Harvard Case - Keep: Commercializing China's Mobile Fitness Unicorn
"Keep: Commercializing China's Mobile Fitness Unicorn" Harvard business case study is written by Xiaojun Fan, Xin Li. It deals with the challenges in the field of Marketing. The case study is 14 page(s) long and it was first published on : May 12, 2022
At Fern Fort University, we recommend Keep adopt a multi-pronged strategy to solidify its position as the leading mobile fitness platform in China and expand globally. This strategy involves a combination of: * Leveraging existing strengths: Capitalizing on its strong brand recognition, user base, and technology to develop new features and services.* Expanding into new markets: Targeting international markets with a focus on Southeast Asia and other regions with high mobile penetration and growing fitness consciousness.* Building a robust ecosystem: Partnering with fitness studios, gyms, and healthcare providers to offer integrated services and create a holistic fitness experience.* Embracing innovation: Continuously investing in AI and machine learning to personalize user experiences, optimize content, and develop new fitness solutions.
2. Background
Keep, a Chinese mobile fitness app, has achieved remarkable success with over 300 million users. Its gamified approach, diverse content, and affordable pricing have made it a popular choice for fitness enthusiasts in China. However, Keep faces challenges as it seeks to maintain its growth trajectory and expand internationally.
The case study focuses on Keep's founder and CEO, Wang Ning, who is grappling with decisions regarding the company's future. He must navigate the complexities of scaling the business, expanding into new markets, and staying ahead of the competition.
3. Analysis of the Case Study
To analyze Keep's situation, we utilize a combination of frameworks:
1. SWOT Analysis:
- Strengths: Strong brand recognition, large user base, diverse content library, gamified approach, affordable pricing, strong technology infrastructure, data-driven insights.
- Weaknesses: Limited international presence, potential for user churn, dependence on free users, lack of premium features, potential for regulatory challenges.
- Opportunities: Expanding into international markets, developing new fitness solutions, partnering with fitness studios and healthcare providers, leveraging AI and machine learning for personalization.
- Threats: Increasing competition from established players, potential for user fatigue, economic downturn, regulatory changes in the fitness industry.
2. PESTEL Analysis:
- Political: Regulatory changes in the fitness industry, data privacy concerns, government policies on technology adoption.
- Economic: Economic growth, disposable income levels, consumer spending patterns.
- Social: Growing fitness consciousness, increasing demand for personalized experiences, changing consumer preferences.
- Technological: Advancements in AI and machine learning, development of new fitness technologies, increasing mobile penetration.
- Environmental: Growing awareness of environmental sustainability, demand for eco-friendly fitness solutions.
- Legal: Data privacy regulations, intellectual property rights, consumer protection laws.
3. Porter's Five Forces:
- Threat of new entrants: High, due to the low barriers to entry in the mobile fitness app market.
- Bargaining power of buyers: Moderate, as users have many alternative fitness apps to choose from.
- Bargaining power of suppliers: Low, as Keep can leverage its large user base to negotiate favorable terms with content creators and technology providers.
- Threat of substitute products: High, as users can choose from a wide range of fitness activities and products.
- Rivalry among existing competitors: High, as the market is crowded with established players and new entrants.
4. Recommendations
Keep should implement the following recommendations to achieve sustainable growth and global expansion:
1. Enhance Product Offering and User Experience:
- Develop premium features: Introduce subscription-based premium features, such as personalized training plans, expert-led workouts, and exclusive content.
- Improve user engagement: Implement AI-powered recommendations, gamified challenges, and social features to increase user engagement and retention.
- Expand content library: Offer a wider range of workout formats, including yoga, Pilates, dance, and martial arts, to cater to diverse user preferences.
- Enhance user interface: Optimize the app's design and navigation for a seamless user experience.
2. Expand into International Markets:
- Focus on Southeast Asia: Target countries with high mobile penetration and growing fitness consciousness, such as Indonesia, Thailand, and Vietnam.
- Adapt content and marketing: Localize content, adjust pricing strategies, and tailor marketing campaigns to resonate with local audiences.
- Partner with local fitness studios: Collaborate with fitness studios and gyms to offer integrated services and expand reach.
