Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of Myspace analyses the brand by its strengths, weaknesses, opportunities & threats. In Myspace 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 Myspace to benchmark its business & performance as compared to the competitors. Myspace is one of the leading brands in the media & entertainment sector.
The article below lists the Myspace SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Myspace SWOT Analysis:
For Myspace, 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 Myspace 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 Myspace :
1. Celebrity profiles are credible on MySpace
2. A good platform for entertainment and music
3. Myspace can function as a platform to share videos and photos
4. It provides customized profile appearance to users
5. Available in over 15 languages globally and has over 50 million visitors
6. Myspace has close to 1 billion registered members on the website
7. Users can also play various online radio channels offering a wide variety of music
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 Myspace SWOT Analysis:
1. Myspace lost significant market share to competing social media websites and smartphone apps
2. The website has been prone to data leaks and breach of privacy
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 Myspace SWOT Analysis:
1. The markets devoid of internet can be tapped as future markets
2. To have more credible celebrity profiles to engage & attract users
3. Myspace can integrate with more telecom operators or similar companies
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 Myspace are as mentioned:
1. Competitors present in market can affect the business operations of Myspace
2. New upcoming social networking websites
3. Fake accounts and data leaks can lead to loss of trust of the brand
There are several brands in the market which are competing for the same set of customers. Below are the top 10 competitors of Myspace:
Myspace is a social networking websites which can function as a platform to share music and videos. It also has credible celebrity accounts
Internet utilizing computer users
Youth inclined towards internet usage and Business advertisers
Myspace is positioned as an efficient social networking website to stay connected with friends and share videos and photos
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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