Marketing Analysis of Bounce Fitness

Introduction

Bounce fitness was founded in the year 2001 with a single aerobic studio by Margaret house. However, with the passage of time, it has grown and now have four fitness centres in the cities of Brisbane, Sydney, Perth as well as Cairns. The fitness centre provides premium services for wellness and fitness in Australia. It provides fitness training, coaching as well as other similar services that will enhance health and fitness. The company update its equipment every three years and to offer unique services. It centres provide better ambience with the presence of music, aerobic classes and other circulate classes where training is provided with technological equipment. The fitness centre selects “one-stop-shop” where the clients are provided with all the facilities at a single spot according to their needs (Bounce Fitness, 2019). In this report, we will discuss the market strategy and marketing mix of Bounce Fitness Centre. However, the company is based on two principles that are healthy employees are more productive and it is better to maintain health or prevent it from illness rather than curing or treating it after it incurs.

Market analysis

In Australia, there is growing revenue in the fitness and wellness industry and showed annualised growth of 1.8 per cent and is expected to reach $ 2.4 billion in the year 2023 from the present value of $2.2 billion (Ausleisure.com.au, 2019). It has been analysed that there are great structural changes in the gym and fitness centres over the last five years. Further, there is also a rising trend of health and fitness consciousness among the people of Australia which increases the demand for wellness centres (IBISWorld, 2019). There are also twenty-four hours’ memberships are provided to the gym comers so that they can come at any time. Further, the workout is not only popular among youngsters but now a day middle-aged people are also concerned about their health and join the gym. Further, In Australia there are also increasing problems of obesity due to more consumption of fast food and the only alternative with people is to join the gym (Ausleisure.com.au, 2019). In order to attract more customers in the market, fitness centres provide a basket of benefits to the joiners and membership cards are the major package used by the gyms. It has been analysed that gyms and fitness centre also provide employment to a large number of people and there are over 14 million people worked in gyms which includes males as well as females.

Marketing STP

The STP marketing strategy includes three elements in order to decide the target market for the products or services. The three elements in case of Bounce Fitness is given as:

Segmentation

Segmentation includes dividing the market into small parts so that the organisation can reach its target customer. In the case of Bounce Fitness, the market is divided by demographic, geographic as well as psychological segmentation.

• Demographic segmentation:

  The target market for services is the age group of 24 to 50 years which further includes professionals, students and other employed persons. Further, it also includes people with higher and average income level. The target market of the fitness centre includes both males and females.

• Geographical segmentation:

  The target market is also divided in the form of geographical area and in this, the centre has selected for major cities in Australia in the Central Business District which includes Brisbane, Perth and other two areas. Further, the centres are located in the central parts of the cities where there is a great rush of people.

• Psychological segmentation:

  Under this segmentation, the centre has targeted those people who are facing the issue of obesity and other health-related issues. Further, it also targets people who want a fit body.

Targeting:

This is the second element of the STP approach in which a particular segmentation or mixture of segments are selected in order to reach the final customers of the products or services. Bounce Fitness will select the customers in the four cities where the fitness centres of bounce are located. Further, in this geographical segmentation, only customers between the age of 24 to 50 years will be selected and they can be of any gender. Among these people, the people with average and high-income level will be selected. Thus, the final target market of Bunce Fitness will be people with high income level with age group between 24-50 lives in the four cities of Australia.

Positioning:

The given positioning map provides the view on the position of Bounce fitness in the market as a comparison to other competitors in the market. It has been analysed that Bounce fitness is in the category of high quality and high price and Centennial health club is also in the same category and thus, the major competitor of the organisation. However, the other competitors such as 98 Gym and Flow athletic provides high-quality services to the customers at lower prices.

Bounce Fitness Centre- 7P’s of marketing

Marketing mix includes seven different elements which are decided in order to form the effective marketing strategy for the products or service. The marketing mix of Bounce Fitness Centre are given as:

• Products:

  Bounce fitness provides all the services according to the needs of the customers. The major services are providing customized services in order to enhance the wellness and health among people. It used different equipment to provide different services to different clients. Without regular services, bounce fitness also provides services through open wellness programs.

• Price:

  It provides services under mix pricing strategy where some of the services are provided at comparable prices as a comparison to other fitness centres. It also charges a premium price for unique services such as exercise related to some specific health issue or the bodybuilder etc.

• Place:

  It has four major centres in Australia at Brisbane, Sydney, Perth as well as Cairns where it provides different services to the customers or clients. It also its official website where the company provides necessary guidance to the users for their health and they also can register to join the gym through website.

• Promotion:

  It continued with below line strategies under which the customers are provided with discounts to join the gym and full-year membership at discounts etc. Further, it also used promotional activities as an advertisement in journals of four cities and also by organising fitness programs in these cities.

• People:

  The fitness centre selects skilled and experienced employees who have knowledge of different gym equipment and are aware of different exercise. The fitness centre took great care of its employees and they are provided free gym services. The basic salary offered to the employees is $100 monthly. The major aim related to employees is to provide a satisfactory experience so that they can provide the same to the customers with their services.

• Physical evidence:

  Physical evidence is provided by the customers of the gym and the experience shared by them. Further, the official website of the company is also a piece of evidence for it. City magazines are the major sources of the physical evidence which aware huge population about Bounce fitness centre.

• Process:

  The process of Bounce Fitness Centre includes providing gym services, handling complaints, register new joiners and provide membership cards etc. The main agenda is to provide quality services through better processes as per the needs of the customers.

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Conclusion:

The above analysis shows that Bounce Fitness have a better market position where it provides various fitness services to the customers. It has been analysed that people of Australia are becoming more health-conscious and there is a great trend of joining the gym. Further, it also provided a view on the marketing mix and segmentation strategy of the organisation so that it could reach its target market. As this article provides insights on the bounce fitness marketing mix and strategies, the same can be done for your assignment, All you need to do is order an assignment and avail Assignment help service. We Guarantee you High grades and on-time delivery of your assignment solution.

Further Reading

• Starbucks VRIO Analysis
• Fitbit VRIO Analysis
• Amazon VRIO Analysis
• Apple VRIO Analysis

References

• Bounce Fitness. (2019). About. Retrieved 27 December 2019
• Ausleisure.com.au. (2019). Australian fitness industry revenues to grow to $2.4 billion by 2022/23 - Australasian Leisure Management. Retrieved 27 December 2019, from https://www.ausleisure.com.au/news/australian-fitness-industry-revenues-to-grow-to-2.4-billion-by-2022-23/
• IBISWorld, I. (2019). Market Research Reports & Analysis | IBISWorld AU. Retrieved 27 December 2019, from https://www.ibisworld.com.au/industry-trends/market-research-reports/arts-recreation-services/gyms-fitness-centres.html