[SOLVED] Mirror- the in House Fitness Company

Key Learning Objectives (for all written activities): 1) Apply knowledge learned in specific modules to actual business phenomenon. 2) Develop/enhance business research and analysis skills. 3) Communicate marketing knowledge in a formal business style research report/insight. Instructions • For citations, please use APA style. Information on APA style can be found through various online sources. Please note that there may be various variations of the APA style so whichever one you use would be fine. However, please maintain consistency in whichever format you use. Here is an example. In-text Citations Transaction cost theory, originally proposed by Coase (1937) and then developed upon by Williamson (1975), examines the efficacy of performing a particular transaction internally versus externally (Geyskens, et al., 2006). In that regard, TCA evaluates the benefits and disadvantages of outsourcing vis a vis in-house development of a product (Ang and Straub, 1998; Bhali and Rivard, 2003; McNally and Griffin, 2004). 1|Page, McNally, R.C., and Griffin, A. (2004). Firm and individual choice drivers in make-or-buy decisions: a diminishing role for transaction cost economics? Journal of Supply Chain Management. 40(1), 4-17. • The research paper must have a minimum of 10 references in the bibliography section. The sources that are provided in this paper can be part of the 10 references. • Page Length: 4-7 pages, single-spaced (including any charts; excluding cover page and bibliography). The paper must be at least 4 pages in length and must have a cover page. While there is no penalty in terms of going over the 7-page limit, it is recommended that you stay as close to that number as is possible to minimize any repetition, etc. • Students are not required to include charts/figures but if you do choose to use these, the charts must be embedded in the main body of the paper (in relevant sections) and not in an appendix. Chart/figure numbers and titles must be used. Please make sure that the chart/figure is legible. Please cite the source for the chart at the bottom. Example Figure 1: Housing Demand in the US, 2019 Source: Zillow Group • Important – Students are required to meet the Turnitin threshold of 20% content match or less. Turnitin is already integrated in Moodle and all you need to do is click on the assignment link and it will give you the option to upload the paper and will generate a content match percentage score. If your match percentage is higher than 20%, you will have the opportunity to take down the document and re-submit it until the due date. Please note that sometimes the Turnitin system, 2|Page. Please avoid excessive use of direct quotes from any of the research sources. The write-up/answers should be in your own words and excessive use of direct quotes will almost certainly raise the Turnitin content match percentage. • Each question must be labeled, {e.g. Q1 (a)}, and must be answered separately. • Students should use additional research (beyond what is provided with the assignment) to support your answers. • Unless otherwise, late submissions may not be accepted or may receive partial credit only. If an extraordinary event prevents you from submitting your paper on time, please advise both myself and the academic coaches ahead of time or at your earliest. This activity relates to material covered in Modules 1 & 2. Please leverage relevant information from the modules to help you develop answers to assignment questions. This activity focuses on Mirror, the in-home fitness company. Selected URLs 1. Mirror website 2. CNBC Article on Lululemon’s Acquisition of Mirror 3. Fitness Industry Article & Video 4. Forbes Article 5. Classpass 6. YMCA 360 Online Exercises In addition to the above URLs, you must conduct additional research to develop a deeper understanding of trends in home fitness industry. Q.1. This question has four parts: a) Develop a brief description of Mirror’s business model. Use research to support your answer. (10 points) Answer Format: Minimum 2 paragraphs. Or you can use separate heading/sub-headings. 3|Page This information is proprietary to Dr. Imran Khan. Scanning, copying, website posting, or reproducing and sharing in any form is strictly prohibited. Hint: A business model analysis typically identifies products/services offered, customers served, and the revenue model. A business model analysis should also highlight cost centers and profitability. b) Who is Mirror’s direct and or indirect competition? Explain your answer. (10 points) Answer Format: Use separate headings followed by a brief write-up for each. c) What are Mirror’s competitive advantages over its rivals? List and briefly explain each competitive advantage. Use research to support your answer. (10 points) Answer format guidance: For part c, use separate headings for each competitive advantage followed by an explanation of the advantage. d) Can Mirror sustain its competitive advantages over the short and or long-run? Explain your answer. (10 points) Answer format: For part d, you should breakdown the answer into two sections, i.e., short-term (1-2 years) & long-term (3-5years) followed by brief discussion. Q.2. (a) Identify and explain 5 criteria a consumer is likely to use when deciding which type of home fitness product/service to purchase or subscribe to? Use research to support your answer. (25 points) (b) How does Mirror rank on each of these criteria? (Excellent, Good, Fair, Poor)? Explain your rationale. (5 points) Answer Format: For part (a), list each criterion using a heading followed by an explanation of why that criteria are likely to be important to a used vehicle buyer. For part (b), you can develop a chart/matrix or use a different format. Briefly explain the rationale behind each ranking. Q.3. (a) Keeping in mind the need to expand revenue base, which strategy(ies) should the company use in the next 1-2 years, and how? Explain your answer. You can choose the strategy(ies) from Figure 1 or you can propose on of your own. (15 points) (b) Keeping in mind the need to grow revenue while also improving profitability, which strategy(ies) should be used in 3-5 years and how? Explain your answer. You can choose the strategy(ies) from Figure 1 or you can propose on of your own. (15 points) Hint: One way to come up with a strategy is to review the SWOT analysis to see if you can find something there that may be worth exploring or something which may be relevant to the strategies listed in Figure 1. Another way would be to look at the customer purchase criteria which you identified. 4|Page This information is proprietary to Dr. Imran Khan. Scanning, copying, website posting, or reproducing and sharing in any form is strictly prohibited. Answer Format: Each part must be answered separately. Figure 1: Marketing Strategies 5|Page

 

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