SWOT Analysis Of Hot Wheels analyzes, Hot Wheels is a brand of die-cast toy cars introduced by American toymaker Mattel in 1968. It was the primary competitor of Matchbox until 1997, when Mattel bought Tyco Toys, former owner of Matchbox. The Hot Wheels creative line of toys was designed for children and young adults who wanted something different in the way of miniature die-cast cars. Hot Wheels changed the culture among many children and created many new fans as well. They were highly popular toy cars with great features such as the red line tires. Even myself as a child, I thought they were great looking toy replicas.
Did you know?
Mike Zarnock, an auto mechanics teacher in Utica, New York, holds a Guinness World Record for the largest collection of unique Hot Wheels cars — currently 30k.
Hot Wheels was born when Mattel co-founder Elliot Handler (shown left, with wife and Mattel co-founder Ruth Handler) challenged his design team, which included a General Motors car designer and a rocket scientist to create a toy car that was cooler and performed better than anything on the market.
This can only be achieved through a firm with extensive knowledge, experience and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities and threats, it is necessary to conduct an SWOT analysis by Hot Wheels.
Hot Wheels At A Glance – Hot Wheels SWOT Analysis
Founders: Elliot Handler | Ruth had
Year of establishment: May 18, 1968
CEO: Ynon Kreiz
Headquarters: El Segundo, CA.
Employees (Dec 2020): 151
Ticker Symbol: MAT
Annual Revenue (Dec 2020): US$954.2 Million
Profit net income (Dec 2020): US$316.0 Million
Products & Services: Hot Wheels Toys And Games | Accessories | Gift sets
Company Website: hotwheels.mattel.com
Top Hot Wheels Competitors
Competitors: Brooklin Models | Western Models | Enchantment Land | Durham Classics
Hot Wheels SWOT Analysis – SWOT Analysis Of Hot Wheels
SWOT Analysis Of Hot Wheels analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With Hot Wheels SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about Hot Wheels SWOT Analysis. Below Is The Detailed SWOT Analysis Of Hot Wheels.
Hot Wheels Strengths – Hot Wheels SWOT Analysis
- Brand recall is very high.
- Organizes contests for car enthusiasts which increase brand loyalty.
- Has books and movies dedicated to the brand.
- Has a presence all over the world.
- Wide range of products for the customers to choose from.
- Excellent branding through TVCs and print ads.
Hot Wheels Weaknesses – Hot Wheels SWOT Analysis
- Not too many car accessories not available.
- Can be easily imitated.
Hot Wheels Opportunities – Hot Wheels SWOT Analysis
- Can add more car accessories.
- Can add more product lines to its portfolio.
Hot Wheels Threats – Hot Wheels SWOT Analysis
- Other retail toy stores.
- Outdoor games.
- Computer games.
Hot Wheels SWOT Analysis Overview Template
SWOT Analysis Template Of Hot Wheels Is Not Available As It Is Sub Brand Of Mattel. You Can Check The SWOT Analysis Template Of Mattel Below.
This is the SWOT report that Hot Wheels has done. Please let us know if you have additional suggestions to add.
Let us know What do you think? Did you find the article interesting?
Write about your experiences and thoughts in the comments below.