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Table of Contents
1. Executive Summary...................................................................................................................3
2. Strategic Focus and Plan ..........................................................................................................4
a. Mission Statement............................................................................................................4
b. Corporate Goals…...……...….......…...………........…..…….………...……………....4
c. Core Competency and Sustainable Competitive Advantage……………………………4
3. Situation Analysis……………………………………………………………………………..5
a. SWOT Table………………………………………………………………………………………5
b. Analysis of:……………………………………………………………………………………….6
i. Industry…………………………………………………………………………………..6
ii. Competitors……………………………………………………………………………..6
iii. Company………………………………………………………………………………..7
iv. Customer………………………………………………………………………………..7
4. Marketing and Product Objectives…………………………………………………………..8
a. Objectives…………………………………………………………………………………………8
b. Target Market……………………………………………………………………………………8
c. Points of Difference……………………………………………………………………………..9
d. Positioning………………………………………………………………………………………..9
5. Marketing Program…………………………………………………………………………...9
a. Product Strategy………………………………………………………………………9
i. Detailed Description of Product Components………………………………………9
ii. Branding……………………………………………………………………………….12
b. Pricing Strategy……………………………………………………………………...13
i. Pricing Factors Considered………………………………………………………….13
ii. Pricing Objective……………………………………………………………………..14
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iii. Any Special Adjustments…………………………………………………………….14
iv. Quarterly Target Revenue Projections for the first 12 Months………………...15
c. Distribution (Place) Strategy………………………………………………………...15
i. Identify the Channels and the Factors Used to Choose a Marketing Channel..15
ii. Specific Location and Rationale…………………………………………………….16
d. Promotional Strategy………………………………………………………………...17
i. Website………………………………………………………………………………….17
ii. Promotion……………………………………………………………………………...18
6. Budget………………………………………………………………………………………...19
a. Year 1 Sales Projection………………………………………………………………………..19
b. Promotional Budget……………………………………………………………………………20
7. Evaluation and Control……………………………………………………………………...20
Summary of Work……………………………………………………………………………...21
Bibliography…………………………………………………………………………………….22
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1. Executive Summary
With fitness already such a large industry, and with the mobile industry also taking off, wouldn’t
it be nice to combine the both? That is exactly what GymTech has done. Launching soon in
metropolitan Vancouver, this revolutionary new app will allow gym users an entirely new
experience. GymTech, also the name of the app, connects smartphones and tablets directly to
modern gym equipment through their data ports. This means real-time feedback on things like
calories burned, heart rate, and distance run. Targeting 25-35 year olds that are health conscious
and already gym users, this app will also contain a social media aspect, as well as a competitive
incentive to those who are willing to take on that extra challenge. With millions of people living
in Vancouver, this is just the beginning. Because of the versatility of an app, and the minimal
upfront and recurring costs, GymTech expects profitability even with modest sale figures. The
primary source of promotion will be through gyms that feature GymTech. More so, instead of
paying fees for promotion at gyms, GymTech will trade relevant statistical information gathered
by its users, creating a win-win situation. GymTech will also feature promotional events such as
The BOX event to drive the number of base users up. Eventually, GymTech strives to be the
number one indoor gym app in North America, and later, the world.
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2. Strategic Focus and Plan
a. Mission Statement
Everyone wants to be fit and GymTech provides people with the motivation to get in shape and
stay that way. Through using the latest in app technology, we are able to track all aspects of a
person’s physical activity, from calories burned, to average heartbeat. By being able to see one’s
personal progress and having the ability to compare it to others, the app provides the push that
many need to reach their top potential. This is more than just an app, it is a lifestyle.
b. Corporate Goals
GymTech’s goal is to sell 100 apps the first month in business and to increase sales by 35% per
month for the first year. Expenses will be kept to a minimum once the app is developed, because
there will be very few employees needed to run the company and all work can be done without a
storefront. GymTech achieves to make working out a fun activity. By using social media as part
of the app, its goal is to keep people motivated and on track with their fitness plans. After
focusing the app on the downtown area of Vancouver, the company will pursue a wider area of
greater Vancouver, and hopefully one day reach everywhere in the world.
