Personal Trainers in Australia

Personal Trainers in Australia Order Description   This review report is based on the attached IBIS report on 'PERSONAL TRAINERS IN AUSTRALIA'. The Review Report will require you to present your work in a report format (including the use of subheadings where appropriate) utilising Harvard System of referencing Assessment Details This assignment is designed to encourage students to explore the impact of consumer behaviour on marketing strategy through developing an in-depth report on a specific target segment’s consumption patterns in a specific product category. The assessment will be structured within a marketing mix framework, exploring internal, external and decision-making influences and involve a detailed and in depth analysis of the primary target market. This report also requires you to consider and evaluate the relevance and validity of the proposed positioning statement(s) and an evaluation of the marketing strategies employed.   Please note, this report will require you conduct secondary research. Ensure that you draw on additional resources, such as industry reports from IBIS World, academic journals and marketing practitioner resources to supplement your analysis. The suggested format for this is below: 1. Market: size of market, key trends and product life cycle 2. Competitors: direct and indirect competitors, size of competitors, positioning of key competitors a. Product positioning: how is the product positioned in the marketplace to appeal to the target market. 3. Target Market Segmentation: Identify three segments. You may allocate identities/ names to each segment. You can segment the market by using bases such as geographic, demographic, psychographic, behavioural or benefits sought. These can be used individually or in combination. a. Are there any potential market segments you would recommend for this service that are currently not being catered for ? Describe these segments as above. Identify and justify the selection of ONE target market for the product in question and provide an in-depth profile of the consumer that typifies this target market. Based on the profiled consumer from the target market identified in question 3 you are to focus only on this segment to complete the following section of the report. 4. Decision making process; involvement and perceived risk a) Need recognition: actual state and desired state b) Information search: prepurchase search, internal search, consideration set and external search c) Evaluation of alternatives: criteria for evaluation of alternatives, types of value, evaluation processes, product categorization and criteria selection d) Choice: decision rules and retail outlet selection e) Post purchase: How likely is post purchase behaviour likely to occur? If so, how can it be reduced?   5. Internal Influences 1. Needs and Motives: How readily is the service positioned to satisfy different needs or motives? What needs are being met? (e.g Maslow’s Hierarchy of Needs) 2. Perception: What are the strategic implications of the process of perception for marketers? 3. Learning: Given the profile of your target segment, which application of learning theories would be most relevant to use in promotion? eg; reasoning versus operant conditioning?   6. External Influences 1. Group and Interpersonal Influence: Who are the reference group(s) that may influence this segment? Identify the potential group influence(s) such groups may exert on this segment. 2. Role of Situational Influences; how can marketers capture these contextual effects to influence consumption behavior? 3. Culture and Subculture: What core values does this target market uphold? (Refer to Schwartz 10 core values), Are the values upheld in the society consistent with the consumption of this service? Does the product appeal to a specific adopter category?   7. Marketing Strategy On the basis of your research provide four key recommendations to the marketer of your product on the basis of your analysis. The recommendations may be explored within a marketing mix framework (4P’s) and how the marketing efforts can uphold the positioning of this product in the mind of consumers within the identified segment. 8. Conclusion A succinct overview highlighting the main findings.