Unit 25 - Sport as a business - Assignment 3
Grade: D*
Covering: Market research and marketing for a sport business
Task 2: Explain results
Task 4: Justify the promotion plan
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Unit 25: Sport as a Business
Title: Market research and marketing for a sport business
Task 2: Explain results
1) There was an equal amount of woman and men that did this questionnaire. Which
shows that both sexes are interested in this product. This means that it leaves a positive
impact on my business. Due to gaining valuable customers that could be willing to buy
the product that I’m making, this means that I can have more money coming in as both
sides want to buy my product. Which means that the sales will increase, as there is
double interest within the product which can generate sustainable income for my
business. If I was to sell my product as one-sided I would lose on the valuable customer
that is willing to buy the product and lose half of the income as I mentioned.
2) From the questionnaire, I did not get many interests from teenagers, either from ranges
of 47- 60 and 60+ ages! Which is a big disadvantage and it can have an overall impact on
my business, because if not enough customer buy the product it can affect the business
and if a business can’t be sustainable than it will be needing to be shut down because it
can’t create enough revenue to cover the expenses like pay employee/works. Which
means to prevent this from happening I would need to improve the area as if I was to
improve it we would be able to reach out to the age groups that are lacking in interest
within the product and reach out to them in order to boost their interest which can help
increase sales.
3) The information from the chart that says, everyone said that they would want to make a
profit on this product. Which is a great sign as we managed to hit the need, as everyone
will be willing to buy the product? Which will benefit my business as I will be able to
make a profit from my product as people will buy it because they need it. Also, the
people that are buying the product will benefit from it as they will be able to make a
profit, by saving money not buying memberships and making a profit when using the
machine creating(generating) power (electricity) throughout exercise that can be used
to fuel the house. Also, I can use this as an advertisement to saving the environment is
that there will less pollution created with our environments and we won’t after relay on
other resources of energy that will build levels of Co2 as will have renewable energy. If
we can show this to others we can then spread our product across the UK and
worldwide to send a positive message. Which can again have a good impact on the
business as it will be in a positive image!
4) The chart says public want the machine to last longer than 7 years this means that the
product must be, made with the best quality materials, in order to last longer than 7
years. This will and can have a significant effect on my profit as I will after invest more
money in making the product more durable! Which could result in making the cost of
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