Bounce Fitness Research Log: Strategies for Growth and Innovation

RESEARCH LOG Completed by Sitthipong Date Completed 25/04/23 Workplace/Organisation Bounce Fitness Business Objectives 10% growth in revenue and profitability for the upcoming fiscal year Obtain more senior citizens as Bounce Fitness clients by launching an experiment that will last six months..

Resource Requirements Sources of Information Type of Source Information Gathered Analysis Business Plan Internal documents Brisbane-based Bounce Fitness was established to offer personal training. Their popularity has led to the emergence of additional services and locations. The largest shopping complex in the city is situated inside or close to The Centers. With ample of parking, child care, a coffee shop, and public transportation, it is easily reachable. On the other side, Bounce Fitness will provide instruction at a client's site. A significant selling point for Bounce Fitness memberships has been the price. Due to advantageous leasing agreements for its buildings and equipment, as well as its low overhead, Bounce Fitness is able to offer a lower-cost membership option. Bounce Fitness sets itself apart from the competitors in part thanks to its all-encompassing approach, Ms. Due to its emphasis on meeting unique client requirements, staff attention and follow-up, as well as its exciting and thrilling new programs blended with inventive new concepts, the House- developed Bounce received early acceptance. Now that life counseling, remedial massage, and other health therapies are more readily available and more convenient for them, more people are attending the Centers. Purchasing Policy Internal documents Any purchases must first receive the General Manager of Finance's approval. All service purchases and expenses must be documented with a purchase order. An exemption only applies if the General Manager Finance has a documented contract or agreement on file. Purchase orders must be issued before any purchases may be made. Based on user reviews, product accessibility, and prior collaboration with bounce fitness, the vendor will be selected.

Monitoring Processes Sources of Information Type of Source Information Gathered Analysis Business objectives Organizational documents At the end of the fiscal year, increased gym membership sales cause a 10% increase in sales. By introducing marketing strategies every three months, you can increase market penetration by 15%. By using the USP technique, you may cut your client acquisition costs by 4% every two quarters. Consumer spending and income will rise as a result of the inclusion of new exercise sessions. New product development Internal – organizational documents Describe the objectives of Bounce Fitness and the strategic positioning of the new service or product to gain a competitive advantage. Install a system to assist in making decisions in order to standardize new goods or services. Find out how much of a market there is for new goods or services. Develop a sales forecasting strategy that accounts for the way the market will respond to novel goods or service possibilities. Describe the goals of Bounce Fitness and the tactical thinking behind the new service or product. Be able to change to fit your surroundings. Analyze the level of interest in novel goods or services. Be ready to adjust frequently in order to offer fresh goods and services. Standardize the creation of innovative products and services to encourage business adoption. Create a product or service launch that takes advantage of current markets and supports the strategic positioning of the new product or service. Launch the new product or service venture and track its progress. Progress report Internal – Organizational documents Teams and employees at Bounce Fitness must be ready for the constant To standardize, put in a new decision-support system. estimating a

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change required to produce new products and services. To make the process of creating new products or services recognizable as an organizational activity, standardize it. new product or service's market potential Define the control chart for the financial forecasting of the new product. Start by implementing test marketing. Add more rows as needed.

RESEARCH LOG

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