Fluent Essays

Attached documents to assist with assignment The Presentation instructions:  A narrated presentation to the class not to exceed eight (8) minutes in length. You should assume that you are presenting your plan to a potential investor or lender – a professional business audience (think TV’s Shark Tank).  Keys to a successful presentation:    Professionally prepared slides     Presentation skills count – enunciation and correct pronunciation is important     Avoid background noise     Do not read the slides - tell your story     Be prepared for the discussion in Module 8 – your classmates will provide feedback on your presentation Your slides should follow this format and sequence:     Cover slide which includes your name and project     You may have optional slide(s) with pictures or relevant images     Product description with FAB – 2-3 slides     Separate slide for your SMART objectives     SWOT - 4 slides (one each factor)     Segmentation – 3 slides (one each segment)     IMC – will vary, but commonly 3-5 slides     Closing     Reference list - you are required to keep a list of all sources other than the course materials (text, module content, this guide) used to develop your plan. Include these as your final slide. 2 Product Description for Yoga Studio Rosa King Saint Leo University Professor Perry Haan Product Description for Yoga Studio The mindfulness taught in the yoga studio spreads from the mat to a persons life. Yoga naturally cleans up the body system and contributes to the well-being and fitness of people both physically and mentally. Services offered at my Yoga studio motivate people to get into self-care and fitness. The purpose of my Yoga services is to build strength, harmony, and awareness in both the body and mind of a person. Additionally, the Yoga studio is where my clients meet to build human connections, support each other and learn. The trainings, retreats, and workshops I offer at Yoga studio enable people to interact, connect, and share their love and interest for yoga which brings them together thus, creating a community of like-minded people. Experienced yoga instructors at Yoga Studio provide wisdom and knowledge which inspire yoga students to learn philosophical pieces of training. At Yoga Studio, people can focus on strengthening their practice without distractions. My clients are the people who want to make a change in their physical fitness but lack a motivating factor, and therefore, my focus is to offer services that motivate people to take fitness classes. Keeping clients focused and motivated will help me retain them and gain a competitive edge. The Yoga studio services include nutrition, massage therapy, and vitamin IV drips. These services will motivate clients to include yoga in their lifestyles. Good nutrition and yoga can work together to balance body and mind and support a person’s physical and emotional well-being. People with fitness plans can get effective results from yoga practice by eating healthy. Yoga is a physically demanding exercise that requires high energy levels, which is achieved through proper nutrition. A healthy diet includes taking enough vitamins, micronutrients, and minerals. My yoga studio offers nutrition classes to help people become aware of the right nutrition and timings to make a difference in their yoga journey. Massage therapy gives people an opportunity to feel comfortable with their bodies because it reduces stress, improves blood circulation, and boosts the immune system (Snell, 2018, p.7). It improves the overall health of a person enabling them to be happier and more productive. Vitamin IV can be used by people practicing yoga to achieve more mental benefits. Both vitamin Iv and yoga help manage depression, anxiety, stress, increasing concentration, and focus. The crucial design elements in my Yoga Studio include space consideration, acoustics, air quality, circulation, privacy, and ceiling heights. With the Covid-19 pandemic, space consideration is crucial to my yoga studio to enhance the keep distance Covid-19 preventive measure by providing larger classes and wide space between mats. In addition, my studio is wide open, allowing efficient movement of people between spaces. I have combined doors, windows, and fans to ensure an oxygenated and fresh environment through the continued circulation of air. The use of fabric panels for acoustics allows yoga students to concentrate and focus without distractions from noise. The ceiling height of the yoga studio is high enough to allow free circulation of air and enables tall yoga students to stretch their hands far up at any pose. The overall intention of my yoga studio is to motivate people to take fitness classes, and thus, the design of the studio work together with other factors to inspire and attract people. My yoga studio offers discounts and promotions to new clients through free trials. Furthermore, the membership prices are friendly, which gives clients unlimited sessions throughout the year. Product functionality and design My Yoga Studio offers comfort, connection, community, and convenience to clients. The table below highlights the Yoga Studio features and their benefits to clients. Yoga Studio Features Features Benefits Variety Different classes equip one with various forms of fitness Storage Ensures safety of client’s belongings Entry system Provides additional security Parking Clients can park conveniently Shower clients can freshen up after classes Hygiene studio Ensures cleanliness and sanitization of clients WIFI Convenience in browsing Phone charging areas Keeps clients on and connected Lounge Provides room for catching up with friends Ambiance Boosts the mood of clients Boutique I offer yoga mats, apparel, and accessories Towel rental Clients rent towels at low prices PA system Links to the microphone headset of the instructor Kids playground Available to enable caregivers of children to participate in yoga classes References Snell, J. (2018). Namasté Yoga and Massage Therapy (Doctoral dissertation, University of Wyoming. Libraries). 