The SWOT analysis (abbreviation for Strengths, Weaknesses, Opportunities and Threats) is an essential tool in marketing for understanding and supporting decision-making in all kinds of situations in business and organisations. In brief, it provides an accurate context for studying strategies, positions and directions of a company proposition. It is used mainly for business planning, competitor evaluation, marketing, business and product development and research reports. SWOT analysis is also a widely recognised method for gathering, structuring, presenting and reviewing extensive planning data within a larger business or project planning process. (Chapman, 2014) The SWOT analysis conducted for Timberland, LLC and its casual line, the
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As my primary research suggested in the previous assignment, people tend to buy more shoes that remotes a traditional style than the colourful ones.
WEAKNESSES The weaknesses of a product or company refers to characteristics that sets it at a disadvantage position over its competitors. The weaknesses segment will help to pinpoint areas that the company can improve. Likewise the strengths, it is a factor that happens internally and currently.
• Price – The prices of Timberland products are considerably expensive when compared to direct competitors such as UGG and Clarks, and even more expensive than the average footwear retailers;
• Location – Timberland does not have as