A) What is the role of marketing research in attracting new members to upscale gyms and ensuring
Fantastic news! We've Found the answer you've been seeking!
Question:
A) What is the role of marketing research in attracting new members to upscale gyms and ensuring the satisfaction of existing members of upscale gyms.
B) What is the management decision problem facing the management of East Bank Club?
C) Define the marketing research problem corresponding to the management decision problem you have identified in question
D) Formulate one research question and two hypotheses.
Transcribed Image Text:
When The Going Gets Tough, the Tough Get Going For Upscale Gyms Imagine cocktails, fine dining, shopping, massage therapy and beautifying luxuries all found in a work out gym. Sounds like a five star resort for some, but for others, it's a part of every day life. Considered an "upscale gym," Chicago's East Bank Club offered a trendy array of exercise facilities, hair and nail salons, a full-service bar and restaurant, and child-care services for its members in 2005. Members at the East Bank Club were also entertained by the occasional appearance of celebrities such as Michael Jordan, Oprah, and Heather Graham Those who are not members called the East Bank Club a "Snobby haven for beautiful people." East Bank's management did not mind that title at all. Despite economic uncertainty, many upscale gyms were not worried about membership or profits declining. East Bank's Managing General Partner, Daniel Levin, looked at the economic uncertainty like it was: "almost as recession-proofas cigarettes used to be." To further illustrate how unconcemedmost luxury gyms were about the uncertain economy, East Bank's member, Jeanine Meola said that if money became tight for her, her car would be the first to go followed by her membership at East Bank. Nearly all luxury gyms market to families with such amenities as child-care services, playrooms, swimming pools, and dance classes. With these convenient amenities, many families have kept their memberships even when "times are tight". Throughout the 2000's and continuing today, less luxurious and less expensive gyms primarily made their profits from new membership. During recession times, their profits tended to experience a sharp decline. However, upscale gyms pulled their revenues from sources other than new memberships, such as food, clothing, salons and personal trainers. In fact, of East Bank's revenues, only 53% accounted for dues, while the remaining 47% of revenues came directly from other sources. Many upscale members of luxury gyms viewed their membership as a direct representation of their character, status, and personality. To withdraw one's membership would display to the public that either problems may exist financially or working out and staying healthy is no longer a number one priority. Many people were members simply for status reasons and socializing, while others were mainly concemed with staying healthy. Perhaps there are additional reasons why people join upscale gyms. The management of East Bank Club was wondering what it should do to attract new members and increase the reveries. When The Going Gets Tough, the Tough Get Going For Upscale Gyms Imagine cocktails, fine dining, shopping, massage therapy and beautifying luxuries all found in a work out gym. Sounds like a five star resort for some, but for others, it's a part of every day life. Considered an "upscale gym," Chicago's East Bank Club offered a trendy array of exercise facilities, hair and nail salons, a full-service bar and restaurant, and child-care services for its members in 2005. Members at the East Bank Club were also entertained by the occasional appearance of celebrities such as Michael Jordan, Oprah, and Heather Graham Those who are not members called the East Bank Club a "Snobby haven for beautiful people." East Bank's management did not mind that title at all. Despite economic uncertainty, many upscale gyms were not worried about membership or profits declining. East Bank's Managing General Partner, Daniel Levin, looked at the economic uncertainty like it was: "almost as recession-proofas cigarettes used to be." To further illustrate how unconcemedmost luxury gyms were about the uncertain economy, East Bank's member, Jeanine Meola said that if money became tight for her, her car would be the first to go followed by her membership at East Bank. Nearly all luxury gyms market to families with such amenities as child-care services, playrooms, swimming pools, and dance classes. With these convenient amenities, many families have kept their memberships even when "times are tight". Throughout the 2000's and continuing today, less luxurious and less expensive gyms primarily made their profits from new membership. During recession times, their profits tended to experience a sharp decline. However, upscale gyms pulled their revenues from sources other than new memberships, such as food, clothing, salons and personal trainers. In fact, of East Bank's revenues, only 53% accounted for dues, while the remaining 47% of revenues came directly from other sources. Many upscale members of luxury gyms viewed their membership as a direct representation of their character, status, and personality. To withdraw one's membership would display to the public that either problems may exist financially or working out and staying healthy is no longer a number one priority. Many people were members simply for status reasons and socializing, while others were mainly concemed with staying healthy. Perhaps there are additional reasons why people join upscale gyms. The management of East Bank Club was wondering what it should do to attract new members and increase the reveries.
