• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11
  12. 12
    12
  13. 13
    13
  14. 14
    14
  15. 15
    15
  16. 16
    16
  17. 17
    17
  18. 18
    18
  19. 19
    19
  20. 20
    20
  21. 21
    21
  22. 22
    22
  23. 23
    23
  24. 24
    24
  25. 25
    25
  26. 26
    26
  27. 27
    27
  28. 28
    28
  29. 29
    29
  30. 30
    30

Business Studies Marketing Strategy - The fitness House.

Extracts from this document...

Introduction

GCSE Coursework Business Studies Marketing Strategy GCSE Coursework Business Studies - Marketing Strategy Index: Introduction --- Page 2 Methods of Research --- Page 3 Pilot Questionnaire --- Page 5 Conclusion of Pilot Questionnaire --- Page 9 Final Questionnaire --- Page 10 Conclusion of Final Questionnaire --- Page 15 Alternative Research --- Page 16 Impact on the community --- Page 17 Results of Questionnaire --- Page 18 Overall Summary --- Page 26 Introduction: The Fitness House is a new gym that is being set up. In order to ensure the survival of this new business, plans must be implemented and business strategies developed. In order to set up a new business, information about the potential customer base and their demands must be recorded. Such things as what equipment to provide, what times to operate and even how much they are willing to pay. This information will be recorded from the responses of the public. As an alternative some data could be purchased from government records if select information cannot be found, but it is likely to be easier, cheaper and possibly quicker to include most questions in with any kind of survey. One of the first things that must be carried out is market research. This is to gather an idea as to what type of survey to send out, how to word it and what information I could expect to receive back. Also it will give an idea as to what questions to ask. Methods of Research: The following is the definition of market research: "The collection, collation and analysis of data relating to the marketing and consumption of goods and services" Market research is necessary for any new business as not only gives an idea of want the public wants for this new enterprise are, but also shows the new potential company owner a whole new world of information, among which including: - If there is a demand for this type of business in the area - Where the new business should ...read more.

Middle

(e.g. a restaurant, social activities (such as aerobics or organized cycling) or even hiring professional trainers to coach you) _______________________________________________________________________________________________________________________________________________________________________________________ This is the end of the questionnaire, thank you for participating. Conclusion of Final Questionnaire: I gave this final version of the questionnaire out to 50 people in order to get a large amount of results that are relatively varied and should provide me with enough data to set up a gym that successfully fulfills the public's needs. From this questionnaire, I have learned: - How much people expect to pay for a new gym in their area - What equipment they want - What (if any) incentives are needed or wanted to encourage people to join - What facilities customers want - Where (what location) they want the gym - What time they will use the gym - And where to advertise to get more customers in the future These factors are important because without these basic facts, I would not be able to anticipate for any of the demands of the customers, or what services to provide in the gym. This is why it was necessary to learn this information. Also as an alternative to questionnaires, I could have gathered my market research through phone surveys, interviews, or consumer panels. Whilst these methods would also provide similar results, they would take longer or cost more, so I have not focused in so much depth on these aspects. This is why instead, I produced a questionnaire. Also, it must be noted that if this was a real business, it is likely that more than 50 questionnaires would be given out because in most cases under half of those given out are actually returned. Alternative Research: As another method of research, I traveled to a sports shop in Orchard Road (one of the key shopping points in Singapore) in order to ask the shop owner some questions about the business. ...read more.

Conclusion

Quite often, it is often the second most popular choice that is the best solution as it is still one of the favourites, but it is likely to be much cheaper than the number one choice. After researching the pricing for all three methods, I decided to advertise in sports and fitness genre for magazines, as this is clearly the more obvious choice when opening a gym. It is not the cheapest available, but as the all the readers will be potential customers as opposed to maybe 25% or maybe even lower in other magazines, it is definitely worth it. For TV channels I chose channel 5, as it is reasonably popular (all of the TV channels are) and as it is a local channel (meaning that you do not have to pay for cable TV to get it, it comes for free). Thereby it is likely to have a wider audience base overall, possibly providing a wider audience in regards to sporting and exercise gyms. Also, there is no dedicated 'fitness' channel, so this is not an option. For Radio stations I chose to advertise on 98.7FM. As shown in Graph M it is the most popular out of the radio stations selected and as any advertising done on the radio costs the same, no matter what channel I will use this station purely based on its popularity. Radio is always a good means of advertising for new companies as it is relatively cheap and very local, meaning that it can attract the customers that want to go but just don't know about it. Overall I have managed to gain a lot more marketing knowledge from this questionnaire. Through the above results, I will be able to advertise the business and then focus on actually buying the equipment and then pulling all the sections of the plan together. The marketing segment of any new business is a vital one, as even though the company may have a great niche product, if no one knows about it, then it is destined to fail. Richard Coppock ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level ICT in Business essays

  1. Marked by a teacher

    Unit 4 Business Studies

    4 star(s)

    The main feature of the website is the search box which searches the entire Autotrader database for the type of car a customer may want to look for, for example if a customer wants to look for a Vauxhall Astra then they just have to fill in the make box

  2. Business options

    This is possible one of the best internet security packages suited for the network because of these features. However there are some faults which can not be ignored. The technical support team is still lacking and when there are

  1. Business Internet marketing

    These systems include all the processes which might involve the customer from handling the delivery of a product, ordering an out of stock item, accepting the return of a faulty product, undertaking a repair and dealing with a complaint. It happened too frequently that customers are required to complete complicated

  2. E-commerce in Business Companies of Bangladesh.

    1980s in Bangladesh and information has been the strategic partner in its phenomenal growth. Telex was the only tool of cross border data communication in those days. International courier services were the means of receiving the approved designs from the buyers.

  1. Free essay

    Marketing Strategy for Errol Anderson Motors - Chapter 2: Market research that could be ...

    because it is free and not unique, any business may use it, and the advice is not as special and specialised as paid business advice. Observation Errol could use a very cheap and efficient method of research known as observation.

  2. Business Idea

    or a premiership football game, the rugby will prevail as it is a bigger and more important game. Tennis is not likely to be shown, as not only is it not as popular as the other sports as it shows, but also it is not as exciting and I doubt it will attract the drinkers, same goes for the cricket.

  1. unit10 final account

    This chart is showing that many people were involved in the tertiary than the primary and secondary sector. UNITED KINGDOM EMPLOYMENT BY SECTOR IN 1989-1997 SECTOR 1989 1991 1993 1995 1997 PRIMARY 4.91 4.60 4.27 2.31 1.55 SECONDARY 27.03 24.24 22.64 22.05 22.55 TERTIARY 68.96 71.16 73.09 75.62 75.9 The

  2. gcse business studies

    around the area, I researched this to see what competition I was up against and how I will fight this competition off. There is no competition within the area I am targeting to get customers which is a bonus as I will be able to charge my own prices without pressure off any other paintball centres.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work