3 page business proposal that analyzes the business topic
El iit Ji PInoys sascinosai asay | “Suniapy ‘SISAjeue JnoA wuoyu 0] ui ‘Ajiunpioddo Jo 28 ASSESSMENT 1 1 MBA-FPX5910 Assessment 1 By Gina Williams ASSESSMENT 1 2 Introduction Peloton was founded in 2012 and quickly became known across the world for their famous stationary fitness bikes in combination with technology. The goal was for their users to enjoy a boutique fitness experience in the comfort of their own homes. After their initial success, they later added other technology-based fitness equipment. The current market cap for the company is $1.5B and their market shares are at $4.24. The company is currently looking for ways to increase their sales and increase their revenue. One idea to gain this increase of revenue would be to partner with another company and provide another product. In this summary we will look at the potential of partnering with Tiktok. The idea of a partnership between Peloton and TikTok offers an intriguing chance to use the advantages of both platforms in the ever-evolving world of social media and fitness technology as a means to expand revenue sources. Peloton, known for its cutting-edge approach to at-home workouts, might collaborate with TikTok's extensive social media following to produce a distinctive and captivating user experience. The goal of this project is to examine the possibilities of this collaboration to grow revenue for Peloton by investigating how the combination of TikTok's social media platform and Peloton's fitness technology could revolutionize user engagement, provide new income streams for both businesses, and redefine user engagement. The information will be provided by published sources. Peloton is a publicly traded organization so financial data can be readily located from sites such as Yahoo Finance, Nasdaq, CNBC and many others. Using available industry analysis of other exercise equipment companies in comparison with Peloton will also give insight as to how pairing with a social media platform can make them stand out and grow their revenue. ASSESSMENT 1 3 Finding financial information on Tiktok may pose a challenge as they are not a publicly traded organization, however information such as how many subscribers they have and how they make their money can be readily located online. Statement of Scope The scope of this project is to look at the proposed partnership of Peloton and Tiktok as a means of increasing revenue for Peloton by using industry analysis and current financial data to determine Peloton’s current state, and then investigate how adding in Tiktok’s vast platform of users can increase interest and revenue for Peloton. This is a large-scale partnership that includes TikTok's social media platform integrating Peloton's workout technologies (Clavio, Metz & Walsh, 2023). Users would be able to effortlessly share their fitness trips, accomplishments, and training regimens on TikTok, which would improve the social component of their fitness experiences. In order to increase brand awareness and promote user acquisition, the partnership also looks at marketing and advertising possibilities. Sponsored challenges, in-app purchases, and cross-platform campaigns will all be investigated. The goal of these two platforms' strategic alignment is to provide a comprehensive ecosystem where fitness enthusiasts may share, inspire, and foster a feeling of community in addition to participating in their training regimens. The alliance aims to develop a mutually beneficial connection that transcends the boundaries of traditional collaborations, rather than just integrating technology. Demonstration of Outcomes Enhanced User Engagement: Peloton's connection with TikTok adds a new level of interaction to users (Mintz, 2022). Peloton users can easily share their workouts with others on TikTok, creating a vibrant and engaged community. In the end, this fitness ASSESSMENT 1 4 content exchange improves the user experience by encouraging a positive feedback loop and acting as a motivating resource for others. Opportunities for Content Creation: Numerous potential for content development arise from the partnership. On TikTok, Peloton instructors and consumers may produce and distribute interesting content about exercise. On TikTok, a thriving fitness ecosystem may be created through the dissemination of challenges, lessons, and inspirational shorts. This positions both platforms as centers for wellness and lifestyle in addition to drawing in new consumers interested in fitness content. Cross-Promotional Marketing: Peloton may increase its exposure and reach by utilizing TikTok's advertising platform (Andjelic, 2020). Peloton's goods and services may generate interest and exposure through cross-platform marketing campaigns, in-app promotions, and sponsored challenges. In addition to helping Peloton, this cross- promotional approach improves TikTok's standing as a platform that offers a wide range of trends and interests. Data Insights and Analytics: Peloton and TikTok may access a wealth of data insights and analytics thanks to this partnership. Analyzing user behavior, preferences, and trends may help to improve product offerings, market strategies, and the user experience in general. Combining data from two different platforms can result in a thorough picture of how a group of tech-savvy and health-conscious users' tastes are changing over time. MBA program outcomes The partnership between Peloton and TikTok, the topic of choice, offers a