1 Supply Chain Management Rosa King Saint Leo University Professor Perry Haan Supply Chain Management Part one To keep things running smoothly, in supply chain management one has to develop strategies which are likely to respond to the challenges with the sector. Such problems with the supply chain management may be due to consumer demands, additional routes to market, international and national complexity, among other variables. Consumer demands Consumer or the market demand is not always constant or in other words it keeps on changing from time to time. Market demand may go either up or down depending on the customers personal preference, changes in tastes as well as cycle in technology. Thus in this case to be supplied with either coffee or chocolate well by the available suppliers I have to research on what my target market requires more. Getting to know what is required by the potential market will help in looking for the best suppliers of coffee and chocolate basing on the market demand. Supplier location The supplier of the either chocolate or coffee that I need to sell to the potential market may be located in a far place hence calling for supply chain challenges. The challenges may be as a result of high costs due to transporting such raw materials which later will lead to increased operation cost hence high prices of the final product. Charging high prices for the final product will hinder consumers from buying such products hence a challenge. National or international complexities There might exist some complexities either from the foreign states where one imports coffee or chocolate or just from the local market if it is being obtained locally. For the international may be due to the restrictions in importing hence posing a serious challenge in supply chain. On the other hand obtaining such raw materials locally may also pose a challenge to supply chain as the quality may not meet the customers’ expectations and preferences. The most successful goods are those that satisfy the quality, availability, and pricing criteria of consumers. To fulfill such requirements, the underlying supply chain is critical. Part two Supply chain for coffee and chocolate Up stream Midstream Down stream Coffee production from farm Storing Differentiating Transporting from farm Processing Distribution Processing packaging Moving from suppliers Selling to consumers Transporting Selling to the final consumers End user: In this case I will be selling to the end user or in other words directly to consumers. 9 Integrated Marketing Communication Rosa King Saint Leo University Professor Perry Haan Integrated Marketing Communication Executive summary Todays corporate world is fiercely competitive, with technology and creative ideas reigning supreme. Businesses must stay on top of technological advancements in order to stay competitive, and the brewing industry is no different. The brewing business has recently shown a high level of expertise in creating new brew brands to meet the increasing populations needs (Viana A., 2016). The yoga studio company seems to be growing and lucrative on a daily basis; as a result, businesses in this sector must be creative and inventive in order to capitalize on the available potential, particularly in terms of marketing. Because the entrepreneurial culture is continuously expanding, organizations and enterprises must find innovative methods to attract and service their consumers. To guarantee that customers get the finest goods and services, much more attention must be given to the manufacturing process. The yoga studio that I want to open is dedicated to using science to provide high-quality goods to its consumers at a time when the globe is experiencing difficult economic circumstances as a result of the Covid-19 crisis. My yoga studio will do extensive scientific study in order to create new yoga services that are not already available in the community, which the firm plans to introduce after the pandemic or when the economy improves. In order to develop new services and products in my yoga studio that are not already available in the town, the business will enlist the help of a team of scientific experts and other partners to give more information about the other yoga studios in the area. Experts will be required to investigate the most effective mixture for making the finest choice. My suggested yoga studios primary goal is to take a consumer-centric approach to product creation and distribution, as well as to the target