Healthy Fitness Band Marketing Strategy

This assignment analyzes the marketing strategy for a new 'Healthy Fitness Band'. It includes conducting market research to determine consumer demand and preferences for fitness trackers. The analysis examines the competitive landscape and identifies unique features that can differentiate the Healthy Fitness Band. Furthermore, it explores potential strategic partnerships with insurers and fitness clubs to enhance sales and customer engagement.

Running head: MARKETING PLANNING
Marketing Planning
Name of the Student:
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Author Note:

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Executive Summary
The main purpose of the assignment is to launch a new product in the Australian market by
international IT Company. The Australian market had been selected for the launching purpose as
the individuals who lives in Australia are early adopters of wearable technology. The name of the
product is Healthy Fitness band that will help consumers to take care of their health by wearing it
all the time. This fitness band will answer to range of questions related to fitness and health. This
will guide the customers to take care of their health as and when instructed.

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Table of Contents
Introduction......................................................................................................................................3
Situation Analysis............................................................................................................................4
Opportunities and issues statement..................................................................................................6
Marketing objectives.......................................................................................................................7
Marketing strategies.........................................................................................................................7
STP..............................................................................................................................................7
Marketing Mix.................................................................................................................................8
Brief budget or profitability analysis...............................................................................................9
Monitoring and control..................................................................................................................10
Summary and conclusion...............................................................................................................11
Reference List................................................................................................................................12

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Introduction
This study deals with launching of a new product, the product is wearable accessory that
looks same like wrist watch (Wright 2014). The new product will be launched in the Australian
market where the fitness band incorporates computer as well as advanced electronic technologies
that will be helpful to maintain fitness level. The Australian market had been selected for
launching purpose as it Australian consumers are early adopters of wearable technology as well
as this market is already in steady growth level. The name of the product is Healthy Fitness band
that will be targeting customers who has the inclination to look after their health and improve it
as well.

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Situation Analysis
Background related information on:
Market
Figure: Global wearable Device Unit Shipment Forecast
(Source: Weinstein and Pohlman 2015)
In Australia, Wearable tech is still finding its feet in current marketplace. There is some
clear use in major cases especially when individuals are using these watches for checking over
their health and exercise (Shankar et al. 2016). It can be even used for security purpose.
According to forecast, it is noted that number of wearable tech devices in the current market will
almost become double by the end of 2021.

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Industry
The industry that this fitness wrist watches will be operating in technology sector where
there is intense competition because of frequent changes in tastes, preferences and fashion of
consumers. In order to launch any new product, it is important to understand about the industry
that the product will be operating in and then come up with strategies to compete with the nearest
competitors (Pinto and Yagnik 2017).
Competitors
The international IT Company will be facing stiff competition from existing competitors
who are already present in the market such as Apple and Samsung. These multinational IT
companies have already launched fitness wrist watches in the market. However, the main aim of
the new product will be to meet the needs of the customers and work upon the drawbacks that
these companies could not find out. Healthy Fitness band will be competing with price with the
Chinese competitors such as Xiaomi where it becomes difficult to convince the facts that the
products retail are kept at a proper discount as compared to Healthy Fitness band products. It is
noted that competitors of Healthy Fitness band provides limited features and this is the point that
Healthy Fitness band should keep into consideration and make it an Unique Selling Proposition.
Customers
The new fitness watch will be targeting customers who are fitness freak and health
cautious. The main target will be for the employees and individuals who are sitting long hours in
front of laptops and conducting meetings. These people have no time to walk and therefore these

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people are facing lot of health related issues. This fitness band will be targeting teenagers who
are working and giving no time for health.
Opportunities and issues statement
SWOT Analysis of Healthy Fitness band
Strengths Weakness
Healthy Fitness band is established as well as
credible band
First mover benefits
The product will have strong marketing and
sales engine
Broad device portfolio
The fitness band will have large as well as
strong user community
Platform Openness
The company will get indulge into strong
partnerships
Enhanced technology and value
Large company atmosphere
Lack of Fitness or Health credibility
Limited tracking facilities
Brand awareness
Not a technology company
Complex
Semi-closed architecture
Opportunities Threats
Connected Ecosystem
Building on dietary expertise
Training or coaching advice
Simplicity maintenance becomes difficult
New Tech Start-up
Brand confusion

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Enhanced tracking or data
Big Data Analytics
Rumored Apple iWatch

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Marketing objectives
To increase awareness of the Healthy Fitness band and the brand at the same time
To make strategies to compete with the market leader of the same segment
To target new segment such as women who belong to the age groups 33 to 44 years 30 to
44 years
To customize new features on the fitness band such as camera as well as social network
direct link
To take into account more personalizing options for increasing the awareness among the
community as a whole
To add more color options for bands as well as customized options
Marketing strategies
STP
The current target segmentation of Healthy Fitness band is purely based on fitness level
that is used by casual exercisers as well as serious fitness-centered consumers. Healthy Fitness
band will be targeting in accordance to fitness level, age and gender, income and education
(Peñaloza, Toulouse and Visconti 2013).
It is found from the survey results that a potential consumer who shows interest in buying
wearable fitness tracker is those people who either play or watch sports. Consumers who show
shows interest in purchasing Healthy Fitness band are those who frequently consume organic
foods for taking care of their health. Healthy Fitness band need to compete on certain activities

