OTIS Elevator Company SWOT Analysis, Competitors & USP
Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of OTIS Elevator Company analyses the brand by its strengths, weaknesses, opportunities & threats. In OTIS Elevator Company 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 OTIS Elevator Company to benchmark its business & performance as compared to the competitors. OTIS Elevator Company is one of the leading brands in the transport and logistics sector.
The article below lists the OTIS Elevator Company SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the OTIS Elevator Company SWOT Analysis:
For OTIS Elevator Company, 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.
OTIS Elevator Company Strengths
The strengths of OTIS Elevator Company 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 OTIS Elevator Company :
1. Installed elevators in some of the world's most famous structures like Eiffel Tower, WTC , Petronas Twin Towers, Burj Khalifa etc 2. Acclaimed brand worldwide 3. Services available in more than 200 countries 4. Continuous investment in new products, technologies and intelligent systems
5. Barriers to entry is relatively high
6. Over 60,000 people are employed with the organization
OTIS Elevator Company 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 OTIS Elevator Company SWOT Analysis:
1. Competition from big players as well as local players means limited market share
2. Accidents in the past have hurt the brand image
OTIS Elevator Company 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 OTIS Elevator Company SWOT Analysis:
1. Strong growth in Brazil,India, China and other strong Asian countries. The company should capitalize on the growth opportunities because of stagnation in relatively developed markets 2.With a strong history, Otis has vast R&D resources and continually keeps on implementing new technologies
3. Tie-ups with real-estate & construction companies can boost business
OTIS Elevator Company 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 OTIS Elevator Company are as mentioned:
1. Strong competition - Many competitors of Otis are equal in size with almost similar resources and experience
2.Though Otis invests heavily in R&D , other companies replicate the technology and thus hurt Otis
OTIS Elevator Company Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 4 competitors of OTIS Elevator Company:
World's largest manufacturer of elevators and escalators
OTIS Elevator Company STP
Builders & Contractors
Businesses that require elevator and escalator solutions
Enables people to move safely with best service and support
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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