Swot Analysis Of Yeti

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A single outdoor company has nearly revolutionized the way some camp, hike, fish, tailgate, or just hang around with friends. Raw sales of top of the line, durable coolers, cups, tumblers, and bags have had a 3 year growth rate of 748%, and now sits on over 450 million dollars in revenue (Saporito, 2016). How did two brothers from Austin, Texas manage to grow a small startup into one of the top retail suppliers of durable outdoor accessories? More surprisingly, how did this company manage to market this product, create a “cult” like following, and create a whole new niche in the marketplace? To dig into Yeti’s tools for success, a little background info must be observed. Yeti coolers were introduced in 2006, and so was the idea of a “high …show more content…

The first analysis to be performed on Yeti should be a SWOT analysis. A SWOT analysis stands for Strengths, Weaknesses, Opportunities, and Threats. This analyzes a company’s strengths and weaknesses within the company, and also observes opportunities and threats externally. A company like Yeti that makes such a specialty product has an advantage when it comes to strengths because of the product they sell. Specifically, a key strength enjoyed by Yeti is their product line itself. With it being such a specialty product, Yeti has endless growth capabilities with their product line. Speaking of growth, another strength is the company’s high growth rate. As aforementioned, Yeti enjoys a 748% sales growth rate per 3 years (Saporito, 2016), and that number is on the rise. Management and personnel are keys for the success of Yeti as well. Per employee reviews on Glassdoor, management at Yeti does a fantastic job of influencing their employees and create a warm and inviting culture around their company. One employee writes, “YETI values "culture" in the work place. They have a committee dedicated to it and have monthly "fun-tivities". The atmosphere is great because the people who work here truly love the product and the lifestyle behind them. The company is …show more content…

Opportunities for Yeti start with the overall demand for their product. Yeti has created a certain cult like following for their products. Their consumers are the very definition of “brand loyal”. They buy the products because they are durable, and never want to buy anything else. As the company continues to grow and reach out to more consumers, their demand will be a driving force. Another external advantage for Yeti is the difficult barriers to entry there are for this type of market. These barriers make it more difficult for competitors to enter and compete with

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