Hankook SWOT Analysis
Here is a detailed SWOT analysis of Hankook covering strengths, weaknesses, opportunities and threats.
Hankook Strengths
- Company was Korea’s first tire manufacturing company and has been the largest manufacturer of tire since its inception in 1941
- They have global reach with its tires being sold in more than 180 countries of the world
- They are a rapidly growing company with increasing annual growth
- Company is known for its excellent technology and believes in continuous innovation through its 5 R & D centers
- They have 5 plants at present in three countries and have capacity projects in China and Indonesia
- Company has healthy financial position.
- Wide range of portfolio helps company satisfy varied demands of the customers all over the world.
Above are the strengths in the SWOT Analysis of Hankook. The strengths of Hankook looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
Hankook Weaknesses
- They have less visibility in emerging economy like India, Brazil
- Lack of diversification
These were the weaknesses in the Hankook SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
Hankook Opportunities
- They have growth opportunity in emerging economies like India, China, Brazil etc.
- Opportunity to diversify more strategically to mitigate the risk of putting all the eggs in one basket
- Opportunity to improve its market share in motorbike category
- Communicating their eco-friendly approach and improving visibility in market
Above we covered the opportunities in Hankook SWOT Analysis. The opportunities for any brand can include prospects of future growth.
Hankook Threats
- There is Stiff Competition from national and international brands.
- European economy is not growing and has reached a maturity phase but it has its max sales in European
- Government Policies w.r.t export duties, import duties, tax levied on automobile industries and economic condition of nation as it determines the sale of automobiles.
- Introduction of other transport facilities like metro, monorails and local trains keeping pollution hazards caused by combustion of automobile fuels
The threats in the SWOT Analysis of Hankook are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
Hence this concludes the Hankook SWOT analysis.
Read Similar SWOT analysis
- Goodyear SWOT Analysis
- Michelin SWOT Analysis
- Bridgestone SWOT Analysis
- Continental SWOT Analysis
- 0. Dunlop Tyres Ltd.
About Hankook
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| Hankook Overview | |
|---|---|
| Parent Company |
Hankook Tires |
| Category |
Tyre Industry |
| Sector | |
| Tagline/ Slogan |
Driving Emotion |
| USP |
Hi-technology and continuous innovation with global operations to fulfill varied demands of customer’s world over. |
| Hankook STP | |
| Segmentation |
Automobile industry |
| Target Market |
Passenger car, winter, truck, and bus tires, automobile and equipment using micro-HEV batteries and batteries for renewable energy storage; industrial-use brakes; and steel belt cutters, bead winners, tire builders and curing press for tire manufacturing industries. |
| Positioning |
Leading Global Tire Company, Excellent quality, customer-oriented approach |
Browse marketing analysis of more brands and companies similar to Hankook. This section covers SWOT Analysis along with Segmentation, Target Market, Positioning & USP of more than 2000 brands from over 20 industry sectors.
Continue Reading:
The brand names and other brand information used in the SWOT Analysis section are properties of their respective companies. The companies are not associated with MBA Skool in any way.
Edit the brand or add a new one to SWOT Analysis section : Contribute
