OTIS Elevator Company SWOT Analysis
Here is a detailed SWOT analysis of OTIS Elevator Company covering strengths, weaknesses, opportunities and threats.
OTIS Elevator Company Strengths
- Installed elevators in some of the world's most famous structures like Eiffel Tower, WTC , Petronas Twin Towers, Burj Khalifa etc
- Acclaimed brand worldwide
- Services available in more than 200 countries
- Continuous investment in new products, technologies and intelligent systems
- Barriers to entry is relatively high
- Over 60,000 people are employed with the organization
Above are the strengths in the SWOT Analysis of OTIS Elevator Company. The strengths of OTIS Elevator Company looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
OTIS Elevator Company Weaknesses
- Competition from big players as well as local players means limited market share
- Accidents in the past have hurt the brand image
These were the weaknesses in the OTIS Elevator Company SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
OTIS Elevator Company Opportunities
- 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
- With a strong history, Otis has vast R&D resources and continually keeps on implementing new technologies
- Tie-ups with real-estate & construction companies can boost business
Above we covered the opportunities in OTIS Elevator Company SWOT Analysis. The opportunities for any brand can include prospects of future growth.
OTIS Elevator Company Threats
- Strong competition - Many competitors of Otis are equal in size with almost similar resources and experience
- Though Otis invests heavily in R&D , other companies replicate the technology and thus hurt Otis
The threats in the SWOT Analysis of OTIS Elevator Company are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
Hence this concludes the OTIS Elevator Company SWOT analysis.
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About OTIS Elevator Company
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| OTIS Elevator Company Overview | |
|---|---|
| Parent Company |
United Technology Corporation |
| Category |
Elevators and Escalators |
| Sector | |
| Tagline/ Slogan |
We'll take you all the way to the top |
| USP |
World's largest manufacturer of elevators and escalators |
| OTIS Elevator Company STP | |
| Segmentation |
Builders & Contractors |
| Target Market |
Businesses that require elevator and escalator solutions |
| Positioning |
Enables people to move safely with best service and support |
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