Simmons Assignment Instructions are attached below.
An example of the written assignment submitted by a former student is also attached.
For the paper:
Target Market is Males and Females 25-44
My Focus Subset for this assignment is Females Ages 35-44
The brand chosen is Peloton Interactive, Inc. Peloton is a fitness equipment company founded in 2012 and is headquartered in New York. The company sells exercise bikes, treadmills, and rowers that can be used from the comfort of consumers’ homes. The luxury equipment comes with a large touchscreen attached. Using the screen, users have the option to subscribe to and stream live fitness classes taught by Peloton’s instructors. During the pandemic, Peloton reached its peak with a stock price of $171 and a market cap of nearly $50 billion (Hartmans, 2022). However, today the company is valued at $2.9 billion (Mckinnon, 2022). The company temporarily halted production of its bikes and treadmills in early 2022 as consumer demands waned (Thomas, 2022). Gyms have opened back up and people are returning to pre-pandemic lifestyles. The company also suffered recalls of thousands of unsafe treadmills and faced controversy after the death of a child involving a Peloton product (Mckinnon, 2022). Peloton would benefit tremendously from a new and improved marketing plan being that post-pandemic times have evidently resulted in a massive decline in consumers. Much of Peloton’s marketing strategy thrived during the lockdown period when people’s options for working out were limited. The brand needs to adjust its selling points, pivot on its spending habits, and reassess its priorities in this new plan. In our plan, we will aim to prioritize safety and smart spending while making this brand just as attractive, if not more, than what it was during the pandemic.
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