Market Research Presentation
Transcript: Research firm that provides descriptive research and collects qualitative information to measure the 5 W’s by creating surveys via social media apps and electronic methods. Once results are analyzed, NJCC will be able to provide an accurate market analysis and offer potential ways for the partner company to grow. Questionnaire and response bias Unrestricted population - data may be skewed because of athletes Lack of “callback” procedures Sampling error Low response rate Limitations Tend to feel average in weight, tone level, muscle, fitness, and conditioned body Agree exercise is important Goals Maintain health Tone Lose weight Very interested in following a home routine workout Amount willing to spend on workout program $1-$50 $50-$100 Student Desired Fitness Jessica Chan Questionnaire designed - March 12, 2014 Questionnaire made live, promoted via social media - March 21, 2014 - March 28, 2014 Results compiled and calculated - April 1, 2014 Analysis completed - April 4, 2014 Oral presentation dictating results - April 7, 2014 Completed written report - April 21, 2014 There are no expected expenses as a free web based questionnaire hosting platform will be used and NJCC is donating their time and skills to Beachbody. When: 3/14-3/24/2014 (10 days) How: Online survey questionnaire hosted by Qualtrics Topics- Students’ current exercise routine and their desired exercise routine. Type of questions - Multiple choice, open/close ended questions Broad areas of information addressed- How interested and profitable this new demographic would be for Beachbody’s products, which type of platform is most effective to reach this population, and what type of workouts is this demographic looking for. Pretesting- NJCC plans to use a small subset of the sample and ask them to answer the questionnaire online before being made available on social media Supervisor Relationship between Gender and Exercise Method Research and Sampling Method Consumer Insights Manager Camila Costa Research Analyst Manager Research Objectives Other Findings Data Collection Introduction Problem Definition Research Objectives Questionnaire Sampling Methods / Data Collection Limitations Findings Recommendations Colleen Murphy Industry & Market Analyst Select a new target audience and determine their wants and needs Current viewing platform: DVDS Possibly expand into mobile fitness to compete with Nike Training and iTrain Questions Agenda Business Relationship Manager The Best Years and Shape of Your Life: A Workout Program for the College Student Paula Ryan Nicole Halis American multi-national corporation that sells fitness, weight-loss, and muscle building home exercise DVDs Major Competitors: Gaiam, Lionsgate In need of NJCC to provide statistics about the in-home fitness product market to stay innovative Needs to stay competitive within industry and continue to capture a high market share Who We Are / Services 18-25 year olds Exercise 3-6 times a week, 30-60 minutes a day Prefer to workout alone Enjoy working out at night (5pm-12am) Work out at the gym/studio (1), home (2) Top 4 types of activity: Weight lifting (1) Cardio (2) Machines (3) Walking (4) Running (5) Top platforms used for exercise: Mobile (1) None (2) Computer (3) TV (4) Exercise Frequency Convenience sample method Goal: 150 people Actual: 115 people Sample vs. Universe Comparison: Total college students attending US universities: 21.8 million 0.0005% of the total universe Recommendations Student Current Fitness Problem Definition Develop multi-platform program (mobile, computer), that communicates with each other, to create personalized workouts to achieve individual goals and track progress Will provide workouts of different time frames Provide workout for increasing levels Create an app that will help dictate a workout Can input location coordinates and app will know which machinery/gym available Describes how to use machines Picks which machines to use on a particular day Tell how far to walk/run Allows workout to be done in location of choice (gym, home, other) Have different levels available for purchase $1-$50 : App available only, helps create personalized plan $51-$100 : Multi-platform available, will include exercise items for home workout Different workout lengths 10-20 day : Jump start workout, get in shape quick 3-6 months: Create and adjust fitness routine, looking to tone and build muscle, lose weight What type of exercise do students enjoy? How frequent is exercise, and how long does this age group exercise for? What type of platform is used most often? (TV, Computer, Mobile) Where is exercise done? (Gym, Outside, Home) Who do students prefer to work out with? (Alone, Partner, Group) When is exercising done? (Morning, Afternoon, Night) Why do students exercise? 18-25 year olds Would like to work out 30-60 minutes 60-90 minutes Intend to use a workout program Days (10-20) Months (3-6) Questionnaire Findings Objectives help to provide an analysis for a potential target