.
c. Core Competency and Sustainable Competitive Advantage
There are many aspects that allow this app to stand out from other fitness apps. One thing that
sets this app apart from the others, is that by hooking up one’s phone to the exercise equipment,
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it can be used at a gym, home, or anywhere else equipment can be found. The app automatically
saves all information, such as time, average speed, peak performance, and heart rate. The app
also helps gyms, because gyms may see any user’s data in exchange for promoting the app. By
knowing this information, gyms can better cater to their customers’ needs and help them gain
more profit in the long run. One of the biggest advantages of GymTech is that the information
collected on the app can be uploaded to social media websites such as Facebook. Users have the
option of comparing their progress with their friends, or any user of the app. There is also the
option to keep everything completely private if one wishes. The more one exercises, the more
points they will receive, allowing them to go up in levels. All fitness data and levels can be
shared with other users to help motivate.
3. Situation Analysis
a. SWOT Table
-
[S]
Unique product
No storage fee
No variable cost
Intangible product
High profit margin
-
[W]
Weak financial position
Only three employees
High in development cost
Low brand recognition
[O]
Growing industry
Health and fitness is being
recognized
Better technology
Branding
-
[T]
Competitors
Easy to copy
Outdoor activities
Low entrance barriers
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b. Analysis of:
i. Industry
Mobile applications (apps) have been developed since the late
nineties and the apps stores have been available for quite a long
time; however, in the five years since Apple launched the iPhone,
the mobile-app market has experienced phenomenal growth.
Apple’s success inspired numerous other market entrants, creating
a broad and diverse array of devices and platforms as well as
distribution and payment methods. The number of smartphones in
use worldwide is now 1 billion, and there were 6 billion mobile subscriptions at the end of 2011
(“Global mobile statistics 2012 Part D: Consumer Mobile Behavior”, 2012). The market for
health and fitness apps is very positive. According to Research2guidance, consumers currently
have around 97,000 mobile health apps to choose from in 62 app stores. The forecast of the
health and fitness app market is expected to total $26 billion in four years with 1.7 billion users
(Jahns, 2013).
ii. Competitors
Numerous health and fitness applications already exist in the market including medical and
nutritional ones; however, GymTech is specifically designed to gym users. The most relevant
existing applications are the top ten best fitness apps: Fitness Trainer, Instant Heart Rate,
RunKeeper, Pocket Yoga, and Nike’s Running and Training Club. These top ten health apps
generate up to four million free, and 300,000 paid, downloads each day (Gullo, 2011).
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RunKeeper is one of the strongest fitness smartphone apps that offers a
personal trainer. RunKeeper motivates users with a health graph. The app
allows the user to track his/hers walks, runs, bike rides, and hikes by using
the GPS in their phone. It keeps stats on each activity, compares those stats, sets short-term and
long-term goals, and offers customizable training plans based on them (Empson, 2013).
Since corporations have increased investments in the fitness and technology industry, some other
indirect potential competitors exist; Nike offers several different applications with wearable
technology, such as FuelBand, to meet consumers’ wants (Dolan, 2011).
iii. Company
GymTech is a new company with an innovative product. Because of the company’s nature,
GymTech is a small company with two partners. One is the visionary for the product. He is a
fitness fanatic who already knows quite a lot about app development and website maintenance.
The other partner works on all marketing aspects. The two of them hired an app-developer to
create their idea.
iv. Customer
Metro Vancouver has a population of 2,313,328 (“Census 2012: B.C. Cities Burnaby, Richmond,
Surrey Outpacing Vancouver Growth”, 2012). GymTech, as a start-up business with a limited
marketing budget, has a specific target market, which are those between the ages of 25 to 35 who
live in Metro Vancouver. At the early stages of the business, the company will specifically target
this age range within downtown Vancouver to raise the brand recognition. They are a
progressive mix of well-educated singles, recent grads, and business professionals. They tend to
live in apartments and use public transportation. Their spending power appears greater because
many are childless households. They spend freely on entertainment, designer clothes, and
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cultural events. This age group in downtown has a high interest in health clubs, and other
entertainment. Their average income is $42,289. These young Canadians in downtown
Vancouver are the most dedicated to community involvement, especially to do with social and
environmental issues (“Downtown Vancouver Lifestyle & Demographics - Block Talk”, 2013).