- Develop a global brand strategy: Create a consistent brand identity across all markets, while adapting to local cultural nuances.
3. Build a Robust Ecosystem:
- Partner with healthcare providers: Integrate Keep with healthcare platforms to offer personalized fitness recommendations and track user progress.
- Develop a network of fitness studios: Partner with fitness studios and gyms to offer exclusive discounts and promotions to Keep users.
- Create a marketplace for fitness products: Offer a platform for users to purchase fitness equipment, apparel, and accessories.
4. Embrace Innovation:
- Invest in AI and machine learning: Utilize AI to personalize workouts, provide real-time feedback, and predict user needs.
- Develop new fitness solutions: Explore emerging fitness technologies, such as virtual reality and augmented reality, to create immersive experiences.
- Foster a culture of innovation: Encourage experimentation and collaboration within the company to drive continuous improvement.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Keep's core competencies lie in its technology platform, content creation, and user engagement. These recommendations leverage these strengths while aligning with the company's mission to make fitness accessible to everyone.
- External customers and internal clients: The recommendations cater to the needs of both existing and potential users, while also providing value to fitness studios, healthcare providers, and other stakeholders.
- Competitors: The recommendations address the competitive landscape by differentiating Keep through its unique features, global reach, and innovative offerings.
- Attractiveness ' quantitative measures: The recommendations are expected to increase user engagement, revenue, and market share, leading to a positive impact on the company's financial performance.
- Assumptions: The recommendations are based on the assumption that the fitness industry will continue to grow, mobile penetration will increase, and consumers will embrace personalized fitness experiences.
6. Conclusion
Keep has the potential to become a global leader in the mobile fitness industry. By leveraging its strengths, expanding into new markets, building a robust ecosystem, and embracing innovation, Keep can solidify its position as the go-to platform for fitness enthusiasts worldwide.
7. Discussion
Alternatives not selected:
- Focusing solely on the Chinese market: This strategy would limit Keep's growth potential and expose it to increased competition within a single market.
- Acquiring existing fitness companies: This strategy could be costly and risky, and may not be the most efficient way to achieve global expansion.
Risks and key assumptions:
- Competition: The mobile fitness market is highly competitive, and Keep may face challenges from established players and new entrants.
- User churn: The company must address user churn by continuously improving its product offering and user experience.
- Regulatory changes: The fitness industry is subject to regulatory changes, which could impact Keep's operations.
Options Grid:
| Option | Advantages | Disadvantages |
|---|---|---|
| Enhance product offering | Improved user engagement, increased revenue | Potential for user churn if not executed effectively |
| Expand into international markets | Increased market share, global brand recognition | Cultural challenges, adaptation required |
| Build a robust ecosystem | Increased reach, diversified revenue streams | Potential for complex partnerships |
| Embrace innovation | Competitive advantage, new revenue opportunities | High investment costs, potential for failure |
8. Next Steps
- Phase 1 (Short-term): Implement premium features, enhance user engagement, and expand content library.
- Phase 2 (Mid-term): Target Southeast Asian markets, develop partnerships with local fitness studios, and integrate with healthcare platforms.
- Phase 3 (Long-term): Invest in AI and machine learning, develop new fitness solutions, and expand into other global markets.
By following these recommendations and adapting to the evolving market landscape, Keep can achieve its ambitious goals and become a global fitness leader.
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Case Description
Recent years had witnessed the social phenomenon of the rise of Internet brands. Looking at Internet fitness unicorn brand Keep's brand commercialization process, Keep demonstrated the path of creation, product adjustment and upgrade, and brand extension logic of Internet app brands. Keep started as a single-tool app providing exercise content and data records, and gradually developed into a one-stop fitness and exercise platform by actively adjusting its brand goal, surpassing similar products to become the largest social platform for exercise in China. Keep then went through a bottleneck period where it had huge traffic but could not monetize it. Finally, Keep pursued commercialization, transforming into a comprehensive ecological fitness chain. Now, in April 2021, how would Keep respond to the competition and continue its strategic vision of providing a fitness ecosystem? Should its strategic focus continue to shift from online to offline? What should Keep's next steps be?
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