Honda SWOT Analysis, Competitors & USP
SWOT analysis of Honda analyses the brand by its strengths, weaknesses, opportunities & threats. In Honda 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 Honda to benchmark its business & performance as compared to the competitors. Honda is one of the leading brands in the automobiles sector.
The article below lists the Honda SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Honda SWOT Analysis:
In this article:
SWOT Analysis of Honda
For Honda, 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.
Honda Strengths
The strengths of Honda 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 Honda :
1. Honda is one of the largest automobile manufacturer in the world selling cars in over a 100 countries
2. Excellent branding, advertising and after sales servicing
3. Honda has over 200,000 employees globally
4. Production System that is refined over the years along with High and powerful research and development R&D
5.High brand equity and brand loyalty amongst customers
6. Honda Motors has a strong presence in motorsports like F1
7. Eco-friendly Honda Prius enhanced the brand image
8. The brand has excellent marketing and advertising campaigns across the world
9. Honda has invested in building hybrid cars, robots, aircrafts, ATVs & more
10. The brand has a strong online presence through its social media presence, online ads & digital marketing
11. The company has more than 1 million sales in the USA every year
12. The global production by Honda Motors is more than 5 million units
Honda 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 Honda SWOT Analysis:
1. Intense competition in the automobile segment means limited market share growth
2. Honda had to recall a few of their models for corrective measures which caused a lot of hue and cry
Honda 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 Honda SWOT Analysis:
1. Developing hybrid Honda cars and fuel efficient cars for the future
2. Tapping emerging markets across the world and building a global brand
3. Fast growing automobile market can be used by Honda to increase their business
Honda 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 Honda are as mentioned:
1. Government policies for the automobile sector across the world can hurt international business of Honda cars
2. Ever increasing fuel prices can disrupt sales of cars
3. Honda's business can be affected by intense competition from global automobile brands
4. Substitute modes of public transport like buses, metro trains etc.
Honda Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 12 competitors of Honda:
1. Chevrolet
2. Toyota
4. Hyundai Motors
5. Fiat
8. Tata Motors
9. Skoda Auto
10. Volkswagen
11. Ford
12. Volvo
Hence this concludes the Honda SWOT analysis.
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About Honda
| Honda Overview | |
|---|---|
| Parent Company |
Honda Motor Company |
| Category |
Sedans, Hatchbacks, SUV’s, Motorcycles |
| Sector | |
| Tagline/ Slogan |
The Power of dreams |
| USP |
Honda offers designer, comfortable and luxury cars at affordable prices |
| Honda STP | |
| Segmentation |
Complete automobile segment including hatchbacks, sedans & SUV’s |
| Target Market |
Young executives from the upper-middle income bracket |
| Positioning |
Honda is positioned as an innovative brand making luxury eco friendly cars with the future in mind |
| Honda Product Portfolio | |
| Brands |
1. Honda Accord 2. Honda City 3. Honda Civic 4. Honda CRV 5. Honda Jazz 6. Honda CBR The above mentioned brands are the prominent products under the Honda product portfolio. |
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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