fantastic chance to highlight leadership qualities by showcasing a number of MBA program results: ASSESSMENT 1 5 Use fundamental knowledge and comprehension of business systems, procedures, and technology both inside and between key disciplines: Understanding the fundamentals of social media (TikTok) and fitness technology (Peloton) and successfully combining them into a cooperative endeavour are examples of leadership. In order to establish a cooperative relationship, this calls for a thorough comprehension of both industries and the capacity to apply fundamental knowledge. Integrate information from varied disciplines and perspectives: Effective leadership entails integrating information from several disciplines, such as the social media and fitness technology industries in this instance. In order to ensure a smooth integration that is advantageous to both parties, successful collaboration requires the capacity to reconcile divergent viewpoints. To create evidence-based solutions for business opportunities and issues, apply critical and analytical thinking: Leaders assess opportunities and challenges seriously and base their judgements on factual information. In this project, leadership is demonstrated by critically examining the possibilities and problems in the fast-paced social media and fitness industries and coming up with solutions that are supported by data. Apply creative, strategic, and sustainable methods to corporate planning and operations: Creative thinking and the capacity to create strategic, long-term solutions are traits of leadership. The project exemplifies leadership by putting up a plan for cooperation that not only establishes the relationship but also makes sure it lasts over time by adding unique features to make a splash in the marketplace. Lead and cooperate in virtual, global, and culturally varied situations: Effective cooperation in different surroundings is a crucial aspect of leadership in a global context. ASSESSMENT 1 6 In order to manage teams and work in a virtual, international, and culturally diverse context, the Peloton-TikTok partnership requires leadership abilities. This demonstrates the capacity to successfully manage complexity and manage teams. Integrate integrity and ethical ideals into business decisions: A dedication to moral business conduct defines leadership. In this project, leadership is exhibited via maintaining ethical standards in all decision-making processes and making sure that collaboration is in line with integrity ideals. This demonstrates a dedication to ethical business practices. Through the Peloton-TikTok partnership, each of these MBA program goals is addressed, and as a result, the project successfully demonstrates leadership skills in a complex corporate setting. Knowledge, critical thinking, creativity, international cooperation, and ethical concerns all work together to emphasise the leadership abilities required to navigate challenging possibilities and complicated obstacles in today's corporate environment. Conclusion The planned partnership between Peloton and TikTok turns out to be more than just a technical integration; it turns out to be a strategic alliance with the potential to completely change the social media and fitness scene. The results go much beyond simple user interaction; they include a comprehensive strategy for creating content, cultivating communities, and generating income for both parties. As the digital age progresses, firms must engage in creative partnerships in order to remain competitive and relevant. The suggested collaboration acts as a guide for companies seeking to broaden their horizons through collaboration with organizations ASSESSMENT 1 7 from other sectors. With Peloton and TikTok, social media and fitness combine to form a symbiotic connection in which users actively participate in the growing ecosystem rather than only being customers. The capacity of this partnership to smoothly incorporate exercise into consumers' social life is what gives it promise. It recognizes how consumer behavior is changing in favor of holistic well-being and the growing need for linked experiences. By embracing this change, Peloton and TikTok present themselves as enablers of a lifestyle that is focused on community, wellness, and self-expression rather than merely service providers. In summary, Peloton and TikTok's joint venture exemplifies the spirit of creativity and adaptability needed in the fast- paced corporate world of today. The results shown here demonstrate the effectiveness of strategic partnerships in influencing industry trends and serve as markers of successful integration. Setting an example for companies ready to venture into unknown territory, Peloton and TikTok's journey demonstrates how the combination of technology and social interaction can produce a harmonious synergy that transcends individual platforms and alters sectors. ASSESSMENT 1 8 References Andjelic, A. (2020). The Business of Aspiration: How Social, Cultural, and Environmental Capital Changes Brands. Routledge. Clavio, G., Metz, K., & Walsh, P. (2023). Visual Social Media Usage and Human Branding Approaches by Peloton Instructors. In Social Media in Sport (pp. 123-143). Routledge. Mintz, O. (2022). Second Quadrant: New Customer Markets. In The Post-Pandemic Business Playbook: Customer-Centric Solutions to Help Your Firm Grow (pp. 81-92). Singapore: Springer Nature Singapore. Introduction Statement of Scope Demonstration of Outcomes MBA program outcomes Conclusion References