MBA 620 Week 7 Assignment - Camila Fernandes Bento
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Transcript of MBA 620 Week 7 Assignment - Camila Fernandes Bento
• Life Time – My Big Ticket Purchase…………....………….……….………………………….….…03
• Life Time – Service Statement…...……………….………………..….…….…...……………….…04
• Life Time – How They Caught Me?..…………………………………..……………………….……05
• Life Time – 10 Reasons……………..………………………………….……………………….……06
• Conclusion……………………………………………………………………………………………..14
• References…………………………………………………....……………………………..…..…….15
SUMMARY
LIFE TIME – MY BIG TICKET PURCHASE
Life Time is more than a regular gym, it is an athletic club located at Yamato Road,
Boca Raton, FL. I use this service regularly and consider this gym a “fixed” big ticket
purchase. The membership of this club costs $139 monthly, plus $99 for the initial
registration. If you compare the price of other gyms in Boca Raton, you will easily notice
the difference on value. But Life Time is worth every penny!
LIFE TIME – SERVICE STATEMENT
Life Time is a privately held, comprehensive health and lifestyle company that
offers a personalized and scientific approach to long-term health and wellness.
Through its portfolio of distinctive resort-like destinations, athletic events and
corporate health services. (…) In addition to traditional health club offerings, most
Life Time fitness centers include an expansive selection of premium amenities and
services in a resort-like setting. Amenities include indoor and outdoor swimming
pools, basketball and racquet courts, personal training and group fitness
programming, child care centers, cafes and spas. (Life Time, 2016)
LIFE TIME – HOW THEY CAUGHT ME?
01. Word-of-Mouth
02. My First Impression
03. Personal Selling
04. Group Classes
05. High-End Service
06. Unique
07. Luxury Club
08. Membership Benefits
09. Life Time Apps
10. Life Time – Marketing Communication Strategy
Find bellow 10 reasons why I feel motivated in paying every month this “big ticket purchase”, to be
explained later each of them:
LIFE TIME – 10 REASONS…
1. Word-of-Mouth: A neighbor told me about this gym. The way he spoke intrigued me,
so I decided to know it.
Word-of-mouth communication once was a well-kept marketing secret, but it has
became a marketing platform in its own right. Most people prefer to do business with
people they know, like and trust. Therein lies the power of word-of-mouth advertising.
As you develop a reliable product or a reputation for serving people well, you will
enjoy the benefit of increased referrals and testimonials. (Anselmo, 2010, p. 176)
“Consumers use word-of-mouth to talk about dozens of brands each day, from media
and entertainment products such as movies, TV shows, and publications to food
products, travel services, and retail stores”. (Louise, 2006)
LIFE TIME – 10 REASONS…
2. My First Impression: After receiving tips from my neighbor, I decided to visit this
gym. It was my first contact with my future big ticket purchase. I was referred to talk to
the Member Engagement Manager, and my first impression was very good.
Marketing communications today increasingly occur as a dialogue between the
company and its customers. Companies must ask not only “How should we reach
our customers?” but also “How should our customers reach us?” and “How our
customers reach each other?” (Kotler & Keller, 2012, p. 261 )
LIFE TIME – 10 REASONS…
3. Personal Selling: The membership manager did an excellent job. He explained me
everything, showed me the gym, spa, coffee and beauty shop, and all facilities included.
Salespeople are the company’s personal link to its customers. In designing the sales
force, the company must develop sales force objectives, strategy, structure, size,
and compensation. (…) Effective salespeople require more than instinct; they must
be trained in methods of analysis and customer management so they become active
order getters, not passive order takers. (Kotler & Keller, 2012, p. 268)
4. Group Classes: I was tired of working out by myself at my condo’s gym. I needed a
new motivation and group classes would be perfect. Life Time offers a variety of group
classes that you can check online; which schedule is updated every week.
5. High-End Service: Selecting effective professionals
is the heart of any successful company. When these
professionals are the center of your service, you have
the best possible offer to your clients. Life Time has
certified fitness professionals to support the health and
fitness goals and aspirations of its members. These
professionals are the daily image of the gym.
LIFE TIME – 10 REASONS…
6. Unique: Life Time is a unique gym in this neighborhood. Their strategy is to offer high
quality service for their target market. More like a resort than a gym, Life Time offers
luxurious environment where everything is top notch.
7. Luxury Club: Life Time offers spa, coffee and beauty services; also
they promote a variety of events and entertainments for their members.
When you walk-in to this club you can see these services ads everywhere.
They have displays ads, catalogs, magazines, coupons, testimonials,
press release, banners ads, social media and websites that provide all
information about their services. In addition, they constantly create events
and entertainments to engage their members. Life Time’s professionals
have the role to communicate them.
LIFE TIME – 10 REASONS…
Travel hold price: They developed small initiatives that created huge value for their
customers. When you are travelling, for instance, instead of paying the full amount, you
will pay $10/month to lock and maintain your membership.
“LTBuck$”: They created Life Time dollars to use on any service or products in the
health store. You receive “LTBuck$” monthly and at the time you enrolled. It is a nice
loyalty strategy. Thus, they stimulate members’ behavior, motivating them to purchase
their services and products.
8. Membership Benefits:
12 Visitors Passes/year: They give these passes to every member. This is an
interesting marketing trial. As a member, you can invite your spouse and friends to work
out with you. Life Time can reach the right consumer in the right place with this strategy!
LIFE TIME – 10 REASONS…
9. Life Time Apps: Customers can access all their membership benefits in one place.
They can browse class schedules and add them to their personal calendar. As well,
members may watch workout videos, view exclusive offers, and check events updated.
“New technologies have encouraged companies to move from mass communication
to more targeted, personalize two-way communications”. (Kotler & Keller, 2012, p. 261)
LIFE TIME – 10 REASONS…
10. Life Time – Marketing Communication Strategy: The way I see it, Life Time has
been creating marketing communication process through the “Innovation -Adoption
Model”. Their goal is making their target audience pass over cognitive, affective, and
behavioral stages. Where, at the end, their audience can try Life Time services for 2
weeks or money back guaranteed.
LIFE TIME – 10 REASONS…
STAGESAIDA
ModelHierarchy-of-Effects Model
Innovation-Adoption Model
Communications Model
Cognitive Attention
Awareness
Knowledge
Awareness
Exposure
Reception
Cognitive response
AffectiveInterest
Desire
Linking
Preference
Conviction
Interest
Evaluation
Attitude
Intention
Behavior Action PurchaseTrial
AdoptionBehavior
(Kotler & Keller, 2012, p. 231)
As far as I could know Life Time, they are making a great job, differentiate and create value
for their service. Their marketing communication strategy provide clarity, consistency, and all the
employees send the same message to their customer. They deliver exactly what they sell. They
create customer value, satisfaction and loyalty. I am delighted with my “fixed big ticket purchase”.
CONCLUSION
REFERENCES
Anselmo, D. (2010). Marketing Demystified. McGraw-Hill Companies, Inc., US.
Life Time. Retrieved February 20, 2016, from https://www.lifetimefitness.com/en.html
Louise, A. (2006). What We Talk About When We Talk About Brands. New York Times.
Kotler, P. & Keller, K. L. (2012). A Framework for Marketing Management (fifth edition).
Pearson Education, Inc., Upper Saddle River, NJ: Pearson Prentice Hall.