Friday, November 15, 2019

What’s Next? - 25A


Existing Market: 

I will focus on setting up the gym property and then marketing through various ways to attract young Millenials wanting to get healthier by going to the gym.


1. Joanna, age 32, suggested reaching out to local bloggers in helping me spread awareness of my gym through Instagram. Which is a great idea and one that I had already thought about since social media is the number one way to advertise these days.

2. Morgan, age 22, suggested I do a one-week free trial for people to try out the gym without committing to joining. I hadn't thought about free trials, but it seems like a great idea and a way for the community to see who we are and what makes the gym different than the others.

3. Kyle, age 29, said that I could also add a smoothie station because the profit would be good, and some people prefer protein shakes instead of energy drinks or protein bars.


The feedback and suggestions I received were all great and things I will implement to my gym. I especially loved the smoothie suggestions because it will be another way to make a profit and keep the members happy.

New Market:

Instead of focusing on young Millenials, I will focus on attracting the elderly community that wants to stay in shape and improve their health.

Norma, age 59, likes the idea of instructional videos in each section but wants there to be exercises that involve chairs or something that doesn't include her doing too much strain on her body.

Greg, age 62, wants to go to a gym where there are pool exercises because that's his favorite way to burn calories and doesn't involve rigorous training.



After interviewing these two individuals, I saw how different their needs and wants were from the young millennial market. It made me realize that I won't be able to cater to both at the same time because it would require more money on modified equipment and the addition of a pool and instructor.

Perhaps, in the future, I can open up a new gym but with an elderly client base. I don't think I've heard of any gym catering to that market before. I think it's one that would be highly profitable as well because the demand is there. When opening up a gym, researching and knowing who your demographic is, is a massive part of how successful the gym will be.






3 comments:

  1. Hi Fiorella,

    These interviews seem like they gave you great insight for your business! I think that what Joanna said about using Instagram as a marketing tool is a great idea because of how dependent everyone is on social media nowadays. I also think that Morgan's free trial idea is something to look into. It's almost like trying on clothes before you buy them- you want to see how you like the gym before committing to a membership. I love that you got such good ideas and are willing to implement them in your business! Great job on exploring the existing and new markets for your business.

    ReplyDelete
  2. Hi,
    Great work on this assignment. Targeting the elderly customers on the new market is a great idea. Many young people are more motivated to workout and get in shape than older people as they may get tired easily. Keep up the good work!

    ReplyDelete
  3. Hi Fiorella,
    From these interviews, I can see why your business ideas could not currently extend to a market that is not your original target. You have pointed out that elderly community have very specialized needs, I think it is extremely important to conduct an analysis showing feasibility of enter a niche market like you did.

    ReplyDelete

Final Reflection - 30A

1) Read through your posts from this semester. Recall all of the experiences you've had a long the way -- the highs, the lows -- the f...