Marketing Mix of World Wrestling Entertainment (WWE) and 7Ps (Updated 2024)

The Marketing mix of WWE analyses the 7Ps of WWE, which includes the Product, Price, Place, Promotion, People, Physical Evidence, and Process of WWE. WWE, or rather the World Wrestling Entertainment, is a world-leading wrestling match producer and promoter for live and television audiences. The company boasts about 250 annual live events, at least 50 for the international markets.

The company was founded in 1952 by Toots Mondt and Jess McMahon and was initially called the Capitol Wrestling Corporation Ltd. For the last two years, WWE has been the largest wrestling promotion company in the world, having held more than 500 events in 2016. It was not until 2011 that the company was branded WWE.

Competitors

• AMC Entertainment Holding
• Genius Brands International
• Cinemark Holdings
• Regal Entertainment Group
• Marcus Corporation

About WWE

• Type: Professional wrestling promotion
• Industry: Sports entertainment
• Founded: 1963
• Founder: Jess McMahon and Toots Mondt
• Headquarters: Stamford, Connecticut, United States
• Area served: Worldwide
• Key people: Vince McMahon (Chairman) and Nick Khan (CEO)
• Number of employees: 800+

WWE Product Strategy

The major shareholder of the WWE is Vince McMahon, who happens to be a two-time WWE world champion. The McMahon family claims about 70% of the company, with 96% voting control of the WWE’s activities. Products are mainly action T.V. productions. Others are found within the publishing fields, music, films, streaming network services, finance, merchandise, live events, and home videos.

The new Product Mix of WWE in 2024 is as follows (Source).

1. Television Programming: WWE produces various weekly T.V. shows such as “Monday Night RAW,” “SmackDown Live,” and “NXT.” These shows are broadcast globally and are the primary product of WWE, showcasing wrestling matches, storylines, and character development.
2. Pay-Per-View Events: WWE hosts monthly Pay-Per-View events, such as WrestleMania, SummerSlam, and the Royal Rumble. These events are significant revenue generators, often featuring high-profile matches and special appearances.
3. WWE Network: A subscription-based streaming service offering a vast library of past wrestling events, documentaries, original series, and live streaming of Pay-Per-View events. The WWE Network has been a significant move towards digital distribution.
4. Live Events: Non-televised events held globally. These live shows are vital to WWE’s product offering, allowing fans to experience wrestling matches in person.
5. Merchandising: WWE markets a wide range of merchandise, including apparel, action figures, video games, and other branded products. Merchandising extends to online sales and sales at event venues.
6. Licensing and Sponsorships: WWE licenses its brand and characters for various products and forms partnerships with other companies for sponsorships.
7. Film and Television Production: WWE Studios produces films, television shows, and digital content, often featuring WWE talent. This diversification helps in brand expansion and reaching new audiences.
8. Publishing: WWE publishes books and magazines and has digital content offerings, including web series, podcasts, and websites.
9. WWE Performance Center: A state-of-the-art training facility for aspiring wrestlers. It serves as a talent development center for WWE.
10. International Expansion: WWE continues to expand globally, creating localized content and forming partnerships in various countries.
11. Community and Social Responsibility Initiatives: WWE is involved in various social causes and community outreach programs, enhancing its corporate social responsibility profile.

WWE Pricing Strategy

Analyzing WWE’s pricing strategy reveals a multifaceted approach tailored to maximize its revenue streams while catering to a diverse global audience. Here’s an in-depth look at their pricing strategy:

1. Value-Based Pricing for Pay-Per-View Events: WWE employs a value-based pricing strategy for events like WrestleMania and SummerSlam. These events are premium offerings with high entertainment value, and the pricing reflects the unique experience and exclusivity of the content. W WWE capitalizes on the high demand and fan enthusiasm by charging a premium for these special events.
2. Subscription Model for WWE Network: The WWE Network uses a subscription-based pricing model, offering extensive content at a fixed monthly price. This approach appeals to a broad audience, providing value through unlimited access to a vast library of matches, documentaries, and exclusive shows. The subscription model ensures a steady revenue stream, making it affordable and accessible to a broad fan base.
3. Dynamic Pricing for Live Events: WWE utilizes dynamic pricing for its live events, where ticket prices vary based on factors like demand, seat location, and timing. This strategy maximizes revenue by adjusting prices in real-time to reflect the changing market conditions and consumer willingness to pay.
4. Merchandise Pricing Strategy: For merchandise, WWE adopts a competitive pricing strategy, aligning apparel prices, action figures, and other products with industry standards. They often bundle merchandise with promotions and discounts, especially during events or special occasions, to stimulate sales and enhance fan engagement.
5. Segmented Pricing for International Markets: Recognizing the diverse global market, WWE employs segmented pricing for international audiences. This involves adjusting the pricing of subscriptions, Pay-Per-View events, and merchandise based on regional economic factors, purchasing power, and market demand, ensuring affordability and market penetration in various countries.

