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What Is The Swot Analysis Of Geico

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SWOT Analysis:
GEICO is a leading organization in insurance industry. GEICO Managers use SWOT analysis technique to understand the company’s market and financial position. GEICO takes SWOT analysis results seriously in order to maintain its prominent position in the market. SWOT analysis is a highly interactive process and requires effective coordination among various departments within the organization such as – marketing, finance, operations, management information systems and strategic planning. The SWOT Analysis framework enables an organization to identify its internal strategic factors such as -strengths and weaknesses, & external strategic factors such as - opportunities and threats.

Strengths
GEICO has numerous strengths to enable its prominent position in the market. These strengths not only help it to protect the market share in existing markets but also help in penetrating new markets
1. Strong Dealer network: GEICO established cordial relationship with its dealers and distributers. GEICO invest a lot in training its dealer’s sales team who in turn promote company’s products, explaining the benefits to the customers.
2. GEICO automated all its activities to consistently maintain product quality and to scale up/down based on market demands.
3. Product Innovation: GEICO has a successful track record of developing and implementing new products.
4. GEICO continuously trains and develop its workforce though its trainings and learnings programs. Geico is investing
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