Stony Brook University The New York Yankees SWOT and Marketing Plan Paper Using the information drafted, add and fix work to produce an 8-10 page paper wri
Stony Brook University The New York Yankees SWOT and Marketing Plan Paper Using the information drafted, add and fix work to produce an 8-10 page paper writing a marketing plan for the New York Yankees. Work needs to be plagarism free AND MUST BE CHECKED. RESEARCH should be based on primary and secondary sources. Minimum of 5 sources and paper must include an APA bibliographic form. paper will be submitted to turitin. Use the attached document to fix and complete assignment in APA format. MUST BE “A grade” level material. Correct all grammar, punctuation and spelling. The New York Yankees SWOT and Marketing Plan
In Baltimore, Maryland in 1901, an organization called the Baltimore Orioles
was founded. Two years later, it was purchased by Bill Devery and Frank Farrell
and moved to Manhattan. Originally approved as a member of the American League
known as the Highlanders, the teams home field was Hilltop Park. In 1913, the
Highlanders were officially renamed the Yankees, and moved their home field to the
Polo Grounds which was home to the National League New York Giants.. At that
time, no one could have anticipated this franchise would be a dominant force in the
professional baseball industry.
According to the Forbes Business of Baseball 2020 website, the New York
Yankees rank #1 with a current value of $5 billion. The team has a 0% debt/value
ratio, $683 million in revenue, and $35 million in operating income. In 2019, the
New York Yankees were ranked #2 in the world for most valuable sports franchise
in the world. The team has produced 61 Hall of Fame inductees, won 39 American
League Pennants, and 27 World Series Titles. In 2010, famous owner George
Steinbrenner died and left his two sons, Hal and Hank, the team. Recently, Hank
Steinbrenner passed away leaving brother Hal as the owner.
The New York Yankees organization continues to be one of the most
successful teams in MLB history. It positions itself as an industry leader in sports
teams and events, one of the most successful teams the MLB with the best players.
In order to maintain its presence and notoriety, a strong marketing concept should
be developed to target New York sports fans, baseball fans, Yankee fans, families
and tourists, increase ticket sales for New York Yankee home games, increase
merchandise sales for New York Yankees, increase brand awareness, and continue
to improve and preserve the teams reputation and presence online. In order to
meet these objectives, the marketing team needs to improve social media
development, optimize SEO, improve Google Ad words Campaign, market with Pay
Per Click (PPC), and focus on mobile marketing and email marketing.
An approximate budget would include 750,000 per year. This breaks down
to $62,500 per month, and $2055 per day. SEO would equal 30% of budget or
$18750. Social Media Development would equal 30% of budget or $18750. Pay Per
Click (PPC) would equal 30% of budget or $18750. Mobile Marketing would equal
5% of the budget or $3125. Email Marketing would equal 5% of the budget or
$3125.
This marketing campaign would seek to increase ticket sales for New York
Yankee home games, increase merchandise sales, increase brand awareness of New
York Yankees in target markets and preserve and improve brand reputation online.
Strategy would target New York sports and and entice them to purchase tickets with
the intent to produce more revenue and sell out home games. Included in this
strategy would be partnering with MasterCard, American Express, Discover and
VISA credit card companies to offer special packages for weekday games. Other
offers would include tourist specials and gift and holiday promotions.
Google Ad words Campaign would focus on selecting key phrases and words
that target markets search to increase reach and eliminate useless advertising on
those not likely to be part of the market. These phrases/words could include MLB,
sports, baseball, New York Yankees, Derek Jeter and other popular names/products
of the New York Yankees. Social Media Marketing would include improving
LinkedIn, Facebook, Twitter, Instagram, and other trendy social media sites.
The New York Yankees SWOT analysis is as follows. The New York Yankees
have several strengths. These include:
One of the most valuable sports franchises in the world across all
professional sports
Long history in MLB
Dedicated fan base
Most successful MLB team in history
Continuously among the leaders in MLB attendance
Strong TV Network
Many baseball legends played for this franchise (Babe Ruth, Joe
DiMaggio)
Large international player pool
Several weaknesses with the New York Yankees are as follows.
High payroll
Fans of other teams despise them
Popularity of baseball outside of USA is lower which prevents it from
becoming a truly global franchise
New stadium cost increase ticket prices which leads to affordability
issue with target market
Several opportunities with the New York Yankees are as follows.
Set up baseball academies/components in areas such as Europe and
Asia to attract more fans and increase global franchise
High payroll attracts and retains top players, which improve
consistent winning opportunities.
No salary cap
Several threats to the New York Yankee organization:
Other franchises competing to take top players to their team
Rise in popularity of other sports like NFL, NASCAR
Indirect competition by other sports teams (Giants, Jets, Rangers)
Difficulty due to slow economy to maintain high wages for players
Several competitors to the New York Yankee organization:
Boston Red Sox
Los Angeles Dodgers
New York Mets
Chicago Cubs
Works Cited
https://www.forbes.com/sites/forbespr/2020/04/09/forbes-releases-23rd-annual-major-league-baseballvaluations/#5aab42da7eeb
https://www.forbes.com/sites/mikeozanian/2019/04/10/baseball-team-values-2019-yankees-lead-league-at46-billion/#1c09237f69b2
https://www.forbes.com/teams/new-york-yankees/#29ea6ae94e6e
https://incfact.com/company/newyorkyankees-bronx-ny/
The following is a suggested outline
for the marketing plan:
1. Introduction: give an overview of
your product/service and your
overall marketing plan.
2. Review industry size, trends, and
the target market segment.
3. Explain in detail the marketing
objectives, strategies, tactics, and
plan evaluation and controls used
by the company.
4. List important aspects of your
product/service that makes it
unique.
5. Do a SWOT Analysis of your
product/service.
6. Budget your marketing costs and
do a sales forecast in dollars or
units for the year and a long-range
forecast of your product/service
growth.
7. Conclusion: review your total
marketing plan.
8. Bibliography
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