The Health and Wellbeing Industry
The Health and Wellbeing Industry
FitLife is a Privately Owned Sydney Based Australian Health Club – Marketing Assignment
FitLife is a privately owned Sydney based Australian health club chain with 70 health clubs and 182,000 active members in Australia. FitLife serves as one of the industry leaders in the sport and fitness segment providing multi-purpose fitness venues across the country providing state of the art health clubs to swimming pools, sports clubs, squash courts, and many other facilities. The health and wellbeing industry is a dynamic sector and plays a critical role in the Australian economy.
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The industry has grown substantially within the last decade, generating $2.2billion revenue on an annual basis (with 3.5% annual growth rate) through 3265 health clubs housing 32,875 employment opportunities across the country. The Health and Wellbeing Industry The industry also plays a key role in improving the health and fitness of Australians. An evaluation of the company’s internal strengths and weaknesses, external opportunities and threats, market trend analysis, and macroenvironment study established a groundwork to prepare this strategic analysis and marketing plan. The main motivation is to mine and develop new market opportunities targeted to specific customer niches.The North Sydney branch located in the Sydney Central region has the highest potential to research and develop new market opportunities due to having the highest lead generation potential. Therefore, the Executive Management has decided to research and develop new market opportunities for the North Sydney branch. The breakeven point for the North Sydney branch is 2739 members based on last year’s lead generated, 9129 members in total. Due to its healthy outlook, the Executive Management has allocated a total of $1,061,059 budget to research and implement new market opportunities, where the budget includes the costs for research and
development, distribution, promotion, training, equipment, labour, and any other operational costs to develop and implement opportunities for new markets.View less » The Health and Wellbeing Industry
