SWOT analysis is an assessment of an organization’s ability to manage risks and investigate potential external threats. Cohn, 2017, the Miami Dolphins were one of America’s oldest football clubs. The Miami Garden is the headquarters.
Its brand equity is strong because of the overwhelming support it gets from supporters. These numbers are evident in the amount of social media followers and sold tickets. Gough,2022, explains that the institution has more than 2,000,000 social media followers. Before covid-19., more than $70million in ticket revenues was earned from the spectators attending its competitions and tournaments. The institution also has strong strategic relationships with businesses to strengthen its market position. PepsiCo is just one of its major supporters. Verizon and Publix are also among them. The Miami Dolphins’ financial strength is another asset. They can engage in aggressive marketing to acquire talented players and also have the ability to invest heavily in their finances.
This team’s lackluster performance is its biggest problem. The corporation’s poor performance over the years has discouraged many of its fans from supporting other teams. Supporters enjoy supporting their favorite teams in tournaments and are more likely to support them. Customer loyalty is affected by low performance, which can result in high customer turnover. According to Gough (2021) the Miami Dolphins have lost approximately 100,000 social media followers from their 2.33 million following in 2018 to 2.19million in 2019. Now, the club ranks 12th amongst 32 teams.
Tick Tock or Instagram are two social media platforms that the company should use to build its brand. Clubs can connect with their supporters more easily through digital channels, which increases its brand’s value. Social media may be used by the institution to market its brand internationally, including Canada. Digital marketing can increase market share and help with financial sustainability. The institution may also use the ecommerce platform for product sales growth (Cohn 2017, 2017). The university might partner with Amazon, eBay and Walmart in order to increase its income and sell jerseys and other branded items.
Other football leagues offer significant competition to the squad’s supporters. The New York Jets (Pittsburg Steelers), Buffalo Bills (Buffalo Bills) and New England Patriots offer formidable competition (Cohn 2017). When the club does not perform well, its supporters will likely move to other teams to support it, which can limit its viability. The team was also threatened during the Covid-19 pandemic, in which its members tested positive for the disease and many competitions were stopped. The institution suffered a 70% drop in income during the epidemic, which threatened its survival.