Business & Marketing for the Fitness Professional

Session 3

Researching your Business Idea

Session Objectives

By the end of the session you should be able to:

•Identify the role that research can play in answering key questions about your customers and the market place.

•Demonstrate the use of various types of questioning suitable for creating a primary research survey or questionnaire

Researching your Business Idea

Recap - The Marketing Mix

• Product (or service) offered

• Price

• Place

• Promotion

Researching your Business Idea

Why Is Research Important?

Many people still set up business today without giving consideration to market research.

• Finding out about the marketplace• Who the potential customers are?• Who the competitors are?

• The current trends.• The customers wants and needs?• Financial climate?

What Is Market Research?

There are 2 types of research that can be carried out to assess the risks and needs of a new business.

PRIMARY RESEARCH – data that is collected for the first time.

SECONDARY RESEARCH – data that has already been collected via other sources.

Primary Research

Primary research seems to be more beneficial however the costs and time required to undertake primary research can sometimes outweigh the benefits.

Qualitative research – focuses on the attitudes and opinions of customers (what do you think about…..?)

Quantitative research – focuses on more statistical aspects of customers (how many times a week do you….?)

Primary Research

Primary research can be conducted in a number of ways the most popular is via a survey or questionnaire.

The primary research you may have come across are mainly in the form of:

• Interview (face to face)• By telephone• Via the post

Wording Questions for Surveys

If you asked the question:

“If I were to offer Personal Training Service in this area at a cost of £20 per hour, would you be interested?”

You may get a good response (people have good intentions and may want to make you feel good and so will give an answer you want to hear)

However when it comes to parting with £20 this might be a different matter!

Try to make questions as specific as possible and build in a margin for error.

Asking Questions

There are various ways to ask questions.

Open questions – start with ‘who, where, when, how etc

(Where do you normally go to exercise, How often do you exercise?)

Closed questions – Invites a yes/no response.

(Do you like exercise? Do you go to aerobic classes?)

Asking Questions

Multiple Choice questions – easy to answer for specific questions.

Quantifying questions – attaching figures to facts

(What would be the highest price you would pay for a personal trainer?)

Ranking questions – providing a strength of opinion (On a scale of 1 – 10 how important is exercise in your

life?)

Putting Together a Survey – Tips

To put together a well designed survey, remember these important tips.

• Keep it simple• Select the relevant types of questions• Avoid personal questions• Use a logical sequence• Try not to repeat questions• Don’t ask too many questions• Avoid leading questions.

Task in Pairs

You have 20 minutes to design a questionnaire or survey.

You need to include questions that will allow you to find information for the product you designed last session.

Keep in mind the marketing mix 4 P’s

Product – Price – Place – Promotion

If you were absent last session you must use yourself as a personal trainer as the product for today - and then design a new innovative product in your own time for the next session

Evaluate The Surveys

Stick up your questionnaire or survey up an the wall behind you………

Group analysis of the surveys produced.

An Example

ELITE Personal Training - Exercise & Fitness Questionnaire We would appreciate it if you could spare us a couple of minutes of your time to help us understand the exercise needs of the people in this area. 1. What is your postcode? 2. What is your age group? 18-25 25-40 40–50 50+ 3. Do you currently do any exercise? YES NO 4. If NO are you considering starting any exercise? YES NO 5. Where do you do your exercise? GYM HOME PT 6. Would you pay for a Personal Trainer? YES NO 7. If YES how much would you pay > £15 >£25 >£35 for a quality friendly service? 8. Would you feel more comfortable with a trainer YES NO closer to your own age? 9. Have you or anyone close suffered heart problems? YES NO 10. If YES would you/they consider improving NO Maybe their health by using a personal training service that specialises in Cardiac Care? YES Need Info If you would like more information leave your number and one of our specialist trainers will give you a call and answer any questions you may have. Your Phone Number (Inc Code)___________________________________ ~~~~~~~~~~~~THANKYOU FOR SPARING US YOUR TIME~~~~~~~~~~~~

Session Summary & Next Session

• Identified 2 types of research Primary & Secondary• Identified various ways to carry out primary research• Demonstrated the use of various types of questions

used in surveys for receiving valid responses.• Critiqued the surveys produced.

• Next Session• Market Segmentation• Market Targeting