Question 1: Assume that there are a total of six different market segments for the fitness center market. Take reference from the listed overview of the markets and answer the questions give below. Overview: Making friends: The “making friends” market segment sees fitness centers as an opportunity to mix with people with similar goals and lifestyles and to make new friends. Losing it: The next market segment is “losing it”, which refers to the goal of losing weight. Taking shape: The “taking shape” market segment consists of consumers who are primarily interested in improving the look of their body. Peak performers: Consumers in the “peak performers” segment are highly disciplined and self-motivated individuals when it comes to their health and fitness. They are highly focused upon achieving their personal best. Health requirements: Consumers in this market segment attend a fitness center because they are trying to improve their health, strength, or because of “doctor’s orders”. Sports focus: This segment is those consumers who are heavily involved in sport and use a fitness center to help improve their fitness in order to participate in their chosen sport. Questions: Review the above market segments and identify which segments would make attractive target markets for fitness centers in Pakistan. Why do you think these would be the most attractive target markets? Is it possible to target multiple target markets with the one fitness center, or should you look to specialize and target one customer segment only? Why?
Breakeven Analysis
Break Even Analysis is a term used in business, cost accounting and economics. It refers to a point where the total cost incurred becomes equal to the total revenue earned. Break Even Analysis determines the number of units to be sold to earn the revenue required to cover the total costs. Total cost is a sum total of fixed and variable costs.
Process analysis
The term process analysis can be defined as breakdown of production process into different phases that converts inputs into output. A series of routine activities are incorporated using organizational resources with a view to achieve operational excellence.
Question 1: Assume that there are a total of six different market segments for the fitness center market. Take reference from the listed overview of the markets and answer the questions give below.
Overview:
Making friends: The “making friends” market segment sees fitness centers as an opportunity to mix with people with similar goals and lifestyles and to make new friends.
Losing it: The next market segment is “losing it”, which refers to the goal of losing weight.
Taking shape: The “taking shape” market segment consists of consumers who are primarily interested in improving the look of their body.
Peak performers: Consumers in the “peak performers” segment are highly disciplined and self-motivated individuals when it comes to their health and fitness. They are highly focused upon achieving their personal best.
Health requirements: Consumers in this market segment attend a fitness center because they are trying to improve their health, strength, or because of “doctor’s orders”.
Sports focus: This segment is those consumers who are heavily involved in sport and use a fitness center to help improve their fitness in order to participate in their chosen sport.
Questions:
- Review the above market segments and identify which segments would make attractive target markets for fitness centers in Pakistan. Why do you think these would be the most attractive target markets?
- Is it possible to target multiple target markets with the one fitness center, or should you look to specialize and target one customer segment only? Why?
Course Name: Marketing Planning & Application
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