Task:

Visit Bala's (Links to an external site.) website, but do not let their current pricing and place decisions influence your recommendations. Also, watch the following video to learn more about the business and the entrepreneurs behind the business:

After having done so, complete the following:

• Read through the following linked articles: How the founders of Bala are using stylish design to inspire our fitness goals (Links to an external site.); How Bala became the "it" fitness accessory of the pandemic (Links to an external site.); Wearable gear, ballet clothes, and other fitness trends to invest in this year (Links to an external site.);
• Conduct your own secondary research to identify and utilize current trends in the external analysis section. To do so, you can do a Google search for terms such as "fitness trends202x" "Weighted wristbands competitors" "U.S. economic trends 202x", "fitness trends around the world," "fitness trends gender," etc. You can and should access databases through UO Library, such as IBISWorldLinks to an external site., Mintel ReportsLinks to an external site., and/or Business Source CompleteLinks to an external site. to further identify pertinent external environment trends.
• After having done so, you will answer the Bala Company Questions found below.

• Strategic Planning: Internal, External, SWOT Analyses
• Market Research
• Consumer Behavior

1. 4P Description: Describe Bala’s Current Marketing Mix (4P’s): (Using bullet points for describing the 4P's is acceptable – citing sources for your information)
   1. Types of Products offered:
   2. Price points (generally):
   3. Retail and distribution outlets:
   4. Promotional tools utilized (consider tools such as advertising, social media, website, promotions, direct marketing [e.g., newsletter], public relations, etc.):
2. Target Market/Consumer Behavior: Who is/are Bala’s likely Target Market(s), in your opinion? Describe in depth, utilizing consumer behavior concepts to create a more in-depth profile of these consumers and their consumption behaviors.
3. Resources & Growth Strategy (citing sources for your information):
   1. What resources does Bala have available to them?
   2. What growth strategy do they appear to be following right now (using Ansoff's Matrix and evidence to support your classification)?
4. External Analysis (Industry Trend Analysis): Identify and describe specific external trends that are impacting the fitness industry or happening within the fitness industry, from what you read and researched. You will identify specific trends relating to each of the following macroenvironmental trend areas: Demographic, Technological, Economic, Political/Legal, Social, and Cultural areas. Then, identify the potential impact that each of these trends may have on the industry, whether positive or negative – and why? Remember to cite your sources appropriately for each data insight (parenthetical reference right after the data point; full citation at the end of your post)
   1. 1. Demographic Factors (What's happening in age cohorts, Gender trends, Ethnic trends, etc.)? Potential impact of each factor/trend on the industry?
      2. Technological Factors (Trends in research, innovation)? Potential impact of each factor/trend on the industry?
      3. Economic Factors (Trends in the economy, e.g., recession/growth, inflation, interest rates, etc.)? Potential impact of each factor/trend on the industry?
      4. Political/Legal Factors (Trends in the political/social realm, such as litigation, government, etc.)? Potential impact of each factor/trend on the industry?
      5. Social Factors: (Lifestyles, social concerns)? Potential impact of each factor/trend on the industry?
      6. Cultural Factors (Trends within our norms, behaviors, rituals, traditions, values, etc.)? Potential impact of each factor/trend on the industry?
5. External Analysis (Competitors Analysis): Who are the key competitors of Bala and what are their corresponding strengths/weaknesses?
6. SWOT Analysis: Using the above information from Questions 1-5, develop a SWOT table for Bala. I encourage you to provide your rationale for your classification of each point.