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such as features that takes into account bundled benefits, product design as well as corporate
partnerships. The Unique Selling Proposition of Healthy Fitness band is providing customers
with wide range of features that the competitors lack. Healthy Fitness band will be keeping their
price lower and features their design as heart rate monitoring, integration with smart phone as
well as sleep cycle monitoring at the same time (Meffert 2013)
Marketing Mix
Product- The product that is proposed in the study is Healthy Fitness band as it is developed of
exclusive strategic partnerships with many other known health insurance companies as well as
health clubs in Australia. These contracts will help Healthy Fitness band to sign up for
participating as an insurer or health club for sharing health tracking of data. Healthy Fitness band
will help companies for developing proper technology for receiving as well as tracking
information for each of the noted beneficiary member (Kotler et al. 2016).

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Figure: Healthy Fitness Band
(Source: Armstrong et al. 2015)
Place- The place used to market or sell Healthy Fitness band will be health companies in
Australia and reputed health clubs in Australia where people will show special interest to
purchase watches that can bring improvement in their health.
Price- In order to compete in the Australian market, Healthy Fitness band will be sold at
economy pricing so that the new product can give tough competition to the already established
companies (Armstrong et al. 2015).
Promotion- Healthy Fitness band will be using wide variety of promotional tactics that will
aware the customers of these brands in the market. The promotional techniques or medium used
for awareness will be Television, radio as well as print advertisements. It will be clearly
mentioned about the partnership with the insurance companies and gyms where the business
entities are helping with these promotional campaigns. It is the insurance companies who will
advertising about Healthy Fitness band collaboration on their websites as well as mailed
brochures. In addition, the physicians as well as healthcare providers will explain the patients
about the perks as well as encourage them to use fitness tracker as it is one of the easy way to
improve health outcomes. Using these fitness bands will help patients to get wide range of
benefits. Furthermore, the gyms as well as fitness clubs will even advertise about Healthy Fitness
band at the time when any new member will join these clubs (Hollensen 2015).
Brief budget or profitability analysis
Income statement for the year 2017 to 2019

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Healthy Fitness Band
2017 2018 2019
Revenue 1256780 3245680 5565490
Cost of Revenue 110980 156450 65490
Gross Profit 1145800 3089230 5500000
Operating expenses
Research and Development 88000 56000 43000
Sales and marketing 180780 54000 4400
General and administrative 50000 45000 23000
Change in contingent
consideration
-5400 - -
Total operating expenses 313380 155000 70400
Operating income 832420 2934230 5429600
Interest expense (net) -990 -1650 -1760
Other expense (net) -50790 -7780 -5490
Income before income taxes 884200 2943660 5436850
Income tax expenses (benefits)_ 67900 -16590 -17690
Net Income 816300 2960250 5454540

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Monitoring and control
Regular monitoring will help in keeping track of progress on the new product launch. The
set objectives can be easily achieved if the research and development team comes with data on
whether there is a need for these types of fitness band among the consumers (Athanasopoulou
and Giovanis 2015). This market research results will give information about the current trends
as well as preferences about the consumers whether they need these types of watches for usage
purpose. After that, the results had shown that people are interested in using this type of watches
and however healthy fitness band will meet the needs as well as expectations of the customers.
Summary and conclusion
At the end of the study, it is concluded that healthy fitness band can easily compete with
other competitors as they will provide customers with unique features. Healthy fitness band will
be getting indulge into strategic partnerships with the insurers as well as fitness clubs where both
will have win-win situation. It will help Healthy fitness band for increasing their sales. The
insurers will be getting benefits by saving money on health costs and getting more beneficiary
sign-ups. The gym will be increased membership as well as encourages in increased use of
classes and buy the apparel where consumers has the intention to save money as well as engage
in activities that can improve their fitness and health.

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Reference List
Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015.Marketing: an introduction.
Pearson Education.
Athanasopoulou, P. and Giovanis, A.N., 2015, September. The role of social media in the
marketing strategy of fitness centres. In 8th Annual Conference of the EuroMed Academy of
Business (p. 163).
Hollensen, S., 2015. Marketing management: A relationship approach. Pearson Education.
Kotler, P., Keller, K.L., Brady, M., Goodman, M. and Hansen, T., 2016. Marketing management.
Pearson Education Ltd..
Meffert, H., 2013. Marketing-Management: Analyse—Strategie—Implementierung. Springer-
Verlag.
Peñaloza, L., Toulouse, N. and Visconti, L.M. eds., 2013.Marketing management: A cultural
perspective. Routledge.
Pinto, M.B. and Yagnik, A., 2017. Fit for life: A content analysis of fitness tracker brands use of
Facebook in social media marketing. Journal of Brand Management, 24(1), pp.49-67.
Shankar, V., Kleijnen, M., Ramanathan, S., Rizley, R., Holland, S. and Morrissey, S., 2016.
Mobile shopper marketing: Key issues, current insights, and future research avenues. Journal of
Interactive Marketing, 34, pp.37-48.