Chapter 1 – case for critical analysis Question 1: How might top management have done a better job changing Electra Products into a learning organisation? What might they do now….
Value Proposition of Gym/Spa Business
A business endeavor like a gym and spa is a rewarding one, due to the fact that you are not only doing business but you are doing people a favor as well. What is nice about a proposed gym/spa business that it complements each other, a spa will always complement to a spa, because it provides the clients a chance to relax after a rigorous workout. Aside from that, the owner of such business can have lots of opportunities the bodybuilding and fitness industry has its complementary products as well. Among these are food supplements that people place a premium nowadays. This can fuel the revenues of the business as well. On the other hand, the spa will draw ladies and metrosexuals who are put a premium on wellness services. The spa will complement the gym and it is evident among prominent gyms with their own spa services.
Pricing and Advertising
The gym/spa will get athletes and sports celebrities as their endorsers. This will enable the gym/spa to draw clients which will be motivated to enroll in the gym/spa. The payment will be on a monthly, quarterly, and annual basis. This will give potential clients the option to enroll at the gym/spa based on their income.
Market Niche of a Gym/Spa Business
A slogan that can be used with this business is “Health is Wellness, The Rest Would be for The Best!” The gym/spa business will hold a firm position on its market niche because it will draw people from all walks of life that makes this business worthwhile and lucrative. Mostly the people who are stressed-out from work will draw your attention. It is evident among gyms like Fitness First and Gold’s Gym who have their own spa amenities inside the gym. Another thing is that, you can engage into this business with some of your friends, so as to draw a variety of crowd that will eventually be your regular clients.
§ The gym/spa showcases a wide variety of state of the art amenities and equipment that will promote fitness.
§ It has other amenities aside from the usual gym/spa that will augment the gym/spa itself.
§ The gym/spa will have a hard time enticing blue collar workers because of its massive advertising using celebrities.
§ It is a hindrance that there would be a possibility that the gym/spa can only accommodate a certain number of clients inside the vicinity.
§ The gym/spa will have potential consignments with other business establishments, such as nutritional supplement shops that will augment the advertising of the gym spa.
§ The gym/spa can make their service 24 hours a day because there are people’s work shifts vary.
§ The gym/spa is deemed to get a demand for the increase in payments if ever client enrolment will be at a low.
Nearby gyms like those within the neighborhood will be a petty yet potential com