• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
Impact Of Technology On Fitness Industry - IHRSA 2010
 

Impact Of Technology On Fitness Industry - IHRSA 2010

on

  • 783 views

 

Statistics

Views

Total Views
783
Views on SlideShare
783
Embed Views
0

Actions

Likes
0
Downloads
6
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Impact Of Technology On Fitness Industry - IHRSA 2010 Impact Of Technology On Fitness Industry - IHRSA 2010 Presentation Transcript

    • Technological Innovation andthe Fitness & Wellness Industry: Predicting the Impact Bryan K. O’Rourke, MBA
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact all content available @
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impactbefore we start a word from seth myers
    • Thanks Technology Seth Myers
    • broad
    • 4
    • Key Trends
    • Biz Models
    • Innovation
    • Predictions: Consumers & Facilities
    • “change is the process by whichthe future invades our lives”Alvin Toffler
    • think different
    • No Crystal Ball
    • Different
    • <3> demography technology globalism revolution convergence & divergence
    • 1st key technology trends
    • technology - what has it &how will it impact our lives & industry ?
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the ImpactTechnology: etymology greek - meaning skillfulapplication of an art. The practical application ofscience in commerce or industry.
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact Gordon Moore Co-Founder of Intel Number of transistors on a chip will double every two years. “Moore’s Law”Technology: the pace of change is not linear itsexponential. Adoption rate is increasingsimilarly.
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the ImpactLaw of accelerating returns . We are just seeing the start - “knee of the curve”
    • 1,2,3,4,5,6,7,8,9,10....... 2, 4, 16, 256............
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact -Commercial Internet began only 5,300 days ago -Serves over 1.5 Billion people -79% of US adult population -40% of US consumers use search engines for comparative shoppingInternet: The free exchange of information withlimited constraints.
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the ImpactThe “Grid” Becoming Increasingly Integrated
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact The ability to increasingly and more easily integrate technology into daily life is upon us.Devices - getting smaller and more powerful.
    • 15 Billion by 2015
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact Mobile Internet Access: Pew - 56% of US Adults Increase of 73% in 17 monthsMobility: Communication & information whenever and where ever the customer wants it.
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the ImpactMobile speeds will increase ...........
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact Web 3.0 the “Semantic” WebInternet will become more intelligent ...........
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact Outsourced Service Platforms Salesforce.comCloud Computing: Low cost ubiquitous storageand application deployment !
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impactexplosion of interactive tools & platforms
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
    • Merger of emotiv Physical & Digitalnatal
    • key trends connectivity digital reality miniaturization new products & services intelligence web 2.0 & 3.0 cloud computing low cost
    • 2
    • Biz Models
    • business model INDUSTRY SUPPLIER PARTNER CUSTOMER NETWORK RELATIONSHIPS CORE VALUE CUSTOMER CAPABILITIES PROPOSITION SEGMENTS ACTIVITY DISTRIBUTION CONFIGURATION CHANNELS COST REVENUE STRUCTURE STREAMS DEMAND CUSTOMER
    • "companies thatexpect a glorious past to shield them from theforces of change driven by advancing technology will fail."- Rupert Murdoch
    • 2009 U.S. Revenues (in billions $)300.0225.0150.0 75.0 0 206 20 Fitness Facilities 21 40 Video Games OTC Diet Retail Pharma
    • 2009 U.S. Market (US health care $2.6 trillion) 1% 99%Fitness Facilities Health Care
    • 17%
    • U.S. Fitness Facility Market statistics from www.cmeto.com 46%
    • Market EvolutionLow Price & Limited Features High Price & Full Features “Membership” Model Pricing Has Declined
    • PRIZMConsumers66 Groups
    • IHRSA 2009 comparative US industry data7 groups account for 75% of US club membersIncome / Price is a KEY Barrier
    • "It may be fatal to assume that minor adjustmentsto current business models will keep the fitnessindustry abreast of changing times."http://futureoffitnesswhitepaper.ning.com/
    • DemandIndustry Convergence
    • supply side Li & Fung Group clothing
    • movie theaters arcades record stores
    • Economics of Free
    • business model - new models needed INDUSTRY SUPPLIER PARTNER CUSTOMER NETWORK RELATIONSHIPS CORE VALUE CUSTOMER CAPABILITIES PROPOSITION SEGMENTS ACTIVITY DISTRIBUTION CONFIGURATION CHANNELS COST REVENUE STRUCTURE STREAMS DEMAND CUSTOMERdigital technologies
    • 3
    • Innovation
    • “those whocannot change their mindscannot change anything”George Bernard Shaw
    • How Organizations Create Value
    • business model - what is technology doing ? INDUSTRY SUPPLIER PARTNER NETWORK CUSTOMER RELATIONSHIPS + CORE VALUE CUSTOMER CAPABILITIES PROPOSITION SEGMENTS ACTIVITY DISTRIBUTION CONFIGURATION CHANNELS COST REVENUE STRUCTURE STREAMS _ DEMAND - CUSTOMER
    • sustaining
    • disruptive
    • consumer centric
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact Empowered Consumers It’s all about the “You”
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the ImpactTo Deliver Value Organizations Used To ...... Product - Build fences, own it all Price - Competition, supply - demand Place - Physical distribution Promotion - Sell, sell, sell ....Legacy of the Industrial Revolution
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the ImpactTo Deliver Value Organizations Must Now...... Product = Experience, Co-Created Price = New Value Exchanges Place = Marriage of Digital & Physical 24/7 Promotion = Conversation or Engagement .... A New Way of Doing Things
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact C.K. Prahalad “World’s Most Influential Management Thinker” -Times of London 2007 “To successfully compete companies must reinvent their process & culture in order to sustain innovative solutions.”
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
    • N=1
    • R=G
    • orchestration
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the ImpactInnovation = Value Creation
    • customer focusU’s Together =Community Centric
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impactsocial media = new business models
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
    • To Innovate: Change HowOrganizations Work
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the ImpactNew Methods, Roles & Models to Compete Integral Part of Organizational Capability
    • 4
    • What’s Ahead predictions
    • 1. non-facilitycompetition will surge
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the ImpactMerger of Technologies Including Social Media Will Create New Low Price Alternatives
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact Nike Running
    • OutsideIndustry Convergence
    • 2. successful facilitycompetitors will deliver new models
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the ImpactProduct = Experience, Co-CreatedPrice = New Value ExchangesPlace = Marriage of Digital & Physical 24/7Promotion = Conversation orEngagement .... A New Way of Doing Things
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact Hi-Tech Hi-Touch
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact Financial Services Industry Measure is not # of Bank Branches
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact24/7 Service & Support
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the ImpactAdoption of Social Media Best Practices
    • 3. “wellness” willincreasingly emerge
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the ImpactThe Crisis...23% of Americans participate in no physical activity62% of Americans obese or overweight -18% rise in last decade.23% of Americans still smoke. 3000 start each day.78% of men eat vegetables less than three times per day.75% - 90% of visits to Primary Care Physicians are for stress.THE COST IS BANKRUPTING OUR NATION
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the ImpactHead - Traditional Fitness Industry Long Tail - New Wellness Space
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
    • Technological Innovation and the Fitness & Wellness Industry: Predicting the Impact
    • Finally
    • “The greatest obstacle toprogress is not ignorance. It’s the Illusion of knowledge. “-Daniel Boorstin
    • "Of the ten leadingvacuum tubecompanies, noneparticipated in thetransistorrevolution".–Chet Raymo
    • is up to us......
    • think different
    • Technological Innovation andthe Fitness & Wellness Industry: Predicting the Impact THANK YOU