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units with large industrial fans which uses significantly less power than that of air conditioning units.Furthermore, the concept 2 rowers and assault bikes have fixed fans inside of their units which run on kinetic energy produced through human use, this can ensure that the clients using such equipment can rely on the equipment itself to keep them cool instead of an air conditioning unit, not only is it environmentally friendly, but also motivates the client to work at a higher intensity e.g. faster rowing = more wind power. The major downside of introducing industrial fans instead of air conditioning units will be the fact that while fans can generate wind force, it cannot regulate the humidity and temperature of the gym, hence a large wind force will be of no use if the wind were to be warm or hot.20BUS12 BusinessAssignment v2.2 (2019/03/18)
The Market5.Complete each of the market components described in the following box.Market research Question.Answer.Who uses the products?Describe who your niche market are.Fitness patrons of all agesWho decided on the purchase?The decision maker; Husband, wife, mother, father.The decision maker or client him/herselfWho buys from me?Identify the characteristics of your current market? (If no current clients just leave blank)All individuals who are currently or is seeking a gym where they can receive tailored advice and training, while at the same time incorporating a family like atmosphere.Where do customers seek information?Online/ Offline/ Newspapers etc.Online, offline and newspapersWhere are potential customers?Are your customers residential or working? Where do they hang out?People of all ages who are willing to achieve afitness or health goal who live in the local area (usually within a 20km radius of the gym)What benefits do they seek?What are their goals, and obstacles?They seek the benefit of tailored training sessions and individual feedback from experienced fitness professionals.What price are they willing to pay?What are their incomes, what is affordable? (Great way to find this information is interviewingyour target market, for the assignment you can just estimate) They are willing to pay $60/week, the price is considered as experience however they will be paying for unlimited classes and personal training which will guarantee to help them achieve their goals. We do offer cheaper ratesto teens, discounts to students, families and emergency services. They are also free to cancel anytime, as there are no lock-in contracts.What is the demand for your product/ service?Is your target market a large niche? Are there many businesses currently servicing your niche?Demand will be low as our service is a large niche, there are few businesses locally currently serving our nicheWhat is unique about your product/ service?Why should your market buy from you?Our product is unique in a way that we offer specially tailored and designed programs for everyone through a different variety of 21BUS12 BusinessAssignment v2.2 (2019/03/18)