Expert Answer:
Answer rating: 100% (QA)
A the role of marketing research in attracting new members to upscale gyms and ensuring the satisfaction of existing members of upscale gyms With the ... View the full answer
Related Book For
Posted Date:
Students also viewed these marketing questions
-
Define an appropriate marketing research problem corresponding to the management decision problem you identified in question 2. In question 2 discuss the role of marketing research in helping Intel...
-
Define Accenture's target market. Discuss the role of marketing research in helping Accenture understand the needs of its target customers.
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Identify and discuss three ways that tourism and hospitality businesses can maintain a long-term relationship with their clients
-
The following represents selected information taken from a companys aging schedule to estimate uncollectible accounts receivable at year-end. Instructions (a) Calculate the total estimated bad debts...
-
(a) Show the product that results when fructose is treated with an excess of methyl iodide and silver oxide. (b) Show what happens when the product of part (a) is hydrolyzed using dilute acid. (c)...
-
Find f0.01 for F12,8.
-
On October 2, 2011, Flx, a U.S. company, entered into a forward contract to purchase 50,000 euros for delivery in 180 days at a forward rate of $0.6350. The forward contract is a derivative...
-
e. Suppose that the company could expand its labor capacity by running an extra shift that could provide up to 10,000 more hours. The direct labor cost would increase from $16 to $19 per hour for all...
-
Jerry Stevenson is the manager of a medical clinic in Scottsdale, AZ. He wants to analyze patient data to identify high-risk patients for cardiovascular diseases. From medical literature, he learned...
-
On January 1, 2020, ABC Company sold property to the DEF Company. There was no established exchange price for the property, and DEF gave ABC a P2,000,000 non-interest bearing note payable in 5 equal...
-
In Problems 5964, set up a definite integral that represents the area bounded by the graphs of the indicated equations over the given interval. Find the areas to three decimal places. A circle of...
-
Describe some ways in which you may have been treated by your boss that helped you become an engaged employee, a not-engaged employee, or an actively disengaged employee. How did you respond as a...
-
During President Dwight D. Eisenhowers two terms, there were _______recessions.
-
Give a definition of total quality management (TQM) and some of its uses.
-
Visit yelp.com and tripadvisor.com. Discuss the impact of the existence of these websites on organizations that provide good and poor levels of service.
-
Suppose the following game is repeated once (that is, played twice in total). Bridget SB (10, 74) SA Alex S'A SA SB (70,70) (74, 10) (-10,-10) (40,40) (-10,-10) SB (-10,-10) (-10,-10) (50, 50) (a)...
-
What services are provided by the provincial and territorial governments?
-
Describe the ACS in terms of the advantage it offers as well as how to retrieve data.
-
What is a measure of central tendency and what does it describe?
-
What is a questionnaire, and what are the functions of a questionnaire?
-
Show that for an ideal gas, \(\left(\frac{\partial E}{\partial V} ight)_{T}=0\), and for a van der Waals gas, \(\left(\frac{\partial E}{\partial V} ight)_{T}=\frac{a n^{2}}{V^{2}}\).
-
Explain some important methods for the estimation of the fugacity coefficient of a pure substance.
-
Estimate the residual entropy, enthalpy and internal energy at 298 K and 10 bar for nitrogen obeying the van der Waals equation of state, given that T c = 126.2 K and P c = 34.0 bar.
Study smarter with the SolutionInn App