WWE Place Strategy

WWE sells its products worldwide, in at least 150 countries. Its primary programming includes SmackDown, aired on Friday night on Syfy T.V.; Monday Night Raw, wired through U.S. cable; and WWE NXT on WWE’s website.

The company also produces and sells DVDs & Videos that showcase at least 140 wrestling stars, including Triple H, The Undertaker Rey Mysterio, etc. Nearly 12 live pay-per-view action programs are also offered on the company’s website for viewers to enjoy. Today, WWE’s offices are located in Los Angeles, Sydney, London, New York City, Tokyo, and Toronto. The WWE products are promoted through two brands, namely SmackDown and Raw.

Here’s the place strategy of WWE.

1. Global Television Broadcasting: WWE’s television programming, including shows like “RAW,” “SmackDown,” and “NXT,” is broadcast in more than 150 countries and multiple languages, ensuring a global reach and presence.
2. WWE Network and Digital Platforms: The WWE Network, along with other digital platforms like YouTube and social media channels, allows WWE to distribute content globally, making it accessible to a broad audience beyond traditional television viewership.
3. Live Event Tours: WWE conducts live events and tours in various countries, including the U.S., Europe, Asia, and the Middle East, bringing the live wrestling experience to a global audience and increasing its market presence worldwide.
4. Strategic Partnerships and Alliances: WWE partners with international networks and local promoters to facilitate broadcasts and live events in different regions, adapting to local markets and expanding its international footprint.
5. Merchandising and Retail Distribution: WWE merchandise is available through various channels, including online platforms, in-store retail in different countries, and at event venues, ensuring that fans worldwide have access to WWE-branded products.

WWE Promotion Strategy

The company has been promoting its products through an array of means. Most of these have been adverts through the electronic media, though the print media hasn’t been left out of the marketing mix. The company’s products are always given visual presentations for clients during prime T.V. hours, thus allowing viewers to see the rest of the company’s products and the benefits.

Such a strategy has increased the viewer base to 36 million in at least 150 countries worldwide. In addition to the promotion marketing and promotion strategies above, The WWE Company also runs a website offering different product composition information. Products are fully described, and former great matches are available to revisit. Such has attracted many and keeps on attracting more.

In 2015, the company announced its partnership with the Authentic Brands Group to re-launch Tapout, a clothing-related line. WWE markets this brand, which was first released in 2016. It markets the brand through its numerous products, such as supplements, gyms, beverages, etc, holding a 50% stake in the authentic brands group.

WWE has also engaged in several charity activities, with the most recent charities involving partnerships with Make-A-Wish Foundation, Special Olympics, and Susan G. Komen for the Cure, among others.

Some Recent Video ads and Print ads for WWE are:

WWE People Strategy

The “People” element of the Service Marketing Mix for WWE (World Wrestling Entertainment) is crucial because it encompasses not just the wrestlers themselves but everyone who contributes to the delivery and promotion of the WWE experience. Here are several key points regarding the “People” aspect:

1. Wrestlers and Performers: The most visible part of WWE’s “People” element. These individuals are not just athletes but also entertainers, possessing skills in both wrestling and performance art. They play a crucial role in engaging the audience through their personas, storytelling in the ring, and public appearances.
2. Creative Team: This includes writers, producers, and directors responsible for developing storylines, character arcs, and scripts. Their creative input is essential in crafting the narratives that keep fans engaged and invested in the WWE universe.
3. Training and Development Staff: Coaches and trainers at the WWE Performance Center play a vital role in developing the next generation of WWE talent. They enhance aspiring wrestlers’ physical capabilities, performance skills, and on-camera presence.
4. Broadcast Team: Announcers, commentators, and interviewers contribute significantly to the WWE experience. They provide narration, context, and excitement to the matches and storylines, both live and on television.
5. Referees: Often overlooked, referees are crucial for maintaining the flow of matches, ensuring safety, and contributing to the storytelling within the ring.
6. Customer Service and Fan Engagement Teams: These personnel manage fan interactions through social media, WWE’s official website, and customer service channels. They play a crucial role in audience satisfaction and community building.
7. Event Staff and Production Crew: Behind-the-scenes staff, including those involved in setting up the arena, managing live events, and handling technical aspects of broadcasts, ensuring the smooth execution of shows.
8. Marketing and Public Relations Team: This group promotes WWE events, manages relationships with the media, and develops campaigns to enhance WWE’s brand and reach.
9. Corporate Staff: Includes executives and administrative personnel who make strategic decisions, manage partnerships, and oversee the operations of WWE as a business.
10. Health and Wellness Personnel: Medical staff, including doctors, physical therapists, and wellness program managers, are crucial for maintaining the health and safety of the performers, ensuring they are fit to perform, and providing care in case of injury.

