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Sample essay topic, essay writing: Bally Total Fitness Marketing Audit - 1839 words
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Bally Total Fitness Marketing AuditBally Total Fitness is the largest, and only nationwide, commercial operator of fitness centers. Bally's has approximately four million members and 420 facilities across the United States and around the globe. (ballyfitness.com, 2004) A marketing audit was performed on the company in order to assess their total marketing program to see what was and was not working to increase business. The following will summarize key findings of environmental aspects and marketing. Finally, any recommended actions that may be considered for future planning will be discussed.
The environmental aspects that were considered for the Bally Total Fitness audit were demographics, markets and competition. Demographic trends have shown that the older segments of the United States (ages 45-65+) are growing the fastest. Bally Total Fitness would be wise to consider marketing towards this age group as their needs change. An estimated 50 million people will be members to a fitness center in just six years, the year 2010. This is due to an increased desire towards healthy living. The general population is becoming more aware of the benefits of exercise to promote health and wellness
The Markets part of the audit shows that there is three major trends that health clubs should be attentive of. These major trends are insurance paid weight-loss, a global battle against obesity and an end to low-carb confusion. Health clubs are part of the solution and should promote themselves as such. Bally Total Fitness can be a guide towards losing weight and increased education on obesity and to guide people through the low-carb confusion. 24 Hour Fitness and Gold's Gym are Bally's top two competitors. While both companies have been successful, Bally Total Fitness still boasts more members and more facilities than either one.
However, both competitors of Bally's are not too far behind. Bally's should strive hard to stay on top of the competition. This can be achieved by analyzing the competitors' strengths and weaknesses. If any similar weaknesses exist, changes can be made to improve on those to differentiate Bally's from the rest. Bally's has an excellent product. It is something that all people, no matter what their size or shape, can benefit from.
The current "Every Body Needs Something" campaign is an excellent idea to get this message across. Also, growing the Marketing Department by adding seasoned executives was a good choice. Since many of these executives are highly experienced they can all collaborate and ultimately come up with sound ideas that will help the company grow. Bally Total Fitness' objectives are reasonable and go along with their mission statement of being a Total Fitness Resource. It is important that all levels of the company are aware of the objectives and strategies that are being used to meet those objectives.
While Bally's has been doing well at this, they should never get complacent and always be attentive to what is going on with all of their staff and all of their members. Effective training and constant evaluation of staff members will insure top-notch customer service. In short, Bally Total Fitness has been faring well in the fitness industry. First quarter results of 2004 have shown that net revenue has increased from the previous year's first quarter but by only 2%. By more aggressive marketing this number can increase more by the next year.
Both a market penetration strategy and a market expansion strategy should be utilized to further this objective. These strategies will ensure that current and potential consumers will be aware of the product Bally Total Fitness has to offer. The current campaign says it best, "Every Body Needs Something" and Bally Total Fitness has just what that body needs.TABLE OF CONTENTSEnvironmental Aspects DEMOGRAPHICS p. 5 MARKET p. 5 COMPETITION p.
7Marketing OBJECTIVES p. 8 STRATEGIES p. 9 TACTICS p. 11 4PS p. 12 SALES p.
14Conclusion p. 15Works Cited p. 16Environmental AspectsDEMOGRAPHICS Of an estimated 30 million members to fitness centers in the United States, one out of five belongs to Bally's. Bally Total Fitness mainly targets the 18-49 year old range with a male to female ration of 1:1. The average household income of their members is $52,000 a year. 76% of Bally members are Internet enabled.
(ballyfitness.com, 2004) According to the International Health, Racquet and Sportsclub Association (IHRSA), there are approximately 30 million adult members of fitness centers in the United States. By the year 2010, this number is likely to grow to 50 million. This is due in large part to the increasing awareness amongst the population of the importance of exercise to promote health and wellness. This trend coupled with the major demographic shifts should produce an increased demand for fitness services and products. Although Bally Total Fitness mainly targets the 18-49 year old range, knowledge of a major trend should be brought into consideration.
The "graying of America" is a trend in the United States where the oldest segments of the population (45-65+) are growing fastest. (Churchill, Jr. and Peter 296) Since people's needs and tastes changes as they get older, Bally Total Fitness can capitalize on the Baby Boomers. More of this will be discussed in the Markets segment of the audit. MARKETS According to an IHRSA trend report, there are three major milestones that may be of major interest to health clubs. These three things are:. Insurance paid weight loss.
