Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of LexisNexis analyses the brand by its strengths, weaknesses, opportunities & threats. In LexisNexis 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 LexisNexis to benchmark its business & performance as compared to the competitors. LexisNexis is one of the leading brands in the management & consulting sector.
The article below lists the LexisNexis SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the LexisNexis SWOT Analysis:
For LexisNexis, 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 LexisNexis 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 LexisNexis :
1. Over 30 Tera bytes of information on its 10+ maniframes 2. Provides computer assisted legal research 3. Different websites for two different offerings 4.Strong brand presence and top of the mind recall among legal professionals
5. Acquisition of other companies have strengthened its brand position
6. Has been recognized and coveted with several awards
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 LexisNexis SWOT Analysis:
1. Alleged theft of personal information of its users
2. Susceptibility to theft of data is a constant concern
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 LexisNexis SWOT Analysis:
1. Innovating its product offering to further its presence in the market 2.Avoiding any future breach of security 3.Coming up with new offering for general population
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 LexisNexis are as mentioned:
1.Disruptive innovation can hamper its growth 2.Hackers would try to breach its network for the information available
3. Run ins with government on issues like mishandling of stored information
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of LexisNexis:
1.Dow Jones and Company Inc. 2.Thomson Reuters (legal) Inc. 3.Factset Research Systems Inc.
Hence this concludes the LexisNexis SWOT analysis.
Pioneer in electronic accessibility of legal and journalisitic documents
Organization needing Legal solutions and assess , predict and manage risk
Law firms, Government and corporations
World's largest electronic database for legal and public-records related information
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.
Browse marketing analysis of more brands and companies similar to LexisNexis. This section covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of more than 2500 brands from over 20 industry sectors.
The brand names and other brand information used in the SWOT Analysis section are properties of their respective companies. The companies are not associated with MBA Skool in any way. Edit the brand or add a new one to SWOT Analysis section : Contribute