Group Assignment for GROUP 3 EMBA 2019-22.

Prepared by:-

19BM61K29: Aditya Ashok Singh

19BM61K28: Arjun Kumar

19BM61K27: Arnab Gogoi

19BM61K02: Ayushman Banerjee

19BM61K14: Rahul Tripathi

19BM61K15: Saikat Sarkar

19BM61K19: Shahbaz Hussain

19BM61K20: Shamik Datta

A.​ ​Choose any latest product introduction announcement by any well-known company in the
last 6 months.

The Indian fitness equipment market is projected to grow at a CAGR of 15% by 2023.
Entrepreneurs are now cashing into this industry for better revenues.

Indians are now becoming extremely health conscious. In today’s fast-paced life, fitness savvy
people don’t get the time to visit fitness centres. To resolve this, people are now installing gyms
or fitness equipment at home. This has been a key driver for the fitness equipment industry and
it has seen tremendous growth in the past few years. The Indian fitness equipment market is
projected to grow at a CAGR of 15% by 2023. Entrepreneurs are now cashing into this industry
for better revenues.

Recently, Bollywood Superstar and fitness junkie, Salman Khan, is all set to launch his own gym
equipment range. Salman has acquired the manufacturing rights of fitness equipment company
Jerai Fitness. The company has been in existence for over 25 years and supplies to over a
hundred gyms a month across the country. This is his contribution to the Fit India Movement.

Spreading Awareness
Salman Khan has also been an inspiration to several people to work towards a fit body. He’s
also a successful entrepreneur managing his own brand “Being Human” and also manages his
clothing, jewellery, and E-cycle brands under the same umbrella.

The gym equipment will add another feather to his entrepreneurial hat. This new venture is
introduced to create fitness awareness along with educating people about the importance of
having a healthy life. It aims to have a wider reach owing to the huge popularity of the superstar
all over the country.

Affordable Fitness

The fitness craze has also entered the tier II and tier III section of the country. People living in
small cities, villages etc. want to stay healthy and fit. But they lack facilities and good fitness
centres there which are affordable. Salman envisions to make fitness affordable and accessible
to every Indian.

The actor wants people to be able to enjoy state-of-art equipments which are Made in India and
are affordable to every section of the society. He would like to reach every village, town and city
in India which can also create job opportunities for fitness entrepreneurs and sportspersons of
the country.

Thus, by promoting the brand Salman Khan can use his wider reach to his co-stars and would
also promote the brand. Gym Franchise will create job opportunities for Fitness trainers and
entrepreneurs. Gym franchise spearheaded by the fitness freak is sure to make India- fit, fitter
and fittest. Promote MAKE IN INDIA gym equipments. The best possible existing member
experience and affordable fitness coaching.

B.​ ​Find out the vision and mission of the company (Not always it will be explicitly written)

Vision of Being Human fitness arm:

Being Human's vision is to realise 'Affordable fitness for all' in India, by spreading
fitness-awareness amongst the Indian masses and manufacturing fitness equipments for
making them available to the interested people in India and contribute to the 'Fit India'
movement largely.To sum up the vision of Being India Fitness is, "​Fitness affordable and
accessible to every indian village, town and city​."

Mission of Being Human fitness arm:

The Being Human fitness arm led by actor Salman Khan, wants people to be able to enjoy
state-of-art fitness equipments which are Made in India and are affordable to every section of
the society. He would like to reach every village, town and city in India which can also create job
opportunities for fitness entrepreneurs and sportspersons of the country. Summarily, " ​Being
Human Fitness would strive to provide low cost fitness experience through promoting
key elements like Fit india movement, Make in India gym manufacturer, stressing
Importance of healthy life and creating Job opportunities for fitness entrepreneurs and
sportpersons of the country​."

C.​ ​Do a PESTLE analysis of the company and its industry.

PESTLE Analysis for Being Human Fitness and Fitness Industry in India

● P: Political Factors:- The political environment in India is presently stable which makes it
a an attractive place for businesses like Fitness Industries to flourish and develop. The
same can be said about Being Human fitness;which aims to promote affordable fitness
by manufacturing Jerai fitness equipments in India. Any instability of Governance could
lead to unstable policies which may result in change in financial and manufacturing
sectors causing a major concern for Being Human Fitness.
● E: Economic Factors:- India is the 7th largest economy in the world in terms of nominal
GDP. India is also one of the top agricultural producer countries of the world. India
however still imports fitness equipment and machinery for the fitness industry causing
the costs shoot-up and not available for the common man . These reasons present an
ideal and favourable opportunity for Fitness Equipment producing industry specifically
Being Human Fitness; producing these equipments in India and making it available for
the masses.
● S: Social Factors:- India is home to the second largest population of the world and soon
it's likely to become the first. The growing chunk of population gaining literacy and
education, is spreading awareness towards fitness amongst the masses. This
awareness has grown across the wide diverse ethnic, religious and cultural diversities of
the country's population-presenting a strong case for Being Human fitness individually
and Fitness equipment industry at large producing equipment ts in India.
● T: Technological Factors:- India being one of the fastest growing technological countries
in the world, more and more manufacturers are being interested in producing in India.
This presents a positive and favourable condition for the Fitness Industry like Being
Human Fitness equipment production in India.
● L: Legal Factors:- Coming to the legal aspect, a new firm like Being Human Fitness,
must abide the Companies Act 2013. Moreover, it must abide by the various laws and
rules guiding a production company in India. Also the legal aspects governing the
employees of manufacturing firms in India should also be adhered to by Fitness
industries like Being human Fitness inorder to avoid unnecessary litigations and
problems.
● E: Environmental Factors:- Being Human Fitness -associated with the manufacturing of
Fitness equipments and machineries industry, has a necessary requisite of sticking firm
to environmental norms for producing safe and eco friendly fitness equipments. A
developing and ever expanding country like India is facing lots of environmental
 challenges. Thus adhering to National Green Tribunal norms and laws is an absolute
necessity for Fitness Industry at large and Being Human Fitness particularly.

