Introduction To Small Electronic Technology Products
This present research paper is going to provide an in-depth study of small electronic and technology products that are being sold by the Life Time Fitness Club. This research is focused on the study of only small electronic technology products that are Heart Rate Monitor and Accessories, Lifestyle and Accessories like wireless headset.
This part of the paper is going to present a small introduction of all three product categories that being analysed in this report.
- Heart Rate Monitor and accessories :The heart rate monitors are personal monitoring devices that used by an individual to measure their real time heart rate and record it for later study. Performers of various types of physical exercise largely use it (Popolo, 2013). The Lifetime Fitness Club offers nine different types of heart rate monitors that are categorized on the basis of their price. The price of entry level heart rate monitors varies from $129.95 to $199.99. Mid range heart rate monitors vary from $249.99 to $329.99. The last category of heart rate monitor is high, prices of products in these categories vary from $399.99 to $550.00.
- Accessories :Accessories can be defined as a thing that can be added into something to increase its effectiveness of usefulness. For example running headset, it provides comfort to people while running. In current market there are several wireless headsets are available that can increase the power of runner by playing their favourite music clearly and unobtrusively (McDonald, 2013).
- Lifestyle :Lifestyle indicates the typical way of life of an individual or group. Products of this category are made to improve the lifestyle of people. For example digital fitness trackers, these trackers provide information about people’s lifestyle like how many steps they take, how many calories they burn and even the quality of their sleep. Such products vastly contribute in improving the lifestyle of people by monitoring several aspects that can affect their health (McDonald, 2013).
Products Based On Sex
The choice of people also differs due to their sex (Harris, 2003). For example color; Woman characteristically sees the red end of the spectrum better than men do (Hill, 2011). Mans like to buy color like blue that indicates their passion about what they do, especially while working out (Kahle and Rennie, 1993). Studies indicate that most of the man’s like blue on the other hand woman like red or pink. Women are more conscious about color compared to men. What may be simple purple to a man could be plum, grape or any other fruit like variant to a woman (Using Colors to Sell Your Products. 2010).
The current product list of Lifetime health club indicates that their products are not categorized on the basis of sex. Most of products are available in black which is less preferred by women. If Lifestyle health club categorized its products on the basis of sex and increase the color combination then sales can be increased (Couch, 2007).
Products Based On Age
By observing the products list of lifetime health club it is found that its products are not differentiated on the basis of age. Most of eats products are for all age groups but choice and buying behavior of people changes with their age. The buying decisions of elders are based on analytical view (Achten and Jeukendrup, 2003). They have strong experience and thus, they make a final decision after assessing several factors. On the other hand kids spend huge but with less analytical thoughts. Their buying decisions are made by one or two features of a product.
Lifetime Fitness App
In current technological world people are very much friendly with their Smartphone. They like to record and analyze their health data by using different apps. In current scenario there are several applications are available for Iphone and Android users for this purpose (). This part of research paper is going to discuss about such Android and Iphone apps that can do heart rate monitor or step count.
Capturing Data And Tracking Clients Fitness
This part of report is going to present continuous heart rate monitoring of an individual. The data is captured for a day by using Alpha wrist HR monitor which comes in two flavors: ANT + and Bluetooth Smart. For this test Bluetooth Smart is used so that recorded data can be transferred directly into phone. The Wahoo Fitness app is used for capturing the data and tracking fitness as it comes to data integrity and portability.
This paper discussed about the products being offered by Lifetime Health Club to its members. The selling of products is excellent and club is earning good profit due to high rate of margin. It was also seen that prices of heart rate monitors are very high at club compared to Amazon but prices of lifestyle products are quite similar. From the price analysis it was found that reason of price gap is high margin. In next phase the analysis of profit indicates that club is earning good profit and its most profitable product is RS300.
There are several other products are available that are categorized on the basis of sex and age. By observing the products list of lifetime health club it is found that their products are not categorized on the basis of sex and age.
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