Marketing Plan For Bodybuilding.Com Essay Example
Recommended Marketing Plan for September 2015
Marketing Research Proposal
There are some areas of market research, but each has its effective option. For instance, when promoting popular products, the market of which is already full, the company must have accurate information about the dynamics of this market, its capacity, needs and preferences of consumers. And the proposal should be not only qualitative, but also differ from competitors.
It is necessary to conduct market research in the event of sudden decrease in sales for some strange reason. In this case, after analysis and market research, the head will see the causes of what is happening and be able to change the marketing policy. For companies, which are going to expand and seek new ways of promotion, research is essential. Just marketing analysis can determine exactly which partners should be dealt with and which channel is most appropriate.
For Bodybuilding.com the valuable information includes segmentation of markets, where it operates (or intends to act), which must be made so that the segments in different markets were characterized in the same general reaction to advertising, sales promotion and other marketing activities. When selecting marketing tools of impact on the potential buyer it is necessary to be aware that the price as a factor in drawing attention to the product is put by the importance now into the 3rd-4th place among other factors.
The company can use qualitative and quantitative methods for collecting data, namely observations, experiments and expert interviews related to qualitative methods, and surveys, home-tests and retail-audit related to quantitative methods. All methods can be applied by company’s staff and will cost them only salaries or professional agency can be hired.
After the research conducted, supply and demand, as well as product’s and competitor’s strengths and weaknesses are known and all the nuances are taken into account, a unique selling proposition. Improving both the product itself and its positioning, in advertising the emphasis is placed on the points that are interesting to the buyer. As a result, the potential buyer simply cannot refuse such an offer.
As one of the company’s popular products is protein powder, which role in human’s organism is crucial, two smaller segments that Bodybuilding.com could target to make better use of product are Aged Women and Sporty Women. Modern women in graphics-intensive find time not only to work, care for children, and romantic moments with beloved, but also visiting gym. Therefore, there is increasingly a need of an additive such as a protein for women. In fact, proteins particularly for women are no different from men’s proteins, but it is better to understand the best way to take protein for women and what types to prefer.
Proteins for women, who engaged in power sports, are needed for rapid disaster recovery of muscles, wound of micro damage muscle fibers. Scientists have proved that soy is the best protein for women, because it lowers cholesterol, improves kidney, reduces the risk of osteoporosis and cancer. Sporty Women are mostly aged between 15 and 32 with middle income and social class. The structure of their psychological indicators includes significantly anxiety, aggression, extroversion and need for achievement. They prefer active life.
Especially useful the reception of protein supplements for older women (Aged Women) during menopause, since the protein stimulates the production of the estrogen hormone, which development in the body is suspended. The basic functions that protein consisting of amino acids performs are tissue regeneration, stimulation of digestion and assimilation of food, transport nutrients to organs, increasing protective reactions, and normalization of hormonal levels. Therefore, proteins for women are even more important than for men, especially if a woman puts permanent body strength training. Aged Women are between 45 and 55 years. Geographically both segments of women can buy protein in 159 countries, where Bodybuilding.com ships its products.
About company’s product both segments can find information on the Internet (website and social networks), magazines (TRAIN, Flex, etc.) and TV (iSpot.tv, Justin.tv, etc.). However, both segments of women prefer to read not only special magazines or watch special TV shows, as ordinary women they like Cosmopolitan or Glamour, where Bodybuilding.com can put its advertisings.
It will be good to use an associative positioning method, when the company associates the goods to a particular person, place, thing, or situation properly. Associative method is often referred to as emotional or image positioning of the product. This way of product positioning is effective, when the product of the company does not have a clear distinction from other products on the market and is fairly standardized. Associative method helps the consumer to better remember the product, to give the desired product image by creating a bright image and to emphasize one or more characteristics. Thus, the product should be positioned as vital necessity at reasonable price. A woman should consume at least 2 grams of protein per kilogram of body weight per day. A woman, who is involved in sports, should increase the amount of protein consumed up to 4 grams per day per kilogram of body weight. Protein for women is benefit and requirement. Some celebrity can be involved in the advertising campaign, who has achieved successful results in sports while consuming protein.
GNC Live Well, Vitacost.com,
VitaminShoppe and A1 Supplements.com
Low Saltiness High Saltiness
All competitors together with Bodybuilding.com can be found in the same quadrant as they sell similar product. Whey protein, for example, (derived from whey) is often sold as a nutritional supplement, salty and much crisped. However, both Sporty and Aged Women prefer to consume less salty product as they believe that control of salt use is necessary for all, without exception. Excess of sodium and chloride delay the body fluid. It accumulates between cells and increases the amount of the liquid portion of blood. This causes the increase in blood pressure and the occurrence of edema.
In order to move Bodybuilding.com closer to those segments, the company should try to search for other types of protein and producers, who will cooperate with it. Also, the company should provide women with recipes of sweet cocktails, which will help to avoid salty flavor.
The modern athlete cannot do without training and special diet. It is important to keep muscles not only externally (i.e. via the gym), but also internally. Products of such brands as Ironmaxx, Ultimate Nutrition, Optimum Nutrition, Muscle Pharm, Muscle Tech, Universal, Bsn and Dymatize Nutrition boast a high quality performance, and hence its effectiveness. High-quality protein is a crumbly fine powder of dense homogeneous consistency and the same color (from white to light cream). Flavor characteristics of the powder depend on the protein origin (whey, casein, soy, egg) and palatability of fillers. The most popular type of protein powder is Whey. Labels of products are pasted exactly. The product is packed in a plastic jar with glued labels – information data (text and graphics) that are applied directly to the packaging.
As the tendency of having sports increases as well as women prefer to look good and be healthy, protein powder is at maturity stage of product life cycle. The quality of product is high, as it is already modified to meet the requirements of the market and the target segment of consumers. This product is introduced to the market by a large number of modifications, so the store has to offer for sale a variety of the product options.
At the stage of maturity market saturation is reached, the goods from the category of new products go into the standard category. The number of customers making purchases of this product for the first time is significantly reduced, and the bulk of the buyers acquire goods repeatedly many times. In addition, buyers have a choice between the many brands that offer this product for sale. At this stage, the role of price competition increases, since the goods are offered for sale in many shops, and competing with each other, they are willing to reduce the price to attract customers to their stores. The number of brands offering similar products continues to grow in the market and feature of this stage is that competitors offer not only a copy of the goods, but also of its original design.
In order to accelerate the adoption process, so consumers won’t wait to buy, Bodybuilding.com should:
Improve trade diversification through product differentiation;
Encourage existing customers to a systematic and more frequent acquisition of goods;
Conduct competitive advertising campaigns; and
Provide with the gradual decline in the price level.