D.​ ​Do Porter's 5 force model analysis and SWOT

Porter's 5 force model for Being Human Fitness

● Threats of New Entrants:- Being Human has bagged manufacturing rights from Jerai
Fitness for producing fitness equipments in India for Indian fitness-loving people who
intend to set up a small gym at their homes. Being Human Fitness has identified a great
potential market in India. But Being Human must be wary about the fact that many firms
might look into the huge potential beckoning them to earn similar rights and enter the
market and present strong challenges for Being Human Fitness.
● Threat for Substitutes:- Any fitness equipment producing company and Fitness centres
at large are potential substitutes and a threat for Being Human Fitness. These
substitutes can engulf the market share of Being Human Fitness and pose a serious
challenge to its survival.
● Bargaining power of Customers:- Once into the fitness market, Being Human Fitness
can tap and touch a large number from a huge customer base. But customizing the
equipments according to their needs and wants could be a tough proposition for Being
Human. Customers can be spoilt if they have lots of choices around to pick from. Thus
consumers bargaining power is something to be of great importance for Being Human
Fitness.
● Bargaining power of Suppliers:- Being Human Fitness has bagged manufacturing rights
of fitness equipment in India. For producing fitness equipments in India it has to resort to
suppliers for getting the raw material and other essentials for production fitness
equipments. Suppliers can resort to increase in price if raw materials and/or decrease in
their quality. Suppliers can also reduce the quantity of materials being supplied. Thus
Being Human Fitness needs to keep this aspect in mind and device means and
techniques to curb them.
● Competitive Rivalry:- Established firms in the fitness industry who have been supplying
equipments to fitness centres along with the centres have an established background
and enormous amounts of experience in the fitness market hands them valuable
advantage and poses a serious threat to Being Human Fitness.

SWOT Analysis for Being Human Firm

● S: Strengths​:- Being Human Fitness, greatest strength is to have an owner who is a

popular icon and fitness junkie himself- Salman Khan. Being Human being an Indian firm
and a rare first in manufacturing fitness equipments in India is again its major strengths.
Gaining manufacturing rights from Jerai Fitness- a well known fitness company also
adds to the strengths of Being Human Fitness.
● W:Weakness​:- Being a new player in the fitness industry domain makes the greatest
weakness of Being Human Fitness. Moreover, Being Human organisation has had prior
 experience in clothing and accessories but having no prior experience in fitness industry
contributes to its weakness. Also Budget constraints for young entrepreneurs/franchise
is a potential threat for Being Human Fitness.
● O:Opportunities​:- The growing popularity of fitness in India coupled with growing
education and awareness present Being Human Fitness huge potential market and a
great opportunity for setting up fitness equipment production in India. Also the huge
expenditure of buying imported fitness equipments in India presents Being Human
Fitness another great advantage for producing them in India. The crunch of time in
people's lives has rendered them unable to pursue fitness at centres and presents Being
Human Fitness the greatest motivation and opportunity of producing in India.
● T: Threats​:- A lucrative market in India may attract other entrepreneurs or startups to
jump start their journey into fitness domain posing a serious challenge. Established
brands and gyms also are potential threats to Being Human Fitness. Also conventional
health techniques like Yoga to pose a threat to Being Human Fitness.

E.​ ​Define the target segment of the company for the new product

Considering the large population in India, Being Human Fitness endeavour has segmented the
population and targeted the chunk of fitness-loving people residing in Tier 1 and Tier 2 cities of
India who have an intent of being fit but lack the requisite amount of time to avail fitness
services of a professional gym and are also not economically potent enough to buy imported
fitness equipments of foreign companies which are way too expensive to constitute their own
gyms at their own homes.

F.​ ​Discuss 4C and 4P for the product

4Cs for Being Human Fitness equipments and machinery

Customer- The growing numbers of fitness enthusiasts from big and small towns of the country
are the targeted customers of Being Human Fitness firm.

Cost- The cost of purchasing fitness equipments should be lesser than the cost of gym
membership and the time consumed in availing those services.

Convenience- The ease and comfort of availability of the fitness equipments and the customized
fitness solutions for the customers are a prime concern for Being Human Fitness.

Communication- Proper advertising and educating the masses can go a long way in promoting
the equipments developed by Being Human Fitness.

4Ps for Being Human Fitness equipments and machinery

Product- Providing Jerai Fitness' grade quality fitness equipment for fitness lovers of
small,medium and large cities of India.
Price- Keeping the price of the fitness equipments at a reasonable level so that intended
customers can easily avail them for their needs.

Place- The fitness equipments should be easily accessible to the intended customers and their
ease of availability should enhance sells and penetration of the equipments produced by Being
Human Fitness.

Promotion- Advertising and promoting the new fitness equipments can go a long way towards
educating the masses and targeting the intended customers in even greater numbers.

Inspired from:
https://www.franchiseindia.com/wellness/salman-khans-endeavour-to-make-fitness-affordable.1
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