Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of Princess Cruises analyses the brand by its strengths, weaknesses, opportunities & threats. In Princess Cruises 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 Princess Cruises to benchmark its business & performance as compared to the competitors. Princess Cruises is one of the leading brands in the tourism and hospitality sector.
The article below lists the Princess Cruises SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Princess Cruises SWOT Analysis:
For Princess Cruises, 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.
Princess Cruises Strengths
The strengths of Princess Cruises 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 Princess Cruises :
1. Third largest cruise line in the world
2. Carries 1.7 million guests each year to destinations across the globe
3. 18 ship fleet offers a range of sizes and amenities
4. Destinations include lot of countries and destinations like the Caribbean, Europe, South America, Australia etc,
5. It allows guests to visit many countries in a single vacation
6. It has high customer satisfaction
7. Excellent brand recognition due to very strong parent brand
Princess Cruises 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 Princess Cruises SWOT Analysis:
1. Intense competition 2. Very less service differentiation 3. Accidental cases have affected the business in the past
Princess Cruises 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 Princess Cruises SWOT Analysis:
1. Rising demand of cruise services across the world 2. Low penetration in Asia 3. Joint venture with small players to increase market share
Princess Cruises 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 Princess Cruises are as mentioned:
1. Change in tax regulation could hurt parent brand carnival Corporation 2. New environmental regulations could reduce company’s profits 3. Accidents could affect business and brand image
Princess Cruises Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Princess Cruises:
1. Star Cruise Line 2. Royal Caribbean Cruise Line 3. MSC Cruise
Hence this concludes the Princess Cruises SWOT analysis.
Best hospitality, cuisine and entertainment in the world
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