The following assignment is about the industry and market analysis of the Sharp Shape Fitness club. The relevant background information including an outline has to be presented with the current industry trends, the state of the global market and the state of the Australian market as well. In the given requirements, it is said that the market needs to concentrate on its suppliers, buyers, potential entrants and the threat of the new entrants in the market, the investors who provide the money to run the business. The rivalry between the existing companies and the new entrants is always a fierce one because the competition to attract the customers is getting really tough every day. The progress and the development of a fitness training institution like the Sharp Shape Fitness Club has much to do with the state of the global market (Mooji, 2013). The state of the global market has a very large impact on all the marketing in the local and national spheres. The global objectives of improving the condition related to the needs of the customers. As the awareness of people to get healthier and fitter has been increasing, the need for opening new fitness centers has been on the rise as well. The state of the Australian markets has to be assessed as well because it has to meet the needs of the local Australian people. The need to specialize in one sector is very important because the outcome of the project is all that makes all the difference. There is also a sharp rise in the need for fitness gyms in the country. The fitness gyms not only provide best health solutions to their millions of customers, but also they provide a good range of employment to fitness instructors in Australia.
Strategic development is one of the most important tools that help a new company to grow and make a market of its own. Some conditions have to be kept in the mind so that the company or the organization will be able to reach its objectives.
These are also called the macro-environmental environments. The marketers also monitor it so that the problems can be identified and they can be solved accordingly. These are Political, Economic, Social, Technological, Environmental and Legal (Jurevicius, 2013).
In the above figure presented, it can be clearly seen that all these six factors have a vital role in determining the strategy according to which the organizations should follow their path of rise and sustenance.
Australia is a politically stable country so the political environments would need to be supportive so that no objections can be raised from the political parties or any other authority during the structuring of the gym. Though the economic factors do not directly affect the business but it affects the business regarding money, goods and services. The environmental factors are very important because the environment of the area where gym is to be set up must be at a place where the customers can turn up easily. The legal factors include the areas where the Management of fitness gym must abide by the legal procedures and not break laws in any circumstances. The industry environment is very crucial for setting up the organization because the business credentials and the customers’ attention will be deeply involved with this. Bad industry environments will decrease the number of the customers.
In this part, the bullet points have to be highlighted. The main factors that would influence the strategic planning are the environmental factors and the kind of environment they will provide to their customers. They must employ instructors with polite behavior, take proper steps to secure the economical conditions and ensure no legal barriers are violated. The strategic planning has to be fixed after targeting the segmented customers all over (Hitt, Ireland & Hoskisson, 2012).
Porter’s five forces is a strategic tool that is very helpful in determining the level of competition that a company has to face in every sphere when it is growing in the industry (Dobbs, 2014). The growth of a company depends upon this strategic tool and also helps the Management of the company to plan about the certain strategies. These five forces include the bargaining power of the buyers, suppliers, new entrants in the business, product substitute and most importantly the rivalry of the industries. As contrary the macro environmental factors in the PESTEL analysis, these factors are related to the micro environment (Pulver, 2012). The assessment of situation in the industry competition has to be done very frequently. A pure competition has to be faced by all.
This factor is very important because it enforces upon the importance of competition in the industry.
Thus, the Sharp Shape Fitness Club must also focus on their goods and its quality. They must also look to fix the monthly rates of the subscription to attract the customers than other rival fitness gyms.
In this part of the narrative, the main parts of the Porter’s five forces have to be analyzed in course of the fitness club discussed here. The three prime factors of this are the industry rivalry that these companies may indulge in. In Australia, people are becoming more and more conscious about their health and consequently, more and more fitness clubs are opening. Sharp Shape Fitness Club has to keep its place in this race to keep themselves alive in this competition, (Thompson, 2014).The buying powers of the customers has to be assessed by the club Management and fix their monthly subscription fees. The threat of the new entrants here implies to the new fitness clubs that are opening in the country. Sharp Shape has to maintain their product quality to compete with others.
In this part of the discussion a table has to be drawn the external forces that influence the industry and the key success factors that will lead to its success in future.
Key success factors
The first external force that will affect the fitness industry is the kind of environment that the gym is set up.
The gym has to be set up in a place that can be availed by all the people in the location, probably in an open space.
The proper marketing has to be done before inauguration of the club.
Leaflets should be distributed among the people of the locality and advertisements should be given in the media to inform the people.
The customers will need a private space in the gym and a proper gym instructor.
The space of the gym should be wide to give every member has a proper space.
