Discuss about the Identify and Evaluate Marketing Opportunities.
The report is presenting the opportunities of marketing plan to meet the organisational objectives of FitLife Health Club Strategic Marketing Plan 2015-2020. In this study, the marketing plan is analysed to determine whether the company is able to meet the organisational goals and objectives in future. Therefore, the market opportunities for the company as well as strategic issues are discussed to find out the solutions for these. In addition, the solutions for the issues are also recommended to improve the situation.
Current Strategies of the Company
In this report, a fitness company FitLife, which is situated in Sydney in Australia. The current strategies of the company are presenting the market situation. In current days, the company has expanded its business in almost eAustralia with 70 health clubs. It has now almost 182,000 active members who are associated with the organisation. It is an active health club providing the multi-purpose fitness venues across the country (Dubuisson, 2013). They are giving the facilities of swimming pools, squash courts, sport clubs and many more. Now the company is trying to concentrate on the new mission of the organisation. Along with the expansion of the company, the organisation is trying to improve their services. They are now introducing their new service such as, they are introducing new swimming pool of 50 metre outdoor pool and with this a 25 meter indoor pool, along with gymnastics hall, recreation hall, classes of yoga, cycle, full body lift, Pilates, fat burner etc (Czinkota & Ronkainen, 2013).
According to the marketing plan report, the organisation’s mission is to communicate with the people with providing them a good and innovative program of fitness practices to be fit. They want to motivate the people irrespective of age differences for regular exercise. They are trying to motivate the people who do not practice exercise regularly and do not think that it is an essential for good health. Therefore, their main motto is to make the people believe and attract o their fitness training system. It will help the people to keep them fit as well as will spread the business of the company. Moreover, the company’s current business strategy is to spread their business among the people with innovative style that it attracts them to come and work out for being fit. The main objectives of the company in recent times are following
- Develop a minimum of two innovative fitness and wellbeing programs within the next twelve months.
- Introduce the Health Bar in the most revenue generating and competitive health club within the next six months.
- Develop a system in the next nine months to provide health and wellbeing services to prospective clients whom demand offsite support.
- Open the physiotherapy facility in the next twelve months, having two physiotherapists ready to provide a dynamicm physiotherapy practice to all members and non-members.
The report is showing the strength, weakness, opportunity, threat of the company in the SWOT analysis. It is observed in the analysis that the company has more positive ends than the negatives. Therefore, it is clear that the company will get many opportunities on the market to spread their business worldwide. As the fitness organisations are in trend now therefore the company will get the opportunity of consumers’ need for the fitness club. Therefore, the organisation can get the opportunity of international expansion. The company can expand their business in worldwide. They can improve their quality of service by appointing recognised trainer and new training session. They have the opportunity to introduce the distance classes as well as online classes. Additionally, they can expand their business through the products. As they deal with the fitness services therefore, they can offer the people about new innovative products to become fit. The company has very less competitor in the market. Therefore, they have to marketing opportunity to use this and to expand their business. As the competitors have not reached the level in their business like the FitLife, the other companies cannot develop or expand their business in fitness. Therefore, it is the opportunity for the company that can be used to develop their profit as well as market. The4y can also take part in the Iron Man Loyalty card program to retain current customers. This is very important for any company to retain their existing customers. Therefore, they have to focus on the existing customers to retain them with new innovative procedures of providing fitness. They have the opportunity to attract the non-members with introducing innovative services for them. They can introduce the physiotherapy services for them to give the members safety regarding fitness training. It will increase their reputation that they are very careful about the health of their customers. As the location of the organisation is in the capital city of Australia, therefore it gets the opportunity to take part in the awareness programs of the nation. They have participated in the Australian Government public awareness programs on smoking, obesity and many other health illnesses have had significant impact on changing the culture of our people towards living a healthy lifestyle, which has stimulated public’s willingness to exercise regularly and follow a balanced diet (Kotler et al. 2015).
Strategic Issues of the Company
Although the company has many opportunities to expand their business in the market but still they have some strategic drawbacks that is resisting them to expand its organisational objectives. One of the most important issues that the company is facing in recent times is the lack of direct distribution in the international markets. Therefore, the price of the products and services are increasing. It will decrease the population of the company among the customers, which will be not expected for the company. The club has used another wrong strategy that they have a lack of proper personal trainer to train the members. It has created a very bad impression to the new members. Generally, in the present days every organisation presents their business in the online website. However, FitLife has not updated their online business properly. It has led them towards losing their business before the new generation.
Solution to the Strategic Issues
As per the report, the company is facing many strategic issues regarding the marketing policies and business strategies. These strategies are resulting opposite for the company and they have to now solve the problems to improve their business. They have the lack of direct distribution in the international market therefore; they can implement the Low pricing strategy in business (Wilson & Gilligan, 2012). Therefore, this strategy will help to decrease the price of their products and services to get the profit in business again. Another issue that the company is facing is the weak website. Therefore, the company is facing a communication gap with the new generation customers. This is hampering the overall business of the company. In this case, they can use the strategy of Online marketing strategy to implement new updated website. It will improve their promotion in the online platform properly, which will decrease the communication gap of the new generation. If the club will implement these strategies in their business then they can improve their market in future.
The report is showing that the company is facing some strategic issues, which is decreasing the value of the company before its customers and the company is losing its reputation. Therefore, here are some recommendations for the company to improve this situation,
- The company should implement new strategies to recover the situation. Therefore, the company should implement the new pricing strategy for their products and services. It will help to set the limit of the price levels of the company’s products and services.
- They should implement the new online marketing strategy for updating their online business. It will help to promote their business as well as their services to the new generation. As a result, it will increase their number of customer.
While concluding it can be said that FitLife is pursuing the problems in their marketing strategies, which are restraining their business to flourish worldwide. Therefore, the study has focussed on the strategic issues that the company is facing. They have lack of direct distribution in the international market and having high price problem. This can be solved by implementing the low pricing strategy. There is another problem that has pointed out is the weak online promotion. Proper updating of the website can reduce this. Therefore, the report has analysed the marketing plan of the fitness club with recommending some solutions for these.
Dubuisson-Quellier, S. (2013). A market mediation strategy: How social movements seek to change firms’ practices by promoting new principles of product valuation. Organization Studies, 34(5-6), 683-703.
Wilson, R. M., & Gilligan, C. (2012). Strategic marketing management. Routledge.
Kotler, P., Keller, K. L., Manceau, D., & Hémonnet-Goujot, A. (2015).Marketing management (Vol. 14). Englewood Cliffs, NJ: Prentice Hall.
Czinkota, M. R., & Ronkainen, I. A. (2013). International marketing. Cengage Learning.