Describe how the company/business used the four “P’s” to add value and/or promote the product or service.
Product- Fitness membership at Planet Fitness
Price- $1 down payment, $10 a month if you sign up by 2/27/13.
Place- A mailer promotional that I received 2/15/12 at my apartment.
Promotion- This is a large paper promotional that I received in the mail with a bright pink, yellow, and purple color design. The advertisement highlights the low price of, “$1 down, $10 a month” and the little commitment requirement. On the back it shows a map of where the gym is located in comparison to where I live.
2. What industry(s) is the product or service a part of?
Fitness. Health and Wellness.
3. Describe the target market.
Planet Fitness is a franchise fitness center that has many locations throughout the United States. There is high competition in the fitness center industry and each competitor has to have an advantage or customers can easily chose another fitness provider. Planet Fitness is trying to appeal to the male or female who wants to work out, but doesn’t want to pay a high price. This market does not value the spa, pools, group classes, or any other luxuries that a high-end fitness provider may offer. This customer just wants a close and cheap fitness center.
4. Does it work? Why or why not? Any general observations?
I think Planet Fitness has a good business model. However, mailing promotions have very low return and I threw it right in the garbage. Also, because of the many other cheap gyms customer’s can choose a gym that is closer to where they live.