Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of Humana analyses the brand by its strengths, weaknesses, opportunities & threats. In Humana 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 Humana to benchmark its business & performance as compared to the competitors. Humana is one of the leading brands in the pharma and healthcare sector.
The article below lists the Humana SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Humana SWOT Analysis:
For Humana, 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 Humana 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 Humana :
1. Diverse lines of business position 2. History of innovation and strategic alliances 3. Strong presence among the competitors 4. Comprehensive set of products and policies
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 Humana SWOT Analysis:
1.Financially weak compared to competitors 2. Very competitive industry with strong competitors 3. Low membership levels and Low growth rate compared to industry benchmark
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 Humana SWOT Analysis:
1.Favourable demographics in future 2.Use of technology in R & D to create market specific products 3.Expansion across different geographies
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 Humana are as mentioned:
1.Rising cost of healthcare 2.Possibility of price wars 3.Rising unemployment and government interventions
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Humana:
Accident and Health insurance ; Medical Service plans
Seniors , Military members and self employed individuals
Different positioning to different target group. For military members –High quality cost effective and accessible health care services
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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