World Wrestling Entertainment, Inc
The World Wrestling Entertainment, Inc trading as WWE is one of the several entertainment companies based in America that are privately owned and controlled and publicly traded that concentrates on professional wrestling. Majority of their income is based on the music, films, product licensing as well as direct product sales. It is apparently the largest professional wrestling company in the world with a viewership of up to 13 million people in the USA only and reaching out to other 145 countries in 30 different languages. WWE has two major brands that it works under; Raw and SmackDown.
The mission of the WWE Inc is to provide a worldwide range of ...view middle of the document...
As part of our business strategy, we continue to pursue initiatives to strengthen our brands, expand internationally, effectively use our valuable library of wrestling content, and explore options in filmed entertainment…” this summarizes the strategy hat WWE uses to ensure that they keep their market in position and their client base intact each year.
For such a big and stable organization, there are a number of internal factors that make it a global leader in its market niche. There are several factors that must be considered ranging from the product, positioning, promotion and even the competitive edge the organization has over the competing companies.
Strengths of WWE
One of the most fundamental factors that give WWE its strength is the promotion or marketing strategy that it adopts. The marketing is so thorough that every now and then, the WWE comes up with a new way of making its product visible. These include the TV adverts, brochures, apparels, danglers, magazines, the internet, T-shirts and other clothing bust the most intriguing is the use of SMS to individual fans that not only makes the brand visible but also generates money for the WWE (Clickatell, 2009). This is a step that was taken by the WWE in recognition of the fact that more of their fans could be reached through mobile phones that via the internet hence they targeted at least 100 million mobile users. On this service, the fans can download ringtone, wall papers, get updates and even download authentic videos from the WWE as well as participating in mobile voting. The service further enables the fans to receive details on show dates, venue and time on their mobile phones.
This strategy of product promotion has worked out so well such that they are not only visible as a brand but 20% of their revenues are from mobile phone service, a feat that other players have not been able to achieve. As Clickatell (2009) notes, the 2008 annual report noted that one of the key strengths that WWE has was the business strategy which was concentrated on the creation of original content for the passionate global fan that they have via their innovative marketing techniques, one of them being the SMS marketing.
The other strength of the WWE is the fact that it has the top most talented athletes in the world. These range from former footballers, boxers, actors and from many other athletic quarters. Some of the participants are already renowned and well established names in the entertainment industry. This will then act as an endearment to the global fans, some of whom were already fans of these celebrity figures that will be carried into the WWE fraternity alongside their heroes. This has turned to a cycle that never ends, since WWE has as well created world renowned figures with whom many have identified with like Hitman, Million Dollar man, Razor Ramon among other figures. These figures made by the WWE had so many supporters and fans that continued to expand the...