Executive Summary - Xtreme Gymnastics - Essay Example

Executive Summary Table of Contents Executive Summary 3 References 7 Executive Summary Xtreme Gymnastics has on offer a wide range of training and teaching services catering to a diverse audience segmented by age and skill level, with a focus on differentiated services from trained instructors with USA Gymnastics credentials and certifications, differentiated facilities, and targeted programs for those different market segments (usagym.org, 2012). The Xtreme Gymnastics offerings leverage the health, psychosocial, and developmental benefits of gymnastics programs especially for children and young people, and are relevant to the training needs of children and young adults from age 6 to 16.

There are also programs catering to mature enthusiasts and former gymnasts. The goal is to come up with a sustainable path for Xtreme Gymnastics moving forward with this differentiation positioning, alongside a credible business plan focused on sustainable and profitable growth (Taylor, 2003). The situational analysis reveals, meanwhile, that the overall macroeconomic and macro demographic indicators point to the continued potential of the American market overall to sustain and nurture business concerns such as Xtreme Gymnastics, offering the kinds of programs that it has outlined (Amadeo, 2012a; Kotkin, 2012; Moffatt, 2012; Newman, 2012).

The wisdom of segmenting the market by gender and age is validated meanwhile, by data showing that female children and young people dominate the enrollment in gymnastics programs nationally and in almost all geographies. Combining insights from the external market analysis and the characteristics of the most active market segments, it is clear that long-term prospects continue to support a healthy growth for successful players in the market for differentiated, private gymnastics programs. The target market has been identified as young females aged 6-16 years, with emphasis on the market segment defined by females aged 11-12, historically the single largest demographic by degree of participation (US Gymnastics, 2007).

The marketing objective shall be to grow the business with the target markets using high staff qualification and safe, friendly, high quality programs and facilities as points of differentiation (usagym,org, 2012). Marketing strategies and tactics shall be aligned with this quality and differentiation-driven marketing objective, and shall include information campaigns to heighten brand awareness and awareness of the programs on offer at Xtreme Gymnastics; promotional activities leveraging social media to do the same; complementing the programs offerings with merchandise marketing; brand positioning highlighting benefits to children; and tweaking the price aspect of the marketing mix to make sure that the differentiated, premium positioning of the programs and of Xtreme Gymnastics reflects justly on the pricing.

Tribal marketing tactics shall also be leveraged to increase both awareness and product uptake via increased enrollment in all of the programs on offer. Promotional activities in line with tribal marketing initiatives shall also be employed, and targeted to produce maximum results for the demographics that have the highest potential for Xtreme Gymnastics in terms of future enrollment and re-enrollment in the programs. Such promotional programs are to include free programs to elicit trials and cement loyalty and long-term enrollment (Cova and Cova, 2001; Dionisio, Leal and Moutinho, 2008; Cova and Dalli, 2009; Yoo, Donthu and Lee, 2000; Gronroos, 1994).

Tracking and evaluation shall focus on metrics related to enrollment, injuries, program sales, and merchandise sales (Heathfield, 2012; Mahoney, 2008; Schwarz et al., 2012). Implementation strategies shall focus on management training and the equipping of appropriate skills for managers and staff, alongside the tracking of the performance metrics (Bonoma, 1984; Schwarz et al., 2012). ReferencesAmadeo, K. (2012). Current US Unemployment Rate Statistics. About US Economy. Retrieved from: http://useconomy.about.com/od/economicindicators/a/unemploy-curren.

htm Amadeo, K. (2012b). Current GDP Current Statistics. About US Economy. Retrieved from: http://useconomy.about.com/od/economicindicators/a/unemploy-curren.htm Bonoma, T. (1984). Making your strategy work. Retrieved from http://hbr.org/1984/03/making-your-marketing-strategy-work/ar/4Cova, B. and Cova, V. (2001). Tribal Marketing: The Tribalization of Society and its Impact on the Conduct of Marketing. European Journal of Marketing 2001. Retrieved from http://ygourven2.online.fr/webcom/cova-tribe-2001.

pdf Cova, B. and Dalli, D. (2009). Working Consumers: The Next Step in Marketing Theory? Marketing Theory 9 (3). Retrieved from http://mpra.ub.uni-muenchen.de/36717/1/Cova_Dalli_2009_.pdf Dionisio, P., Leal, C. and Moutinho, L.(2008). Fandom Affiliation and tribal behaviour: a sports marketing application. Qualitative Market Research: An International Journal 11 (1). Retrieved from http://giem.iscte.pt/userFiles/File/Fandom%20affiliation%20and%20tribal%20behaviour%20-%20a%20sports%20marketing%20application%2019.02.2008.

pdf Gronroos, C. (1994). From Marketing Mix to Relationship Marketing: Towards a Paradigm Shift in Marketing. Management Decision 32 (2). Retrieved from http://www.iei.liu.se/fek/frist/fek1hel/mafo/forelasningar_2009/1.308975/Grnroos1994from4PtoRM.pdfHeathfield, Susan H. (2012). Keys to employee satisfaction. Retrieved from: http://humanresources.about.com/od/employeesatisfaction/a/employee_satisfaction.htmKotkin, J. (2012). The US Economy: Regions to Watch in 2012. Forbes.com. Retrieved from: http://www.forbes.com/sites/joelkotkin/2012/01/04/the-u-s-economy-regions-to-watch-in-2012/Mahoney, Diana. (2008). Gymnastics injury rate rivals that of contact sports.

Retrieved from: http://www.acep.org/content.aspx?id=37768Schwarz, E.C., Hunter, J.D., & LaFleur, A. (2012). Advanced theory and practice in sport marketing. (2nd ed.). Oxford, UK: Elsevier.Taylor, Michael. (2003). Some of the Benefits of Gymnastics. Retrieved from: http://usagym.org/pages/education/pages/recreational/Usagym.org. (2012). About USA Gymnastics. Retrieved from: http://usagym.org/pages/aboutus/pages/about_usag.htmlUsagym.org. (2012). School of Recreational Gymnastics. Retrieved from: http://usagym.

org/pages/education/pages/recreational/Usagym.org. (2012). Junior Olympic Program Overview. Retrieved from: http://usagym.org/pages/women/pages/overview_jo.htmlUS Gymnastics (2007). Membership Statistics. Retrieved from: http://usagym.org/docs/About%20USA%20Gymnastics/Statistics/MemShipStatCharts01Mar07.pdfYoo, B., Donthu, N. and Lee, S. (2000). An Examination of Selected Marketing Mix Elements and Brand Equity. Journal of the Academy of Marketing Science 28. Retrieved from http://people.hofstra.

edu/Boonghee_Yoo/papers/2000_JAMS_BE.pdf