MKT100

→My passion for fitness and passion for people turned my love for exercise and
being healthy into a small business. This will be Fitness AND Recreational centre
that will provide best services, moreover this centre will provide great focus on
motivating and inspiring the people to follow healthy diet and routine.

Business Name- SHAPE AND SIZE

What is SHAPE AND SIZE (Fitness and Recreational sports centre)?

It’s a gym with many amenities not only equipments, but also include recreational
activities that is why this centre is considered for all ages. Motive behind choosing
this name SHAPE AND SIZE is to promote healthy lifestyle among people, this
place focuses on your shape i.e health and this is suitable for all type of sizes i.e
age groups(kids, youth, adult and above 50s too)

About New Product Development

→With a passage of time every business needs to improve/modify or develop

new products and services in order to attract new customers and to be better
than the competitors. But development of new product can suffer failures , so for
success those new products or services, organisation or business needs to go
through the new product development process which will determine all the
possible outcomes that business will face by launching or generating the new
product or service through various stages.

Major Stages in New Product Development

●Idea Generation- This is the beginning of our business development journey. In this
stage one comes with new ideas by research or by considering the needs of customers.
SHAPE AND SIZE (f and r centre) will add more facilities for the clients which will result
in the profitability of the centre and raise the competition for the competitors.

New ideas

→Introducing new and advanced automatic equipments

→Collaborating with the Celebrity Trainers

→Up to date Certifications

→Group or family Fitness classes

Generating new ideas for the business will edge over competitors in our location and
attract more customers

●Idea Screening- Next focus of the business is to check or examine the best idea
which the centre or the business needs the most and what will be the changes in the
cost of services which should be decided earlier . So this stage helped in deciding that
collaborating with celebrity trainer will be bit expensive but it will be foresure a good
idea for the growth of centre as quality training is must. Moreover group fitness
classes will be more time saving for all age groups

●Concept development and Testing- This stage of NPD involves the customers
through which one can test the concept of idea with them. By conducting a survey or by
giving free trials, will definitely help in knowing whether the concept is liked by the
people or not and which age group is more fascinated by the new services provided by
the centre. By free trials more people will try the services which our business will be
providing and if they will be satisfied by our concept they will register themselves in our
centre.

●Market Strategy- Market strategy involves creating the objectives and strategies in
order to attain profits and to position their product or service in the target market. By
providing fitness classes in group and collaborating with celebrity trainer more
number of people will enrol in the centre whether they are fitness freaks or not. So with
some initial investment, centre can gain profits and benefits in future. Good strategies
can lead to long run sales
●Business Analysis- Implementing new business strategies to strengthen the business
or to innovate something new in business will results in increase in profits. Business
analysis helps to paint the picture of progression from marketing strategy to
anticipated income. So with the generation of new idea what will be the percentage of
sales in future, it can be estimated by business analysis by measuring the product or
service value

●Product Development- This stage is where the product is developed and get
prepared for the real consumers testing stage 7th . F AND R centre will set up their new
and advanced equipments and come up with the new services/ideas like group fitness
classes. Most important will arrange the renowned trainers for different age groups.
Then these strategies will be tested and and then will be commercialised

●Test Marketing- At this stage, centre will conduct different quizzes regarding this
business and services which will in addition promote the gym and even will let us know
about the response from the consumers. Questionairs will be distributed for collecting
the honest feedback from the people/customers regarding the issues or problems they
face due to new services added and will be answered through those questionairs only
that how it should be fixed

●Commercialisation- Finally after all the stages pricing and finalising the marketing
plans is left. Services which are decided to get added/ developed will be initially
provided to every member at minimal charges. By focusing on success, the fare charges
that will be implemented on giving group fitness class will be reasonable for all age
groups so that people will feel delighted to be the part of the centre where quality
workout training is given at not to high charges. If the consumers will be satisfied by the
training given to them then there will be pre planned slight changes in the price of
membership plans in future. Hence the product/services will be launched by considering
the negative as well as positive feedbacks.

→To epitomize,
NPD Process has reached an end. Launch plan is ready by
completing/implementing the service, market analysis, target audience, market
strategies, pricing plans.