Here is a detailed SWOT analysis of New Balance covering strengths, weaknesses, opportunities and threats.
New Balance Strengths
- New Balance shoes come in various sizes and length for different choices with customization
- New Balance has many other sub brands dedicated for other sportsor other purposes.
- The company has been a part of several philanthropic efforts since past many years
- The company claims their shoe boxes are made of recycled paer and they use environment friendly procedures while making products
- New balance hassponsored teams and players in the Olympics, cricket, Australian Football League and NBA
- The company has a century of expertise in the industry
- Strong brand presence and marketing through online ads, ecommerce platforms etc
- More than 5000+ people are employed with New Balance
Above are the strengths in the SWOT Analysis of New Balance. The strengths of New Balance looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
New Balance Weaknesses
- New Balance has limited market share growth because of global competitors
- Limited presence and marketing in emerging economies
These were the weaknesses in the New Balance SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
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New Balance Opportunities
- New Balance is very well-known brand in US and can leverage that to grow worlwide
- The company can diversify into making sports gear
- High brand saliency and the positive affirmation from consumers has influenced demand in domestic market and the neighboring countries
- Aggressive marketing and online presence can boost the business of New Balance
Above we covered the opportunities in New Balance SWOT Analysis. The opportunities for any brand can include prospects of future growth.
New Balance Threats
- Other brands offer more styles and cuts
- Similar products available in other brands thus switching cost is less
- Threat from other leading competitors can reduce market share for New Balance
The threats in the SWOT Analysis of New Balance are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
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Hence this concludes the New Balance SWOT analysis.
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About New Balance
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| New Balance Overview |
|---|
| Parent company | New Balance Athletic Shoe, Inc. (NBAS) |
|---|
| Category | Apparel and accessories |
|---|
| Sector | Lifestyle and Retail |
|---|
| Tagline/ slogan | Let’s make excellent happen |
|---|
| Usp | New Balance brand is known for its shoes which come in different varieties |
|---|
| New Balance STP |
|---|
| Segmentation | Sport enthusiast men, women& childrenlooking for apparel and shoes |
|---|
| Target group | Young men women and kids from the upper middle class segment |
|---|
| Positioning | Premium athletic footwear and apparel meeting the needs of the everyday athlete. |
|---|
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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FAQs
The weaknesses include the premium price point for its products and its overreliance on the U.S. market for revenue. Looking forward, New Balance has exciting opportunities to explore. Relaunching customization options, leveraging emerging technologies, and expanding into the Asian market present avenues for growth.
What are examples of strengths and weaknesses in SWOT analysis? ›
Common examples of strengths include a strong brand, a loyal customer base, a skilled workforce, and access to key resources. Identify your weaknesses: Next, consider what factors are holding your organisation back. These might include a lack of resources, inefficient processes, or a weak market position.
What are the advantages of New Balance? ›
Exceptional Comfort: New Balance walking shoes are designed with comfort in mind. They feature cushioned insoles, padded collars, and plush midsoles that provide a comfortable and supportive fit during every step.
What is a weakness of a new company? ›
Weaknesses stop an organization from performing at its optimum level. They are areas where the business needs to improve to remain competitive: a weak brand, higher-than-average turnover, high levels of debt, an inadequate supply chain, or lack of capital.
What are the three core values of New Balance? ›
Our values of teamwork, integrity and total customer satisfaction and our commitment to inclusion and belonging are embodied in our stores, manufacturing floors, distribution centers, offices and communities.
What are 5 strengths and 5 weaknesses? ›
List of common strengths and weaknesses
| Strength | Weakness |
|---|
| Creative Versatile Disciplined Proactive Honest Dedicated Fast Learner Self-aware | Self-critical Insecure Extremely Introverted Extremely Extroverted Too detail-oriented Too sensitive Impatience Difficulty delegating tasks |
Nov 24, 2022
Why employers ask "What are your strengths and weaknesses?"
| Strengths: | Weaknesses: |
|---|
| Attentive and detail-oriented | Competitive |
| Patient | Disorganized |
| Collaborative | Limited experience in a nonessential task |
| Creative | Not skilled at delegating tasks |
5 more rowsApr 9, 2024
What are some examples of opportunities?
- Get help on projects.
- Propose working groups.
- Get testers for new ideas or products.
- Create a team to work on an idea you have.
- Share your expertise or best practices in a particular field.
Threats
- Rising material costs.
- Increasing competition.
- Tight labor supply.
- Failure to get approvals.
- Legal/regulatory issues.
- Supply chain breakdowns.
- Weather/natural disasters.
Sample responses to “What are your strengths?”
- Collaborative. I am very collaborative. ...
- Technical know-how. I love staying up-to-date with trends in the tech industry. ...
- Detail-oriented. ...
- Positive attitude. ...
- Solving problems. ...
- Self-criticism. ...
- Fear of public speaking. ...
- Procrastination.
Examples of weaknesses that can keep you from moving forward: I am bad at budgeting which results in overspending. I shy away from learning technical skills and only focus on artistic skills. Brainstorming is easier for me than executing ideas.
What are the disadvantages of New Balance? ›
Weaknesses
- Limited Marketing: Unlike giants like Nike and Adidas, New Balance has a relatively modest marketing budget. ...
- High Manufacturing Costs: Maintaining manufacturing operations in the United States and the UK results in higher production costs than competitors in countries with cheaper labor.
Our goal is to help you achieve yours.
At New Balance, our job is to aid athletes in their pursuit of excellence, whether that means helping professional athletes set records and win medals, or propelling everyday athletes to achieve a new PR, run their first 5K or just to live a more healthy and active lifestyle.
What is New Balance best known for? ›
(NB), best known as simply New Balance, is one of the world's major sports footwear and apparel manufacturers. Based in Boston, Massachusetts, the multinational corporation was founded in 1906 as the New Balance Arch Support Company.
Is New Balance low quality? ›
Because Asics and New Balance both design their shoes with a high standard of quality from the get-go, they have considerable wiggle room to lower costs and create an effective budget shoe without too many compromises.
Is New Balance bad for the environment? ›
However, New Balance does not score well for its lack of shoes made with Sustainable Materials; hardly any products were found to contain compostable, recyclable, repairable or recycled materials. Another Environmental criticism comes from the group Zero Waste France.
What makes New Balance stand out? ›
New Balances are quiet, yet comforting. Unassuming, yet supportive. They cradle your feet with the same gentle compassion you wish you could give yourself. They are neither too chunky nor too slim, so this Goldilocks shape provides the perfect balance to loungewear.
Are New Balance shoes good for you? ›
"So many podiatrists recommend New Balance shoes because of how well they support the foot and keep the foot in a neutral position while being active," says Jennifer Groth, Coach at STRIDE Fitness Henderson in Las Vegas. "They also provide comfort while maintaining an overall lightweight shoe."
