World Triathlon Corporation (WTC) is a Florida-based company known for recognizing athletic excellence and performance. It provides events, products, and services under the Ironman and Ironman 70.3* branded names. Since its inception, Ironman has been identified with ambitious and courageous individuals who aren't afraid to push their limits. Tapping into athletes' desires to pursue their dream of becoming an Ironman was a successful business strategy for WTC. Given the extreme physical challenge, disciplined training, and camaraderie it offered its clients, WTC was able to grow its revenues and profits over the years.

In 2008, Providence Equity Partners, a private equity firm, acquired WTC for an undisclosed amount. The new owners started expanding the exclusive branding of Ironman to products and events that clearly didn't represent the "spirit of the brand. For example, those who finished Ironman 70.3 races were allowed to be called "Ironmen," regardless of the shorter length and lesser degree of difficulty.

Addtionally, products such as cologne, mattresses, and strollers were branded with "Ironman. In October 2010, Ironman Access was launched as a membership program wherein individuals could get preferential registration access to Ironman events for a $1,000 annual fee. The response by the triathlete community was quick and decisive and overwhelmingly negative. The athletes felt that WTC was losing its values in its pursuit of more profits. The company was trying to expand the brand, but it was alienating

What are the long-term implications of the WTC's recent strategic actions?