BSBSMB403 MARKET THE

SMALL BUSINESS
Assessment Task 2

TARANDEEP SINGH
GINT190187
 WRITTEN REPORT

Analysis of performance of your Marketing Plan:

10 Conclusion
The Management team is willing and very enthusiastic to start this business venture in less
than 36 months from till now by transforming this opportunity into action and make it
successful venture and a force to reckon at. In the same
line of reasoning, importing and selling used fitness Equipment into the Australian market is
allowed because they are already some companies already offering a similar service.
Furthermore the business idea has been tested through the prime analysis and findings
have shown that the business has a strong potential for success because the management team
is strong and experience, the market is a niche, and the financial analysis show that the
business will be profitable by the end of the first year, if just more than 500 equipments are
sold at 40000 AUD each.
Circuit Fitness Importing offers the finest, most innovative fitness equipment to the
Australian market. As per Circuit Fitness obejective all customer's expectations are exceeded.
By only offering the highest quality product with premium support, Circuit Fitness Importing
becomes the premier fitness equipment importer.Most of the customers have fulfilled their
need and recieved maximum orders from website , telemarketing and sales . Till now , needs
Provide value to customers with the best, most innovative product.

Circuit fitness Developed strong relationships with distributors, anticipating their needs
which leads to the achieve no.1 importer tag .Circuit Fitness also Employed strict financial
controls to ensure profitability. Circuit Fitness Importing has identified three distinct
customer segments that will be targeted for sale of the fitness equipment:

 Distributors
 Fitness Clubs
 Vertical Markets

The following section provides detail regarding each respective segment as well as
background information regarding the industry, a large growing industry. The competition
that Circuit Fitness faces is also provided.

1
performance evaluation methods used:

 Management by Objectives (MBO)

Management by objectives (MBO) is the appraisal method where managers and
employees together identify, plan, organize, and communicate objectives to focus on
during a specific appraisal period. After setting clear goals, managers and
subordinates periodically discuss the progress made to control and debate on the
feasibility of achieving those set objectives.

 360-Degree Feedback

360-degree feedback is a multidimensional performance appraisal method that

evaluates an employee using feedback collected from the employee’s circle of
influence namely managers, peers, customers, and direct reports. This method will not
only eliminate bias in performance reviews but also offer a clear understanding of an
individual’s competence.

 Assessment Centre Method

The concept of assessment centre was introduced way back in 1930 by the German
Army but it has been polished and tailored to fit today’s environment. The assessment
centre method enables employees to get a clear picture of how others observe them
and the impact it has on their performance. The main advantage of this method is that
it will not only assess the existing performance of an individual but also predict future
job performance.

Seek and analyse customer reaction to all aspects of the marketing mix, using culturally
appropriate processes, to improve targeting and outcomes:

Furthermore the business idea has been tested through the prime analysis and findings
have shown that the business has a strong potential for success because the management team
is strong and experience, the market is a niche, and the financial analysis show that the
business will be profitable
something higher there the window of opportunity shall continue to remain open and
therefore the business is expected to be a going concern.Customer attraction describe the
business standard that is how and in what way the business going. Most of the customers
strongly likes the products and satisfied from the services. Young customers havinh strong
attraction about the product.

Comparison of current digital devices, platforms and technologies for effectiveness in

achieving marketing objectives:

2
A website will be developed as a sales and marketing tool for the Esercitazione Diritta products. While the
parent company has a nice Flash-based website that provides a general overview of the technology, the site is
geared more toward individual consumers (fitness users). Circuit Fitness Importing will be developing a website
that is more technical in nature with the target audience being distributors or the procurement department of a
large fitness club. The expense of the website has been listed as a start-up expense.

The marketing of the website will be primarily based on inclusion of the URL in all printed material. Because
the audience of Esercitazione Diritta equipment is fairly specialized, the most efficient means for marketing the
site will be working specifically with the intended customers and pointing them to the site. Circuit Fitness
Importing will submit the website to the various search engines.

Gaps Identified:

current fitness is built on the founders’ recognition of this opportunity gap - A gap between
what is currently on the market and the possibility for a new or significantly improved
product, service, or business that results from emerging trends Current fitness be the only
fitness equipment importer Company located in the South-West and North-West provinces of
Australia thereby serving the niche market at their door steps.

customer needs and promotional activities :

Chances are our potential customer is already buying something similar to our product or
service from someone else. Customer need an attraction that is why
we offer a 10 per cent discount to businesses that spend more than $1,0000 a month - this would be a
USP for cost-conscious customers. We offer a free 1 days delivery service for its business customers
within a local area - an effective USP for businesses that need fast delivery. If we approach customers
just at the time they want to buy, we will massively increase our chances of success.