demographic. Review of marketing goals and objectives By 2022, increase regular attendance by three times. Determine a baseline for retention and work to improve it. More engagement with local companies and groups, as well as increased name recognition in the community. Theres more of a presence now. Increasing the studios use of technology and social media. Review of current marketing strategy and performance Promotion via social networking sites like Facebook and Instagram, as well as email and a monthly newsletter. There will be no sponsored advertising or networking. Students may take advantage of special offers and discounts throughout the summer. Free class passes are used by 35\% of returning students. Workshops for students who are new to yoga. Posting on online community sites in your area. With frequent marketing and outreach, Id want to become more consistent. The company has been in operation for one year. There is no profit. Word of mouth, foot traffic, and social media are all sources of awareness. The original client bases loyalty helps to bring in new consumers. The broader public, as well as certain neighboring regions, are aware of the situation. Business performance suffers as a result of a lack of time and resources. Review of current and anticipated organizational resources Monetary resources Budget for marketing is now exhausted. Teachers that have been with the studio for a long time are invested and ready to take on tasks. Students are very devoted and have a personal relationship with the company. They are glad to help and will ask if necessary. Surrounded by helpful companies, however there is presently a lack of cooperation. The Chamber of Commerce is an excellent resource for companies and networking, including a list of every company in town. Identifying the differences between yoga studios and local fitness facilities, which are the main rivals. Yoga studios arent near enough to compete in a real sense. Pos-fit is the towns sole yoga studio. At local facilities, were focusing on safety, environmental disparities, and educated and long-practicing teachers vs. inexperienced teachers. Targeted market In order to capture the targeted market there are various things I have to know about the potential customers; a) The current and potential customers White women aged 35 and above, as well as retirees and professionals, make up a quarter of the population. The working class is divided into two groups: pink and white collar. In this sequence, mostly from the town, Independence, and Lees Summit. Younger kids, including high school students, seniors, students with health issues, people of color, and individuals of different nationalities and cultures, who live in the Raytown neighborhood. Students that join the studio and buy class tickets are purchasing influencers and decision makers, although they may confer with their spouses before making the purchase for budgetary reasons. b) The need of the customers Benefits offered for customers requirements include health, well-being, stress reduction, balance, emotional, community, and increased understanding in general education about yoga. Short-term sickness, work and schedule changes, vacations and holidays, the start and end of school years, relocation, and personal discipline in practice are all factors that affect service purchasing choices. Maintaining a yogic atmosphere in terms of cleanliness, natural vs. chemical items, and no shoes in the studio are all important considerations. c) How do the customers select yoga studio services One of the most appealing features of Pos-fits class packages is the considerable price difference between it and other yoga studios in the area. This provides a comfortable pricing range for the local population, allowing them to concentrate on their well-being rather of looking for or traveling elsewhere. In comparison to the number of new clients, there is now a greater retention rate. While we would want to shift the emphasis to prospective clients, it is clear that our students have significant brand loyalty to the studio, with many of them refusing to take courses at other schools. d) Why do potential customers fail to purchase yoga studio services The biggest issue right now is that non-customers either arent aware that a yoga studio exists in their area, or they are hesitant, if not outright frightened, to join because of their beliefs. Yoga is still often misunderstood as a religion, and many people are afraid it will conflict with their faith. Because they are already acquainted with the YMCAs aerobics, Zumba, and boot camp programs, they feel safer and more at ease attending them. While the studios price is targeted at the local community, it has been under-marketed in many ways. 1. Direct communication to particular parts of the community, such as a. persons of color and b. individuals who are new with yoga practice and may be afraid of it. 2. The proprietor does not have enough time to develop and implement these campaigns. Converting these non-clients into regular, loyal consumers will determine whether Pos-fit succeeds or fails. We need to find a method to ease them into the yoga world since this untapped population is reluctant. Product description Yoga studios have exploded in popularity and