Essays on The Market in Hobart Tasmania Case Study

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The paper "The Market in Hobart Tasmania " is a great example of a marketing case study. Crossfit health and fitness centers are spread across the world and are well established in the Australian market. The unique fact about these centers lies in the support and sense of belonging it receives from the surrounding community that seeks to attain healthy lifestyles. As a well-established fitness center, Crossfit Geelong seeks to open a new Crossfit center in Hobart, Tasmania. Creating, writing and implementing a marketing plan begin with an analysis of the industry and concludes with implemental marketing programs and marketing strategies.

The results of the marketing analysis, with specific consideration to the industry analysis, market mapping, product and competitive advantage and competitor analysis, shows that the potential of establishing a new Crossfit outlet in Hobart is very strong since the market is still untapped and the presence of its competitors is very low. The market analysis further reveals that in order to maintain customization features, Crossfit should identify the fitness programs and adjust its time schedule to suit this geographic segment.

In addition, the analysis suggests that the company should keep watch on the possible economic expansions in the wider market, as well as the likely impact of restricted spending that has been predicted with regard to the future of the leisure activities. Considering the need to target the untapped market in Hobart, this paper seeks to provide a marketing plan for the new center. The issues to be discussed include the marketing objectives, the marketing mix that would be applied to accomplish the outlined objectives and a plan for implementation and evaluation. Marketing objectives The market in Hobart Tasmania has an untapped potential, which therefore means that the new center can take advantage of this opportunity to target as many customers as possible.

The existing fitness centers are eight catering for a population of about 230,000 people. It is certain that if this center applies effective marketing strategies, it can attain a larger percentage of the market share, which would then contribute to an increase in the company’ s revenues. Some of the specific marketing objectives for the Hobart center include: Increasing the company’ s revenue by 25 per cent after a period of two financial years Attain a 30 per cent market share by the end of two financial years Understand and satisfy the customer’ s demand Enter the health and fitness industry successfully Become a leader in the health and fitness market Marketing mix Marketing mix can be defined as a mixture of marketing tools can be applied to satisfy clients and attain the company’ s marketing objectives and goals.

The customers usually refer to these as the offering, which is generally controlled by the four marketing Ps: product, price, place, and promotion (Henry, 2009).

However, a company can also employ other strategies such as value proposition and Offensive and defensive strategies. A company employing these elements has the capacity to reach various clients within its target market. It is true that the combination and coordination of these elements will result to be more effective than depending just on one element. Product A company’ s strategy is guided by being the best at producing or providing what its consumers fell is the best and satisfies their needs (John, 2011). The new Crossfit center in Hobart-Tasmania product strategy should be able to attract as many customers as possible while retaining the existing customers by ensuring the services it offers to meet the customers’ expectations.

The center should focus on promoting a positive and unforgettable experience that would enable its customers to attain a healthy lifestyle. This would enable the center to separate its experience from the other fitness centers and in turn attain a competitive advantage. To separate themselves from other centers, Hobart centre should provide modern exercise facilities, personal training that go in line with some nutritional advice, and professional trainers for its clients.

This would enable it to maintain high-quality standards and competitiveness. Crossfit’ s major concentration is health and fitness, and this is what the centre offers. Therefore, the main products are exercise facilities for cardio and aerobic. Other products provided in the centre include elliptical machines, strength equipment, stationary cycles, treadmills, free weights and stair-climbers. Furthermore, the center also offers exercise classes for both children and adults such as body sculpting, cycle, cardio combo. The center has also developed the work out of the day concept where the enrolled members perform a new workout each day, a fact that seeks to increase the innovation and novelty aspects of the workout.

References

Armstrong, G. & Kotler, P. (2000). Marketing: An Introduction, 5th ed. Singapore: Person

Barnes, C. Blake, H. and Pinder, D. (2009). Creating and Delivering Your Value Proposition: Managing Customer Experience for Profit. New York: Kogan Page.

Crossfit Geelong Website. (2011). Retrieved from http://www.crossfitgeelong.com.au/

Henry, J (2009). Marketing: An introduction (9th ed.). Upper Saddle River, NJ: Prentice Hall.

John, S, and Michael J. (1998). How to prepare a marketing plan: a guide to reaching the consumer market. London: Gower Publishing, Ltd.

John, W, (2002). The marketing plan: a step-by-step guide. New York: Kogan Page Publishers

John, W, (2011). How to Write a Marketing Plan: Carry Out a Marketing Audit; Establish Objectives and Strategies; Create an Effective Plan, Creating Success. New York: Kogan Page Publishers.

Koichi, S. (2009) "Advertising Theory and Strategies,"16th ed, Souseisha Book Company.

Malcolm, M, (2007). Marketing plans: how to prepare them, how to use them. New York: Butterworth Heinemann.

Thomson, A. A. Jr. & Strickland, A. J. (2003). Strategic Management Concepts and Cases. 13th ed. New York: McGraw-Hill Publishing Company Ltd.

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