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For this particular discussion, I have chosen 24 Hour Fitness Worldwide Inc. as the main competitor of Grober Fitness Company. The reason as to why I consider 24 Hour Fitness to be the company’s leading competitor is because; first both companies deal in the production and distribution of the same products and services such as fitness supplements and gym equipment. Secondly both Companies have a well-established brand in the fitness industry they therefore share the same target market.
The Company has a lot of strengths which include; killed workforce, barriers of market entry, monetary assistance provided, reduced labor costs, high profitability and revenue, domestic market. It main weakness is that the Company has a lot of loans. The Company is considered to be one of the largest privately owned and operated fitness centers in the entire world. Currently, 24 Hour Fitness has over 400 clubs and 18000 employees working in USA and other countries such as Philippines. The business enterprise strives to continually keep abreast with consumer trends, taste and preferences. In so doing, most if not all of its target markets needs and wants are satisfied. Through B 2B sales 24 Hour Fitness is assured of continuing to be a force to reckon with in the Fitness industry. This paper will focus on describing focus on the description of the services and products offered by the organization, its marketing strategies, and analytic metrics to evaluate the set strategies.
Description of the products or services
Being a large business enterprise, 24 Hour Fitness provides its consumers with several commodities and services to choose from. First, the Company deals in the large scale production and distribution of supplements used in body fitness. Secondly, the Company provides its consumers with 24 hour round the clock gym services in all its outlets. 24 Hour Fitness has four club levels; active, sports, super sport and ultra-sport. The amenities and facilities offered vary from one location to another. The Company also has other enhanced program options such as family memberships that give their consumers a reason to always come back. In addition, the company also delivers gym equipment to other retail stores all across the country.
Aspects of the Company that categorizes it as Business 2 Business
The reason why I consider 24 Hour Fitness to be B 2 B Company is because the Company supplies its products and services to other firms and businesses. Being a leading manufacturer of Fitness supplements, 24 Hour Fitness produces the commodity in large amounts. In so doing, the Company always has surplus products. Other businesses therefore source their products from the Company. Secondly, upcoming businesses may also source information and products from the Company website. The Company also has skilled manpower, experts on matters pertaining to body fitness and dieting. It may therefore send some of its qualified employees on expeditions to render the Company’s services to its unlimited target market. All these services and products offered by 24 Hour Fitness warrant it to be classified as a B 2 B Company.
Marketing strategies for the products and services
There exist several selling methods that 24 Hour Fitness employ in order for it to maximize its sales. First, the Company carries out trade fairs and exhibitions from time to time. Through this fairs, consumers and Companies get to understand more about 24 Hour Fitness. They are also able to purchase the company’s products on display.
The other selling strategy employed is personal selling or person to person selling. Here the Company uses its qualified, professional personnel to visit households of its target market with some of the portable products the Company offers. Consumers are therefore informed about the company by word of mouth.
The Company also employs the use of digital platforms to reach masses of people at the same time. The Company contains a well-established fully functional website where it sells its products and services. There is a section of the Company’s website where consumers can raise their views and issues of concern. 24 Hour Fitness always strives to ensure that all consumer queries are addressed promptly. It also uses social media platforms such as Facebook, Instagram and Twitter to advertise its commodities. The Company also has loyalty programs and promotions through which consumers can get commodities at a discount (Ferguson & Ambrose Video Publishing, 2011).
Strategies to be emulated
There are a lot of things that companies can learn and emulate from 24 Hour Fitness Inc. First, there is the importance of maintaining close contact with its consumers. Through shows, exhibitions and personal selling, the Company is able to directly interact with its consumers. In so doing, the Company is able to foster long term relationships. Secondly, through the loyalty programs the Company accords its target market, customer loyalty is created. This is basically because consumers are given a reason to come back again.
Another very crucial strategy employed by 24 Hour Fitness is that of top notch customer service. The Company is known to accord its consumers with extremely exemplary customer services. The Company realizes that its consumers are its greatest asset it therefore strives to maintain them at all costs (Sanborn, Hyken, Ziglar, Blackstone Audio, Inc, & Made for Success (Firm), 2011).
Updates Grober Fitness ought to make
In order to outmatch the high competition that 24 Hour Fitness brings about, there are several strategies that Grober Fitness has to employ. First, the Company needs to employ product differentiation strategy. Here, the company should strive to manufacture very unique top notch products that stand out from that of its consumers. In so doing an even larger pool of consumers will be attracted.
Secondly, there is product diversification. The Company should also strive to avail its target market with even more products to choose from. In so doing most if not all of their needs and wants will be satisfied. Thirdly, the company needs to invest in transformational, innovative and inventive leaders. These leaders will be required to lead from the top. They are expected to come up with new income generating ideas that are unique. These ideas will enable the Company to achieve even a higher profit margin (Causey, 2009).
It goes without saying that competition is bound to be high in any lucrative industry or market segment. Business therefore have to employ certain strategies in order to have an upper hand over their competitors. Grober Fitness needs to employ strategies such as product differentiation, top notch customer services and product diversification in order for them to continue being among the leading fitness companies in the entire world.
Causey, J. (2009). Competition. Project Gutenberg.
Ferguson, N., & Ambrose Video Publishing. (2011). Competition. New York, NY: Ambrose Video Publishing.
Sanborn, M., Hyken, S., Ziglar, Z., Blackstone Audio, Inc, & Made for Success (Firm). (2011). Ultimate customer service: Customer service essentials for loyal customers. Ashland, Or.: Blackstone Audio, Inc.
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