The SWOT analysis I conducted for the Kansas City Chiefs identified several key strengths, weaknesses, opportunities, and threats for the team's business side of things. This paper will focus on the most important things that I believe the team needs to fix to remain competitive and continue to grow the business.
The diversification of revenue streams is one of the large weaknesses identified in the SWOT analysis. The Chiefs have way too much dependence on ticket sales and merchandise revenue. To address this, the team needs to diversify their revenue streams by exploring other income-generating ideas. For example, the team could explore partnerships with other brands or explore new products and services that are related to the sports industry. This could include launching a sports betting platform, which is now legal in several US states, or offering personalized fan experiences with members of the Chiefs team.
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Although Mahomes is undoubtedly one of the most talented players in the NFL, the Chiefs need to have a backup plan in case he is injured or unable to play. This could involve investing in developing the team's second-string quarterback or exploring free agents that could serve as a backup option and making sure they are game ready as a moment's notice.
Expansion of International Reach, in the SWOT analysis an opportunity for the team is to expand its international reach beyond its core market in the US. To capitalize on this, the team could explore opportunities to play games abroad, create partnerships with international brands, and engage with fans on social media from these target audiences. This would require investment in marketing and outreach efforts to build the team's brand overseas of