size. Yoga studios may be found all over the globe. My yoga studios will provide lessons that assist people improve their fitness, flexibility, and overall health while also reducing tension, frustration, and worry. The courses will also aid in the reduction of blood pressure and sleeplessness. Yoga helps to bring the mind and body into harmony. Although there may be some drawbacks to establishing a Yoga studio, I believe there are much more benefits. Yoga has so many advantages, and Id want to expand the number of people who may benefit from it. There will be classes for each and every one of the courses. Babies, children, adolescents, expectant mothers, and athletes will all be able to participate in courses. The courses will assist you in decreasing pain, increasing flexibility, strengthening muscles, losing weight, and boosting circulation, among other things. Im planning to post an ad for a yoga instructor. During the interview process, I want to discover someone who is not just interested in the position because of the money, but also because they like the art of teaching yoga. To begin, I want to rent an office and hold some sessions outdoors to see how things go. The goal is to create a tranquil atmosphere where individuals may unwind. Strategic focus The marketing plans overarching strategic emphasis is on specialized marketing activities in order to raise awareness among a larger proportion of the Raytown population. This group includes those who are new to yoga and are ignorant of the studios presence, as well as persons from lower socioeconomic backgrounds, people of color, and people of various ages and fitness levels. More awareness would be raised via promotional initiatives such as improved signage, local newspaper and radio advertisements, email campaigns, and social media. Creating events with nearby companies, being physically at the studio during quiet hours to take advantage of foot traffic, seminars, and many other activities to raise awareness will all be part of the marketing strategy. Integrated marketing communication strategy IMC objective: To raise knowledge of Pos-fits presence, as well as understanding of what a yoga practice is, among potential consumers in the town, and to encourage new students to buy class packages. IMC strategy: This approach will be determined by the target audience that the studio want to reach. A promotional strategy/discount will be introduced for elderly people. An informational/promotional approach will be developed for the niche that is ignorant of the yoga facility or what yoga really involves. Promotions will be centered on the concept that yoga is appropriate for everyone, and the welcoming, non-judgmental atmosphere of the class will be emphasized for those on the lower end of athletic ability. IMC budget: the promotional budget will be $1,000. Advertising strategy Increase awareness of Pos-fit by using local newspapers/online, local community blogs, and local radio/podcast spots to target each sub-segment. Outdoor branded signage featuring class, website, and social media information based on a local billboard ad. Public relation strategy Connect with locals, especially bloggers and/or people who live a healthy lifestyle, and give them free courses so that they may publicly share their experience. Create incentives for existing and prospective students to share their pictures and experiences of Pos-fit on social media by tagging Pos-fit in their posts. Advertisements - use an emotional pull approach to acquire new consumers by focusing on the narrative rather than simply the offer. Local Business Collaborations - network with well-known local companies to see how you can collaborate and promote each others websites and social media accounts. Pull marketing strategy To raise awareness and demand, incentivize word-of-mouth referrals. Continually maintain client relationships by using instructor/class pictures and videos to pique interest and promoting it on social media. Sponsor local events, organizations, companies, and so on. Ask questions on social media to encourage contact with followers and to allow them to ask inquiries or voice issues. Monthly newsletters, promotions, class information, instructional material, resources, and other email campaigns. Push marketing strategy Rent a booth at a local event to hand out promotional and informative marketing materials and network with other local companies. Direct sales to members of the local community. Collaborate with local businesses to promote Pos-fits events and services. Displays at the point of sale, as well as online class purchases with a discount. Reference Viana, N.A., 2016. Digital wine marketing: Social media marketing for the wine industry. In BIO Web of Conferences (Vol. 7, p. 03011). EDP Sciences. 