Improving Marketing Strategy - Ilm Level 7

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ReflectionsOver the four weeks of this theme, you should reflect on the following task: | Review your organisation’s marketing strategy, based on your learning from the theme, and make recommendations for improvement. The nominal word count for this assignment is 2,500 – 3,000 words. Please note that this is provided as an indication only. Write your responses in the white boxes below. | 1a. How effective is your organisation's current product / service range and its new product development strategy in meeting customer requirements and creating competitive advantage? (500-600 words) | Through my analysis, I have identified that our service range meets our current customer requirements. I have based this on reviewing key metrics such as trial to conversion of sale, attrition rates and customer feedback. In terms of conversion of product tester to sale, our company currently closes an average of 75% of these leads, which shows that our product meets 3 out 4 peoples needs that try us. This can mainly be put down to our quality strategy of delivering industry leading fitness classes. We also have a strong sales strategy where every instructor is trained in sales techniques and aims to close the sale in the parks after each class. This strategy has had a huge impact on meeting our customer’s needs improving the conversion rate above from 56% in March 2013 to 75% by March 2014. It is also worth adding that 95% of these sales are closed by the park managers on site with remainder sold via our website and membership team in head office.Based on customer feedback via an online survey, 96% of our customers stated that class quality and quality of our Instructors is the most important part of the BMF experience. Digging deeper into the analysis, aspects that the customer perceive to be quality are ensuring the class is appropriately challenging and a fun atmosphere is

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