Bounce Fitness: Report on Marketing Mix and Strategies

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Added on  2022/08/11

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This report provides a comprehensive analysis of Bounce Fitness's marketing mix, evaluating its strategies across product, place, price, and promotion. The report begins with an introduction to Bounce Fitness, a major fitness center with locations across Australia. It then delves into the establishment of the marketing mix, focusing on customer service, distribution of services, pricing, additional product offerings, and promotional activities. The report highlights the importance of customer satisfaction, distribution networks, pricing strategies, and promotional techniques, offering recommendations for business expansion, social media integration, and competitive pricing. The analysis covers aspects such as the level of customer services, distribution of services across various locations, pricing strategies for services, additional products and services like fitness instruments and supplements, and promotional methods including advertisements in various media and online platforms. The report concludes with recommendations to expand business globally, integrate social media platforms, and implement cost leadership and differentiation strategies. The report also includes references to relevant academic sources supporting the marketing mix strategies employed by Bounce Fitness.
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Running head: REPORT ON MARKETING MIX
Report on marketing mix
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REPORT ON MARKETING MIX
Table of Contents
1. Introduction............................................................................................................................3
2. Establishment of marketing mix at Bounce Fitness centre....................................................3
2.1 Level of customer services to be provided (Product or service)......................................3
2.2 Distribution of services (Place)........................................................................................4
2.3 Pricing of services to the employer (Price)......................................................................4
2.4 Additional products and services to be offered................................................................5
2.5 Promotion of services (Promotions).................................................................................5
3. Conclusion..............................................................................................................................5
Recommendations..................................................................................................................6
References..................................................................................................................................6
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REPORT ON MARKETING MIX
Task 1 report
1. Introduction
Bounce Fitness is major fitness centre that consists of fitness centres or gyms present
in all over Australia such as in Brisbane, Sydney and Melbourne. A permanent team of
fitness instructors and physicians are present, which ensures delivery of good quality fitness
services as well as associated gym based products required to keep people healthy and
possess a good physical appearance too. The purpose of the report is to highlight the
importance of marketing the brand through achievement of excellence in terms of services
delivered along with the becoming an expert fitness centre in Australia (Huang & Sarigöllü,
2014). The marketing mix strategy will also be established for the report so as to deliver the
right services considering the product or service features, prices set, places of distribution and
promotions done.
2. Establishment of marketing mix at Bounce Fitness centre
The vision of the organisation is to expand its roles and responsibilities as just a
service provider to wellness as well as empower the employee driven culture along with the
management of resources required to facilitate the achievement of business goals and
objectives. The company stayed true to its values and beliefs, which ensured management of
teamwork, integrity, accountability and quality (Fan et al., 2015). Thus, the establishment of
marketing mix could be helpful for emphasizing on the features of the product or service, set
proper prices for the products, distribute those in the market and finally ensure promoting
those properly.
2.1 Level of customer services to be provided (Product or service)
Bounce Fitness, being a gymnasium or fitness centre, the product or service represent
the various fitness services at various locations all over Australia. Thus, the customer service
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REPORT ON MARKETING MIX
feature is a major aspect of the product component in the marketing mix. The establishment
of marketing mix represent the fact that the principle has been followed to remain focused on
the achievement of highest level of customer satisfaction. This has though been possible with
the help of continuous services delivered to the customers based on their health and physical
requirements while the customers’ service departments also made sure to provide solutions to
their queries and respond to their feedbacks. This would definitely resolve any queries made
by them and also the solutions delivered to them should improve the customers’ services
efficiency largely (Londhe, 2014). For example, if a customer wants to know about a service
or make purchase and then facing problems with the product or service, then the client could
call the customer services department of Bounce Fitness, Australia and get answer to their
queries.
2.2 Distribution of services (Place)
All the services made available by the fitness centre, i.e., Bounce Fitness have been
distributed all over Australia, especially, in New South Wales, Melbourne and in Brisbane as
well. The distribution network is quite good and thus the services are not only distributed at
the company’s worksite, but also has been present in multiple fitness centres owned and
managed by Bounce Fitness in Australia (Khan, 2014). For example, not only the services
could be availed at the fitness facility, but also the management of website by the company
could be helpful for people to book the service online that they want to avail.
2.3 Pricing of services to the employer (Price)
The prices have been set and is on the higher side a bit for Bounce Fitness. The prices
have often been compared to the higher prices of services of some other premium health and
fitness facility. For example, the clients could pay an initial amount of $100 for dong workout
at the facility every month. On the other hand, from the employer’s perspective, $150 must be
paid on an annual basis so as to keep the fitness facility functional and allow the employees
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REPORT ON MARKETING MIX
to choose the most suitable wellness program or service that they want to avail (Hanssens et
al., 2014).
2.4 Additional products and services to be offered
The fitness instruments and gym products could be additional products and also
protein supplements, which could allow customers to avail the products other than the
services purchased. This would boost the revenue generation largely. The inclusion of these
additional products and services would promote positive brand image, equity as well as raise
awareness about the brand (Huang & Sarigöllü, 2014).
2.5 Promotion of services (Promotions)
The promotions of the company could be done with the help of advertisements on
newspapers, televisions, radio and on magazines while also materialistic presentation would
be possible through placards, posters and banners. The advertising on journals and articles
should boost the market efficiency while the management of an website could bring in more
customers too (Fan et al., 2015). For example, the development of an ecommerce platform or
online website would create convenience for the customers to make purchases of services or
book those online quite easily.
3. Conclusion
The report demonstrated about the establishment of marketing mix for Bounce Fitness
to ensure that the services are provided properly, prices were set so as to meet the
expectations of customers, maintain an extensive and strong distribution network and market
those products with the help of promotions and advertisements. This could allow the
company to extend its outreach to different market segments and at the same time, facilitate
the business functioning and overall performance to achieve the business goals and objectives
perfectly.
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REPORT ON MARKETING MIX
Recommendations
It is recommended to expand business globally for higher revenue generation
The social media platforms must be integrated in the market tactics so as to raise
awareness among people and draw in more clients
The cost leadership strategy is recommended to set the right prices by comparing with
its competitors
The differentiation of services should also be beneficial for creating uniqueness and
influence consumers’ buying behaviours
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References
Fan, S., Lau, R. Y., & Zhao, J. L. (2015). Demystifying big data analytics for business
intelligence through the lens of marketing mix. Big Data Research, 2(1), 28-32.
Hanssens, D. M., Pauwels, K. H., Srinivasan, S., Vanhuele, M., & Yildirim, G. (2014).
Consumer attitude metrics for guiding marketing mix decisions. Marketing
Science, 33(4), 534-550.
Huang, R., & Sarigöllü, E. (2014). How brand awareness relates to market outcome, brand
equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp.
113-132). Springer, New York, NY.
Khan, M. T. (2014). The concept of'marketing mix'and its elements (a conceptual review
paper). International journal of information, business and management, 6(2), 95.
Londhe, B. R. (2014). Marketing mix for next generation marketing. Procedia Economics
and Finance, 11(1964), 335-40.
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