Marketing Environment Analysis: BodyBoss 2.0

Introduction

People have become more mindful of their health thereby generating a substantial market for simple and home-based workout alternatives. A resistance exercise system in the world especially in Australia can be meant to be part of the home workout sector, a growing category for exercise facilities and workout program. The Australian fitness industry is a competitive, major driver of economic growth. The development is propelled by people who have less time to visit fitness centers and the time versatility offered by the gym at home. Home gym equipment can be a major expense, but if one is trying to have the exercise done at home, the BodyBoss 2.0 provides the most compact and economical option on the market. If one is performing the upper body, lower body, or going to persuade in more exercise, the BodyBoss offers an effective way to exercise without occupying much place. The BodyBoss 2.0 is one of the best solutions for everyday workout. 

PESTLE Analysis

As both consumers and businesses work in an environment where several factors may influence decision-making, so there is a need to consider the marketing context in which the product will be sold. Therefore, macro-environmental analysis is required to assess the factors that can have an affect not only on the marketing strategy but also on the overall organizational marketing techniques (Kasim, Ekinci, Altinay & Hussain, 2018). External analysis can help marketers recognize patterns and changes in organizationally external variables, such as political , economic , social, technological, environmental , legal and competitive environments (PESTEL framework) (Sharp, 2017). Such external factors fall outside marketers' influence. The most marketers can do regarding the external environment variables is to consider the problems and respond to them by means of smart decision making. Following is the detailed PESTEL analysis of the BodyBoss:

• Political Environment

The first factor in the macro environment is a political one that is specifically related to the government and other relevant authorities. This is one of the major factors that can trigger people to change the perception of goods, advertising or even the image of the brand depending on the political preferences of the nation (Sharp, 2017). Political factors involve policies or laws in government. 

In the case of a fitness product or exercise program, there is very little to think about trade liberalization limitations (Fotopoulou & O’Riordan, 2017). Such regulations have a greater influence on the Australian fitness industry. The Australian legislation regulating the fitness industry is laid down in the Code of Conduct of the fitness community under the Fair Trading Act of 1992 (Haug, 2017).  However, as the BodyBoss portable gym equipment are now accessible in various countries, its activities rely on other countries' diplomatic relationships as goods are made in one country and marketed in another, the influence of the political factor will intensify.

• Economic Environment

The second factor of macro environment is economic, which is associated with consumer mindset and collective views (Sharp, 2017). 

Fitness equipment and exercise solutions such as BodyBoss 2.0 are typically manufacturers of recreational facilities. A drop in number of customers may arise when there is an economic recession. People will not waste money on recreation because they have limited discretionary income (Zarotis & Tokarski, 2020).