbooking & Paper Craft, Stickers & Transfers, Aero Modeling, D.I.Y Kits, Stamp Collection, Fine Art range, Party products, Magic Kits, Games, Return Gifts, Puzzles and more 3. Products are complemented with books, videos, articles, projects and workshops 4. Trained staff and teachers
5. It has a first mover advantage in the Indian market
Hobby Ideas 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 Hobby Ideas SWOT Analysis:
1.Customer base is very less as it is a new concept 2. Hasn't expanded beyond metro cities
Hobby Ideas 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 Hobby Ideas SWOT Analysis:
1.Disposable income is increasing of the customers
2. Tapping the international market specially emerging economies
3. Acquisition of smaller retail chains
4. More visibility through advertising and customer focused services
Hobby Ideas 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 Hobby Ideas are as mentioned:
1.Concept is not so popular yet 2.Huge expense is required in advertisement and promotion
3. More stores on similar lines and entry of international players
Hobby Ideas Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 2 competitors of Hobby Ideas:
People interested in craft art and other similar hobbies
Urban upper middle class households
Chain of art, craft and hobby stores
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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