2 SWOT ANALYSIS for Yoga Studio Rosa King Saint Leo University Professor Perry Haan SWOT ANALYSIS for Yoga Studio My selected business plan for SWOT analysis is Yoga studio. This yoga studio focuses on disciplines that integrate and develops the mind, body, and spirit. The benefits of yoga are tremendous, and some people incorporate it into their daily routines. Some benefits include reducing stress, anxiety, inflammation, depression, chronic pain, and improving heart health and the quality of life as a whole. In addition, yoga incorporates breathing and meditation providing people with a comprehensive sense of wellbeing and recuperating from sickness (Kumaran et al., 2020). Thus, my yoga studio will enable people to be active internally and externally to improve the quality of their lives and also enhance income generation. INTERNAL Strengths Weaknesses Very high-profit margins Insufficient marketing techniques Limited competition in the area Rivals can offer similar services easily Properly designed business system Lack of professional branding Qualified, knowledgeable, and reputable instructors High maintenance costs Affordable Client complaints EXTERNAL Opportunities Threats Many people practice yoga Regulation changes can affect the business Expansion for online classes Major competitors already offer yoga services People get attracted by reduced membership costs and discounts Gymnasium machines make people lazy to take yoga classes Opportunities to advertise in other businesses Individuals can do yoga without an instructor Availability of renting space in strategic places The preferred time for yoga is early morning, and some people will find it difficult to wake up After the SWOT analysis, I have identified areas that require an action plan. The main strength of my yoga studio is having qualified, knowledgeable and reputable instructors. Yoga trainers should have a formal qualification and be well equipped with knowledge about yoga, including philosophy, history, and styles. Instructors should also know the requirements associated with yoga practice, the benefits, and the intentions. Moreover, they should be able to techniques and postures to suit the student with the growing demand for yoga and an increasing number of students; trainers need to offer quality services through guiding and training students safely. Thus, I will ensure that the already qualified trainers attend regular training and workshops to be more equipped, learn and put up with yoga styles and trends. Insufficient marketing techniques are a weakness that requires action plans. Marketing strategies create the link between a businesss strategic direction and result delivery. It connects everything by ensuring that the right activities take place, at the specified time, to the target audience and using the right channels. Good marketing strategies ensure focus, proper resource allocation, consistency, clarity, and increased profit margins. To overcome this weakness, I will set marketing goals, conduct an audit, do market research and analysis, identify the target market, estimate the budget and develop marketing strategies. Consequently, I will be able to develop more marketing strategies like creating a website and the use of consistent social media marketing. According to Mutafungwa (2019), marketing in social media is cost-effective, increases customer and brand awareness, and creates huge traffic. The crucial growth opportunity for my yoga studio is attracting more people through reduced membership costs and discounts. Discount initiatives make customers feel positive about a business, enabling them to choose the business over the competitors, leading to new customers and increased sales volume. However, a business should set considerable discounts that would enable them to make profits. Developing more discount strategies like seasonal discounts, special offers, and value-added offers can help attract new customers, bring inactive clients back and increase sales. The major threat to my business is that major competitors already offer yoga services. Therefore, my business plan is already implemented by other people who already have a market share. However, proper market penetration techniques can help me gain a market share and opportunities for growth. The aim is to overtake competitors already offering yoga services through establishing a different market segment and acquiring customers being served by competitors. Lowering prices is one of the strategies that I will use to generate demand for my services, although competitors could be offering services at low prices, and further lowering of my prices to outmatch competition would be unrealistic, leading to zero profits. Minimizing this threat will be challenging; however, I will try and carve a niche for my business instead of beating competitors prices. References Kumaran, S. S., Vallimurugan, V., & Kodeeswaran, N. (2020). PART OF YOGA FOR STRESS MANAGEMENT AND HEALTHY LIVING: A SHORT VIEW. Mutafungwa, R. (2019). Importance of good skills and strategies when marketing a business through social media networks. 