4. Marketing and Project Objectives
a. Objectives
GymTech will take full advantage of its unique product attributes and generate full revenue in
the health and fitness market. The target objective is to cooperate with other fitness centers so
that all members of the fitness center will have this application. The market will then grow to all
members of fitness centers and even people that work out outside of fitness center will use this
application.
The objective of this product is to motivate and inspire more users to use fitness centers and stay
in good health. By using this app as a constant routine, it will help users reach their goals. Our
goal with GymTech is to sell 100 apps the first month in business and to increase sales by 35%
per month for the first year.
b. Target Markets
The primary target market is households in the downtown Vancouver region and also consumers
that work in the downtown area. These individuals’ ages will be from 25-35, with an income
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anywhere between $42,000 – $89,000 that own a smartphone. The consumer has a general
interest in keeping fit and a positive attitude towards good health. Also, our product targets those
who are regular users of fitness centers and at-home fitness equipment.
c. Points of Difference
GymTech is unique from competitors in three distinct factors. First, the product is able to
connect with workout equipment to record data, which can help create graphs and trends to keep
track of progress. The product can also connect online so consumers using this app can compete
with family and friends. Lastly, the product is able to explain how the workout equipment is used
and set an appropriate workout method according to one’s age and weight.
d. Positioning
GymTech’s positioning is based on its unique feature to connect
with workout equipment. This product will obtain a position in the
consumer’s mind as a user friendly application that can record
one’s workout data by simply plugging the device in. The goal is
for the customers to use this fairly priced app as a part of their
fitness routine. When consumers enter the gym and see the fitness machines, GymTech will
come to mind. The product provides recordings of workout records; GymTech wants their
product to come to mind when gym users want to know their progress and results.
5. Marketing Program
a. Product Strategy
i. Detailed Description of Product Components
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GymTech is a new fitness app with a twist. While this app contains features that many others do,
it puts them all together, and furthermore, has an unheard of new feature: links up with exercise
equipment in gyms. So how does this work? First, one must download the app from either the
Google Play Store for Android products, or from the App Market for IOS products. That person
will then take their mobile device to a local gym with him/her, and plug it in via USB to a
compatible exercise machine. The app is able to inform the user how that specific equipment
piece is used. After that, run the app and simply start exercising. The app will record and graph
the following data:
* Distance travelled on treadmills and ellipticals
* Distance cycled on cycling machines
* Number of floors/stairs climbed
* Distance rowed on rower
* Heart rate
* Estimated calories burned
*Max/average speed
*Peak performance
All of this data will be viewable live, as well as saved in chart/graph form and can be used in one
or all of the following manners:
1. Saved as a PDF onto your mobile device
2. Shared with your friends on a social media platform
3. Submitted to the Topguns program
1: If saved as a PDF, this file can be transferred to any device that can read PDF documents. This
includes computers of most operating systems, smartphones, and tablets. All of the relevant
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information will be charted and graphed, and the user can choose to manually edit the ranges and
what information is shown as well.
2: If shared via social media (ie. Facebook), statistics for the specified
period will be uploaded to the site. For example, if one ran 8km, rowed
2km, biked 15km, and burned 2000 calories in one week, that person
could choose to upload those stats for the entire week, or for any given
period of time. Displaying this information is entirely optional and
serves only as a feature.
3: If the data is submitted to the Topguns program, that individual is submitting his or her
information to a competitive cloud of statistics set by other members. What this means is those
individuals, whom are inclined to compete, will have the option to place all of their scores onto a
leaderboard. This interactive leaderboard will have many subcategories that allow the user to
choose filters, such as a regional filter to narrow down location, as well as the ability to choose
which machine was used on what setting. Also accompanied by this feature, are “levels and
achievements” that users can accumulate by simply exercising! An
example of an achievement is: “run 200km in 2 months on a
treadmill,” or “cycle faster than 50km/h for two minutes on a cycling
machine.” All of these scores and rewards can be posted to social
media platforms if the user chooses to.
