A-1 Viability in an Online Market
To begin, a marketing expansion plan is needed to facilitate growth in both online visibility and memberships of FAB. While this type of growth should provide a lucrative ROI, a properly placed marketing expansion will also greatly increase customer satisfaction, further locking in brand-loyal clients. These factors of projected growth through online market expansion open doors that could potentially help fulfill its goal to grow FAB into multi-faceted franchise and retain and expand its current customer base. With limited means of financial support, low-cost budget marketing will need to be the main focus as to not break the bank here. Market Research Environmental Analysis Intended objective of market expansion is to further enhance business goals by successfully creating increased customer satisfaction and drawing in new cliental. Rely on low-cost marketing such as email marketing, article publications and website personalization through web based public relations, crowdsourcing and viral marketing. Externally, the fact that the business is centered around an affordable, niche, already segmented market means the risk of being adversely effected by demographics, regulations or new technology is minimal. While the location of the business is a public park, regulations could be put in place that could eliminate the ability to run a business for profit on publically funded grounds but nothing to report at present. Target Market Analysis Moms of any type are the target. Currently, FAB is strictly a group for moms with kids still in strollers. Classes are catered towards moms with later workday schedules or who are currently in homemaker roles. They are designed to bring like minded women together to accomplish both individual and group fitness goals. While moms are the target, FAB will look at making more accessible options— through both segmented payment plans and weekend options—to include both homemakers and working moms via online expansion. Using certain marketing strategies and building off the current online interest, mostly facilitated through Facebook, expanding online presence will help accomplish brand goals and bring a different aspect to the business furthering customer satisfaction.
Loyal client base of stay-at-home moms that have been together from the businesses inception.
Burgeoning word-of-mouth marketing bringing in new members weekly. Lack of financial resources for marketing expansion Limited to a single person business Grow brand through social media groups; possible merger with other grouporiented classes or joint group events that promote the business line by pivoting off each others success
New implementation of Saturday classes open up a new market for a different type of consumer: the working mom
Expansion through online marketing could expand web presence creating greater customer satisfaction and reaching increased cliental
Potential of losing market advantage to competitor—new or existing Threats References and Customer Feedback Data The only type of marketing done at present has been word-of-mouth-marketing and women who connected with the non-profit group Fit Moms via Facebook but no recorded eMarketing. Fit Moms was a group of ten moms that got together to do casual workouts with their kids. Moms would take turns teaching classes and hosting play dates and Moms-night-out. Women were being turned away from the group as instructor lead classes, even by friends, create a liability if the instructor is not licensed with insurance. FAB was created out of the need to expand the group of moms to a more structured and consistent program that was lead by an certified instructor to meet the demands signified online. Since its inception, FAB has doubled the amount of Moms during the trial…