Enovation: The Catalyst

Post on 26-Jun-2015

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Marketing and Developing New Products project

Transcript of Enovation: The Catalyst

THE CATALYST ZACHARY BREAKSTONE, EARL DONALDSON,

ROSELY ANN MATEO, SHARON TAM

& XY ZIEMBA

THE CHALLENGE

People lose motivation and determination at the gym because they cannot accurately gauge or track their work out progress

THE CHALLENGE

• Gyms centers do not have an efficient tracking system

• Erroneous and dated record keeping methods

• Paper log system

THE CHALLENGE

• Fitness centers have trouble attracting and retaining members

• Endless search for new ways to compete with rival gyms

THE OPPORTUNITY The Catalyst is an innovative solution that works with personal trainers to help motivate gym members and build loyalty• Gym Driven Network

• Three Components: LCD touch screen with integrated bar code reader and website

WEBSITE Track Routine, Nutritional Intake and have

an online support system

MOBILE APPLICATION

INDUSTRY OVERVIEW

United States Gym and Exercise Equipment Manufacturing Industry

• Threat of New Entrants (Low)

• Bargaining Power of Consumers (Medium)

• Bargaining Power of Suppliers (Low)

• Threat of New Substitutes (Low)

• Competitors (Low)

CONSUMER ANALYSIS

Segment

• Chains (BSC NYSC PSC) • Good East coast network • Aim for exclusivity contract with TSI (iphone and ATT)

• (contingent on them agreeing to install catalyst in X amount of their gyms )

Target

• B-B low cost marketing • Fulfillment of bulk orders• Sustaining long relationships

Position

• Premium technologically advanced fitness tool

CUSTOMER ANALYSIS

Survey Key Insights

• 77% attend the gym• 53% satisfied with current gym routine • 68% would invest in a quality product to track routines

In Depth Interview Key Insights

• Product needs to work with the trainers• Lack of motivation is a big challenge

PERCEPTUAL MAPHIGH PRICE

LOW PRICE

PASSIVE MOTIVATIONAL

THE CATALYST

“Drives Action”

Customization

• Logo on machines

Distribution

• Sell manufactured goods directly to gym, fitness and health clubs

PRICE

PLACE

Business – to – Business sales strategy

• TSI (BSC) Local BSC Branch out to NYSC PSC

Using it as a test site, free installation to monitor how well the product does there

Boston Sports Club

• Focus on customer satisfaction + offering premium personal training services (in their mission statement)

• Local Wellesley Gym good for pilot program• Good east coast network

PROMOTION

Product that has “legs”

• Highly flexible product

Direct B-B marketing

• Email and Sales Leads

Health conference trade show promotions

• International Health Racquets, and Sports Club Association Trade Show

• Health and Fitness Business Expo

PERFORMANCE METRICS

How the Product Effects the Gyms

• Personal Trainer and Management Feedback (Satisfaction Surveys)

• Percentage Change in Member Retention and Attainment

• Frequency of equipment use

How Well we are Marketing the Product (Marketing effectiveness)

• Return on Marketing Investments • Revenue we generate over marketing activity/

marketing budget spend

Q&A

THANK YOU