Cardio Infrared Technologies, Inc. was formed in April of 2007 to develop, manufacture, and market a new Technology for the Health and fitness industry. The health and fitness industry is growing exponentially because of the aging baby boomers. The health and fitness is a $61 billion a year industry. There are fewer than 100 manufacturers of fitness equipment that operate in the US, with combined annual sales of about $3 billion. Large companies include ICON Health & Fitness, Nautilus, Life Fitness, Precor and Cybex.
Competition and market as outlined by Market Research, said that demand is driven partly by consumer income and partly by demographic trends. The profitability of individual companies depends on unique product designs and effective marketing. Large companies have some advantages in brand-name recognition, but small companies can compete effectively by making a unique product.
Major products in the market are motorized treadmills, stationary bikes, stair climbers, rowing machines, and elliptical “cross-trainers,” collectively called aerobic exercisers; and weightlifting machines and traditional weightlifting equipment. This equipment allows individual to exercise by themselves in a limited space. The two major market segments for fitness equipment are the home and the institutional exercise equipment market (including health Clubs, corporations, apartments, and hotels). The home market is by far the largest and has grown significantly in the past decade. Products are made and marketed separately for the two segments; many manufacturers produce for only one.
In the last few years the home market has accepted and embraced high-end spatiality exercising equipment. The ROM machine has been on the market for the last 10 years with a price point of $14,615. They are currently selling about 170 units per month and have a 7-week backlog. This equipment is currently being sold primarily to the home market. Again it is a unique product with an effective marketing program.
Competition and market as outlined by Market Research, said that demand is driven partly by consumer income and partly by demographic trends. The profitability of individual companies depends on unique product designs and effective marketing. Large companies have some advantages in brand-name recognition, but small companies can compete effectively by making a unique product.
Major products in the market are motorized treadmills, stationary bikes, stair climbers, rowing machines, and elliptical “cross-trainers,” collectively called aerobic exercisers; and weightlifting machines and traditional weightlifting equipment. This equipment allows individual to exercise by themselves in a limited space. The two major market segments for fitness equipment are the home and the institutional exercise equipment market (including health Clubs, corporations, apartments, and hotels). The home market is by far the largest and has grown significantly in the past decade. Products are made and marketed separately for the two segments; many manufacturers produce for only one.
In the last few years the home market has accepted and embraced high-end spatiality exercising equipment. The ROM machine has been on the market for the last 10 years with a price point of $14,615. They are currently selling about 170 units per month and have a 7-week backlog. This equipment is currently being sold primarily to the home market. Again it is a unique product with an effective marketing program.