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A chain of fitness centres in the city is used by office workers - HSC - SSCE Business Studies - Question 25 - 2007 - Paper 1
Question 25
A chain of fitness centres in the city is used by office workers. The owners plan to open a new branch in a shopping complex in a new suburb. (a) Identify ONE possi... show full transcript
Worked Solution & Example Answer:A chain of fitness centres in the city is used by office workers - HSC - SSCE Business Studies - Question 25 - 2007 - Paper 1
Step 1
Identify ONE possible target market for the new branch.
Answer
One possible target market for the new branch is stay-at-home parents. This group may be interested in fitness facilities that accommodate their schedules, allowing them to work out while their children are engaged in nearby activities.
Step 2
Describe a market research process appropriate for the new branch.
Answer
A market research process appropriate for the new branch could involve several key steps:
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Identify Information Needs: Begin by determining what information is needed to understand the potential customers in the new suburb—such as demographics, preferences, and fitness habits.
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Conduct Data Collection: Utilize both primary and secondary data collection methods. Primary methods may include surveys and focus groups with local residents to gather direct feedback. Secondary methods can include analyzing existing market research reports and fitness trends in similar demographics.
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Data Analysis and Interpretation: After collecting the data, analyze it to identify key trends and insights. This could involve segmenting the data by different demographics (age, income level, etc.) to better understand the target market and their specific fitness needs.
Through this structured approach, the chain can effectively tailor its offerings and marketing strategies to meet the needs of the new branch's target audience.