Hot Wheels SWOT Analysis, Competitors & USP

Published by MBA Skool Team, Last Updated: April 12, 2020

SWOT analysis of Hot Wheels analyses the brand by its strengths, weaknesses, opportunities & threats. In Hot Wheels 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 Hot Wheels to benchmark its business & performance as compared to the competitors. Hot Wheels is one of the leading brands in the media & entertainment sector.

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

SWOT Analysis of Hot Wheels

For Hot Wheels, 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.

Hot Wheels Strengths

The strengths of Hot Wheels 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 Hot Wheels :

1. Brand recall is very high
2. Organizes contests for car enthusiasts which increase brand loyalty
3. Has books and movies dedicated to the brand

4. Has a presence all over the world

5. Wide range of products for the customers to choose from

6. Excellent branding through TVCs and print ads

Hot Wheels 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 Hot Wheels SWOT Analysis:

1. Not too many car accessories not available
2. Can be easily imitated


Hot Wheels 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 Hot Wheels SWOT Analysis:

1.Can add more car accessories
2.Can add more product lines to its portfolio

Hot Wheels 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 Hot Wheels are as mentioned:

1. Other retail toy stores
2.Outdoor games
3.Television

4.Computer games

5.Internet


Hot Wheels Competitors

There are several brands in the market which are competing for the same set of customers. Below are the top 4 competitors of Hot Wheels:

1.Brooklin Models
2.Western Models

3.Enchantment Land

4.Durham Classics

Hence this concludes the Hot Wheels SWOT analysis.

Continue reading more about the brand/company.

About Hot Wheels

Hot Wheels Overview
Parent Company

Mattel

Category

Toy Brands and Manufacturers

Sector

Media & Entertainment

Tagline/ Slogan

Go With the Winner

USP

Die cast toy car

Hot Wheels STP
Segmentation

Toy cars

Target Market

Children and adult collectors

Positioning

Hot Wheels has all the adrenaline and speed of car races in scale


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 Hot Wheels. This section covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of more than 2500 brands from over 20 industry sectors.

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