NN12 Business Management : Analysis of Marketing Strategies

1. Executive summary. This is a brief extract which outlines the scope of the report and its main findingsRemember to put this before the contents page, and maximum half page, with facts figures and outcomes in it.

 

2. You should include background information to the business and any issues that are particularly relevant Remember that location maps, pictures etc are good here and do not use up your word limit. (reference them).

6. Analysis of the primary and secondary sources of information and data collected. You may find it helpful to present some of your data in appendices and refer to them in the main body of you report. Appendices do not count towards the overall word limit. As described? You could consider doing some basic financial analysis of any figures produced or even basic statistical analysis?

Introduction:

The given research report is related to a business in which we have selected the target area of Scotland, UK. The business plan is mainly focussed towards building up of a gym and children facilities along with it.  The name which we have selected for this particular business is ‘Goldie’s Gym and Baby Care Centre’.

While a survey done across whole Scotland it has been identified that parents are very much concerned about their health and with their babies’ proper care and this is the main reason behind selecting this kind of business model. So, keeping in mind this need we will build up such a place where parents can keep their children and also they can take care of their health. This will provide them two kinds of benefits:

1. They will be getting a chance to monitor how their kids are being taking care off
2. Secondly they can also take good care of their health alongside(Howat, 2012).

Analysis of the Business Plan with respect to different Business Models

Scotland is known as a highly developed part of the United Kingdom with around 5.3 million people. With healthcare services like Gym’s and healthcare centre’s becoming easier to access and cheaper to avail, there are a plethora of new one’s being launched each month. While, this might be a great opportunity for a new GYM to be opened in the Scotland area, there are certain factors that require close evaluation and discussion to make them the most impactful. In order to create a product that is different from the competitors around the company, there is a need to add some additional or unique features (Gordon, 2014). To stand out the ‘Goldie’s Gym and Baby Care Centre’will have special Baby Care services along with strata of the art Gym facilities. While healthcare and staying in shape can become anyone’s target, achieving it and later on maintaining it becomes tough for moms and all the mom-to-be. While ‘Goldie’s Gym and Baby Care Centre’will provide all the latest perks of a City Gym, it will facilitate Mothers and Pregnant women to be a part of the Gym facilities and help keep them in shape (Murphy, 2010).

This unique perspective and a Baby Care service section assures that Taking care of the child will not mess up the workout sessions of moms and dads. While the idea generation is the first step towards the actualization of the plan, the first idea must be a completely valid one to become implementable. The second phase is to plan how to achieve this in order to accelerate the success of ‘Goldie’s Gym and Baby Care Centre’. The idea behind the gym needs to be backed by internal intent, which is realized through the careful examination of personal, financial and social goals. In order to find relevant information and to establish the right sequence for successful opening of the new ‘Goldie’s Gym and Baby Care Centre’, we have used data from Government sources and Mintel. The Mintel is a reliable source for market research and facts and other facts and government statistic are used for evaluating the project of opening new Gym.

The first aspect to consider is the place for business, and in this respect the Porter’s 5 forces framework is a guideline. ‘Goldie’s Gym and Baby Care Centre’is a new gym with two Gym’s located really close. There are five forces to the development of any business, according to the framework, factors like the buyers buying capacity and power of bargaining, threat from competitor for substitution matter. With Goldie’s Fitness, it shall not be a completely new concept in Scotland, but there is option to undergo massive changes. In order to incorporate the Porter’s 5 Forces theory we might want to look into how the theory is used to categories the different factors that contribute into the marketing of a new product such as the ‘Goldie’s Gym and Baby Care Centre’. There are five forces that determine the price and what the company must follow to attain maximum profitability and these factors are the Rivalry within the Industry, and here’s where ‘Goldie’s Gym and Baby Care Centre’will find steep competition, since Scotland already has multiple Gym’s and a variety of unique ones. There are outdoor Gym’s multi faceted ones to encourage combination and unique combination of services that create separate target groups for each company. There is the threat of new entrants as we suggested just a few lines back which show that there is a threat of substitutes, for these Gym’s. With the rising amount of money being lost of fitness and the face that most people give up after a few weeks and days of participating, new fun and engaging options are entering market. Dance, Yoga and Zumba are some of the alternatives to traditional hardcore gym and other facilities. The Guardian reported in 2015 that the spending on Healthcare were up to more than 40% than 2014. This means, a more affordable option will attract people. There is also the fact that Suppliers are determining prices of services in a lot of ways. For ‘Goldie’s Gym and Baby Care Centre’the suppliers of equipments and services like trainers determine the ability of the Gym to become successful. There is the last part which defines the buying power of consumers. While we might say that the GVA of Scotland is quite high it is always seeking methods to save more (Indiatsy, 2014).

ANSOFF’S MATRIX