Competitive analysis involves analyzing how existing and potential new companies may affect or impact a company’s ability to sustain itself (Dau and al. 2019, 2019). In Argentina, there are many fitness and gym centers. The company needs to develop a marketing plan to grow its business. Most gyms and fitness centres are located in Buenos Aires. Salta and Mendoza are two other locations that have chain gyms. Megatlon Fitness, Always Club and Planet Fitness are some of the most popular gyms. Diverse gyms and fitness centers cater to different market segments. Others cater to only fat people, while others offer luxurious services. Online fitness classes are another option. Omnia Fitness is one example of a business that offers virtual training to clients.
The firm must adopt a strategy to differentiate in order to be competitive. To increase the value proposition of a brand, it must incorporate distinctive features (Lamb and colleagues 2020). The firm may use a hybrid approach that incorporates virtual and physical fitness training. By expanding its training offerings, the company can attract new markets. A business that offers various mindfulness and exercise services should not only consider diversifying its product offerings, but also offer other products. The gym may offer yoga, karate, bike riding and swimming as well as other services. In order to strengthen the brand, the company must be open to regional differences by setting up a network with training centers in major cities. A chain can increase accessibility and ease of use for customers.
Standardization is the use of the same marketing strategy across different countries. Standardization allows a business to copy its offerings without altering its diversified market (Keller & Kotler, 2016). The company can transfer their competitive edge. Peloton has to adopt an adaption strategy in order for it to be able enter the Argentine marketplace. The ability to adapt the service offerings to local customers is called adaptation. It shows that an organization values the diverse cultures and differences of each market. Market integration can be achieved by adapting services for Argentinians. Peloton might be able to join the market via acquisitions and merger strategies. Adaptation to the Argentine market will require an in-depth knowledge. The company can acquire and merge people who are familiar with the country’s fitness characteristics.
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