Executive Summary
Gold’s gym is a fitness club planning to offer fitness specific products and gym services within New Hampshire. The gym plans to offer differentiated services to clients based on their specific fitness wants. These include special lessons to groups of people with different needs around New Hampshire Community college.
Environmental Analysis
George Burke and Cathy Edwards are the founders of Gold’s gym and Timothy Best is the operations director. Erica Melanie is in charge of the gym’s marketing operations. The environment is one of the most important factors in the analysis of market performance (Proctor, p.126).
Competitive Forces
There are several gyms offering the same product but none that is currently offering specialized group training services. This is a new concept in training within New Hampshire. Potential competition stems from the fact that other fitness clubs might discover this new concept and start offering similar services.
Economic Forces
The gym targets middle-class New Hampshire residents and college students especially those from New Hampshire Community College for this new product. The advertisement will, therefore, be limited to these two target groups.
Political Forces
The gym has fulfilled all operational requirements under the law for businesses. Currently, there are no political or legal forces affecting the rolling of the new product into the market. Advertisement of the product, however, will be limited to the New Hampshire community to avoid any further legal issues.
Technological Forces
The new product will require new machines and technology favoring group training. Current technological developments in the fitness industry such as computer-aided training, presentations, and communication gadgets are necessary for this new product.
Socio-cultural Forces
This product ensures faster and greater results to those seeking to achieve their fitness goals. Group training employs a structured routine where people act in groups to enhance each other’s physical development.
Target Markets
Gold’s gym new product focuses on individuals requiring specific fitness assistance for their needs. This product aims at giving fitness clients a group exposure necessary for their psychological development in terms of training thus enhancing their physical progress. The primary target will be New Hampshire residents and college students within the region.
Marketing Objectives and Performance
The gym plans to capture a considerable number of clients from New Hampshire before rolling out the program to other regions. Evaluation of performance will be based on customer feedback.
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