These unique interactive features allow the user to explore indoor exercise in a whole new way
while offering the opportunity for healthy competition and motivational bragging rights. This
product is an intangible service, it is inseparable (meaning the delivery of the product is
consistent with all users), it is consistent due to the lack of variable components of distributing
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virtual material, and it has an unlimited inventory. These factors contribute to making this a very
low-cost, high margin product.
To the average consumer in the target demographic, this product will appear at first glance
indifferent from its competitors. This person may or may not be searching in particular for this
product, but will be easily swayed to download it upon understanding the concept. This person
will also develop brand loyalty to this product, given he or she approves of it. This approval will
also perpetuate the word-of-mouth promotional strategy.
ii. Branding
GymTech is a start-up company in a niche environment. Since it is difficult to prevent other
developers from copying GymTech, strong brand loyalty must be established. Due to the nature
of competition in the app market, brand loyalty must be established as quickly and efficiently as
possible. GymTech needs to be known as the number one app for indoor recreational exercise.
One of the things that will really set GymTech apart as a brand is its features. The name
GymTech was chosen as a link between the company and its features. The brand of GymTech
will become a household name through repetition and positive public reputation.
Repetition refers to the number of times audiences are exposed to the name through promotion
and word-of-mouth. Such exposure will be done through gym-based promotions, which will be
exchanged in turn for free statistical information collected from the app users. The more
exposure GymTech gets, the more people will remember it.
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Positive public reputation is a key factor in people’s perception of GymTech. For GymTech to be
in good standing with its consumers and the general public, it needs to keep important factors
like app function and volume of advertisements in mind. If the app is released before it is
perfectly operational, it could have disastrous effects on PR and thusly, people will have a poor
view of GymTech as a brand.
GymTech needs to create a specific brand personality. In order to appeal to its target
demographic of 25-35 year old urban professionals, it needs to effectively communicate with
them. Part of building a brand is a good product-consumer bond. For GymTech, its target market
is concerned with ethical and environmental issues; these must also be the focus of GymTech.
By sponsoring charitable events, and by donating to relevant non-profit organizations, GymTech
can really build a name for itself to its target market. An
example of a charitable event may be something as simple
as: “for every 10km you run in the month of December, we
will donate $0.10 to Red Cross.” This can also be a strategy
to motivate people to use the app in the low season.
b. Pricing Strategy
i. Pricing Factors Considered
With nine out of ten apps being offered for free, there is much to consider when determining the
correct price for an app (McDermott, 2012). Offering a low price may attract more people at the
beginning, however people may feel that this app is of lower quality and inferior to others. This
could end up hurting sales, as someone may feel that if they are going to pay for an app they may
as well buy the best one possible (Komlofske, 2013). There is also the option of offering a higher
price initially, and then lowering it as time goes on. This strategy is found to anger the customers
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who have already bought the app and could hurt the clientele already built up. These angry
customers could leave bad reviews about the app and harm future sales (Thomas, n.d.). The way
GymTech is determining their price is by following the going rate price of other apps. This
eliminates all of the above problems, and will ensure the app is not priced too high or low
(Komlofske, 2013). The price to develop the app also
influenced the price of the app. The cost to make an app
is $100/hour and it would take approximately 200 hours
to complete. This means to create the app, it would cost
$20,000 (Personal Communication, Lee).
ii. Pricing Objectives
After all pricing factors were considered, the decided upon price for the app is $1.99. Even
though the majority of apps are free, GymTech found it necessary to charge a fee for the app in
order to make enough revenue in the first year. If one looks at the latest fitness apps on the app
store, it appears the highest priced one of these apps goes for is $10.99, while the majority fall
between $0.99 and $5.99. The company is choosing to follow the going rate of other apps, so
$1.99 was a logical choice, as it is affordable, but not so cheap that people would feel this is an
inferior product.
