Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of Everland analyses the brand by its strengths, weaknesses, opportunities & threats. In Everland 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 Everland to benchmark its business & performance as compared to the competitors. Everland is one of the leading brands in the tourism and hospitality sector.
The article below lists the Everland SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Everland SWOT Analysis:
For Everland, 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 Everland 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 Everland :
1. It is South Korea’s largest theme park and enjoys a very strong attendance 2. It is the pioneer in Korea in the concept of amusement parks/theme parks and has won several awards for their different services. 3. It has a very strong parent company; the brand is very strong financially 4. It has a wide range of attractions and shows that would appeal to all age groups
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 Everland SWOT Analysis:
1. It doesn’t have a very strong brand presence outside South Korea. 2. South Korea is not traditionally a very popular global tourist destination; this adversely affects the number of international visitors.
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 Everland SWOT Analysis:
1. It can take advantage of its association with a strong brand like Samsung. 2. Theme Parks is a growing industry and Asia is considered to be an attractive market. 3.Through effective marketing campaigns, it can try to attract international tourists.
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 Everland are as mentioned:
1. Intense rivalry from local competitors. 2. In the absence of constant innovation, Everland would lose its appeal. 3.The demographics of South Korea are not favourable; South Korea has a rapidly ageing population.
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Everland:
1. Seoul Land, South Korea 2. Seoul Grand Park, South Korea 3.Lotte World, South Korea
Families and youth staying in the surrounding areas
Providers of comfortable and pleasurable holidays 365 days a year
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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