1 1 1 Business Segmentation for Yoga Studio Rosa King Saint Leo University Professor Perry Haan Segmentation for Yoga Studio My Yoga studio focuses on disciplines that integrate and develop body, mind, and spirit. Yoga is practiced by various individuals because of its various benefits like reduction in depression, anxiety, chronic pain, inflammation and also offers other multiple health benefits. This Yoga studio will target two broad segments; Generation Y also called Millennials and Generation X. Generation Y (Millennials) Millennials are a generation of people born between the early 1980s and 1990s. These are individuals aged between 25 years and 40 years. Generation Y individuals are born in the age of technological boom and are therefore insanely active on various social media platforms, are up to date with new trends, possess the latest technology, and are fitness-minded (Kurz, Li & Vine, 2019). Millennials have varied fitness goals like being strong and tries to fix exercise in their routines. Besides, they unlike repetitive experiences and thus prefers workouts that are intense, effective, and short. This group of individuals are educated and understands the value of yoga, hold middle professional positions and earn middle-level income. Demographics for Millennials Age-Millennials are individuals born between the early 1980s and late 1990s thus are aged between the age of 25 and 40 years. Professional status- Millennials contribute the largest portion of the labor force in the US (Kurz, Li & Vine, 2019). They also are the largest number of staff in the organization and hold middle professional jobs or positions. Income level-Generation Y individuals are considered middle-income level individuals. Education-Millennials are more educated than their predecessors are hold college degrees. Psychographics for Millennials Millennials are technologically savvy individuals since they are born in the period of the technological boom (Moreno et al., 2017) They are on all social media platforms, have all the latest technology, and keep up with the advancement and changes in technology. Generation Y individuals are also focused on making a difference on every level like socially, economically, or professionally. They are committed to finding solutions that fit the present situation. They have achievement-oriented, focused, and ambitious. They have the desire to a specific goal and keep focused on goal achievement. They have a drive and passion to excel and succeed. Millennials also dislike repetitive and long activities. They prefer short, intense, and effective operations or activities. Generation X The second segment that Yoga Studio will target is the generation X individuals. These are individuals born between the mid-1960s and late 1970s. Generation X individuals are roughly between the age of 41 and 56 years (Kane, 2019). These individuals spend the most and are health conscious. They have a strong desire to take care of themselves as they approach middle age. They are often looking for effective fitness classes, quality fitness apparel, and weight loss solutions. Generation X individuals hold a large percentage of leadership positions in the organization and are managers. They are middle to high-income earners and are educated. Demographic for Generation X Age-Generation X are individuals born between the mid-1960 and late 1970s, therefore, they range between 41 and 56 years. Professional status- Generation X contributes more than half of leadership positions in the organization and holds senior positions. They shape the current workforce in organizations. Income level-they are middle to high-income earners. The average income level of Generation X individuals is higher than Millennials. However, they also spend more of their income. Education level-Generation X are educated individuals. They are high school graduates and bachelors degree holders. Psychographics for Generation X Generation X individuals are self-sufficient, individualistic, and resourceful (Kane, 2019). This is because they have been accustomed to taking care of themselves. They value responsibility and freedom ad strive to overcome problems of their own. Generation X individuals also place more value on finding a comfortable and stable work-life balance. This is the equilibrium between career and personal life. They aim to have social life besides work, spend time with family and connect with other people. They are also more skeptical as they grew up in a changing world both culturally, economically, technologically, and politically. This leads them to avoid taking things for granted. Generation X individuals are health conscious as they are approaching middle age. They are concerned about their fitness, weight, and overall health. Summary Chart Items Millennials (Generation Y) Generation X Age 25-40 41-56 Professional status Middle professional positions or jobs Senior professional jobs and position Income level Middle-income level Middle to high-income level Education level College or bachelor degree holders High school graduate and bachelor degree holders Psychographics Technologically savvy self-sufficient, individualistic, and resourceful. Focused on making a difference on every level places more value on finding a comfortable and stable work-life balance. Dislike repetitive and long activities or operations health-conscious Achievement-oriented, focused, and ambitious More skeptical References Kane, S. (2019). The common characteristics of Generation X professionals. The Balance Careers. Kurz, C. J., Li, G., & Vine, D. J. (2019). Are millennials different?. In Handbook of US consumer economics (pp. 193-232). Academic Press. https://doi.org/10.1016/B978-0-12-813524-2.00008-1. Moreno, F. M., Lafuente, J. G., Carreón, F. Á., & Moreno, S. M. (2017). The characterization of the millennials and their buying behavior. International Journal of Marketing Studies, 9(5), 135-144. http://doi.org/10.5539/ijms.v9n5p135.