iii. Any Special Adjustments
Along with making revenue from the app itself, GymTech will also make money from having a
few advertisements in the app. Apps with ads make about $4 per person each month. The
company makes money every time someone opens the app (Lovell, 2011).
iv. Quarterly Target Revenue Projections for the First 12 Months
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It is expected that GymTech will sell 100 apps in the first month and increase sales by 35% per
month for the first year, as word spreads around about the app. After the first quarter, revenue is
expected to be $364.17 from the app alone. With the added $1,672 from ads, revenue will be
$2,036.17. The second quarter revenue will be $6,681.51, after selling approximately 449 of the
apps. Revenue will be at $18,096.96 after the third quarter. At the end of the year, the goal is to
have sold 2,715 apps for revenue of $46,166.85. This is extremely doable, because in Vancouver
alone, there are 107,000 people who use a gym once a week or more often (“Straight Facts –
Fitness/Gym or Fitness Club”, 2013).
c. Distribution (Place) Strategy
i. Identify the Channels and the Factors Used to Choose a Marketing Channel
GymTech will be using an indirect channel to reach the consumers. The application will be
available on app distributors for all smartphone devices, such as the Apple Itunes and Google
Play Store. The consumers will then purchase the app directly off those distributors.
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Electronic marketing channels will be used to reach buyers and create customer values. Our
application can be accessed on smartphone devices through the internet to make service available
to consumers. This allows sales to be made effectively and in an efficiently manner.
Although our application is available to anyone, our target market is to the people who attend
fitness centers in the downtown location. Our cooperation with fitness centers will help us find
potential customers that will purchase this app. By providing GymTech on app stores, our app
can constantly also find new potential consumers. A product factor used to determine our
marketing channel is unit value. Since the price attached to each unit is quite small, our
marketing channel is an ideal place to carry this low value product. Lastly, the company factor
used to choose the marketing channel is the financial resources our business has. The company
does not have a huge amount of money, because it is relatively inexpensive to maintain and sell
an app. Having our product available on the app store as our selling agent would be the most
efficient and effective way to best serve the needs of our target market.
ii. Specific Location and Rationale
The specific location GymTech will be placed on is in the Apple App Store and Google Play
Store. Intensive distribution is used for the convenience of consumers so the application is
available to them just clicks away. The reason for this is because those locations provide easy
access for consumers and best reaches the target market. This will also best satisfy buyer
requirements, since information can be easily accessed through the app store. Lastly, placing this
product on the app store is the most cost-efficient and profitable since this channel is more cost-
17
efficient than employing salespeople. This leads to lower selling expenses resulting in the most
profitable results.
d. Promotional Strategy
With GymTech’s target audience being young urban professionals earning an above average
salary, it only makes sense to promote the app in a manner that really communicates with that
group. Since GymTech is a new application to the market, it is critical for the company to create
the right communication system. Traditionally, mobile apps tend to use inbound marketing
strategies such as search engine optimizations or pay-per click; however, GymTech will use both
inbound and outbound marketing to maximize the market share in a short period of time by
building strong brand image with techniques such as slogans. An example being: “Four Seasons
of Motivation.” All of GymTech branding and marketing will be based around two core ideas:
motivation and wellbeing.
Website
GymTech will use an inbound marketing strategy by launching a
product website to create a sense of community with users. The
website will not only sell the product, but also educate users with
tutorials, and include forums to help create a strong channel of
consumer-company communication. This website will be made using Wordpress software for its
simplicity, cost effectiveness, and elegance. Search engine optimization will also be needed,
using the key words/phrases: gym app, gym motivator, daily exercise app, gym track, and
GymTech. Putting these five key phrases on the first page of three major search engine websites
would cost around $3,800/year.
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Promotion
Unlike other applications, GymTech would also focus on outbound marketing. To reach the
target audience with a limited budget, GymTech will approach with two main promotional
strategies: “The BOX” and a gym-based promotion. The GymTech BOX is the company’s event
marketing strategy. This will specifically target generation X in the downtown Vancouver area.
