Asics is a sportswear and athletic product offering a Japanese multinational company. Kihachiro Onitsuka founded the sportswear company in 1977. Today, we’ll discuss the SWOT analysis of Asics; it outlines strengths and weaknesses; opportunities and threats that the company has to face; a business strategy analysis example company.
Products and services portfolio of Asics
- Sportswear
- Clothing
- Sneakers
- Footwear
- Sports Accessories
Subsidiaries of Asics
- Runkeeper
- Race Roster
Statistical facts and figures of Asics
- Annual revenue: 484.6 billion Japanese Yen (2023)
- Net income: 19.9billion Japanese Yen (2023)
- Employees: 8900
- Network: 1900retail chain stores
Competitors of Asics
- Brooks
- Nike
- New Balance
- Under Armour
- Fila
- Puma
- Reebok
- Adidas
The SWOT analysis of Asics would analyze the internal strengths and weaknesses of the company; and external opportunities and threats that the brand has to face. Here’s Asics SWOT analysis as a business strategy analysis example company as follows;
Strengths of Asics
Some of the main internal strengths in the Asics SWOT analysis example company as business strategy analysis are as follows;
Large Network
Asics has established a very large market comprising of approximately over 1900 retail chain stores in various countries across the globe. The large market network amplifies the customer market reach, influence, and network of the brand to directly connect with the end consumers.
Portfolio
Asics has a very large and diversified product portfolio. It comprises a wide range of sportswear products and goods like T-shirts, clothing and apparel, footwear, and accessories. The large product portfolio helps the brand to target various segments of the customer market with diverse needs and requirements.
Innovation Leader
ASICS invests a significant amount of capital resources in research and development. It allowed the sportswear brand to become the market leader when it comes to innovative and creative products and goods. As a result, it helps the company to gain a competitive edge in the market.
Marketing
Asics is highly proactive in running various types of marketing and advertisement campaigns for the promotion of its products and brands. For instance, the sportswear brand has sponsored various mega sporting events and they give significant brand exposure to the brand.
Brand Recall
Asics collaborates with various sports influencers, celebrities, and public figures and it helped the company to increase its brand recall rate to a great extent.
Strong Finances
Asics has an annual revenue of approximately 485 billion Japanese Yen in 2023. The solid financial backing allows the sportswear brand to take on various types of product growth initiatives, enter new markets, and handle any type of market fluctuation.
Weaknesses of Asics
Some of the main internal weaknesses in the Asics SWOT analysis example company as business strategy analysis are as follows;
Poor Working Condition
The consumer market has become highly careful and cautious about social and environmental sustainability. The working conditions of Asics Productions and manufacturing factories are very poor and bad; it is negatively impacting the brand reputation and image of the company.
Wrong Market Targeting
Asics has marketed its sportswear products and accessories in those markets and countries where people spend money specifically on sportswear. It negatively impacted the company’s revenue and capital resources without delivering any solid and proven results.
Opportunities for Asics
Some of the main available opportunities in the Asics SWOT analysis example company as business strategy analysis are as follows;
Market Expansion
Asics should expand its sportswear business network into new regions, countries, and markets across the world. The global market holds great growth potential for the sportswear business; it helps the company increase its network, influence, and sales.
Portfolio Expansion
Along with market expansion, Asics should expand its product and service portfolio by launching new sportswear products and accessories lines. The portfolio expansion allows the sportswear brand to target new segments of the customer market with diverse needs and requirements.
Strategic Alliance
Asics should develop strategic alliances and partners with other sportswear brands. The joint venture and collaboration of resources lead the brand to develop new products and enter new markets.
Threats to Asics
Some of the main potential threats in the Asics SWOT analysis example company as business strategy analysis are as follows;
Competition
Asics is facing tough competition from other competitive brands like Nike, Adidas, Puma, and Reebok. They all have established a strong market share and a very loyal database of customers; their market presence is negatively impacting the sales and profitability of the company.
Economic Recession
Sportswear products and goods are luxury items and people can exercise in normal clothes and footwear. The global economy is going through a recession with reduced employment and growth opportunities. When people have limited finances, they won’t spend it on luxury items.
Conclusion: Asics SWOT Analysis Example Company |SWOT Analysis of Asics |Business Strategy Analysis
After an in-depth study of the swot analysis of Asics; we have realized that Asics is the world’s leading Japanese sportswear brand. If you are learning about Asics SWOT analysis example company; then you should keep in mind the abovementioned internal strengths and weaknesses; external opportunities and threats as brand strategy analysis.
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Ahsan Ali Shaw is an accomplished Business Writer, Analyst, and Public Speaker. Other than that, he’s a fun loving person.
