The Edge Sports Nutrition Centres

The Edge Sports - The Edge Sports Nutrition Centres Phase 1 Basic Demand Conditions Industry Map A dietary supplement also known as a food

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The Edge Sports Nutrition Centres Phase 1: Basic Demand Conditions Industry Map A dietary supplement, also known as a food supplement or nutritional supplement, is intended to provide nutrients, such as vitamins, minerals, fibre, fatty acids or amino acids that may be missing or may not be consumed in sufficient quantities in a person’s diet. Some countries define dietary supplements as foods, while in others they are defined as drugs or natural health products. Sports nutrition supplements have for long been used to assist athletes, active fit people as well as those with limited exercise activity in achieving their fitness and lifestyle goals. However, poor regulation of the supplement industry allows consumers and nonconsumers to be bombarded with marketing hype that exaggerates or completely invents unproven benefits arising from the use of supplements. The demand for sports supplements is growing fast as both professional athletes and general consumers look to enhance physical properties such as muscle mass, fat loss, strength and endurance. The TGA (Therapeutic Goods Administration) has identified sports supplements as a high priority enforcement item which has attracted mainstream media coverage over the past year and has stirred the already murky waters of regulated guidance and public safety. A recent industry study in 2008 by BCC Research valued the worldwide sports supplement industry at an estimated $31bn and the Australian market at an estimated $190m. With a compound annual growth rate of 24% it is easy to see why the sports supplements industry is thriving and experiencing high levels of demand. Reconstructing Market Boundaries Path 3: Looking Across the Chain of Buyers What is the chain of buyers in your industry? The chain of buyers refers to the different players involved directly or indirectly in the buying decision. Generally speaking there are three groups: purchasers, users and influencers. In the sports supplements industry all three groups play a valuable role in the demand phase. Which buyer group does your industry typically focus on? It is normal for industry to converge on a single buyer group and in our case this role is taken by the purchaser. The marketing efforts of this industry are relatively low however over the last few years such marketing efforts have increased substantially in line with the growth of health and fitness industry, the dietary supplement industry and the sports supplements industry itself.
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This note was uploaded on 01/18/2012 for the course DEP 235 taught by Professor Eeer during the Spring '11 term at Assoc. of Chartered Certified Accountants.

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The Edge Sports - The Edge Sports Nutrition Centres Phase 1 Basic Demand Conditions Industry Map A dietary supplement also known as a food

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