Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of Economist analyses the brand by its strengths, weaknesses, opportunities & threats. In Economist 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 Economist to benchmark its business & performance as compared to the competitors. Economist is one of the leading brands in the media & entertainment sector.
The article below lists the Economist SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Economist SWOT Analysis:
For Economist, 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 Economist 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 Economist :
1. It is one of the most popular weekly news magazines in the UK. 2. The magazine was founded in 1843 which makes it one of the oldest magazines in the world. 3. The magazine boasts of a weekly circulation of more than 1.5 million copies. 4. The plain and conversational tone of the magazine has always been appreciated.
5. Popular brand and a good reputation amongst its customer base.
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 Economist SWOT Analysis:
1. The brand still needs to make itself big in certain parts of the world like the Middle East and Asia.
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 Economist SWOT Analysis:
1. By building powerful distribution networks in countries outside UK, the circulation of the magazine can be increased. 2. The magazine’s audio editions and applications on various platforms have the potential to attract a lot of young customers.
3. Although the focus of the magazine is on world news, politics and business, the magazine also covers areas such as technology, science, books and arts, thus widening its potential readership.
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 Economist are as mentioned:
1. With the telecasting of global news channels such as BBC and CNN worldwide, the need for a global news magazine is declining. 2. There are some very popular international brands in the global market that command a lot of brand loyalty. 3. The internet which is a cheaper source of information is proving to be stiff competition to print media.
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Economist:
Students, corporates and academicians in the UK and other parts of the world
A weekly magazine that provides global news
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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