Get Fit is a new concept in bringing online fitness classes to residential facilities by offering fitness programs on demand. As apartment communities compete to offer the newest and latest amenities, new technology is available in order to bring fitness programs into clubhouses and recreation centers, senior centers, retirement homes with a steaming on demand classes to cater to the fitness needs of residents and customers. Get Fit With Get Fit, customers are able to offer over 600 fitness classes in a variety of all types of fitness.
Exercises ranging from yoga, step-aerobics, spinning, strength training, aerobic conditioning, kickboxing, and senior classes are available to be broadcast in your own home, recreation center or exercise room. An apartment community that may typically offer an aerobics class twice a week with a live instructor at a specific time, now has the opportunity to provide its customers with an on demand product that will allow the user to choose the exercise class, the time, and in a location that is convenient and more private than a busy gym.
Grand Strategy The company will begin by focusing its business on the apartment industry, specifically new development buildings that will have many amenities in order to be competitive in the new development market. The second stages of growth will come from attracting older apartment communities that are looking to upgrade the amenities at their communities. Attendance at apartment association trade shows and events to effectively market and sell the concept will be strong in the startup of the business.
Get Fit will be providing a new innovative product in a growing market. The number of people renting apartments, or living in senior living facilities is consistently on the rise. Renters in the apartment housing market have grown from 31% in 2005 to 34% in 2013, which equates to approximately 43 million renters. In addition, the baby boomer generation has increased the number of those 65 years or older, that have moved to adult living facilities (Joint Center for Housing Studies of Harvard University, 2013).
Market Development Market Development is a grand strategy of marketing products, often with only cosmetic alterations, to customers in associated marketing areas by adding networks of delivery or by changing the content of publicity or promotion (Pearce & Robinson, 2015). Get Fit will initially tap the apartment business market and the company will look to branch out into other markets, such as inhome sales, recreational centers, schools, and senior living facilities.
The International Health, Racket, and Sports Club Association conducted a survey with results showing over 30,500 gyms in the United States. In addition, gym memberships have increased from 41. 3 million in 2005 to 50. 2 million in 2012 (Fagan, 2014). Living a healthy lifestyle has become increasingly important to people in today’s society. Get Fit will be able to provide a convenient and easily accessible way for people to choose the exercise of their choice at the time that is suitable to them.
Instead of going to a packed gym, or exercise classes at a specific time, consumers can exercise on their schedule and with more privacy in a small group or individually. Product Development and Innovation Product Development is a grand strategy that involves the considerable alteration of existing products or the creation of new but related products that can be marketed to current customers through recognized channels (Pearce & Robinson, 2015).
Get Fit is a new product in the fitness industry that offers a variety of fitness classes that can be accessed on an ondemand platform for the convenience of the customers. Innovation is a grand strategy that seeks to earn the superior margins associated with creation and customer approval of a new product or service. Innovation is the initial introduction of an invention by creating and selling a new product, service, or process (Pearce & Robinson, 2015).
The Get Fit product is new product that allows for convenience and variety and lower costs due to the technology. Horizontal and Vertical Acquisition Horizontal Acquisition is a grand strategy based on growth through the acquisition of one or more similar firms operating at the same phase of the production-marketing chain (Pearce & Robinson, 2015). There is one company in the market that offers a similar product. Get Fit will attempt to differentiate itself by offering the product at a lower cost, and more options at purchase.
Get Fit may eventually look at buying out the competitor to have a stronger hold on the market. Vertical Acquisition is a grand strategy based on the acquisition of firms that source the obtaining firm with contributions such as raw materials or new customers for its outputs. An example would be warehouses for furnished products (Pearce & Robinson, 2015). Get Fit will need to purchase a warehouse to store production equipment that is purchased at a bulk discount. These items will include projection screens, monitors, various accessories, and the computer.
