Industry Definition for Fitness Industry in Australia
The fitness industry can be categorized into four fields which are fitness sites, fitness goods, fitness media and fitness services. These field elements do not work in isolation but in cooperation and competition. Hence, there are arrows interconnecting the various field nodes.
2.0 DENT-PC Analysis
|Marco Force |Trend |Industry Impact |Opp or Treat | |Demographic |Age: Teens and early twenties participate actively in |Mid-aged customers are aware of the |Opportunity | | |organized sports. Middle-aged are aware of health and |importance of health so it is likely to| | | |fitness recently. |be a positive impact in the short-run. | | | |Disposable Income: Disposable income declined in 2010 |Increase in disposable income creates a| | | |but is expected to gradually increase in the next 5 |greater scope for spending in fitness. | | | |years. |Possibly neutral impact for geographic | | | |Geographic Location: Areas with pleasant outdoor spaces|location. Different activities may | | | |and nice weather tend to see lower demand of fitness |substitute each other during good or | | | |facilities. During winter or cooler months, indoor |bad weather. | | | |options become more attractive. | | | |Economic |Unemployment: Unemployment rate increased recently in |Increase unemployment causes customers |Threat | | |2011 due to full-time employment offset by increase in |to cut down on fitness expenses. | | | |part-time employment. However, IBIS report forecasts |Although a decrease is expected, | | | |employment rate will increase to an average of 4% in |conservative customers might substitute| | | |the next 5 years. |it with public access facilities which | | | | |slow down the growth of the industry. | | |Technological |Fitness equipment is catching up with tech-savvy, like |Customers might invest in buying small |Threat | | |downloading workouts onto iPods, wearing heart-rate |gadgets which are convenient and easier| | | |monitors while jogging. Computer-driven fitness will be|to monitor their health results. Owning| | | |inevitable as it is convenient, user-friendly and |in-house equipment saves time. | | | |accessible. Most online fitness tutorial videos are | | | | |free. | | | |Political-legal |Policy for personal training includes the Fitness |Strict regulations are set to boosts |Opportunity | | |National Exercise Professional Registration Scheme |the confidence of customers towards the| | |...
Please join StudyMode to read the full document