Encourage all relevant people to propose ways to improve marketing performance:

Encourage them to listen instead of speak : Think innovation means always talking and spitballing?
Not exactly.our team can easily become internally-focused under the pressure of constantly hunting
for their next idea. This leads to a lot of talking and brainstorming, but not a lot of listening.
Resist the urge to pigeonhole : our team members all have their own unique strengths. Perhaps one is
really skilled with SEO while the other is talented at identifying data trends. It’s great to have those
different skill sets packed on our team roster, but it doesn’t necessarily give us permission to lock
team members into super specific (and, ultimately, monotonous) responsibilities.
Place the focus on starting small : Innovation can be intimidating, and constantly pushing our
marketing team to churn out the next greatest thing can feel like a big, overwhelming ask. So big, in

3
fact, that it paralyzes them. They feel like they need to have every single thing figured out before they
even pitch their seemingly brilliant idea.
Emphasize knowledge-sharing : Continued growth and learning must be a core value if we are going
to foster a culture of innovation. After all, the more our team members are exposed to, the more ideas
they’ll have.

Ongoing research of customer requirements and expectations in both on-line and off-line
environments to identify opportunities for change and improvement:

Customer expectation encompasses everything that a customer expects from a product, service or
organisation. Customer expectations are created in the minds of customers based upon their individual
experiences and what they have learned, combined with their pre-existing experience and knowledge.

Customers will have both explicit and implicit expectations regarding the product or service which
they have purchased. They will have performance expectations which include a dynamic element due
to anticipated changes to the product or service over time. Importantly, they will also have
interpersonal and service-level expectations which relate directly to the customer relationship and
interaction with a business or organisation.Customer expectations are influenced by a multitude of
factors but there are a few key elements which are recognised as important influences on customer
expectations.

Identification and response to opportunities to aid business development through new

technologies and different ways of marketing:
The marketing of the website will be primarily based on inclusion of the URL in all printed material. Because
the audience of Esercitazione Diritta equipment is fairly specialized, the most efficient means for marketing the
site will be working specifically with the intended customers and pointing them to the site. Circuit Fitness
Importing will submit the website to the various search engines. The marketing strategy will consist of the
following activities designed to develop a network of customer relationships:

 Focus groups with high-end fitness centers

 Private presentations to distributors
 Private showings to high-end fitness centers
 Meetings and presentations with personal trainers (e.g. melbourn City Personal Trainer Association)
physical therapists, and sports medicine physicians and other specialists
 Tradeshows, with regional and national attendance
 Mailings and direct calling

Strategy to monitor and improve marketing performance:

a) marketing opportunities in the digital environment :

The marketing of the website will be primarily based on inclusion of the URL in all printed material.
Because the audience of Esercitazione Diritta equipment is fairly specialized, the most efficient means for

4
marketing the site will be working specifically with the intended customers and pointing them to the site.
Circuit Fitness Importing will submit the website to the various search engines.

b) methods of monitoring customer satisfaction :

Post Service Surveys: This type of survey focuses on the customer’s satisfaction with a
specific service she’s just received. 
Customer Satisfaction Score (CSAT):This is the most standard customer satisfaction
metric, asking customer to rate his/her satisfaction with business, product, or service.
CSAT score is then the average rating of customer responses.
Net Promoter Score (NPS):The Net Promoter Score (NPS) measures the likeliness of a
customer referring the producrt to someone, and it’s probably the most popular way
of measuring customer loyalty . Customer are asked how likely they are to recommend
product on a scale from 1 to 10.

c) Identification, analysis and evaluation of complex information from a range of

sources
Circuit Fitness Importing faces competition from several large sources. The sources take the form of
other fitness equipment manufacturers and importers. Circuit Fitness Importing is lumping both the
manufacturers and importers together because they are often the same company or a subsidiary. In the
case when they are a separate company, importers only import a specific brand of equipment so it is
really a manufacturing brand versus a manufacturing brand.

 Precor– this is one of the largest manufacturers of fitness equipment. Precor makes both home fitness
equipment as well as commercial grade equipment for fitness clubs. Precor manufactures both strength
equipment as well as cardiovascular equipment.
 Paramount– this is a large manufacturer of both strength and cardiovascular equipment. Paramount
however, only sells commercial grade equipment, they do not sell home units.
 Cybex– this is a large equipment manufacturer that sells a variety of light-commercial equipment. The
light-commercial equipment is a mid-price point, higher quality and price than the home fitness
equipment but not as expensive as commercial equipment. Light-commercial typically finds placement
in vertical market customers where there equipment is not being used 24 hours a day, and therefore the
units can be scaled back a bit in terms of quality and still remain functional for the industry average of
seven years.