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Learning Goal: I’m working on a business question and need guidance to help me learn.
Please respond to the following separately: 5-10 sentences
1. Based on the discussion preparation scenario, assess key roles of the lecture or discussion training method as they apply to today’s virtual era. Provide examples from the scenario and the textbook to support your rationale.
Traditional Training Methods: Life Time Fitness
This research will conduct a situational analysis on Life Time Fitness Inc. This study will also develop a marketing strategy based on Life Time Fitness’s programs and services offered in the Personal Training division. It will examine the marketing situation and provide a market description, which includes its competition positions, strengths and weaknesses, and opportunities/threats. Using research and data, the paper will evaluate Life Time’s strategies on positioning, products, distribution, and marketing communications.
CEO and Chairman Bahram Arkadi founded Life Time Fitness in 1992 in Brooklyn Park, Minnesota. Today, Life Time Fitness operates with 105 locations throughout the United States and Canada (Life Time Fitness, 2013). Life Time Fitness’s mission is “to provide an educational, entertaining, friendly and inviting, functional and innovative experience of uncompromising quality that meets the health and fitness needs of the entire family” (Life Time Fitness, 2013). Life Time Fitness seeks to meet the health and fitness needs of families by combining education, exercise and nutrition products and services, with large four-in-one sports and athletics, fitness, family recreation, and a resort/spa centre. As a Healthy Way of Life Company, Life Time delivers certified professionals, comprehensive businesses, and incredible destinations that help people positively change their lives every day.
Kotler (2012) describes three levels of product: core product, actual product, and augmented product. The core product consists of the most basic level, simply looks at what people set out to buy, and what benefits a product provides. The actual product involves translating the list of core product benefits into a product that people will buy. This is also considered the tangible and physical benefit of a product. The augmented product involves deciding the additional non-tangible benefits that a product can offer. It’s also known as the extra service as well as the add-on value. This total product concept considers both tangible and intangible components of a product that work together to create the total value perceived by consumers.
Life Time Fitness defines its core product/service through its healthy way of life approach to customers to achieve their health and fitness goals. Life Time is able to do this by engaging in customer’s areas of interest and discovering new passions, which are both inside and outside of Life Time’s distinctive and large sports, professional fitness, family recreations, and spa. The club is designed to be a healthy destination and has a lifestyle approach-traditional training methods.
2. Respond to the classmate’s post below:
Good evening Professor and classmates,
This week’s discussion addresses traditional training methods in the virtual working environment that Covid has accelerated. Please see my findings below.
I work for Verizon, and we have experienced that many face-to-face meetings and training have become virtual. There are advantages to having virtual conferences and training, such as cost reduction of finding and renting space large enough to accommodate the class, travel time, meal, and expense reduction. Additionally, materials need to be presented in soft copy, so that cost saving is also realized.
However, virtual training has drawbacks that must be realized and addressed. One of the most significant challenges is ensuring engagement from the audience. These challenges are reduced with the use of cameras and setting the expectation of engagement standards during the training. The lack of face-to-face experiences has also required the training team to add additional activities and touchpoints to ensure that learning and engagement are upheld.
Another challenge to our virtual era is the lack of human contact and the value created by meeting in person. Virtual meetings and training can seem impersonal and cold when we have been accustomed to having that bonding time in person. This lack of human contact is another facet of virtual training that can be addressed. The adverse effects can be reduced by having ice breakers during introductions and break-out sessions so that the participants can get to know each other in smaller groups. These break-out sessions can acclimate the members quickly and help form networking bonds.