Fitness is suddenly a new buzzword. Everybody is talking about keeping themselves fit . It has caught the fancy of the people of all ages ,shapes and sizes . Our neighbourhoods have seen a mushrooming of gymnasiums and spas. Earlier they were seen only in five star hotels but now can be seen at every street end or a part of every society . It has become customary for every society to have a ‘gym’ also . This phenomenon can be partly attributed to the sedentary lifestyle and the junk food we keep gorging on .
The other motivating factors also include size zero of Kareena or a six pack abs of Sharukh Khan . Apart from this , it is important to remain fit and to shed all those extra kilos. The main motive is transform from flab to fabulous. Thus , fitness is something which is ‘in’ right now and is also a requirement of present time . The best health insurance of this time is fitness . Wikipedia defines fitness as : The state of being physically active on a regular basis to maintain good physical condition. Fitness is about good health and inner beauty.
Can fitness be marketed ‘ Kotler (2007) defines ten different entities that can be marketed ‘ goods, services, experiences, events, persons, places, properties, organization, information and ideas. Fitness can be classified as a service . It also bears all the characteristics of services ‘ intangibility, inseparability, variability and perishability. Fitness is intangible and cannot be seen tasted or heard. Even the results cannot be known before hand . It is inseparable and also depends on the provider ‘ client interaction. It is of course variable and also perishable .
It cannot be stored . Time once allotted in a gymnasium can not be realloted. Can fitness have a PLC- Like all other product and services that have a Product Life Cycle, fitness also has one. PLC is a bell-shaped curve, which portrays the distinct stages through which a product passes each posing different challenges, opportunities and problems to the seller. This curve is divided into four stages ‘ Introduction, growth , maturity and decline. 1) Introduction ‘ A period of slow sales growth as the product is introduced in the market.
Profits are non ‘ existent because of the heavy expenses of product introduction. 2) Growth- A period of rapid market acceptance and substantial profit improvement. 3) Maturity- A slow down in sales growth because the product has achieved acceptance by most potential buyers. 4) Decline- Sales show a downward drift and profits erode. Fitness has crossed the introduction stage. It was in this stage in the last decade when the companies like VLCC have introduced the concept of reducing extra weight.
It can be said to be in growth stage at present . People have accepted fitness as a part of their routine. New and new companies are entering the market, introducing new machines and new concepts. This is very much visible if we see the number of companies like Fit Line, Grand Slam and Johnson etc who have introduced new products. More and more new companies are entering this segment and newer technologies and concepts are being introduced. Can fitness be said to be a Fad? A fad is a special category of product life cycle .
Fads are fashions that come quickly into public view, are adopted with great zeal ,peak early and decline very fast. (Kotler 2008) But fitness is definitely not a fad. It is something which has squeezed itself into the busy schedules of people . Fitness satisfies a strong need of people of remaining physically fit and looking good. A fad has a limited following but fitness has a huge following. With film stars playing a major role in creating awareness ,it can never be a fad. We have now a special collection by Reebok by the name of Bipasha fitness collection.
Fitness ‘ The New MantraIt is being marketed my Bipasha itself . Besides this several other companies are introducing newer products. All this speaks volume about how fitness has developed itself into a complete industry. Thus after all this discussion we can conclude that fitness is a new service offered in the market. The industry surrounding fitness is growing at a very fast pace. It may be related to new machines or to new concepts like power yoga . It is definitely not a fad and soon to become a lifestyle of the people .