Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of Chicago Bulls analyses the brand by its strengths, weaknesses, opportunities & threats. In Chicago Bulls SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Chicago Bulls to benchmark its business & performance as compared to the competitors. Chicago Bulls is one of the leading brands in the sports teams and events sector.
The article below lists the Chicago Bulls SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Chicago Bulls SWOT Analysis:
For Chicago Bulls, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
Chicago Bulls Strengths
The strengths of Chicago Bulls looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Chicago Bulls :
1. One of the most successful NBA team with many titles 2. Basketball legend Michael Jordan played for them at the peak of his career, which made the team a household name across the world 3. Loyal fan base in USA 4. Good merchandising and marketing makes them one of the most valuable NBA teams
5. Strong brand name and a stable financial performance
Chicago Bulls Weaknesses
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Chicago Bulls SWOT Analysis:
1.Does not have a huge global fan base, with most of its fans being from USA 2.Have not won any title after Michael Jordan left the club
Chicago Bulls Opportunities
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Chicago Bulls SWOT Analysis:
1.Develop new talent and retain them, so that they are able to reach the highs of the 90s once again 2.Open new academies in Asia to attract new fans and develop a brand equity
Chicago Bulls Threats
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Chicago Bulls are as mentioned:
1.Threat of top players leaving the club 2.Threat of losing its fans because of the inability to win the NBA title in the last 15 years
Chicago Bulls Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Chicago Bulls:
One of the most successful teams in NBA based in Chicago
Chicago Bulls STP
All basketball fans
Male in the age group 10-60
Successful NBA franchise with a huge fan base
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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