Marketing Essay Example | Topics and Well Written Essays - 2500 words - 28

Marketing - Essay Example The growing interest in health and fitness may be viewed as an offshoot of the increasing modernization and affluence in lifestyle, particularly in the urban areas. Evidence of the importance accorded personal fitness and well-being is the growth of this industry for the tenth consecutive year; according to the 2010 FIA State of the UK Fitness Industry Report, 122 new facilities opened across the country during the 12 month period ending in 31 March 2010. Although national GDP contracted by a record 4.9% for the same year, the fitness industry remained strong at â‚ ¤3.8 billion, with 7.4 million members and growing (The Leisure Database Company, 2007). Because of the strong competition and the potential buyers into this particular service, there is a need for well-managed marketing management to bring the company to customers’ attention. Marketing is â€Å"the commercial process involved in promoting, selling, and distributing a product or service† (Princeton University, 2011). The aim of marketing is to provide information and encouragement for those who would benefit particularly from the services provided by Bodyproud Fitness, that is, those who would find the company’s geographical location, price range, and product offerings appropriate for their particular needs. In the case of Bodyproud, marketing research would include a more precise estimation of the company’s potential demand for the various products it offers – gym, aerobics and yoga, and nutritional advice. This estimation includes a more thorough description of its target consumer profile, in terms of demographics, statistics, and future trends. It requires a determination of the affordable price range, the preferred product features, and the possible future likes and dislikes of the said market. (For price, Bodyproud may have to adjust its $100 initial and $500 monthly fee, depending on its research update.)