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 a SWOT analysis by KitchenAid.
KitchenAid At A Glance – KitchenAid SWOT Analysis
Company: Whirlpool Corp.
Founders: Herbert Johnston
Year of establishment: 1919
CEO: Jeff M. Fettig
Headquarters: Benton Harbor, MI
Employees (Dec 2020): 8,000
Ticker Symbol: WHR
Annual Revenue (Dec 2020): $500 million
Profit net income (Dec 2020): $397 million
Products & Services: Major Appliances | Countertop Appliances | Kitchenware | Bakeware | Culinary Inspiration
Company Website: KitchenAid
Competitors: Oxford Porcelanas | Appliance Factory | Newell Brands | SMEG
KitchenAid SWOT Analysis
SWOT Analysis Of KitchenAid analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With KitchenAid SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements.
KitchenAid Strengths – KitchenAid SWOT Analysis
1. Product Line: KitchenAid manufactures a vast array of kitchen and household appliances. They offer a wide collection of products available in a variety of countries around the globe. It offers more choices in comparison to its other rivals.
2. Top of the Line Home Appliances: KitchenAid is the manufacturer of some of the creative and high-quality kitchen and home appliances. The company currently ranks third in the latest Best 50 Brand Relevance Index for Prophet U.S. This shows what they can offer to satisfy the expectations of its customers. Another brand in this business that made it on the list is Dyson, the British company Dyson that is placed 30th.
3. Logo Image: KitchenAid is owned and operated by Whirlpool Corporation. Whirlpool Corporation has become a well-known international manufacturer of home appliance products. The products they sell are everywhere in the globe. KitchenAid is already a favorite in the US market. As Whirlpool’s subsidiary KitchenAid is also getting international recognition.
KitchenAid’s Weaknesses – KitchenAid SWOT Analysis
1. Intense Competition: KitchenAid is among the most well-known appliances for homes and Kitchenware manufacturers in the US. There are many brands competing for its credibility and brand value. The biggest drawback is that it is only present within the US market. In contrast to its parent company it’s not well-known throughout the globe. However, some competitors on the contrary side have a much higher global recognition. Due to the intense competition, it is unable to expand their market shares.
2. High-end Products only: KitchenAid provides premium appliances for homes exclusively. The best quality comes with a high cost, which a majority of people find difficult to manage.
3. Geographical Limitation: Even though KitchenAid is an international business however, it operates only in a handful of countries. The reason is that either the company doesn’t wish to expand to different countries, or it cannot because of the nature of its competitors already arriving and establishing a presence in those nations.
KitchenAid’s Opportunities – KitchenAid SWOT Analysis
1. Expanding to Emerging Markets: Expanding into emerging markets is an excellent chance for KitchenAid. The world is currently in total shock The post-Covid era will provide endless opportunities and new markets for the home appliance sector. The company just has to identify the best market segment to set its sights on it.
2. The introduction of new products: KitchenAid manufactures most of the household appliances however, not every one. When they make investments in a different product line, it could result in more market share and more recognition from consumers. Particularly, investing in items that are popular and are needed the most now, in the midst of the outbreak.
3. More technology: The company is well-known for its ingenuous and rich in features products. If they can research and apply higher-end technology or are able to learn to use the technology in their existing products, they could improve their profits.
KitchenAid’s Threats – KitchenAid SWOT Analysis
1. Competition: For the last few years, large brands like Sunbeam Products, Kenwood, Dyson, Philips, Panasonic, LG, etc. are innovating their range of household appliances. A few of their competitors have more international recognition, that could pose a threat to an international firm like KitchenAid. This competition is also reducing the amount of shares that the company can hold.
2. Conflicts and Disasters: These two events threaten not only KitchenAid but for many other businesses. KitchenAid was shut closed for seven days throughout World War I also went through the Great Depression, but it didn’t impact the business all that significantly. Now, in the current global economy, it’s suffering losses as a result of the Covid-19 epidemic and the accompanying quarantine lockdowns.
3. Global economic fluctuations: Everything was brought to an end when Coronavirus affected the entire planet. Offices, businesses schools, colleges, everything must stop. The closing down of companies has greatly impacted the world economy to the point of currently threatening all sorts of business sectors.
This is the SWOT report that KitchenAid has done. Please let us know if you have additional suggestions to add.
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