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"A SWOT analysis is a planning tool which seeks to identify the Strengths, Weaknesses, Opportunities and Threats involved in a project or organisation" - (2022, Royal charter)
A SWOT analysis highlights the strengths, weaknesses, oppurtunities and threats that the business have at this current time, this is a key part of a business plan in order to determine how successful each brand/ company is.
Strengths:
Brand recognition: As Ariat has been a popular brand since 1993, this has built a good reliable reputatation of the brand as there have been many satisfied customers globally, which leads to good feedback about the quality of the products sold.
Global shipping: Ariat ships to over 23 countries, this gives them a big advantage as its a easily accessable brand which many people are able to get hold of and purchase. This also increases they're target market as many others that may not be able to get other brand within their country may buy from Ariat instead.
Weaknesses:
Cost: Due to Ariat being a high quality brand the products are more expensive due to them being a higher quality they cost more to manifacture, therefore meaning the sale price needs to be higher. This can make the accsessability for some people harder as they may not be able to afford the products they sell and have to opt for something cheaper.
Not and independant retailer: This can limit Ariat, as although they sell through other equine retailers whereas if they had they're own shops in different countries they may be able to generate more recognition to the variety of products they sell which in other retailer shops may be limited.
Opportunities:
Online stores: Having an online store opened up the target audiance to Ariat and has overall had a positive impact towards Ariat, this is due to many people having accsess to the internet and being able to easily and conviently purchase products online.
Sponsership/ partnerships: With Ariat being a big, well known brand they have lots of partnerships and sponserships, they sponser individual riders, at a high level, as when they are competing it enables more people to see the brand as the riders are representing them and will be wearing some of the clothing/ equipment the Ariat provide for them.
Threats:
Brexit: As of 2020, Brexit has had a big impact on the way companies work and run, this is as the shipping times have been affected as well as the overall transportation times of goods. Before this time the uncertainties of brexit also caused issues as people were unsure of how much it would affect companies.
Rising costs: Leading on from Brexit, rising costs Ariats products are already more expensive than some other competitors but with the rising cost prices this is only likely to increase the manifacturing prices, leading to the sell price having to be increased which can limit Ariats target audiance further.
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