The paper "Strategic Marketing Plan for SportUNE Fitness and Wellbeing Products" is a great example of a marketing case study. In Australia, SportUNE is regarded as one of the best university sporting precincts; this university offers various sporting programs, facilities and services that are flexible to their customers. There is a 7day harmonious, relaxed and friendly atmosphere that is ripe to cater to individuals of all ages and fitness levels. This sporting precinct is positioned to helping people achieve a more balanced, healthier and happier lifestyle through various professionally designed programs coupled with the support of highly qualified instructors.
In order for SportUNE to meet its business goals of excellently serving its customers as well as make profits, it must have a marketing strategy that guides its business operations. A marketing strategy is the organization's plan for increasing sales and achieving a sustainable competitive advantage in the marketplace. It is a combination of both basic and long-term activities within the marketing field and deals with the analysis of the strategic initial situation of the organization and formulation evaluation and selection of market-oriented strategies to contribute to the marketing goals and objectives of the company.
The expansion of SportUNE has introduced new sporting products and services including personal training, corporate fitness and wellbeing, group fitness classes, the gym, and personal training. These activities are categorized under the Fitness and Wellbeing package. This paper is a strategic marketing plan for SportUNE that describes how the company can position its Fitness and Wellbeing package to attract more customers. In order to achieve this objective, the paper will discuss the product life cycle (PLC), the market entry strategies appropriate for the company to succeed in its venture, and the new economy markets. Product Life Cycle This is a business technique that marketers use to list the stages in the lifespan of a commercial product (Aaker & McLoughlin, 2010).
PLC is specifically used to determine the product’ s lifespan; the natural or normal stages that a product undergoes through over its lifespan. Understanding the PLC is vitally important particularly in making strategic programs; it provides a clear picture of the product’ s future while at the same time anticipating the critical changes that are to be made.
The main focus of PLC is on the sales history of a product and/or class of products. It has been established that any product has five stages/phases in its life cycle; each of these stages has its own unique characteristics which have a different meaning for the company that is trying to manage the product. The four product life cycle phases include: Introduction Stage Growth Stage Shake out/competitive turbulence Maturity Stage Decline Stage These stages can be presented graphically as shown in the graph below Introduction Stage This is the most expensive stage for any company due to the fact that it is when the new product is being launched (Kotler, Shalowitz & Stevens, 2011).
In this regard, the product’ s market size is very small and hence the sales are low but gradually increasing. Accordingly, expenses related to distribution and expenses are sky-rocketing; this phase is characterized by high risk and uncertainties.
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