Anthem Blue Cross and Blue Shield SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of Anthem Blue Cross and Blue Shield, 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 Anthem Blue Cross and Blue Shield to benchmark its business & performance as compared to the competitors, and make strategic improvements. Anthem Blue Cross and Blue Shield is one of the leading brands in the pharma and healthcare sector.
The article below lists the Anthem Blue Cross and Blue Shield SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Anthem Blue Cross and Blue Shield SWOT Analysis:
In this article:
For Anthem Blue Cross and Blue Shield, 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 Anthem Blue Cross and Blue Shield 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 Anthem Blue Cross and Blue Shield :
1. Brand value of Anthem Inc. and Wellpoint health networks Inc. brought together
2. Diverse and broad portfolio of integrated health care plans and related services
3. Rapid expansion in last decade through merger and acquisition
4. Highly satisfied customers, positively reviewed and well rated
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 Anthem Blue Cross and Blue Shield SWOT Analysis:
1. Has been in news for controversies especially in 2009 and 2010
2. Low interest rate scenario in the US hurts the profitability of insurers in the US
3. Unable to secure customer data from hackers, 37.5 million records were recently stolen from database
4. Since 2013 dip in insurance penetration i.e. insurance premiums as a percentage of GDP
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 Anthem Blue Cross and Blue Shield SWOT Analysis:
1. Further expansion by acquisitions to ensure complete range of managed healthcare services
2. Banking upon market leadership in US to expand into new markets
3. More product offering and services and trying to attain first mover advantage in certain segments
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 Anthem Blue Cross and Blue Shield are as mentioned:
1. Brand equity may be adversely affected by multiple controversies
2. Highly competitive market makes maintaining market share a major challenge
3. Threat of data breach may lead to apprehension in mind of consumers
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Anthem Blue Cross and Blue Shield:
2. Centene Corporation
Hence this concludes the Anthem Blue Cross and Blue Shield SWOT analysis.
Continue reading more about the brand/company.
|Anthem Blue Cross and Blue Shield Overview|
Together, we are transforming health care with trusted and caring solutions
Focus on day-to-day execution and capitalizes on new opportunities to drive growth
|Anthem Blue Cross and Blue Shield STP|
Families and businesses
Health and specialty programs customized for each customer segments
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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