Corvette SWOT Analysis
Here is a detailed SWOT analysis of Corvette covering strengths, weaknesses, opportunities and threats.
Corvette Strengths
- Has been the recipient of several awards being a premium sports car
- The brand manufactures lesser units of the car which helps retain its uniqueness and aspirational value
- It is a strong performer in many racing events
- It has a lineage to it which very few cars have
- The brand is backed by the General Motors group
- The brand keeps on innovating by coming up with stylish high performance concept cars
Above are the strengths in the SWOT Analysis of Corvette. The strengths of Corvette looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
Corvette Weaknesses
- Strong competition from international brands have increased pressure on the brand
- Fluctuating market condition of General Motors has reduced the brand’s performance
These were the weaknesses in the Corvette SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
Corvette Opportunities
- It is yet to explore new markets in term of geography, thus new markets opportunity
- The engine size can either be reduced or re-tuned to generate more power as it has been noticed that it has less power comparatively
- More branding and advertisingto make it a high recall brand
Above we covered the opportunities in Corvette SWOT Analysis. The opportunities for any brand can include prospects of future growth.
Corvette Threats
- Its market share can be taken by the European manufacturers
- People are increasingly preferring eco-friendly & more practical cars rather than cars for pleasure
- Macro-economic factors that are against consumption of luxury goods
The threats in the SWOT Analysis of Corvette are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
Hence this concludes the Corvette SWOT analysis.
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About Corvette
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| Corvette Overview | |
|---|---|
| Parent Company |
General Motors |
| Category |
Sports Car |
| Sector | |
| Tagline/ Slogan |
The Great American Sport Car. |
| USP |
American Sports Car |
| Corvette STP | |
| Segmentation |
People looking for a American Sports Car |
| Target Market |
High & Affluent individuals |
| Positioning |
All American Sports Car |
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