Free Marketing Dissertations - Executive Summary The Growth Of The Leisure Industry Has Seen The Rise Of
Executive Summary
The growth of the leisure industry has seen the rise of many innovative methods of business to provide value-added service to the customers in the target market. This report analyses the development of an Oxygen bar in London.
The report commences with the analysis of the external factors that affect the deployment of the bar. The analysis has proved that the substitute products and the bargaining power of the customers are the critical factors affecting the development of the bar in the target market.
The analysis on the market segmentation and the customer profile has revealed that the customers from the existing markets for aroma therapy and yoga are the target market segments for the business. The customer profile analysis has further revealed that the customers from the age group of 30 to 50 years form the target market and that the market potential increases with the increase in age.
This is followed by the cost analysis and the design factors whilst designing the bar. The marketing mix analysis and the promotion plan were then drafted to complete the analysis on the Oxygen Bar.
1.0: Introduction
Leisure in industry in the UK is tremendously growing with innovative methods of product customisation and business strategies deployed by the competitors as argued by Isla Gower (2004). This is not only because of the increase in the demand from the customers but also as a result o the intense competition among the players in the target market who continuously strive to achieve competitive advantage through increasing revenue and market share. The high level of pollution and the need for inhaling fresh air rich in oxygen has created a niche market demand for oxygen bar in the UK. In this report a critical analysis on the establishment of Marylebone Oxygen Bar as a leisure centre as Marylebone road in London is presented to the reader.
2.0: Analysis of the External factors
This section presents a critical analysis on the external factors that affect the growth of the Oxygen bar in the target market. The five forces analysis on Michael Potter (Gerry Johnson and Kevan Scholes, 2003) is conducted in order to identify the macro environment.
From the case study for the Oxygen bar, it is clear that the bar in its own is a new entrant in the target market (i.e.) the oxygen bar itself is a new venture in the Marylebone road. This makes it clear that it is essential to either promote the Oxygen Bar as a leisure product or a health product. With the tremendous growth in the leisure industry where the customers are increasingly spending money and time for leisure as well as health and fitness, it is thus recommended to promote the business as a leisure industry product.
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