Introduction To Marketing Assignment 1 PDF

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Fariba Shirzad The BodyBoss is an online fitness training and nutrition coaching which offers a product that takes all the concepts for the gym and combines them in one solution (Caprito 2020).This product hold many new features which will allow many individuals to reach their goals easily, workout more consistently and perform any gym exercise they want anywhere. Our research outlines the advantages and disadvantages of analysing macro environments, or this product will be recognized as well as any probable threats or opportunities. Our strong liable business can be ensured by seeking the right strategies. “The macro environment encompasses factors that are outside a firm's control that have influence over companies and economics including political, social, economic,demography,technology and natural forces”(Sharp 2017). This report represents the key factors that will influence a business from outside the company's authority which allows the business to be understandable for the environment and any problems that come in it. Firstly, the political environment is the government regulation which influences the performance of a business in positive and negative ways. As an example Covid-19 restriction has a negative impact on people's health. “It leads to an increase in domestic violence, triggers or strengthens mental health issues, or affects the capacity to provide care for other medical conditions”(Holsten 2020).These statements from health professionals only focus on one issue which is limiting the spread of the virus. Although, they have to take into account the side-effects of public health measures and other interests at stake," says Antoine de Bengy Puyvallée,(Holsten 2020). However with the body boss 2.0 there is no law in Australia that bans this product from being harmful for using it. Fortunately Australia has a strong political environment for businesses that sells goods and services “robust regulatory system noted for its stable institutional frameworks and strong finance and banking regulations”(Australia Trade 2020). Economic environment is the factors in the economy, such as inflation, unemployment, interest rates, etc that influence the buying decisions of consumers and organisations(Monash University 2020). It is important to understand the economic environment as it shows that the organisation is prosperous.The latest

Gross domestic product (GDP) figures which is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period(Chappelow 2020), shows that in the first three months of this (2020) year, Australia's economy shrank for the first time in nine years. However, with GDP slowly decreasing this will affect the exchange rate where the Australian dollar is not worth as much it used to be in 2019 where $1dollar is AUD=1.44(Exchange rate 2020). This demonstrates that BodyBoss 2.0 exchange

rate will increase leading customers from not buying it to purchasing the product they really need.

The culture Environment encompasses all those factors that affect the social morals, values, perceptions and behaviors of a given society and its members(Sharp,2017). For our business to be long lasting it is important to understand and review the culture values and standards of the society. Statistics show that around 30% of Australians have a gym membership(Physical activity,2019). This will represent that the rest 70% of the population may be interested in using our product. Moreover this will bring advantages to the sale to our product. The remainder of the people do not contribute or affect the business a lot. Market research is a significant section in understanding the changes and trends of the society. Our technology is rapidly changing itself and affecting society is in some ways now taken for granted. The BodyBoss2.0 is a new innovation that combines all the equipment in the gym allowing people to use it in their daily life anywhere at any time. Demography is the study of population in terms of size and charecteristic (Sharp,2017). This environment is the key concern to marketers as it encompases the majority trends in the size and the shape of the population. With the Bodyboss any ages from 11 years old can use and makes your workouts customized to customer preference.

Overall completing the analyses examines the macro environment. We were allowed to understand the factors that may influence BodyBoss2.0. Our research about the external elements of social culture, economic, political, technology, demography and natural force allows us to establish the strength and weakness of the product, which guide to the evolution of potential contextual and threat.          

   References:  Amanda Capprito 2020, The BodyBoss Method: Safety, Effectiveness, Types of Workouts , Viewed on 25 March 2020,

 Exchange rate 2020, US Dollar to Australian Dollar Spot Exchange Rates for 2019, v iewed on 27th august 2020,

 Australian Trade and Investment Commission 2020, Business, v iewed on 2020, Market research report 2019 , Gym and fitness center in Australia, v iewed on 15 Nov 2020,

 Monash University 2020, Economic Environment, <  https://www.monash.edu/business/marketing/marketing-dictionary/e/economic -environment>

 Hide Holsten 2020,‘The politics behind the COVID-19 responses’, viewed on 2020,

 Jim Chappelow 2020, Gross Domestic product,viewed on 1 jun 2020,< https://www.investopedia.com/terms/g/gdp.asp>

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