Business Studies Marketing Strategy - The fitness House.

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Richard Coppock

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 be located
  • What specific items the business should provide
  • And how much money people are willing to pay for the service

In general, there are four main types of market research that any one business could carry out at any point in order to find out the information stated above:

  • Descriptive – To identify what is happening now. For example is the market increasing or decreasing, or how are our customers (potential or otherwise)?

  • Predictive – To identify what is likely to happen in the future.

  • Explanatory – To establish why something is happening. For example why has there been a drop in sales?

  • And Exploratory – To investigate new possibilities. For example through product trials and test marketing.

As well as initial research, marketing and advertising must be taken into account. As this business is the first step of the company, not much capital is available to promote the gym. Thus, cheaper methods must be used. (i.e: local newspapers instead of country-wide ones, or smaller posters instead of huge billboards)

For the Fitness House Gym, I will hope to carry out two different types of research:

  • Primary Research – Data does not already exist, ‘first hand’ data that is manually recorded by the user
  • And Secondary Research Data that does already exist, ‘second hand’ data that has been previously recorded by another person

There are advantages to both of these methods. The following table is a list of advantages in relation to disadvantages for Primary Research:

First of all, I will use Field Research, a sub-section like method of Primary Research to record the general publics personal attitudes towards a new gym (where it should be located, how much to charge, what services to provide etc). There are several different methods within field research I could employ to collect the same information from the public (or potential customers).

The following is a list of field research methods that I could use to provide my data on the Fitness House Gym:

  • Telephone surveys
  • Postal surveys
  • Consumer Panels
  • One to One (face to face) interviews
  • Prototype (test) marketing

It is likely that all of these methods will be used to find the appropriate results in regards to the gym, with the exception of test models. This is due to the fact that as it is a gym, there is not really a product as such for the consumer to take home and test out.

Out of these methods, the questionnaire is likely to be the most important one. This is because it is relatively cheap and easy to mail (or hand) out the questions and it does not take a lot of time to do so. The following is an example of the first version (or pilot) of the Fitness House Gym public questionnaire.

Pilot Questionnaire:

Fitness House Gym Questionnaire

[Pilot Version One]

Thank you for taking the time to read this questionnaire!

Join now!

All we ask is for you (our primary concern) to fill out this brief questionnaire and then mail it back in the return envelope included, free of charge. In thanks for doing this, Fitness House Gym will provide 50 random entries with the choice between a six month subscription to the future gym, or a Fitness House Gym all weather jacket.

Through this questionnaire, we hope to grasp a better understanding on the community as a whole along with your personal wants for a new gym center. Please answer the questions provided as truthfully as you can as ...

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