The gym must have a good dietician who can be able to provide the customers a proper diet chart (Freeland-Graves & Nitzke, 2013). The installation of fitness materials should be done according to the needs of the customers.
The customers should be benefitted by the diet charts provided. It should be made sure all the materials are properly installed.
In this section, the topic of the KSF or the Key Success Factors should be clarified and the need for adapting the key success factors should be discussed. Key success factors or the KSF are the important tools that are used in the business planning (Scholes et al., 2014). These factors are not determined by the industries themselves. These factors are developed and identified for the marketing criteria. These are critical planning that influences the relationship between the customer and the company. In the first place, the company should focus on developing the business and to do that they should develop a proper business strategy (Verbeke, 2013). Every company has a goal or objective that the company wants to attain. In order to do so, they should identify the key factors that will lead them to their success or attaining their goals. These are the basic steps that the company should give its prime concentration on. In the case of the fitness industry, the concerned company should focus on the basic needs of the customers and make the proper fulfillments.
In this part of the assignment, the topic of the discussion is to evaluate the value of the rational models discussed in the above. The models that have been discussed are the PESTEL analysis, Porter’s five forces and the Key Success Factors or KSF. These factors are very important in terms of business planning or strategic planning.
The first model that has been discussed here is the PESTEL analysis (Yüksel, 2012) It is a very important tool for fixing the business planning. Marketing strategy is so much important in the marketing aspects that it should be adopted by every emerging company in the business industry (Coase, 2012). An industry needs to cope up with all the six essential aspects that are depicted in the framework. The political aspect is important because the companies need to set up the company in the society and it should respect all the political opinions. The economic aspects are indeed important because without proper financial investment, no company can proceed further (Goodman et al., 2013). All of them plan a proper strategy regarding the economic backups. Social aspects should be considered so that the strategic planning can be done properly keeping the social values of people in mind. The technological are crucial in terms of providing the company with proper installing of the needful materials in the company. Environmental aspects are important to maintain a healthy environment in the locality of the company. Legal values should be followed to avoid any penalizing by the laws and the police. No employee should indulge in unlawful activities.
In the Porter’s five forces, the five aspects have to be kept in mind to focus on the strategic planning of a company (Dobbs, 2014). The companies face challenges every moment and it is very difficult to retain its market in the competition. They have to assess the rival companies that are challenging their customer base and identify their new competitors that are coming to challenge them. The companies should conduct a proper market survey to keep updated about the current bargaining power of the buyers. They will have to determine their selling costs according to the affordability of the customers. These are very much important for a proper strategic planning (Smith, 2013).
The final segment of the discussion continues on to the importance of KSF in strategic planning. The question is if the companies do not recognize their strengths and weakness how can they identify their success factors? The companies must identify their strengths to assess the key success factors to make the future planning for the growth of the companies. In the fitness industry, it is very hard to maintain its position as lots of new clubs are emerging and they are giving eye catching discounts to the customers. Sharp Shape Fitness Club must also keep these things in mind and develop their strategic planning according to the needs of the customers. These are indeed essential tools.
Coase, R. H. (2012). The firm, the market, and the law. University of Chicago press.
De Mooij, M. (2013). Global marketing and advertising: Understanding cultural paradoxes. Sage Publications.
Dobbs, M. (2014). Guidelines for applying Porter's five forces framework: a set of industry analysis templates.Competitiveness Review,24(1), 32-45.
Freeland-Graves, J. H., & Nitzke, S. (2013). Position of the academy of nutrition and dietetics: total diet approach to healthy eating. Journal of the Academy of Nutrition and Dietetics, 113(2), 307-317.
Goetsch, D. L., & Davis, S. B. (2014). Quality Management for organizational excellence. Upper Saddle River, NJ: pearson.
Goodman, T. H., Neamtiu, M., Shroff, N., & White, H. D. (2013). Management forecast quality and capital investment decisions. The Accounting Review, 89(1), 331-365.
Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2012). Strategic management cases: competitiveness and globalization. Cengage Learning.
Jurevicius, O. (2013). PEST & PESTEL Analysis. Strategic Management Insight, 13, 2013.
Marshall, S. (2013). Evaluating the strategic and leadership challenges of MOOCs. Journal of Online Learning and Teaching, 9(2), 216.
Pulver, S. (2012). Business and the Environment.
Scholes, K., Regner, P., Johnson, G., Whittington, R., & Angwin, D. (2014). Exploring strategy: Text & cases. Pearson.
