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Solution - Case Study Example

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World Wrestling Entertainment, popularly known as WWE, is a sports entertainment company that focuses on providing premium sport entertainment through various mediums including television programs and other online media platforms. On this basis, this essay will discuss various…
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Case Study Management; World Wrestling Entertainment World Wrestling Entertainment, popularly known as WWE, is a sports entertainment company that focuses on providing premium sport entertainment through various mediums including television programs and other online media platforms. On this basis, this essay will discuss various issues in relation to WWE business strategy.
To start with, the WWE strategized to expand the business by incorporating other forms of businesses that related to the core wrestling entertainment. In the year 1999, Vince McMahon, the president and chief executive of WWE, launched a football league by the name XFL by partnering with NBC that was aimed at introducing fan-friendly football. However, this initiative was not successful and the league died after one season leading to a loss in the club. In addition, the company has also engaged in movie production through use of the varied characters in the WWE. Further, the company has also launched smart phone applications for the WWE programs aimed at boosting the company revenue.
However, despite these ambitious business strategies, WWE has faced various strategic problems. To start with, the increased focus on social media has had a negative impact on business strategy of the company. Many non-televised shows were introduced in the official WWE website, You Tube and Facebook attracting a large number of viewers. As a result of the excessive online focus, other extension brands were limited. Secondly, there is reduced number of divas matches that have been focused on non-televised dark matches hence not receiving enough reaction from a wide WWE fan base.
The competitive forces surrounding the WWE are vast but limited considering the fact that WWE is a sports entertainment industry. To start with, the supplier power in relation to the number of well known actors used to perform live performances is limited. This is because other rival firms such as TNA and WCW (later bought by WWE) also compete for the few outstanding performers. Secondly, WWE has a wide customer base hence reducing the buyer power. This was mainly achieved by expanding their audience by making shows that were more acceptable among families. Thirdly, WWE faces limited competitive rivalry in the industry because of adopting business strategies that have been hardly matched by other competing firms. On this note, the WWE was able to compete WCW effectively and even bought the firm later.
Of more significance, WWE faces minimal substitution threat in the market. This is because the firm presents wrestling as a form of entertainment as opposed to other companies Prairie Wrestling Alliance that do not capitalize on the entertainment bit. This means that the WWE Company has enough market power to dominate the target market segment effectively. Further, the company experiences minimal threat from new entrants into the market. This is because of the large capital base required to start such a firm specifically by acquiring expensive contracts with reputable performers who have a large number of fans throughout the world.
Importantly, two major recommendations can be made to the WWE CEO. Firstly, it is important for the CEO to encourage market diversification for the firm. This way, WWE will be able to generate more revenues that can be used to improve on the quality of production hence becoming effective in market competition. Secondly, the CEO should ensure that WWE upholds quality production in order to retain existing fans and even attract new fans of WWE productions. This will also make customers to be proudly associated to WWE production something that is essential for the survival of the company because diehard fans can help the company to identify new opportunities that can be tapped.
In conclusion, WWE is a sports entertainment company that has tried to venture into new opportunities through diversification programs. However, even though the company did not succeed in all the diversification initiatives, it is evident that diversification resulted into increased customer base that has contributed to the success of the company. Read More
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