Enovation: The Catalyst

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THE CATALYST ZACHARY BREAKSTONE, EARL DONALDSON, ROSELY ANN MATEO, SHARON TAM & XY ZIEMBA

description

Marketing and Developing New Products project

Transcript of Enovation: The Catalyst

Page 1: Enovation: The Catalyst

THE CATALYST ZACHARY BREAKSTONE, EARL DONALDSON,

ROSELY ANN MATEO, SHARON TAM

& XY ZIEMBA

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THE CHALLENGE

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

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THE CHALLENGE

• Gyms centers do not have an efficient tracking system

• Erroneous and dated record keeping methods

• Paper log system

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THE CHALLENGE

• Fitness centers have trouble attracting and retaining members

• Endless search for new ways to compete with rival gyms

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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

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WEBSITE Track Routine, Nutritional Intake and have

an online support system

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MOBILE APPLICATION

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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)

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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

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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

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PERCEPTUAL MAPHIGH PRICE

LOW PRICE

PASSIVE MOTIVATIONAL

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THE CATALYST

“Drives Action”

Customization

• Logo on machines

Distribution

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

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PRICE

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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

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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

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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

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Q&A

THANK YOU