Smith, R. D. (2013). Strategic planning for public relations. Routledge.
Solomon, M. R. (2014). Consumer behavior: Buying, having, and being (Vol. 10). Engelwood Cliffs, NJ: Prentice Hall.
Thompson, W. R. (2014). Worldwide survey of fitness trends for 2015: what’s driving the market. ACSM's Health & Fitness Journal, 18(6), 8-17.
Verbeke, A. (2013). International business strategy. Cambridge University Press.
Yüksel, I. (2012). Developing a multi-criteria decision making model for PESTEL analysis. International Journal of Business and Management, 7(24), 52-66.
To export a reference to this article please select a referencing stye below:
My Assignment Help. (2018). Business Strategic Planning For Public Relations. Retrieved from https://myassignmenthelp.com/free-samples/business-strategic-planning-for-public-relations.
"Business Strategic Planning For Public Relations." My Assignment Help, 2018, https://myassignmenthelp.com/free-samples/business-strategic-planning-for-public-relations.
My Assignment Help (2018) Business Strategic Planning For Public Relations [Online]. Available from: https://myassignmenthelp.com/free-samples/business-strategic-planning-for-public-relations
[Accessed 10 April 2020].
My Assignment Help. 'Business Strategic Planning For Public Relations' (My Assignment Help, 2018) <https://myassignmenthelp.com/free-samples/business-strategic-planning-for-public-relations> accessed 10 April 2020.
My Assignment Help. Business Strategic Planning For Public Relations [Internet]. My Assignment Help. 2018 [cited 10 April 2020]. Available from: https://myassignmenthelp.com/free-samples/business-strategic-planning-for-public-relations.
MyAssignmenthelp.com delivers assignment help to millions of students of USA. We have in-house teams of assignment writers who are experts on wide ranges of subjects. We have appointed teams of native writers who provide assignment help to students in New York City and all over the USA. They are skilled assignment writers who successfully cater to search terms like do my assignment in the USA
Answer: Introduction The intent of this paper is to present a report related to the implementation of an information system in Optus Company to assist it in improving its procedures and productivity in the industry. The information system could be any organized combination of people, software, data resources, communication networks, hardware, process, and policies that recovers, stores, converts, and distributes information in a compa...Read More
Answer: Introduction In the workplace, it can be said that to attract and retain the employees is considered as one of the motive of the organization. It is considered as the concept that states that retention in the workplace is important so that culture of the company can be maintained. If employees are retained then positive impact can be seen on the overall activities assigned by the top management. But in the present scenario, attraction...Read More
Answer: The notion of risk Risk identification According to the AS/NZS ISO 31000:2009, as cited in The Australian Government (2009), the risk is the effect of uncertainty on objectives that could be positive or negative and could involve different aspects. Risk management reflects the management policies, procedures and practices that could be applied by organizations for the purpose of establishing tasks. It includes several activities like...Read More
Answer: Introduction Privacy, trust, and data security are intertwined according to ethics and laws. Personal information is so important for a person. It cannot be used by anyone without the information to that person. It is an ethical thing to secure personal information to every person. Privacy protection provisions rely on trust. Security providers are provided grantee to their data. Violation of data security is also a crime, as pe...Read More
Answer: The places of work of a human being is one of the places wherein the individual spends a majority of their time. The most common type of harassment that is faced by the employees of the organization is the harassment that face in terms of the sexual discrimination within the workplace (Williams, 2018). This is generally faced by the female employees of the organization as is reported in the majority of the cases. The major common good ...Read More
Just share your requirements and get customized solutions on time.
Our writers make sure that all orders are submitted, prior to the deadline.
Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.
Feel free to contact our assignment writing services any time via phone, email or live chat.
Our writers can provide you professional writing assistance on any subject at any level.
Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.
Get all your documents checked for plagiarism or duplicacy with us.
Get different kinds of essays typed in minutes with clicks.
Calculate your semester grades and cumulative GPa with our GPA Calculator.
Balance any chemical equation in minutes just by entering the formula.
Calculate the number of words and number of pages of all your academic documents.
Our Mission Client Satisfaction
Just submitted my first assignment, and so happy with the quality! Will highly recommend.
work done nicely on time. the price was so affordable and reasonable. this is my fourth assignment done by the site.
The assignment requirements was met and the assignment was delivered timely. Pleased with the service provided and would recommend it if you are in a rush and other commitments! Worth it for the price paid as quality work was provided.
Assignment requirements were met adequately. Expert worked on the assignment swiftly and delivered the assignment timely.