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Honda SWOT Analysis

Strengths, Weaknesses, Opportunities, Threats

Chris Marpo

on 13 January 2012

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Transcript of Honda SWOT Analysis

S T R E n g T h W E A K n E s s

o T p P O R T U N I
t y H r e a t Analysis Honda 87% of Honda vehicles were manufactured in the US in 2010 Honda Accord is currently a top 20 vehicle sold in the US Loyalty rate of 62% They have a large advertising budget of $700-800 million. The 2011 Accord was named Best Resale Value in
its class by Kelly Blue Book's kbb.com For a record 25th time the Accord has been named one of the 10 Best Cars by Car and Driver magazine Does not have a strong social media presence, 10,700 twitter followers. (Toyota has 35,000) Honda Accord does not have a Hybrid model Match its competitors by joining
the hybrid market Strong
Competition Competitors include Toyota Camry, Ford Fusion, Nissan Altima Sedan, Chevrolet Malibu, and Hyundai Sonata "People 60 and older make up over 50 million people in the U.S. and represent almost 40 percent of all new vehicle buyers" With Honda's large advertising budget of $700-800 million, they have ample resources to promote the new Honda Accord Rising gas prices “Historically, automakers have found targeting the needs of the younger generation to be more exciting than thinking about developing new features and innovations to address the needs of an aging car buyer,” states Jim Thomas, RDA senior vice president Therefore... Marketing towards people 60 and older could prove extremely successful New Accord will have more personal and new communication technology, as well as a new engine. Thus, increasing Honda Accord's competitiveness Hybrid Market Share Increase Enhance Social Media Presence Honda Accord does not a Hybrid model
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