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Example research essay topic: Break Even Analysis Wellness Program - 891 words

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... s potential customers include all businesses that offer their employees some type of medical benefits, are experiencing escalating health care costs, and wish to more effectively manage their costs. Corporate Fitness, however, segments its services for individual organizations. Corporate Fitness will work with senior management to develop mission statements and provide incentive plans, and with employees to design personalized health and fitness programs.

The targeted customers are corporate employees and manufacturing employees. Corporate Fitness will position themselves as the most effective wellness strategy and program developer. The positioning will be supported by statistics indicating an increase in worker productivity and a decrease in business operation expenses resulting from the implementation of corporate wellness programs. The single objective is to position CF as the most proficient wellness program provider in the state of MS. The marketing strategy will seek to develop customer awareness regarding the services offered, develop the customer base, and work toward building customer loyalty. The message that CF seeks to announce is that they can have a dramatic effect on the bottom line.

This message will be communicated through various methods. The first method will be the production and disbursement of printed materials. The printed materials will describe all of the services offered and will give prospective customers some insight into CF's past successes. CF will also rely on presentations to company's HR departments. These presentations will allow CF to personally address any concerns or "pains" that companies have and indicate how a wellness program strategy can help their needs. Corporate Fitness' marketing mix is comprised of the following approaches to pricing, distribution, advertising and promotion, and customer service.

o Pricing - Prices for using CF's services are comparable to those of higher-end fitness centers. An employee choosing to utilize a Corporate Fitness center will pay a $ 100 monthly fee. For each employee enrolled in the general wellness program, regardless of whether or not they use the fitness facility, the employer will pay $ 150 annually. The prices will encompass the quality of equipment and service. o Distribution - This will occur both at the company's worksite as well as at CF's facilities.

o Advertising and Promotion - Printed material, presentations, advertising in industry specific magazines, and a complete website will be used. o Customer Service - Corporate Fitness will operate on the principle that it is imperative to achieve total customer satisfaction if the business is going to succeed. For our action plans, Aaron Edward and Maurice Maharaj will share the responsibility for the marketing activities. Two types of marketing research were used when CF was collecting market research. The first type of research was focus groups. The focus groups were collections of seven to nine people who were asked a series of questions with the responses recorded and discussed among the group members.

In addition to the questions, there was a free-flow discussion format toward the end of the focus group that provided flexibility in allowing the participants to share information and insight with CF. Additionally; questionnaires were used to collect market information from perspective customers. The questionnaires were submitted to a total of 100 HR professionals. The response rate was 43, higher than expected especially for the state of MS.

Overall, both forms of primary market research were insightful. This research confirmed many assumptions as well as introduced several valuable perspectives that CF was not privy to. The marketing expense will be high during the first quarter of operation because of the increased usage of fitness facilities. The expenses will settle a bit during the second and third quarter. The expenses will rise during the fourth quarter, the quarter when HR budgets are typically reviewed.

The marketing expense budget was as follows: 2004 2005 2006 Pamphlet Production 1, 000 1, 200 1, 400 Website maint / prod 9, 200 8, 000 8, 000 Other 9, 300 12, 000 14, 000 Total sales / marketing 19, 500 21, 200 23, 400 Expenses Our budgeting will offer a financial overview of Corporate Fitness as it relates to the marketing activities. CF will address Break-Even Analysis, sales forecasts, expense forecasts, and how they link to the marketing strategy. The break-even analysis indicates that $ 16, 667 will be needed to reach the break even point. The monthly units' break-even is 1, 667 which make the month revenue break-even of $ 16, 667.

This is under the assumption that the average per-unit revenue is $ 10. 00, the average per-unit variable cost is $ 4. 00 and the estimated monthly fixed cost is $ 10, 000. The expense forecast will be used as a tool to keep the department on target and provide indicators when modification of corrections is needed for implementation and maintenance of the market plan. The purpose of Corporate Fitness' marketing plan is to serve as a guide for the organization. The following areas will be monitored to gauge performance: o Revenue - monthly and annually o Expenses - monthly and annually o Customer Satisfaction o Wellness program effectiveness within each company The following milestones of Marketing Plan Completion, Pamphlet Completion, Website Completion, and Advertising identify the key marketing plan programs.

It is important to accomplish each one on time and on budget. Some worst case risks include determining that the business can no longer support itself, and having to liquidate equipment to cover liabilities.


Free research essays on topics related to: marketing plan, focus groups, break even analysis, marketing strategy, wellness program

Research essay sample on Break Even Analysis Wellness Program

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