SWOT Analysis Of Kmart

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Students are often asked to do the SWOT analysis of different organizations during their education. This gives them an opportunity to assess the internal as well as external factors of the firm and its position in the market. But students face a lot of difficulties while analyzing because they don’t know how to do it or sometimes can’t find proper information on the internet as they lack effective research skills.

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But first, the students need to understand what a SWOT analysis is and how it’s done. Read the blog till the end to understand it thoroughly with the example of a well-known entity, KMart.

What Is SWOT Analysis?

The “S” in SWOT stands for Strengths, “W” for Weaknesses, “O” for Opportunities, and “T” for threats of any business. This technique is used to assess the internal and external factors of a business. The entities use this analysis to minimize the probability of their failure by working on the areas where they lack efficiency and look out for potential threats and opportunities around them. It tells where a firm stands in the market and what could be done for its growth and sustainability. The companies make strategies after analyzing their strengths, weaknesses, opportunities, and threats, hence it is quite significant. A SWOT analysis matrix is usually made during the analysis which depicts the four key aspects of the businesses.

To further understand SWOT analysis, let’s do one for KMart!

About KMart

KMart is a very well-known chain of discount stores with headquarters in the U.S. It acquired Sears Holding Corporation in 2005, as it was one of the biggest chains of discount stores globally. There is high competition between KMart, Wal-Mart, and Target to get the maximum marketing share. The products of KMart are quite diverse and include a lot of top brands such as Sofia Vergara, Smart Sense, Joe Boxer, and Route 66, etc. The Blue Light Specials are quite famous in the store in which the light of mobile police was used by the worker, to highlight the discounts in the specific department of the whole store. The brand, even though, has major operations in the U.S, but has also expanded to New Zealand and Australia.

SWOT Analysis of K-Mart

The analysis of the companies major internal and external factors are as follows

Strengths

• The diverse product line; Kmart has a lot of brands on board, such as Jaclyn Smith, Adam Levine, Route 66, and Smart Sense. This has made the brand quite visible and valuable in the minds of the customers especially those who are brand conscious.
• The location of the stores; Most of the stores of Kmart are in the urban region where the population is large and the buying power of people is high. This results in high sales of the products in these areas.
• The Layaway plans; This plan is highly appreciable among the customers as it is for those who want to buy something from KMart in installments. The customers are retained through this strategy as they know they don’t have to pay all the amount at once.
• Efficient Customer support; The customer service department of Kmart is quite efficient and professional. It listens to the concerns of the customers and addresses them immediately to make sure the customers are happy with their service.
• Brand Loyalty– It has been seen that the customers of Kmart are quite loyal to the brand and don’t switch to other products or brands very easily. Hence, KMart has gained a lot of visibility in the market due to it.
• The quality of the products; The products of Kmart are of quite good quality which is their strength.

Weaknesses

• Poor financial status; Kmart has been in a lot of debt over the past few years and has also applied for chapter 11 bankruptcies. This might result in the loss of customers as well as the business.
• Inefficient Supply chain system; Kmart lacks an efficient supply chain system for the distribution of its products as compared to its competitors, hence, is a weakness of the brand.
• Stores closure; The temporary closure of the company affected the brand a lot and led to a massive downfall.
• Ineffective marketing; Experts say that KMart has a very poor marketing strategy and hasn’t been efficient in reaching its target market thoroughly.

Opportunities

• Expansion of the operations; KMart can expand globally as it is a versatile and evergreen market that has a lot of growth potential.
• The opportunity of acquiring and merging; There are a lot of opportunities for Kmart in terms of merging and acquiring new brands and labels to get the maximum share in the market and reduce the competition.
• Enhancing the Product line; KMart can diversify its products and divide them into a premium or low-cost things so that they could target all the classes.

Threats

• The economic downfall; The global economy has always been uncertain and even unstable for the past years. The world has seen a financial crisis, Corona pandemic, oil market crash, and whatnot. All these things result in inflation, unemployment, and less buying power of the people. KMart’s sales could also be affected due to the downfall and hence, is a threat for the brand.
• High competition; There is severe competition in the discount stores industry, with major players that include Whole Foods, Walmart, and Target Corporation. Even local stores are also entering the market, which is also a threat for KMart. There is a dire need for the company to make a structured properly designed marketing strategy.
• Regulations from the Government; The government’s regulations can affect any business either positively or negatively. The imposition of tax, duties, or other procedures are a threat for the business, hence, KMart should be careful and keep itself updated about all the policies of the government.

Get the best SWOT Analysis done by the Assignment Studio

It can sometimes be very difficult for the students to do a thorough SWOT analysis of a company when they are asked to write one in their assignments. They are not thorough in their research and miss the key points that should go in the SWOT analysis. Hence, the instructor is not satisfied with their submission and they end up with bad grades in the assignments.

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