SWOT Analysis of Good Day Biscuits focuses on Strengths, weaknesses, opportunities, and threats. Strength and Weakness are the internal factors and Opportunities and Threats are the external factors that influence the SWOT Analysis of Good Day Biscuits.
Strengths are defined as the best thing every company does in its range of activities that can give it hold on its competitors. Weaknesses are used in areas in which improvement of the business or brand is necessary. Opportunities are the environmental avenues around the enterprise that can be used to increase its income. Threats are environmental factors that can adversely affect business growth.
Good Day Biscuits are a popular biscuit brand owned by the over 128-year-old Britannia Industries company. The company also owns a wide range of popular sweetshop brands, including Good Day, Marie, Tiger, Milk Bikis, and Nutrichoice. Brittania also covers milk products such as cheese, butter, milk, and yogurt. Britannia has a widespread distribution channel that reaches more than 5 million retail outlets sells Good Day across India.
Good Day Biscuits are popular for their rich taste and texture. Good Day is also popular among the People in UAE, Europe, North America, South East Asia, and Africa, but they are not prominent in these markets. Surveys in various research show that Good Day is one of India’s most trustworthy cookie brands.
Strength in the SWOT Analysis of Good Day Biscuits – Good Day Biscuits SWOT Analysis
- Strong Distribution Channel: Good Day is sold in more than 100 cities throughout India, with 5 million retail outlets, and more than 62% of the family in the area. Moreover, the brand is also sold throughout the world in more than 60 countries.
- Various types of biscuits: Good day biscuits, which are popular in cashew, butter, and nutty variants, are available. Modeled on a cookie, the brand can distinguish itself from the rich taste of a cookie and not a biscuit, but its texture.
- Smile’s concept: Good Days have built a strong association with happiness and smile by their name, promotional campaigns, and advertisement and design and form. A new package, in which the cookie is placed as a smiley face is also recently launched.
- Production: Britannia Industries recently made some changes from the previous strategy to start production of its own products, in which everything was outsourced. This can help him keep the signature recipes and make the product as indigenous as possible.
- Market Share: Britannia holds a 30% market share of the Indian biscuit market. Good Day is No. 1 Player in Cookie Biscuit Segment.
- High Product Recall: Good Day has a high brand recall due to its aggressive advertising and brand name.
- Brand Name of Britannia: Brand Name of Britannia is associated with Good Day Biscuits. In the year 1892 Britannia was started in a small house situated at central Calcutta (now Kolkata) as a bakery that makes delicious golden brown biscuits. Britannia makes biscuits for British Officers in British Raj and their families, people who used English tea-time snacking to high standards. Britannia has served Indian consumers with its wide range of rich flavor, fresh and nutritious biscuits. Britannia is today India’s leading food company with more than Rs. 6000 crores of revenue, providing more than half of the Indian population with a wide range of products available across 3.5 million retail outlets.
- Strong Financial Backing: Good Day Biscuits have the backing of Britannia with a revenue of 1.5 Billion Dollars, Net Income is 1660 Million US Dollars.
- Large Employee Base: Britannia has an employee base of 4480. This has lead to the continuous production of Good Day Biscuits.
Weaknesses in the SWOT Analysis of Good Day Biscuits – Good Day Biscuits SWOT Analysis
- Cost: Good day biscuits are made from rich, cost-intensive ingredients such as cashew and butter. However, the prices of biscuits cannot be higher because they are already at a premium level. This can ultimately prove to be a challenge for the firm.
- More concentration on milk production: Although Brittania Industries has always been in the Biscuit industry, the company now focuses more on dairy products like butter and cheese. The increase in the dairy industry may in the long term affect the clothing companies such as Good Day.
- Lethargy to change: The Good Day brand hasn’t changed its look or feel since the very beginning of the year, and taste is consistent. Although the recent effort to promote the brand with a smiley face has been a small rebranding, there is still ample room for change.
Opportunities in the SWOT Analysis of Good Day Biscuits – Good Day Biscuits SWOT Analysis
- Demand for low-calorie products has risen: the good day was always a rich taste, but today the client is aware of calories and looks for healthy cookies that are low in sugar and calories. This can allow ample scope for the cookie-inspired biscuit for new healthy variants.
- Lifestyle Change: Changing lifestyles and the demand for healthier food products: increased literacy rates, health education, evolving lifestyles, and rising disposable incomes are influencing the market for healthy food products.
- Overseas Market: extending its business to another international market will enable the company to become a global player in food products.
- Opportunity to capture Rural Markets: Britannia can tap Rural Markets for Good Day biscuits.
- Use of Social Media and Modern Trade: Britannia can promote its products on Social Media and use Modern Trade Channels for increasing its sales.
Threats in the SWOT Analysis of Good Day Biscuits – Good Day Biscuits SWOT Analysis
- The threat of substitution: sugar-based cookies and biscuits may face the threat of organic, sugar-free, and low-calorie biscuits being replaced. There is also a risk that people will stop eating stores and start baking cookies for themselves.
- Competition: Good Day is also facing competitions from SunFeast, Parle, and so on, other than internal brands such as Marie, Nutri Choice, and Milk Bikis.
- Laws and Regulations: Government Rules and Regulations can also directly or indirectly affect the sales and production of the company.
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