Sunday, November 17, 2019

Marketing report Essay Example | Topics and Well Written Essays - 2500 words

Marketing report - Essay Example Unequivocally, firms have greater emphasis on marketing research to generate useful information that in turn facilitates in modifying business strategies, in decision-making and problem-solving. For instance, the emergence of mass media has greatly affected / influenced the attitudes, perceptions, behaviours, beliefs and lifestyles of people all across the globe, thereby creating new challenges for a firm to thrive in contemporary environment. Marketing research (exploratory, descriptive and causal) is also beneficial in analysing the business potential and viability of products. In addition, it enables the firm to gain insight over underlying factors and critical risks after which firms could amend their strategic objectives and product lines. Nevertheless, the research enables the firms to identify gaps in consumer markets, to innovate and differentiate their procedures and products followed by attainment of cost leadership. An important advantage of marketing research is that it f acilitates change management initiatives. In other words, it helps replacing the old workplace rules, regulations, requirements and criteria by new workplace standards and roles so that the organisations could flourish in an absolutely uncertain, unpredictable, unclear, unstructured and unexpected business environment. A professional or private sports / fitness club initiates marketing research after problem identification (for example – when sales decline because customers are switching to other centres, when top facilities in centre unable to attract maximum customers due to flaws in marketing strategy, when competition increased after inauguration of new clubs at nearby locations and other issues, when customers all across the city are unaware of the club’s product offerings etc.). In simple words, the research enables a sports / fitness club to draw useful inferences regarding external environment and to compare differences in their actual and perceived strengths. Having assessed the aforementioned, the club could then implement more ‘effective’ marketing and advertising strategies that can be utilised to enhance the profitability and long-term monetary gains. This paper will demonstrate the marketing strategies adopted by Lifestyle Aquatic Fitness Centre - a UK based sporting, exercising and gyming centre that provides premium quality fitness services to public across Liverpool. Nonetheless, Lifestyle Fitness has always focused towards brand recognition, innovation, differentiation and value proposition because these aforementioned are the foundations of success and sustainability of any group or business organisation. Indeed, the strategic planners pay special attention to maintain and improve service quality through induction of new equipment, training courses, facilities and sporting activities because it enhances market reputation and goodwill among stakeholders and customers. Total Quality Management principles such as benc hmarking, continuous learning and experimentation etc. are adopted for value creation, which then lead to improvement in sales and profitability. Without any doubt, the aforementioned provides Lifestyle a competitive edge over rivals such as Greens Health, Hercules Health & Fitness Centre, Novotel Liverpool, Absolutions Health Clud and others etc. in fitness and sporting industry .

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