Business Model Innovation: The Case of Fitness Industry
Abstract: Abstract. Business model innovation and design is an important tool in successful implementation of an organizational strategy. The purpose of this study is to explore value creation throw business model innovation. In this case is proposed to consider the possibility of implementing so-called virtual classes or interactive training. The purpose of this master thesis is to gain a better understanding of how value creation can be achieved throw business model innovation, using digital solution. More specifically, this research aims to increase the understanding of factors that affect customer value by examining customers’ needs. And understanding of factors that transformer need take into account to organization's part on this way, reaching the win-win situation for all participants. And how these factors can become drivers of value creation. This study applies the Amit and Zott’s (2001,2012) theoretical lenses to propose a new business model. This thesis uses a case study approach, which is based on qualitative data gathered from 2 semi-structured interviews with management of the fitness club and a survey with 16 club members. The gathered data were analysed through an abductive analysis approach and a thematic coding. The findings show that value creation achieves could be achieves throw satisfaction of customers’ needs and make conditions where company’s need will be also take into account. The first is that the customers want to have available, diverse and new training experience that can be achieved through a digital solution. The digital experience is their second wish. The third relates to the fact that customers want to keep a relationship with that fitness club. The fitness club, in turn, having a client-oriented model, aims to satisfy these needs, keeping a financial balance, since this is a profitable organisation. The proposed transformation of the business model foe fitness club will most likely attract more new members, and therefore will increase the financial flow by increasing the number of purchased subscriptions. Economic calculation to substantiate this statement is proposed as future research.
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