Quest Diagnostics SWOT Analysis, Competitors & USP

SWOT analysis of Quest Diagnostics analyses the brand by its strengths, weaknesses, opportunities & threats. In Quest Diagnostics 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 Quest Diagnostics to benchmark its business & performance as compared to the competitors. Quest Diagnostics is one of the leading brands in the pharma and healthcare sector.

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

SWOT Analysis of Quest Diagnostics

For Quest Diagnostics, 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.

Quest Diagnostics Strengths

The strengths of Quest Diagnostics 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 Quest Diagnostics :

1. Operating more than 2200 patient serve centres in countries like US, UK, Mexico, Brazil, Puerto Rico with a laboratory in India

2. Engages medical and scientific staff of more than 700 M.D.s and Ph.D.s and overall workforce of 45,000 employees.

3. Serves about half of the physicians and hospitals in the U.S.

4. Strong logistics capabilities - 3,000 courier vehicles and 20 aircraft

5. Named to Fortune Magazine's 2015 "World's Most Admired Companies" list in the Health Care industry category of "Pharmacy and Other Services

6. A history of successful acquisitions made it stronger

7. Over 40,000+ people are employed

Quest Diagnostics 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 Quest Diagnostics SWOT Analysis:

1. Intense competition means limited market share growth
2. Large number of employees are needed in this sector which escalates operating costs

Quest Diagnostics 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 Quest Diagnostics SWOT Analysis:

1. Developing Markets like India, China and other Apac nations

2. Horizontal expansion into new therapeutic areas

3. More strategic acquisitions to extend expertise globally

Quest Diagnostics 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 Quest Diagnostics are as mentioned:

1. Government owned Labs offer cheaper diagnostics

2. Changes in healthcare policy framework of different countries

Quest Diagnostics Competitors

There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Quest Diagnostics:

1. American Esoteric Laboratories
2. Labcorp
3. Sysmex Corporation

Hence this concludes the Quest Diagnostics SWOT analysis.

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About Quest Diagnostics

Quest Diagnostics Overview
Parent Company	Quest Diagnostics Incorporated
Category	Clinical Laboratory services
Sector	Pharma and Healthcare
Tagline/ Slogan	The patient comes first
USP	Diagnostic testing services for cancer, cardiovascular disease, infectious disease and neurological disorders
Quest Diagnostics STP
Segmentation	Therapy, Disorder, Demographics, Life Style Disorders
Target Market	Middle aged middle-class and upper class patients as well as leading doctors
Positioning	Trusted leader in many therapeutic areas like cancer and cardiovascular disorders

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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