Business Research on the Gym Industry

Question: Discuss about the Business Research on the Gym Industry. Answer: Introduction The Gym industry offers people with facilities that are aimed at health management. The market analysis provides a researcher with accurate information regarding the market base in which a company operates. Corporate body fitness creates an important industry in the business environment. The Gym industry has significantly benefited from the recent consumer advancements towards maintaining an improved health (Cao and Peng, 2007, p. 11). In this report, the management of a particular Gym has conducted a market survey of its customers to perform a suitable analysis and propose a change to the business. The Gym recommends that baby boomers should sign up for health club memberships as they grow more health- conscious due to their age. The aim of the market survey is to find out whether the customers are interested in the change. Literature Review The Gym industry is one of the most competitive sectors as the Gym operators are faced with new market realities such as demographic changes, slowed growth in the economy, and advancement in technology. Many Gym firms seek to increase maintain the market base; this forces the management to assign more efforts in customers satisfaction by offering quality health services (Piazzesi and Schneider, 2009, p.145). When customers get satisfied with the Gym services, they express their contentment through sharing positive experiences to others; this serves as a channel for advertisement. The manner through which gyms are managed needs a change. People aged between 20 to 64 years form the largest demographic composition where Gym business thrives. As a result, the number Gym businesses have raised since more people value body fitness as being integral to their proper health maintenance. The rise and growth of Gym industry have created competition in the industry, surviving in the sector needs some change (Smith, Ng, and Popkin, 2014, p.130). Many customers have substituted to large and all inclusive associations where membership is given at a cheaper cost. Customers are the key determinants of whether a business would thrive or will not. Customer satisfaction relates to the age factor. The primary aim of Gym club managers attract potential and retain the current clients. The management needs to understand the needs and demands of the customers and to reduce services costs since this establishes a strong bond and customers loyalty to the services of the club (Streiner, 2013, p.110). Other than the age factor, the level of education and sex of an individual determines what kind of services that customer prefers. With the current health problems such as obesity, many people are going to the Gyms to do exercises which would help them reduce weight and maintain good health. Customer Survey Data Analysis From the literature review, some of the factors affecting customer satisfaction of the Gym services includes age, gender, and the level of education.The statistical survey of this study constitutes of all men and lady customers used to refer to physical body fitness Gym, all aged between 20-64 years. Two Categorical Variables Variables Independent (x) : Age Dependent (y) : Customer Satisfaction Y = a(x) Age (x) Customer Satisfaction (y) in % 20-29 95 30-39 96 40-49 97 50-59 98 60 above 99 Customers are of different age and the level of tastes and their preferences vary on their age group. People aged between 20-29 years have a feeling that the services offered at the Gym do not satisfy their needs fully and therefore supports the management's initiative to implement changes in the subscription to different health fitness groupings. The more aged people, especially above 60 years, do not see the essence of change since their confidence level to the Gym services is high. The trend of satisfaction increases with increase in age, this shows that the Gym management should offer subscription services to the young people below 30 years. One Categorical and One Numerical Variable Variables Age (x) Mean S.D 20-29 24.5 3.223 30-39 34.5 3.433 40-49 44.5 3.542 50-59 54.5 3.672 60 above * 3.71 Gender (x) Total Number/1000 Mean % S.D Male 550 55 0.765 Female 450 45 0.665 Graphical Analysis From this case, it is evident that more men are subscribed to the Gym services when compared to the number of female members. There is a significant relationship between gender and customer satisfaction for the high number of men shows that they are better of than women when it comes to the quality of services satisfaction (Bryman and Bell, 2015, p. 100). The feedback obtained from the women would apparently indicate that there is a need for changes to subscribe to better services whereas to men, change will not be so noticeable since their confidence level is above the sampling error of 0.5. Two Numerical Variables Ages Gender of Customers 20-29 30-39 40-49 50-59 Above 60 Number of Men 200 140 100 70 40 Number of Female 150 120 80 60 40 Graphical Analysis Based in this case, the survey relies on two binary variables, the age of male and female customers who attend the Gym. As observed, the number of men is higher than that of women clients who visit the Gym Club (Brooks and Hestnes, 2010, p.13). Also, the aged people attend Gym services in a lesser number than the youth. The study shows that there exists a significant relationship between the age factor and gender factor to the level of customer satisfaction. Managerial Advice Based on the survey data and analysis in the above section, the management needs to implement some changes in the manner by which they offer services to their customers. The study has examined customers satisfaction to the Gym services on age and gender factor (Zikmund, 2013, p. 200). The club is composed of members of varying ages and gender whose tastes and preferences on the Gym services differ widely. The Gym management should use gender segmentation strategy to offer services. As observed from the data variables above, people aged between 20-29 years have less confidence level in the quality of services provided by the management to them (Smith and Osborn, 2009, p.10). The management should design a unique program that will be subscribed by its customers to have access to all services so that under such program all the demands are met. Also, when it is coming to imposing a change in programs pertaining the aged people above 60 years, the management should initiate coaching and tuition programs that educate the aged on how to operate Gym facilities on their own (Lesjean and Huisjes, 2008, p.76). However, this would need additional subscription costs to this program. As observed, since the number of females attending the Gym are lesser than that of men, the management should initiate aerobic programs desired to make women reduce weight so that their confidence level rises. Also, this would be at a given cost. Imposing these changes would assist the management to improve the Club's productivity. Survey Analysis about Managerial Advice The total number of customers involved in the market survey were 1000. Based on the information given to the management that they should improve the quality of services with respect to gender needs and customers age factor, and at a given subscription cost, some clients support the change while others do not. The changes only favor people aged between 20-29 years and those aged above 60 years old. In between these two age brackets are other age gaps whose desires are not captured in the changes to be implemented. The population of people between 20 and above 60 forms 570customers and this creates exactly 57 percent of the Gym clubs market share. Merely 57 percent of the customers support these changes, and this shows confidence level is high. Only 43 percent of the customers do not support the change for it will not benefit them in health care maintenance. Conclusion Customers are the most important stakeholders of the business. Given that the clients are treated as the most valuable assets of the firm, the management always tries to satisfy their needs and demands in the most efficient manner. The Gym sector is affected by various factors which determine its success and this incude age, gender, and education level. The confidence standards of the customers on the services offered in the Gym affects its overall productivity. Therefore, Gym clubs should respond to customers needs and demands and always seek to provide quality services to them as at and when required. Abuse of Statistics The samples used in statistics may not be representative. It assumes that the feedbacks collected from sample population represent the opinions of the total population in a given industry (Brooks and Hestnes, 2010, p. 12). However, this is false as the samples cannot be fully representative of the feelings, ideas, opinions, and attitudes of the other people not sampled. The sample sizes used are only based on the entire population estimate. Statistics use sample sizes which are estimates of the population in a given setting (Donner and Zou, 2010, p.56). The exact number of individuals composing a community cannot be accurately known, and thus this assumption abuses the importance of statistics. Limitations of Quantitative Research Quantitative research requires large sample sizes. However, due to inadequate resources, the large-scale research methodology gets impossible. Also, the researcher may lack enough skills to conduct the research with the insufficient resources. Quantitative research is tough to analyze (Castro et al., 2010, p. 345). This is because the research methodology never fits properly in all standard categories. Further, the findings of the investigation cannot be generalized to the study community in the given sector (Gym). There is an improper representation of the targetted population. 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