Health and fitness fanatics
Supplements as the products are focused on the health and fitness industry. The sports supplements are dietary products used by athletes and even ordinary people in order to maintain a healthy dietary balance in their bodies. Both athletes and non-athletes widely use sports supplements in order to achieve dietary recommendations that may not be available in the foods that people intake.
Health and fitness fanatics are now the growing consumers of these products. The increased focus on health and wellness is pushing people into health and fitness options. Sports supplements’ target market is relatively large, as it is believed to hit $44billion by 2022. The market is growing gradually, presenting more opportunities to ventures into health and fitness products.
The demand for health and fitness products has grown tremendously following the increased awareness of prevention and wellness. Preventable diseases such as cardiovascular conditions account for one of the leading causes of death in the use. These preventable conditions are brought about by lifestyle and lack of exercise. Obesity and excessive weight increase the risk of developing cardiovascular issues. Health and fitness offer the solution to these problems by restoring health and keeping the body in check.
The problem is quite significant as it has become a nationwide health concern. Healthcare reforms have even been structure to support health and wellness, which is the core focus of health and fitness products. More and more people are becoming aware of the need to stay healthy and avoid preventable health issues.
The value proposition of the product will be established through e-commerce. Internet selling poses several challenges such as delay in shipment, fulfilling orders that are out of stock as well as return policies (Kaplan, 2010). Employees must be good at solving problems and must be able to come up with new innovative ways of solving issues. Advertising and marketing will take an online cause since we hope to reach a global audience. This will involve the use of social media marketing and internet selling as part of the digital marketing plan.
The measurable variables in the sports supplements product will be the number of nutrients in each package. The amount of nutrients is used to calculate the nutritional value of the products. The weight of the product in every package is also a measurable variable. It helps to determine the cost as well as how long it might last depending on consumer usage.
One of the competing brands in sports supplements is Ghost Lifestyle. The competition maintains it’s competitive advantage through social media focus. They market and advertise their products on different social media platforms and have decided effective social media strategies such as the use of influences to enhance their brand awareness. They focus majorly on trending athletes such as the latest athlete winners.
The other major competitor is Nutrabolt. The company has found success in its edible supplements, such as with the Fitjoy brand. Isopure is another competitor in the health and fitness industry. The company has major financial powers used to gain more resources, such as through the acquisition of Glanbia.
Products
The sports supplements will include pre-workout products, post-workout products, testosterone boosters, and fat burners. The products will all be organic to fall in line with the health requirements of consumers.
Place
The place of business for the products will be online through an ecommerce platform. The main reason for choosing the ecommerce concept is because the internet of things makes it easier to operate a business.
Price
The price of the product will be close to the competitors’ prices. The main reason for using competitors’ prices is to establish the appropriate price ranges. The products will also range in prices depending on the number of packages to give different consumers the ability to purchase.
Promotion
Digital marketing and social media marketing have become an important trend in marketing, with many companies adopting them and gaining profound benefits. The company hopes to utilize this t