Global battle against obesity. End to low-carb confusion"Americans strongly support action by health insurance providers, employers and government to promote physical fitness and a healthy lifestyle, according to a January 2004 survey conducted for IHRSA by Ketchum Global Research Network." (IHRSA.com, 2004) The Workforce Health Improvement Program, or WHIP, would be a step in the right direction. If Congress passes WHIP, it would allow employers to deduct the cost of providing or subsidizing health club benefits to their workers. The study also indicates that 61% of Americans would like to see Congress do more to control obesity, as it is at an all-time high with an estimated 64% of Americans considered overweight or obese. Considering this year to be a Presidential election year, over half of the American population believes that candidates should have a position on obesity.Bally Total Fitness has already signed on with the President's Council on Physical Fitness and Sports to sponsor the Presidential Active Lifestyle Award (PALA). The 'Fitness Runs in the Family' program was created to encourage Americans to take the President's Challenge and work towards the PALA. (ballyfitness.com, 2004) By promoting towards the parents of the younger generation, it may create role models for youth.
If the younger generation sees the benefits of exercise, they may remain loyal customers for years to come and will pass this on to the next generations.Health clubs should also heavily consider the other two major milestones, the global battle against obesity and an end to low-carb confusion. Worldwide, people are increasingly aware of the obesity factor and so there will be increased international efforts to curb this problem. Health clubs are part of the solution and could promote themselves as such. As for the low-carb confusion, there are so many food companies that are jumping on the low-carb bandwagon. Health clubs could provide guidelines or "helpful hints" to help members with the confusion of the entire different low-carb lingo that appears on different packaging.
(IHRSA.com, 2004)COMPETITIONBally Total Fitness's top two competitors are 24 Hour Fitness and Gold's Gym. 24 Hour Fitness started as a one-club operation in 1983. Today, it has more than 2.7 million members and 300 gyms worldwide. 24 Hour Fitness is the largest privately owned and operated fitness center chain in the United States and world. (24hourfitness.com, 2004) Gold's Gym was founded in 1965 in Venice, California and was deemed "the Mecca of Bodybuilding". Today, Gold's Gym still maintains its core weight lifting tradition but has expanded its profile by adding services such as group exercise, personal training and cardiovascular equipment.
Gold's Gym boasts 2.5 million members worldwide and is the largest co-ed gym chain in the world with over 550 facilities in 43 states and 25 countries. (goldsgym.com,2004)24 Hour Fitness offers their services and facilities 24 hours a day, seven days a week. Centers are located in 16 states in the US as well as in Asia and Europe. 24 recently announced their sponsorship of the 2004 U.S. Olympic Team and are also participating in a program called Get Active America!, similar to the program Bally undertook with the President's Council and the PALA.
24 Hour Fitness' latest advertisements have pushed the Xpress Zone, series of exercises designed in a specific order to maximize a full-body workout in a short amount of time. This was brought about due to Americans being at their most obese, but also their busiest. (24hourfitness.com, 2004)Gold's Gym is famous for originating at the site of America's most famous muscle beach and being featured in the movie "Pumping Iron" starring Arnold Schwarzenegger and Lou Ferrigno. Gold's Gym is currently in rapid growth phase, and are pushing for expanding their current portfolio by buying smaller regional health clubs and converting them to Gold's Gym. The company also licenses the Gold's Gym name for products such as fitness equipment and accessories, sports luggage, t-shirts, and men's and women's sportswear.
Gold's Gym boasts instant brand awareness, 39 years of achievement and recognition in the fitness industry and award winning local & national marketing and advertising programs. The company was recently named in Entrepreneur Magazine's "Franchise 500", which ranks the top franchising companies in the world. (goldsgym.com, 2004)Both 24 Hour Fitness and Gold's Gym are certainly qualified top competitors. However, according to www.epinions.com, a website that offers pros and cons of certain establishments, 24 Hour Fitness has a problem with overcrowding as well as high membership prices. Also some have complained that 24 Hour Fitness is a "meat market" which makes it uncomfortable to work out in.
The same site states that members of Gold's Gym dislike that the gym is more targeted to people already in shape and accustomed to using a gym facility. Due to this, some members feel it is an intimidating atmosphere. Bally Total Fitness should look into concerns such as these and make any changes if members are making similar complaints about their gym.MarketingOBJECTIVESBally Total Fitness mission statement is as follows: To be your Total Fitness Resource by providing quality service, outstanding facilities and effective nutrition products to help you achieve quick and long term results your way. Only Bally Total Fitness combines: . Dynamic Personal TrainingSM .
Rapid Results(R) Diet System . Our new Weight Management Program to create a fitness program specifically for you Bally is the best fitness value available anywhere.Let us help you choose the fitness membership program that is right for you. (ballyfitness.com, 2004)According to a press release, Bally's objectives are continuing the momentum in new membership sales, generating free cash flow, increasing products and service revenue and becoming a superior customer service company. Bally's would also like to focus greater attention on controlling costs."Corporate objectives are established for many areas, but the most visible tend to be financial objectives" (Bearden, Ingram, and LaForge 58). One of Bally's biggest concerns is membership sales.
Bally's would like to turn-around the downward sales trends over the past few yea ...
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