Costa Cruise SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of Costa Cruise, 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 Costa Cruise to benchmark its business & performance as compared to the competitors, and make strategic improvements. Costa Cruise is one of the leading brands in the tourism and hospitality sector.
The article below lists the Costa Cruise SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Costa Cruise SWOT Analysis:
In this article:
For Costa Cruise, 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 Costa Cruise 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 Costa Cruise :
1. Being part of such a large company it has significant cost advantage over its competitors
2. Known for tons of entertainment onboard the cruise ship, christened “Fun Ships”
3. Global presence with 25 ships with more to be inducted
4. Over 250+ different destinations worldwide and 60 embarkation ports
5. Operations in Mediterranean, Northern Europe, Caribbean, Central America, South America, Indian Ocean, Far East and Africa as well as Grand Cruises and Around the World cruises, that allow guests to visit different continents in a single holiday
6. Very high customer satisfaction, majority of the passengers served were satisfied
7. Excellent brand presence and marketing due to strong parent brand
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 Costa Cruise SWOT Analysis:
1. Cases of accidents in the past have affected the brand image
2. Intense competition and very less service differentiation as compared to all cruise liners
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 Costa Cruise SWOT Analysis:
1. Expansion from Cruise line to Luxury Liners, which will give higher margins as well as elite customers
2. Addition of more ships will help the company to address the rising demand for cruise services across the world
3. Merge with other smaller players to increase number of ships and capture higher market share
4. Very low market penetration in Asia of cruise liners and growing demand for luxurious vacations especially in China
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 Costa Cruise are as mentioned:
1. Carnival Corporation the parent company of Costa Cruise has been allegedly taking advantage of tax loophole which has enabled it to avoid paying US corporation taxes till now, new tax regulations could change that
2. Increasing awareness about environment and newer environmental regulations could eat into company’s profits
3. Accidents can affect the brand image and business
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Costa Cruise:
1. Royal Caribbean Cruise line
2. Star Cruise Line
3. MSC Cruise
Hence this concludes the Costa Cruise SWOT analysis.
Continue reading more about the brand/company.
|Costa Cruise Overview|
Carnival Corporation & Plc
Cruise ship holiday and vacation
Cruising Italian Style
Part of Carnival Corporation & Plc, world’s leading cruise ship operator
|Costa Cruise STP|
Vacation goers, casual tourists
The elite class who like to travel in luxury
Best of Italian hospitality, cuisine and entertainment around the world
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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