Chopard SWOT Analysis
Here is a detailed SWOT analysis of Chopard covering strengths, weaknesses, opportunities and threats.
Chopard Strengths
- Chopards latest ‘Time check’ campaign subtly integrates the brand values and ensures good product placement
- The Chopard brand is fully manufactured in house which ensures highest standards of quality
- Furthering its glamorous and exquisite image the brand is the Official partner of the Cannes film festival festival
- High quality product and good brand presence
- Good online presence of the Chopard watches and jewelry product through its website & ecommerce portals
- Strong legacy of the brand since its inception in 1860
- Chopard has been associated with prestigious film festivals, motor car racing events etc
Above are the strengths in the SWOT Analysis of Chopard. The strengths of Chopard looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
Chopard Weaknesses
- Watch makers that are also jewellery brands do not give a strong positioning of being watch making experts. This works negatively for the brand
- Chopard have limited brand presence as compared to the some of the more popular luxury watch brands
These were the weaknesses in the Chopard SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
Chopard Opportunities
- Chopard brand is yet to fully explore its potential in developing economies
- The brand can extend its glamorous image in marketing campaigns to film awards and festivals across the world to gain higher visibility
- The company can utilize online portals and ecommerce for more business
Above we covered the opportunities in Chopard SWOT Analysis. The opportunities for any brand can include prospects of future growth.
Chopard Threats
- Chopard's competitors having more brand recall can pose a threat in terms of brand switching
- More and more people are choosing their cellphones as a substitute to watches
- Fake & counterfeit products carrying the same brand name selling in black markets
The threats in the SWOT Analysis of Chopard are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
Hence this concludes the Chopard SWOT analysis.
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About Chopard
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| Chopard Overview | |
|---|---|
| Parent Company |
Chopard |
| Category |
Watches and Accessories |
| Sector | |
| Tagline/ Slogan |
The passion for excellence |
| USP |
Chopard offers exquisite handmade luxury timepieces |
| Chopard STP | |
| Segmentation |
Luxury watches segment |
| Target Market |
High Income group men and women |
| Positioning |
Chopard offers elegant watches that are artistically adorned with precious stones |
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