Business Analysis: The Chicago Cubs
Chicago Cubs
Introduction
The Chicago Cubs are a Professional American Baseball Team that competes in the Sports and Entertainment Industry. Tom Ricketts and family bought the Chicago Cubs along with Wrigley Field from the Tribune Company in 2007. The Chicago Cubs are one of the oldest franchises to this day. They are known for their old school ballpark right in the middle of a neighborhood, and the fans are known to party. They tend to target males 16-60, but being such and old school team playing in such an old school ballpark they attract people of all races and ages. They haven’t won a World Series title since 1908, yet they are one of the most financially successful baseball teams in the world. Baseball is America’s past time so despite
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It is extremely difficult for a state or city to say they want to start a professional baseball team, so there is no competition other then what they currently have. It is more of if you are willing to invest into a team right now like Tom Ricketts was then all you have to do is working with existing threats and competition.
• Buyer Power- Sports fans are hardcore spenders and this is a proven fact. Any baseball fan will spend their money on other baseball products. So Cubs fans may actually go to the Red Sox and spend their money, while this may seem like a disadvantage or a threat it really isn’t since people are coming to the Cubs and spending their money. With the amount of history the Cubs have, they have the upper hand in other teams wanting to come see them. As far as buyers being able to adjust prices that is very hard to do for a company dealing with services. They cannot control how a team is doing, if they are doing horribly that season well then tickets will be cheaper then if they were playoff
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For years their competition was the White Sox. But for the first time in what seems to be years the Cubs have a much better record then the White Sox, and for once the Cubs will be going to the playoffs instead of the White Sox and people are excited about this. So in 2015 there really wasn’t much competition. The Cubs have a strong fan base right now, a few years ago the Cubs did struggle with having fans leave to the southside. Other competitors for the Chicago Cubs are surrounding city teams. Such as the Milwaukee Brewers and St. Louis Cardinals. But these never pose a huge
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