The impacts of the coronavirus pandemic is changing consumer behavior and the dynamics of many industries. We have seen shortages of essential items such as toilet paper, eggs, and flour. There has also been a steep rise in the sales and uses of technology as people have moved to working from home and dramatically reduced their social interactions. Virtually all aspects of our lives have been impacted in one way or another, including how we exercise and work out.
With gyms and fitness centers closed due to coronavirus concerns, people have moved to new ways to work out. New fitness routines include using old-fashioned home equipment, online Zoom workouts, and high-tech Internet-connected equipment. Many of the newer market entries also include artificial intelligence to help determine and guide workout plans.
The new equipment is decidedly interactive; some include motion-sensor cameras, 3-D modeling, A.I. generated coaching, automatic adjustments when the user is struggling, and mobile apps. These workout devices include stationary cycles, treadmills, weight-lifting equipment, and interactive mirrors. Most require a hefty initial investment plus a monthly subscription fee. Some even provide interaction during workouts with other people, and help build a community of patrons. However, if you want social interaction, you’ll have to wait for gyms to reopen.
Ready, set, go!
Group Activities and Discussion Questions:
- Review key aspects of developing a product positioning map, including determining the axis labels for positioning.
- Review various fitness products and services. What products are competitors?
- Show a variety of newer, high-tech fitness devices:
Tempo Fit: https://tempo.fit/
- Have each team research one of the companies. What does each provide? Cost? Market? Subscription? Activities?
- Then, have each team provide a positioning map based on their research of the companies.
Source: New York Times; Wall Street Journal; other news sources