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Life time fitness

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  • Brittany. Very insightful and well presented powerpoint covering all the aspect of their services and campaign. This is also my first time hearing about Lifetime Fitness. From going through their services, I think I would give up my 24hours fitness membership in a heart beat and join them instead. I believed that by covering all the basic of services and more, Lifetime Fitness is able to continue to grow.

    Christine Yang
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  • Brittany- good presentation. I personally have not heard of Lifetime Fitness so it was nice to see and learn about a new company/. I like their slogan and promotional campaign ’I can do it all in my lifetime’. I think you provided good information and insight into the company and the specific campaign. The pictures and youtube video were good selections to add quality to your presentation. Thank you for sharing.
    SueAnn Wells
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Transcript

  • 1. Life Time Fitness
    By: Brittany Chatterson
    MKTG 6000 – Dr. Kohler
    May 8th , 2011
  • 2. History
    • Bahram Akradi opened the first health club in July of 1992 in Brooklyn, Minnesota.
    • 3. This location sold 2,702 memberships in it’s first year of business.
    • 4. 1998 was the year that FCA, Ltd. officially changed its name to Life Time Fitness, Inc.
    • 5. The company currently operates in 20 states and has 91 exercise and recreation centers.
    • 6. In 1994, the company was reporting $4 million in revenues, which has grown significantly to $912.8 million at the end of 2010.
    • 7. The clubs offer swimming pools, basketball and racquet courts, child care, spas, dining services, climbing walls and 400 pieces of exercise equipment (Hoover’s Company Profiles, para 1).
  • Promotional Campaign
    “I CAN DO IT ALL IN MY LIFETIME”
    http://www.youtube.com/watch?v=okXNRSd_IM8&feature=player_embedded
  • 8. Promotional Campaign Continued….
    • Offers customers many activities that they can do in their life time to keep themselves healthy, motivated, and active all in one location.
    • 9. Fitness program options include; Weight Loss, Group Fitness, Personal Training, Cardio, Strength Training, Yoga, Pilates, Assessments & Testing.
    • 10. Sports activities include; Basketball, Running, Cycling, Swimming, Tennis, Racquetball, Squash, Rock Climbing, Events and Races, Triathlons, and Golf.
  • Promotional Campaign Continued…
    Family activities include; Child Center, Kid’s Fitness, Family Swim and Lessons, Birthdays, and Summer Camps
    Resort activities include; Lifespa and Salon, Lifecafe, Nutrition, and Experience Life Magazine
  • 11. Competition
    Bally Total Fitness
    “FOR PEOPLE WHO LOVE FITNESS AND LIVE A HEALTHY LIFESTYLE”
    Wants customers who are motivated, have fitness goals and are interested in achieving them.
    “And, as the trailblazer in personal training, Bally continues to successfully educate and motivate thousands of members each year to fulfill their personal fitness goals” (Bally Total Fitness Website, para 5).
    Gold’s Gym
    “KNOW YOUR OWN STRENGTH”
    Wants customers to find their inner strength and find their goals.
    “Today more than ever, people are looking for strength. Whether it’s the strength to be a better parent, the strength to overcome diabetes or the strength to be a better athlete- strength comes in many forms” (Gold’s Gym Website, para 6).
  • 12. Competition Continued…
    Life Time Fitness
    • Memberships: 613,000
    • 13. Sales: $912.8M
    • 14. Net Income: $80.7M
    • 15. Fitness Centers: 91
    **All information is based on fiscal year 2010**
    Gold’s Gym and Bally Total Fitness
    Gold’s Gym:
    Memberships: 3.5 Million
    Fitness Centers: 700
    Public Relations: Spent $1 Billion in 2010
    Bally Total Fitness:
    Memberships: 3.5 Million
    Fitness Centers: 270
    Currently under investigation for invalid past due letters mailed to over 11,000 former club members.
    Filed bankruptcy in 2007,2008 and 2009.
  • 16. Life Time Fitness’s Revenue from 2001 -2010
    This revenue performance chart was taken from Life Time Fitness’s 2010 annual report and proves that the marketing and promotional campaigns are working in favor of the company as it has proven to increase their revenue year after year.
  • 17. Marketing- Mix
    Product:
    Memberships
    Nutritious Items, energy drinks and much more at the LifeCafe
    Variety of exercise equipment
    Variety of classes to be a part of
    Variety or activities
    Salon and Spa
    Price:
    Trial membership is Free and allows you to try out the gym before purchasing a membership
    Memberships are approximately $50.00 a month for the Gold Membership and $60.00 a month for the Platinum Membership with a one time enrollment fee.
    Currently Life Time Fitness is offering memberships with a $0.00 enrollment fee.
    Place:
    Operates 91 exercise and recreation centers in 20 states.
    Centers average size are 100,000 square feet.
    Headquartered in Chanhassen, Minnesota
    Promotion:
    Offers a member advantage program in which members can get discounts at businesses that wish to participate, such as hotels, restaurants, clothing stores, etc. An example is Great Clips Imax Theatre is currently offering 1 free admission with a paid admission to Born to Be Wild in 3D. Also, a clothing company called, Mainstream Boutique is offering 25% off any item.
    Offers a MyLTBucks rewards program that allows members to earn dollars and purchase items on the website.
  • 18. Marketing Principles – That have made Life Time Fitness Successful
    Price
    Product
    Promotion
    Place
    Product Differentiation
    Loyalty/Rewards Programs
    Adhering to customers wants, needs and desires
    Reaching Target Markets: Families, young, middle-aged and older people who want to live a healthy lifestyle.
  • 19. References
    Answers.com. Ed Dinger. March 15 2011. Hoover’s Company Profiles. 4 May 2011. http://www.answers.com/topic/life-time-fitness-inc
    “I Can Do It All In My Lifetime”. YouTube, 4 May 2011. Video. 27 Dec. 2010 http://www.youtube.com/watch?v=okXNRSd_IM8&feature=player_embedded.
    The Leader in Fitness. Bally Total Fitness. 4 May 2011 http://www.ballyfitness.com/company.aspx
    Gold’s Story. 2011. Gold’s Gym. 4 May 2011. http://www.goldsgym.com/golds/
    2010 Annual Report- Life Time Fitness. 8 Mar. 2011. Life Time Fitness Inc. 4 May 2011 http://investor.lifetimefitness.com/phoenix.zhtml?c=136737&p=irol-latest