- Describe the revenue drivers you currently include in your business concept for this class. Revenue drivers are the different ways you make money.
Signing people up for memberships on a monthly basis that cost 120$ each.
- Describe what kind of product offering you believe should be next. What's the nextthing your customers want?
Protein powders, recovery drinks, family group rates, easier classes for the very unfit trying to improve their basic lives.
- Describe how this "next" thing will enhance your existing product/service offering. Does it improve the user experience, does it increase customer switching costs, does it foster customer loyalty, etc.?
The protein and recovery drinks will enhance athlete performance and make them enjoy the experience better because they will become better faster. Family group discounts and more basic classes will bring in more money as this will increase gym membership as a whole. People seem to enjoy working out with their spouses or kids and this will increase that urge!
- Go to Amazon and try to find a product that is similar to the one you want to offer next. Describe the product. Include a picture of the product.
P90X is a very similar product, but it is different. With P90X you workout at your house on your own schedule. People who do this have to own their own equipment, and workout at their own house. This is ideal for people who own larger houses to accommodate all the space it requires. Training is most with free weights and body weight movements. There is a program to follow, as well as a meal guide to follow. I actually did P90X maybe 8 years ago now.
- What are the customer reviews for the product? What, exactly, do customers not like about the product? What do they like about it?
People actually like P90X a lot, and the fact that every movement can be scaled. WHich is similar to the product I want to bring to teach people who are extremely unfit to improve their life. P90X just does not coach people as they are doing it, and people like the coaching environment. All positive reviews for this product, except when you try and repeat P90X a few times the workouts can become boring, time consuming, and the results go away because the stimulus stays the same.
- Describe what design/usability changes you'd make to the product.
Different workouts regularly to keep the stimulus new and exciting.
- Describe why you think this product would make a good addition to your current product/service offering.
This would encourage more people to show up, and diversify the customer base by adding a new market to it. Having a separate class for athletes, and then a new class for individuals who are solely their to loose weight and improve their basic lives. This would increase the team base feel for the new people who want to feel good about working out and make current athletes feel better about themselves.
Hi Stephen! I think this is a great idea! I like that your business plan combines a work out and gym with protein drinks. These aspects of bettering your body go extremely hand in hand and I think a lot of people fail to realize this or fail to see the importance. I've heard that improvement has to deal with 70% what you eat and drink and 30% with working out, so adding the protein drinks as an aspect of your workout is a great one. Check out my blog! http://cassiespinner.blogspot.com/2016/03/amazon-whisperer.html
ReplyDeleteHey Stephen. I do think that adding recovery drinks, family rates, and easier classes will attract a lot more clientele. There are a lot of people with families and as the day goes on there are more and more people that are working out. Inventing your own type of workout routine that works well will also attract more revenue. If you would like to see my post, here's the link: http://thisisnotawkward.blogspot.com/2016/03/amazon-whisperer_27.html
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