Powerhouse Gym Marketing Plan Essay - 632 Words

Powerhouse Gym Marketing Plan 3.5 Marketing Mix Strategies 3.5.1 Product Strategy Powerhouse Gym product strategy should be to attract and retain business. The main goal should be to promote a positive atmosphere and unforgettable experience that helps their clients lead a healthy lifestyle. By offering exceptional product coupled with pleasing experience to promote repeat business. By separating its experience from other gyms will give Powerhouse Gym the edge from their competitors. One of the ways to separate themselves would be product offerings such as providing state of the arts exercise equipment, professional trainers leading exercise classes, and personal training helping with nutrition advice. By offering these†¦show more content†¦Potential Products are additional amenities like basketball court, lap pool, etc. 3.5.2 Price Strategy a. PGs Pricing Objective Ââ€" Maximum market share b. Demand Ââ€"Generate enough membership to cover the $110K expenses (at least). c. Costs Ââ€" Operating Expenses of $110,000 per month d. Competition price and offerings analysis Ââ€" For month to month membership pricing, price ranges between $29.95 (LA Fitness) to $49.95 (Lifetime Fitness) with differing enrollment rates. PGs no money down rate of $39.95 is lower than all current competitors except LA Fitness. PGs $32.95 / $75 enrollment is lower than all except LA Fitness, which has higher enrollment fee of $99, and PGs $26.95 / $125 enrollment is the lowest monthly rate. For membership contract plans, PGs one year prepaid rate equates to $32.95 per month, which is lower than both Ballys ($39.95) and Curves ($39.95), and does not have the high enrollment fees associated. e. Pricing Method Ââ€" Going rate pricing f. Final Price Ââ€" Maintain price at current level since it is priced competitively with the month to month competitors and lower than the contract competitors, while having little to no enrollment fees while offering extra services free of charge, like child care and towel service. 3.5.3 Promotion Strategy a. Promotion Strategy Ââ€" Micro-marketing to penetrate target market within 5-mileShow MoreRelatedManaging Strategic Plan For A Success Of Any Small Or Big Organization1212 Words   |  5 PagesConceptualizing in Business A well thought of strategic plan not only plays a big role in a success of any small or big organization, it is also imperative for its growth. In any effective strategic plan starts with a well-considered and mission statement, vision, and value. These three categories are beneficial to its shareholders, employees, and its customers. 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