Forever Fitness will enter into Brisbane’s already thriving fitness industry, a market that has been steadily growing as the population’s interest in keeping fit and healthy increases. However, while a vast majority are gyms and clubs with a wide audience, there is not much of a provision of establishments focusing on the needs of the elderly, as mentioned previously with Green Apple Wellness Centre in Bald Hills being the only registered elderly fitness centre in Brisbane.
Through segmentation of Brisbane’s fitness market into geographic, demographic, psychographic and behavioural groups, BMC has identified this as a relatively untouched sector of the market, which leaves a good opportunity for success for Forever Fitness. As the business is located in Graceville, Forever Fitness’ target market will be geographically segmented so as to primarily service residents living Brisbane’s south side, in suburbs such as Chelmer and Mt Ommaney, as well as those living in nearby suburbs to the north of the river, such as Toowong and Kenmore.
Demographically, the target market has been identified as residents in the age bracket of 65 and over, and is not gender, nationality or religiously specific. While this is the current demographic focus for Forever Fitness, an expansion of the existing rehabilitation services to facilitate for all age groups will be considered depending on the results of the current approach, widening the target market significantly.
The Essay on Fitness Market Analysis
Industry/market Industry: How many fitness centers? What’s their revenues? Profit margins? Is it growing? Concentrated or not? Market: PMB, attendance, consumer spending, Statistics Canada (average spending) General Trends: Growing? Health trends? Key Competitors: other popular gyms in the area (Nautilus, Progym, energy cardio) The Fitness Market The fitness market is very large and keeps growing. ...
In terms of psychographic segmentation, Forever Fitness will target residents who have a desire to stay fit and live a healthy lifestyle, and will cater for a variety of social classes. Along with this, the business will provide for residents who wish to socialise and meet new people, and feel part of a group or team environment, particularly those who live alone. The final factor influencing the segmentation of Forever Fitness’ market is Behavioural. As stated previously, the business will be targeted towards people who possess a desire to get fit and healthy, however this will also include those who have some specific needs, such as recovering from injury or illness as well as offering rehabilitation.
