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Marketing Strategies

Marketing Strategies. Body Shape and Mind Group LTD. --Rebecca Martin --Marcus Blackman --Josh Colter --Ane Muvadgah --Sajal Pant. Marketing Objective. Offering a service of a health club through contracted membership

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Marketing Strategies

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  1. Marketing Strategies Body Shape and Mind Group LTD. --Rebecca Martin --Marcus Blackman --Josh Colter --Ane Muvadgah --Sajal Pant

  2. Marketing Objective • Offering a service of a health club through contracted membership • Servicing diverse and sophisticated individuals interested in incorporating physical fitness with the yoga sciences

  3. Marketing Goals • To gain 400 members in the 1st year of business and within the year double our customer base through research and strategic market positioning using the 4 P’s.

  4. Both genders • All races– Specifically white, african-american and hispanic • Family status- married or single/may or may not have children • Income level—35,000-and up • Ages– 25 years-45 years Market Segmentation Demographic Analysis

  5. People who value mind/body wellness • People who desire to be or want to stay physically fit • Eco-friendly people Market Segmentation Psycho-graphicAnalysis

  6. Place Utility-We will concentrate on the community surrounding the neighborhood as a convenient place to work-out until further research is compiled. • We will be compatible with surrounding competitors Market Segmentation Geographic Analysis

  7. Customer Research and Data • Need Recognition We will gain basic customer information through a survey to be filled out when applying for membership in the contract We will offer a discount to their first 50 customers to increase customer base • Evaluate Alternatives We will research other fitness centers to see what they are offering to their clients and simulate their actions with an edge • Outside variables If the economy is in recession we will offer incentives such as discounting memberships for customer referrals or a small percentage off for customers renewing contracts

  8. Product • We offer a health club featuring the incorporation of yoga science • State of the art machinery • Well trained personal trainers and instructors with yoga expertise teaching healthy lifestyle for mind and body completeness • Flexible times for classes • Offer books, and videos to help teach the yoga concepts • Calm, encouraging atmosphere • After the making profit for 3 consecutive months, reinvesting into business by incorporating a healthy snack bar for clients

  9. Price • Our services will cater to middle and upper class clients who will not be price sensitive, as they value the quality of our service • Will have excellent customer service- going back to the ‘old school’ slogan “the customer is always right”, thus creating customer loyalty • Prices will be comparative to competitors • Prices will include building upkeep (trash service, disinfectant of machinery, bathroom upkeep etc.) • 1st couple of months business partners will do upkeep • After profit is made for 3 consecutive months we will hire a small, local, janitorial service to keep prices down

  10. Place • Location is on West Memorial • After initial opening we will advertise to spread our customer base • We will expand to different locations after the 1 consecutive year of turning a profit

  11. Promotion Advertising will consist of – Local newspapers Flyers with coupon incentive Pre- Grand opening-commercial and newspaper to get locals talking (viral marketing) Local television commercials running twice a week, every 3 months

  12. Time Line • November • Market research • Focus groups • Internet research • December • Marketing budgets assigned • Draw up Hire employees • Marketing programs begin • Initial contact with community • Offer discounted service to 1st 50 customers • January • Marketing program begins • Initial contact with community • Offer discounted to first 50 customers • February • Gain and review data information from contract surveys • Upgrade- incorporate customer ideas, wants, and needs • Viral Marketing • March • Grand opening • April • 1st months to break even • Spring time in full bloom-more business • Summer months • More clients/ Reinvest into business

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