Published in Sports Teams and Events category by MBA Skool Team
Formula One (F1) is one of the leading brands in the sports teams and events sector. Formula One (F1) SWOT analysis evaluates the brand by its strengths & weaknesses which are the internal factors along with opportunities & threats which are the external factors. Let us start the SWOT Analysis of Formula One (F1):
Formula One racing is a popular sport which involves high speed racing with speeds reaching as high as 350km/hr
Presence of the most talented drivers and top automobile brands in the world in the championship showcases its strong presence
F1 has an excellent marketing and merchandising spread all across the world
The race tracks of the highest quality which are present all across the world
World-wide fan following of the motorsport owing to presence on popular teams and race-drivers
Some great rivalries over the years have added more glamour to the championship
Excellent TV coverage with a global audience of more than 500 million viewers
F1 has many car brands like Ferrari, Mercedes, McLaren etc. which participate in the race events
Above are the strengths in the SWOT Analysis of Formula One (F1). The strengths of Formula One (F1) looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
Formula One (F1) Weaknesses
Very high expenditures have forced several teams to withdraw
Various disputes between FIA and FOTA in the past have affected the brand image of F1
These were the weaknesses in the Formula One (F1) SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
Formula One (F1) Opportunities
Focus on adding bio-fuel engines and other such measures to make F1 environment friendly
Explore into newer territories like Russia, South Africa etc. in the future
Formula One can continue growing by enhancing its coverage and visibility as a global sport
Above we covered the opportunities in Formula One (F1) SWOT Analysis. The opportunities for any brand can include prospects of future growth.
Formula One (F1) Threats
Threat of the top teams breaking out from the F1 and forming a league of their own
Top drivers moving on to other forms of racing leagues can impact the business of Formula One
Growing popularity of other racing events like Moto GP, NASCAR etc. can reduce its popularity
The threats in the SWOT Analysis of Formula One (F1) are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
Racing of the highest order with the best cars and the best drivers
Formula One (F1) STP
All auto-racing enthusiasts
High income male and female in the age group 15-60
High speed and high quality auto-racing
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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