Running once in December, this event’s purpose is to demonstrate the product’s exceptional
advantage over the weather. The GymTech BOX is a clear box containing a few different types
of gym equipment such as treadmills, bicycles, and other gym equipment that our product is
compatible with. The BOX will be set up on Granville Street on a Sunday with four temporary
staff members to promote the product. The purpose of this event is to help develop a loyal
customer base. Customers who update their experiences on the company website or their own
social network service would get a bottle of water at the location; a laptop will be set up for this
occasion. A fitness center will have to be willing to sponsor their equipment for the event date on
behalf of their advertising.
The cost of the event is expected as follows:
Labour
Event
Expense
Gym Equipment
Event Giveaway
$13/ hour
Container rent/ day
$1,500
Sponsor
Approximately
1000 water bottles
8 hours
4 Staff
Heater/ day Space rent in DT/ day
$1,000
$2,000
Total
$416
$4,500
$0
$150
Total cost of the event is $5,066 and it will reach thousands of potential customers. This event is
to create brand recognition and to educate potential users.
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The second promotional strategy is a gym-based promotion. The idea is to keep promotional
costs as low as possible, and GymTech’s method to accomplish that is allowing gyms to view
users’ data for free in exchange for promoting the app in their gym. When a new user downloads
the app they must enter basic information such as age, sex, and where they work out. Plus, they
must agree to the terms and conditions, one of which being that GymTech may give out any of
their information collected on the app in a purely statistical manner. This valuable information is
great for gyms, because they can find out such things as: what equipment people like to use the
most, what are people’s preferred gyms, when do people come to exercise in a gym, and much
more. These gyms can then adjust their strategies to cater to these people’s needs, and in turn,
make more revenue. There are approximately 40 gyms in the downtown core of Vancouver
alone, so if only a quarter of them wanted to do this exchange, it would mean thousands of
people would see advertisements about GymTech (“Gyms Downtown, Vancouver, BC”, 2013).
There are sure to be numerous gyms not located downtown that will also want this information,
which will help the company even more. Another 1000 water bottles costing $150, and small
poster ads developed from the company owners’ home would be given to the gyms to promote.
6. Budget
a. Year 1 Sales Projections
After a full year in business, the company will have sold about 2,715
of the apps, which equals total revenue of $46,166.85. App stores
make 30% of the price of the app, so $1,620.86 must be deducted
(Heater, 2009). Also, after subtracting the start-up costs of $20,000
and the promotional costs of $9,016, the net profit is $15,529.99.
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b. Promotional Budget
The budget for all of GymTech’s promotions comes in at under $10,000. Since the visionary of
the company is capable of creating a website using Wordpress, GymTech had no need to hire
anyone to create a website. The only costs to do with the website are for search engine
optimization, which totals $3,800. The BOX promotion costs $5,066. All the promotional items
used for the gyms equal $150, because only the water bottles cannot be made by the company
owners. In total, all the promotions for the first year in business equal $9,016.
7. Evaluation and Control
GymTech has set monthly sales goals for the following twelve months after the company has
launched. These targets are aimed at the downtown Vancouver metropolitan area. These figures
will be compared to the actual numbers being produced, and the company will then further
evaluate upon what is or is not being done correctly. If sales and revenue meet or exceed
projections, then GymTech must evaluate all of its current marketing procedures and consider
expanding or further applying them. If sales and revenue fall below the targeted expectations,
GymTech will need to re-evaluate its current practices, discover where it is falling short, and
administer the appropriate adjustments to facilitate that change. This type of intervention is likely
to be in the form of a boost to promotional strategies. For both scenarios, revenue projections
will need to be adjusted continuously to display the correct figures.
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Summary of Work
Marcell Szlavy: Executive Summary, Product Strategy, part of Promotional Strategy, and
Evaluation and Control
__________________________
Paige Blaise: Strategic Focus and Plan, Pricing Strategy, part of Promotional Strategy, Budget,
Summary of Work, and Bibliography
__________________________
Mike Lee: Situation Analysis, part of Promotional Strategy, and researched lots of useful
websites for group’s use
__________________________
Colin Jung: Marketing and Product Objectives and Distribution (Place) Strategy
__________________________
Edited by everyone
22
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