WWE Process Strategy

The “Process” element of the Service Marketing Mix refers to the procedures, mechanisms, and flow of activities by which services are consumed. For WWE (World Wrestling Entertainment), this involves the entire operation behind organizing, promoting, and delivering wrestling entertainment to its global audience. Here are key points that outline the “Process” in WWE’s marketing mix:

1. Event Planning and Scheduling: WWE meticulously plans its events, including weekly shows (e.g., Raw and SmackDown), monthly pay-per-view events, and annual spectacles like WrestleMania. The planning process involves selecting venues, scheduling dates, and coordinating logistics to ensure a smooth execution.
2. Talent Development and Management: WWE recruits athletes and performers through various channels, including talent scouting and its Performance Center. Wrestlers undergo training and character development and are gradually integrated into WWE programming based on their skills, persona, and audience reception.
3. Storyline Development: The creative team, consisting of writers and producers, crafts storylines and character arcs that span weeks to months. These narratives are central to WWE’s programming, driving the engagement and emotional investment of the audience.
4. Production and Broadcasting: WWE’s production process involves pre-event setup, live event production, and post-production for broadcast and streaming platforms. This includes setting up the ring, lighting, sound, and video packages and editing the final television and online distribution content.
5. Fan Engagement and Interaction: WWE has developed a comprehensive process for engaging with fans before, during, and after events. This includes social media interaction, meet-and-greets, fan conventions (e.g., WWE Axxess), and interactive segments during shows.
6. Merchandising and Sales: Merchandising includes designing, producing, and distributing WWE-branded products. This is complemented by online sales through WWE Shop and on-site sales during events, allowing fans to purchase merchandise from their favorite wrestlers.
7. Feedback and Improvement: WWE gathers input from various channels, including social media, audience surveys, and viewer ratings. This feedback is used to adjust storylines, improve event experiences, and tailor content to audience preferences.
8. Health and Safety Protocols: The process includes rigorous health and safety measures in the ring and backstage. This involves medical screenings, injury management, and compliance with local regulations to ensure the well-being of performers and staff.
9. Global Expansion: WWE’s process for global expansion includes tailoring content for international markets, organizing overseas tours, and developing partnerships with local broadcasters to reach a wider audience.
10. Digital Content Distribution: Beyond live events, WWE utilizes a multi-platform strategy to distribute content, including its own WWE Network, social media channels, and partnerships with streaming services. This ensures fans have access to WWE content anytime, anywhere.

WWE Physical Evidence Strategy

Physical evidence in the Service Marketing Mix refers to the environment in which the service is delivered, including any physical or tangible elements that help to make the service more concrete to consumers. For WWE (World Wrestling Entertainment), physical evidence plays a critical role in shaping the audience’s experience and perception of the brand. Here are key points that illustrate the physical evidence of WWE:

1. Branding and Visual Identity: WWE’s logo, color scheme, and thematic designs across all touchpoints (arenas, merchandise, digital platforms) serve as physical solid evidence of its brand. These elements help in creating a recognizable and cohesive brand image.
2. Wrestling Arenas and Stages: The design and setup of arenas where WWE events are held, including the ring, entrance ramp, LED screens, and pyrotechnics, contribute significantly to the live experience and atmosphere.
3. Merchandise: Official WWE merchandise, including apparel, action figures, belts, and other memorabilia, is tangible evidence of the WWE experience. Fans purchasing and wearing merchandise reinforce brand loyalty and identity.
4. Event Tickets and Packaging: The design and presentation of event tickets and the packaging of WWE products are part of the physical evidence that enhances the overall fan experience.
5. WWE Performance Center: The state-of-the-art training facility for upcoming WWE talent is a tangible asset that showcases WWE’s commitment to developing and nurturing wrestling talent.
6. WWE Network and Digital Platforms: Although primarily digital, the user interface and experience of the WWE Network and WWE’s official website and apps offer a form of physical evidence through their design, functionality, and content presentation.
7. Promotional Materials: Physical promotional materials such as posters, flyers, and advertisements for WWE events and merchandise contribute to the visibility and tangible presence of the brand in various environments.
8. Fan Interaction and Event Experiences: The layout and organization of fan zones, meet-and-greet areas, and event merchandise stands are physical elements that facilitate fan engagement and enhance the event experience.
9. Broadcast Quality: The production quality of WWE broadcasts, including the clarity of video, sound, and the design of on-screen graphics, is physical evidence of WWE’s professionalism and the high quality of its entertainment product.
10. Awards and Championships: The physical design and appearance of WWE championship belts are crucial elements of physical evidence. They symbolize achievement and prestige within the WWE universe.
11. WWE Hall of Fame: The existence of the WWE Hall of Fame, including physical plaques or trophies given to inductees, serves as tangible recognition of the contributions and legacy of wrestling legends within the WWE.

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