Lifestyles Fitness Center
Lifestyles Fitness Center
May 16 (Updated with Financial data 01-28-2001)
Javon Jones
Chief Executive Officer
Lifestyles Fitness Shopping Center
Someplace, CO 64093
(303) 555-5555 Prepared with the assistance of
The Institute for Entrepreneurial Studies and Development And
Small Business Development
Colorado State University
Table of Contents
1 Executive Summary
3 Present Situation
5 Objectives
6 Management
8 Product / Service Description
10 Market Analysis
Customers
Competition
Focus Group Research
Risk
14 Marketing Strategies
Pricing & Profitability
Selling Tactics
Distribution
Advertising & Promotion
Public Relations
Business Relationships
18 Appendix
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One of our concepts is to use area facilities such as restaurants and nightclubs as sources of advertisement. We already have four area businesses that have given us verbal commitment for assistance by placing banners and placards in their business places and distributing flyers to their customers.
Our target market will be primarily be the student/young adult and senior citizen, but Lifestyles Fitness will not be limiting itself to this market alone. We believe that the fitness industry is open to all individuals and should be made available to all markets. By having a broader clientele our income base would not be limited, we will literally tap into every category of markets and try to reach as many of them as possible through strategic advertising.
Present Situation
This company is a start up venture that has secured a tentative lease agreement on the perfect site for a large fitness center. The new site is located perfectly in Lifestyles Fitness by many small shopping centers and businesses with easy access from highway. The facility is located in a modern and progressive strip mall that supports numerous businesses and has a high volume of potential customer traffic. This high traffic area is the ideal location for easy access to both college and local citizens. It assured memberships by many Lifestyles Fitness citizens since it will be a short walk or drive to the location and the site will provide ample and
PromotionWhen planning a promotion you have to also have planned a budget for your promotions. Publicity and public relations are also part of the promotions part of a good marketing mix. Anytime Fitness is not only the largest fitness club but also the fastest growing, fitness club franchise in the world. They nearly doubled in size from 308 to 604 clubs in 2007. They plan to open their 1000th club in 2008 (Anytime Fitness, 2008). One of their promotions that I took advantage of was a pricing promotion. This was a grand opening pricing promotion. When my
"LA Fitness grew out of three clubs, each owned by one of the founders. In 1990 Fred Turock, Jeremy Taylor and David Turner decided to get together to jointly manage these clubs, with the aim of building up a network of gyms with first class facilities. In 1996 they created the LA Fitness brand and the following year they joined the top ten health and fitness club operators, catering to a wide variety of people of all shapes and sizes and with a huge range of goals. In 1999 the growth and success of the LA Fitness group led to a listing on the London Stock Exchange. In 2005 the team decided they needed more control - they wanted to make sure LA Fitness could continue to provide affordable membership and a fun environment for its growing
The potential consumer target markets fall into two categories; the segments will be referred to as “Suburban Select” and “Young & Active”.
Our Fabletics campaign will focus on consumers, primarily females, who already purchase online, since they will have an understanding of how online shopping works. With a focus on consumers who show interest and willingness in being fit and living a healthier life and consumers who are into the new media world, meaning consumers who can be targeted primarily through social media. The demographic profiles of these consumers would be females between the Millennial and Generation X ages. This is between the ages of 18 and 40. These consumers will belong to three subcultural groups, Caucasians, Hispanics and African-Americans. All in the US because my brand is an American brand. The psychographic of these consumers would be those who share the same interest as wanting to be fit and healthy. Consumers who like and want to wear nice workout clothes but don 't want to spend a lot of money on it. Also, online shopper because this brand is only available on our website and will not be found in stores. These consumers will have to share the same motivation or have to same end goal, living a healthier life. Our consumers will have to be motivated, because motivation drives consumers to buy. These consumers would want to be in the happening now, which luckily for our brand is "being fit". Then we will also have those consumers who
Planet Fitness has taken the workout world by storm, reaching an amazing store count of 1,124 in only 23 years of business. This outstanding success didn’t occur through luck, but through fantastic marketing strategies that have had a considerable impact on other gym’s ideology on how to attract customers. In this paper, Planet Fitness’s creative marketing plan will be described in full, from what their product offers to how they successfully attack an extremely competitive market.
A stakeholder is someone who has an invested interest in the business and during the development of Therapy Life Centre’s marketing strategy it is important that the stakeholders are engaged. Stakeholders can be both internal and external to the business, for example an external stakeholder could be someone whose products Therapy Life Centre displays and sells in the centre, and an internal stakeholder can be someone in the finance or customer services department. There is a large value of engaging stakeholders because in regards to marketing I may be able to make use of their expertise, for example if I was promoting a acupunture therapy by using one of the therapists (who are one type of stakeholders in The Therapy Life Centre) I will be
The mission of this fitness center is to provide fitness in the daily life of all its members, who wish to live a long and fit life.
Advertising programs at health clubs, gyms, groceries, restaurants, promotional events, national and cultural events like Carnival ventures.
I would also use street advertising, using signs or banners. This has proved to be quite effective in my experience as well.
Our primary target markets are the younger generations across the U.S. as they tend to be more open-minded to new ideas and represent the future of our country.
I help Health Coaches in a unique way by providing specialized training & industry insight and industry on custom-tailored marketing for their special niche. Instead of spending hundreds of hours on ineffective self-promotion or thousands of dollars on outsourcing to marketing agencies, they will LEARN about effective marketing strategies and highly effective tools - and will be able to effectively APPLY these strategies to their own business. My services empower Health Coaches to clearly distinguish between services that require outsourcing and services they can provide on their own - and will enable them to promote and excel their business on a professional level.
The initial start up cost of this type of specialized gym and nutrition center will be high in comparison to a regular gym. Employee's wages will have to be above average to employ people that are specialized in this field and there will also be high cost to obtain some of the assets including workout machines and kitchen equipment. We will be able to offset some of
36! Fitness seeks to use its core competencies to achieve a sustainable competitive advantage, in which competitors cannot provide the same value to consumers that our company does. Our fitness studio has established the following core competencies: providing a high-quality, branded service, creating brand awareness, developing a sense of community among customers who utilize our services, and building a solid reputation in the community. 36! Fitness intends to build on these competencies through marketing efforts that will help us meet our goals.
Diamond Evolution Fitness Center specializes in providing individuals who are not able or comfortable going to a traditional fitness center an opportunity to reach their goals. Our staff provides clients with the training needed to evolve their body and create the physique they desire. Diamond Evolution fitness Center would like to ensure our clients do not contribute to the $190.2 billion spent annually on obesity-related illnesses, or have additional health care cost because they are obese. These costs are roughly 42% higher or $1,429 more annually than for the non-obese population (President’s Council on Fitness, Sports & Nutrition [PCFSN], n.d.).
JAG will be looking to support its local charities, community events and health awareness. Jag will be encouraging young people to become active by marketing the benefits of exercise and a healthy life.