Business Model Evaluation for a Physical Education Player
Physical education (PE) in the recent past has come to the forefront, especially with the increasing inclination of the masses towards fitness. The study was conducted to assess the PE market and to benchmark the competitors to develop a future growth roadmap and the market entry strategy for the client. An estimation of the size of the opportunity, expected growth rates and their drivers/ inhibitors for each of the targeted product categories in India was also made. An attempt was made to understand the competitor landscape and identify the characteristics of the prominent players, including key products, prices and margin. Major customer segments in the market have been identified and potential of each has been estimated.
The approach for the study involved conducting in-depth interviews with the management of top competitors to understand the product portfolio and the market positioning. An ecosystem analysis was also done to understand supply constraints and partner service portfolio. Later part involved conducting secondary research and interviews with industry experts to benchmark the pricing & profile of various players.
There has been an important reason for increasing competitiveness in the physical education market due to an overall increase in awareness and improved positioning of the subject in the curriculum. Schools and colleges have increased the weightages, as a result, the popularity has been growing. Improved infrastructure and enhancement in the awareness has propelled the market for physical education, as a result, there is a greater amount of competition in the market as compared to earlier times.
An important aspect of the study has been covering the market attractiveness and benchmarking the competitors to give a better picture to the client and help him strategize the market entry and product development which could possibly increase the sales in the long run. One of the major plans of action suggested would be collaborating with the schools and colleges which would not only help the latter but provide accessibility to materials and programs related to physical education. Along with financial forecast development, there was also a measure by which the quality of the infrastructure could be improved. This would cater to the safety norms that would be a differentiator in the long run.
A customer segment analysis resulted in concluding who all could be possible customers along with schools and colleges. Taking the cues, product portfolio and market position can be done accordingly, so as to get an improved business model in the physical education market. Needless to say, the study has also brought out many aspects that highlighted the importance of physical education in the present scenario and created an awareness that would go a long way in promoting the same in the society.
The findings and recommendations from the research were used by the client to improvise the existing business model and execute the growth strategy devised.