SWOT Analysis of RADO focuses on (S) Strengths, (W) Weakness, (O) Opportunities, and (T) Threats. Internal Factors Strengths and Weaknesses and External Factors Opportunities and Threats are discussed in this article.
SWOT Analysis is a proven management tool that helps organizations such as RADO to assess the market of RADO Watches and its success against rival companies. RADO has been one of the leading Watch brands for many years.
Rado is a Swiss watchmaking company based in Switzerland and it was founded in 1917. Rado watches are of Premium Range. In 1962, it launched its first scratchproof watch. Today, about half a million watches are made annually with a staff of 470 employees.
Rado is a globally established brand that is known to manufacture elegant, rugged watches because of its creative nature and groundbreaking materials. The Rado watches use components such as Carbide, Ceramics, and Crystal Sapphire. Rado watches have a high-tech ceramic design and have been an important part of the watchmaking process over the last many years.
Core items of design and craftsmanship are high-tech ceramic watches. The finish is sleek and graceful and can be translucent or transparent, created in many colors. Rado watches have a soft glamor style. They are light, hypoallergenic, and very easy to use. Rado company has won several coveted international fashion awards and partners with top designers to produce innovative watches.
It also hosts worldwide competitions for young designers to compete with the Rado Star Prize. Rado’s many bottom-breaking timers are designed from scratch.
Let’s discuss the SWOT Analysis of RADO
Strengths in the SWOT Analysis of RADO – RADO SWOT Analysis
- Guinness Book of World Records – Due to the use of high-Quality diamonds, Rado has marked its presence in Guinness Book of World Records. This has improved its market image by making use of its products technologically revolutionary.
- Awards winner – Rado brand has received numerous prestigious international design awards and is also working together to create new pieces for leading designers. Nearly 30 international awards have been presented to the brand.
- Usage of advanced materials – Rado’s key focus is the use of creative, very wide-ranging materials that are not regulated through their own unique appearance.
- Sports Events Association – Rado brand has been connected to various sporting events, particularly tennis. Rado ‘s presence was assisted by this association.
- Brand Ambassadors – The brand Rado has many films and sports brand ambassadors.
- Good Marketing Strategy – Rado has an excellent marketing and branding approach in online advertising, print media, television and sponsored events.
- Increasing profits – The brand is mainly strengthened by increasing its profits year after year and increasing its turnover each year.
- Performance – The price of the Rado brand is established. It uses advanced technology and mechanisms.
- Rado Star Prize – With its Rado Star Prize contests, Rado is dedicated to its watch design worldwide. These awards aim to help budding designers by offering experts an opportunity to demonstrate their design and creativity.
- Community and number of employees: a member of Swatch Company, which hires 28,000 workers in 50 countries
Weakness in the SWOT Analysis of RADO – RADO SWOT Analysis
- Similar Fake Products – There have been many cases of Rado ‘s fake products on the market. This has hit Rado’s brand identity and therefore is a big market flaw.
- Less Market Share – In the category of luxury watches, the Rado brand sees a lot of competition, as its market share is small.
Opportunities in the SWOT Analysis of RADO – RADO SWOT Analysis
- Expanding the product range – Because Rado has no particular look at its concept and is versatile for a variety of choices, it can extend the product selection without compromising the placement of the brand.
- New Competition – The organization should take advantage of a fresh, growing luxury industry with a huge range of prospective buyers and pursue more growth prospects.
- The company will hook up to another luxury brand in order to improve the demand for its products. It can also be linked to many celebrities and events to boost its market appeal.
- Product improvement-A further increase in the number of products can help to produce more innovative products that gain greater market visibility.
- Joint Venture – Rado Brand can work with other observation companies to expand their businesses.
Threats in the SWOT Analysis of RADO – RADO SWOT Analysis
- High competitors – the Rado brand in the premium clock market has strong competitors.
- Economy change – people tend to spend less on luxury goods in a fluctuating economy. This also represents a serious threat to the company and its income.
- Cheap Rado Imitation – Cheap imitation of the same product made by Rado Company is produced. Customers prefer to buy Rado but do not necessarily think it is. In fact, this is a threat to the brand, which also degrades its brand.
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