Unit 6: Assignment
Brand Extension Marketing Plan Project
1.0 Executive Summary
Beachbody was created in 1998 by John Congdon and Carl Daikeler. Beachbody produces, markets and sells its home-based fitness and nutrition products through infomercials and its Team Beachbody coaches.
While Beachbody offers hundreds of fitness and nutrition products, they didn't have a product that helps underweight people put on weight. Beachbody will roll out a product called Mass Morph as a line extension to their Body Beast line. Body Beast already has a comprehensive line of supplements and a meal plan, but these do not currently contain a weight gainer. The product is a weight ...view middle of the document...
Before any product is ever launched, several test groups are try out the products first. These test groups are made up of a mix of Team Beachbody Coaches and everyday non-affiliated people. This allows Beachbody to fine-tune the products before introducing them to the public. Additionally, before introduced to consumers, Beachbody executives are a part of the test group, too. This shows its consumers that the products work, and the executives use the, too. This creates a value proposition for its customers—they deliver on what they promise.
The keys to success are developing new products to meet customer demand. Beachbody has an almost messianic following of customers who are eager to try their new products and fitness programs. By pairing customers with their own Team Beachbody Coach, a lot of customer service issues are avoided. These will ensure a profitable, sustainable company.
2.0 Situation Analysis
Beachbody is a well-established company offering home-based fitness and nutrition products. They possess a proven formula for helping its customers achieve success, as well as helping its coaches achieve financial freedom.
2.1 Market Summary
Beachbody has a good grip on who its customer base is, how to continually provide new products that cater to their needs, and how to service these customers.
Fitness-minded individuals who are looking for a challenging workout
Stay-at-home and work-at-home mom/dad who are looking for a business opportunity to supplement the family income
Financially-strapped individuals who can't afford a gym membership
The economy has forced people to watch their spending, look for additional ways to earn money, all while keeping happy and healthy.
2.1.1 Market Demographics
The profile for the typical Beachbody customer consists of the following geographic, demographic, and behavior factors:
Beachbody has no set geographic target area. They utilize mobile, print, online and radio to delivery services. Coaches are in the United States only, but serve customers globally.
There are 1 billion people in the world who are at least considered overweight, and 800 million who are considered underweight. Beachbody wants to help not only these populations of underweight and overweight people, but to help all people lead healthier, fit lives.
Beachbody wants to help families, single persons, young and old.
They cater to those who can't necessarily afford a gym membership or expensive supplements because their supplements are reasonably priced and their workout programs are home-based.
Users are willing to invest in a product that will save them money over time.
Users are looking for an alternative to costly gym memberships
2.1.2 Market Needs
Beachbody provides the community with challenging home-based workouts and nutritional supplements. Beachbody strives to provide the following benefits to its customers:
Fitness programs that...