The following report would outline the marketing plan of the Bounce Fitness marketing plan. For analyzing the marketing plan of the Bounce fitness, the mission, marketing objectives, marketing mix elements would be discussed in detail. Bounce Fitness was established in the year 2001 in Queensland. The company is aiming to expand in the regions of Sydney, Melbourne, Brisbane etc. The main aim of marketing is to maintain a minim level of growth and market penetration. The company is making various wellness programs that aim to improve the efficiency of the employees in the organization (Bounce Fitness, 2019).
Bounce fitness targets the market based on various market segments such as-
1. Geographic segmentation
Under the geographical segmentation, the company mainly targets the geographical regions of the Sydney, Brisbane and Melbourne and the man cities in Australia. There are approximately 15800 employees of the organization who serve these targeted areas.
2. Demographic segmentation
According to the demographic segmentation, Bounce fitness targets both men and women and it mainly targets the customers whose real income is at least to $ 38,000 which means that individuals who fall under this income slab can easily afford to buy the products of the company.
3. Behavioural segmentation
In terms of behavioural segmentation, Bounce fitness targets the customers who associate the product and service of the company as healthy and fit for the consumption and who feel the need to acquire the products/ services of the company. In addition to this, the company also targets the consumers who are undertaking physical exercises daily and who genuinely need the product of the company to stay fit and healthy for a long period of time (Bounce Fitness, 2019).
The company that is Bounce fitness is providing the services of the health care management program for the employees or the working youth so that their productivity as an employee of the organization can be enhanced. It is offering the following benefits to the customers-
1. Convenience- Bounce fitness is undertaking various strategies to make the products and the services to the targeted consumers as convenient as possible by opening up fitness centres at various locations across Australia.
2. Customization- The major benefit offered by the bounce fitness company is that it offers customization in its services according to the needs and demands of the clients.
The mission statement of the Bounce Fitness is “to serve the community with comprehensive, quality, distinctive and unique health programs and services” (Bounce Fitness, 2019).
The marketing objectives of the Bounce fitness are-
1. To enhance market penetration every month.
2. To increase the sales of the company by 10 % each year.
3. To establish the image or reputation of the Bounce Fitness as the premier and long-term health and wellness program service provider.
4. To enhance customer acquisition by 15 % by the next 2 years.
There are 4 major marketing mix elements that are described in the following section-
1. Product/service- The company Bounce fitness offers unique services of establishing customized wellness programs for the companies and their employees in order to improve the productivity of each employee in the organization. So, the main business operation of the company is to organize the wellness programs for the employees of the organization and to offer customization in their services.
2. Price- Bounce fitness adopts competitive pricing strategy in order to price their services and offer customization to the clients. For example, a client would pay $ 100 on monthly basis for availing the services of the bounce fitness whereas, in any other general fitness centre in Australia, the client is charged $ 150 on monthly basis. So, competitive pricing helps the organization to gain a large number of clients and enhance its customer base.
3. Place- In products/services of the Bounce fitness is distributed to the consumers or clients through the official worksite of the company and through the bounce fitness centres that are spread all over Australia.
4. Promotion- For promoting the products of the company, Bounce fitness adopts below the line marketing strategies that are offering discounts to the clients, and other customized discount offers. In addition to this, the company also promotes its products through the official website of the company (Grönroos, 1994).
From the above discussion, it can be analyzed that Bounce fitness is actively involved in following various kinds of marketing strategies to achieve competitive advantage in the industry of fitness and wellness. The above report summarizes the market segmentation followed by the company, the market needs identified by the Bounce fitness. In addition to this, the report also outlines the mission, marketing objectives and the marketing mix of the bounce fitness.
1. Bounce Fitness (2019). Personal Training | Best Personal Trainers - Bounce Fitness. [online] Bounce Fitness. Available at: http://bouncefitness.com/ [Accessed 19 Feb. 2019].
2. Grönroos, C. (1994). From Marketing Mix to Relationship Marketing. Management Decision, 32(2), pp.4-20.
3. Grönroos, C. (1994). From Marketing Mix to Relationship Marketing. Management Decision, 32(2), pp.4-20.