Strategic Market Research Plan: Bounce Fitness Expansion Strategy

This report details a comprehensive market research plan developed for Bounce Fitness, a fitness and wellness provider. The plan outlines the objectives of the market research, which include identifying consumer responses to Bounce Fitness products, launching products and services aligned with market demand, gathering consumer data (income, location, buying behavior), and selecting effective media for advertising. The report presents a projected plan with activities such as market research, corporate fitness program awareness, and customer feedback, along with a detailed timeline spanning eleven months. It also includes a cost analysis, specifying the expenses for each activity, and a timeline outlining key steps. The research will be conducted by marketing executives in three Australian regions: Queensland, New South Wales, and Melbourne. The report also describes the process for validating data, which includes verifying data sources, comparing data with reliable sources, and objective data interpretation. The conclusion summarizes the key findings and recommendations for Bounce Fitness.

MARKET RESEARCH PLAN
Market Research Plan

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Table of Contents
Introduction.................................................................................................................................................3
Projected plan to achieve the client’s objectives..........................................................................................3
Cost of completing the research..................................................................................................................4
Projected timeline........................................................................................................................................5
Responsible person to conduct the research................................................................................................6
Conclusion...................................................................................................................................................7
References...................................................................................................................................................8

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Introduction
This report discusses the objectives of market research in the context of Bounce fitness. It also
illustrates the projected plan to attain the objectives of bounce fitness. This report emphasizes the
cost of completing the research. It also explains the timeline for the project. This report defines
the responsible person who would be accountable for conducting the market research. It also
exhibits the regions where research would be conducted. In the last, this report addresses the
process that would use to confirm the validity of information and data.
Objectives for the market research
 To identify the consumer response to the product of Bounce fitness
 To launch the product and services as per the market demand
 To seek maximum data about the consumer such as income range, their location, and
buying behavior
 To select a suitable media for advertising and find out the overall impact of advertising
Projected plan to achieve the client’s objectives
The projected plan is used for attaining the objectives of the client as it considers different
factors for systematic perform research such as activities, time, action to be taken and results
(Brace, 2018). The given table depicts the projected plan:
Activities Time (11 months) Action to be taken Result
Market research 3 months Customer survey Needs of customers
towards fitness
Increase awareness
of Corporate fitness
program
6 months Using Social media to
promote fitness
program
Increasing
participation in this
program
Customer feedback
after services
2 months Online and offline
sources for taking
feedback of customers
Where we need to
make changes in the
program

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There are different activities that would be performed for completing the objectives of clients.
These activities are market research, increase awareness regarding corporate fitness program
along with, customer feedback after services. Along with this, a total of 11 months would be
taken by the marketing executive for completing each marketing activity. It is also addressed that
the marketing executive will conduct a customer survey for market research. It would support in
addressing the needs of customers towards fitness (Yang, et. al., 2017). There would be a need of
3 months for performing this activity.
Furthermore, social media would be implemented to increase the awareness regarding the
corporate fitness program. It would help to increase the participation in this program. There
would be a need of 6 months for completing this activity. It is also determined that online and
offline sources would be practiced for taking customer feedback after services. There would be
also needed for 2 months for obtaining the customer feedbacks (McQuarrie, 2015). This would
help to assess whether the executive would require making changes in the program or not.
Cost of completing the research
Activities Cost (in A$)
Market research 2500
Increase awareness of
Corporate fitness program
3500
Customer feedback after
services
2000
Marketing executive would determine the cost of completing the research as shown in above
table. As per the table, it can be stated that A$2500 would be required for conducting the market
research. Along with this, A$3500 would be essential for increasing the awareness regarding
corporate fitness program. Moreover, A$2000 would be required for acquiring the customer

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feedback after services. This cost table illustrates that there would be required higher cost for
completing each activity of market research.
Projected timeline
Activities (In
weeks)
1 2 3 4 5 6 7 8 9 10 11
Identification
of research
concern
Developing
objectives of
marketing
research
Data
collection
through
primary
sources
Data analysis
Report
drafting
Final
Submission of
the report to
the board of
director
The above timeline shows that there would be a need for different activities. These activities are
the identification of research concern, developing objectives of marketing research, data
collection through primary sources, data analysis, report drafting and final Submission of the
report to the board of director. It also depicts that in the first week, the researcher would identify
the research concern. In the second week, it would develop the objectives of marketing research.
In the third, fourth and fifth week, the researcher would collect the data by using primary
sources. In the sixth and seventh week, the researcher would analyze the data through statistics.

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In the eighth and ninth week, marketing executive would draft the report and in tenth and
eleventh week, marketing executive would finally submit the report to the board of director
(Ruiz, & Holmlund, 2017).
Responsible person to conduct the research
The research will be conducted by marketing executives and they have selected by the board of
director as they have an understanding regarding the market research. Along with this,
executives would be selected who have more than 5 years of experience in this field.
Areas of conducting research
The research would be conducted on three regions of Australia such as Queensland (QLD), New
South Wales (NSW), and Melbourne. These regions would be selected by the executive of
bounce fitness because these regions fall under the urban areas and there are large numbers of
people who are fitness freak.
The process used to confirm the validity of information
Primary data collection method would be used by the market executive to confirm the validity of
information and data. This data would be analyzed through statistics that help to comprehend the
pooled data in a meaningful way. It would also help to increase the validity of the gathered
information.
The following procedure would be used to confirm the validity of information and data:
Step 1
Marketing executive would determine the reliability and credibility of data by addressing the
sources. It would also identify the information about the bounce fitness to determine its
marketing policies and procedure (Bentley, et. al., 2017).
Step 2

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Marketing executives would compare the data assessed by them with the reliable sources in order
to verify the accurateness. It will assess the data as well as, facts provided in internet source with
data from trusted sources like newspapers, and journal articles. It would also emphasize on
comprehensive demonstration of facts and data (Du, et. al., 2015).
Step 3
The marketing executive will read the data objectively in terms of addressing when the data is
demonstrated in a balanced, unbiased and reasonable way. It would also focus on possible bias in
data presented as well as claims that are illogical. Any conflict of interest can persuade the
assertion of marketing executives. It would also emphasize on citations that support the
assertions and claims made by marketing executives. It would also follow the links offered for
verifying the citations and supports the claim of the author. It can include at least two credible
citations for supporting the data (Abdulkadiroğlu, et. al., 2017).
Conclusion
From the above interpretation, it can be concluded that the researcher would develop the
objectives for completing the projected plan. It can be summarized that an investigator would
create the cost of completing the research is A$8000. There would be a need of a total 11 months
for completing the each activity for market research. It can be also summarized that marketing
executives would be responsible for completing each activity as well as, three different regions
would be selected for market research such as Queensland (QLD), New South Wales (NSW),
and Melbourne. It can be also concluded that statistics would be used to confirm the validity of
information and data.

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References
Abdulkadiroğlu, A., Angrist, J. D., Narita, Y., & Pathak, P. A. (2017). Research design meets
market design: Using centralized assignment for impact evaluation. Econometrica, 85(5),
1373-1432.
Bentley, F. R., Daskalova, N., & White, B. (2017, May). Comparing the reliability of Amazon
Mechanical Turk and Survey Monkey to traditional market research surveys. In
Proceedings of the 2017 CHI Conference Extended Abstracts on Human Factors in
Computing Systems (pp. 1092-1099). ACM.
Brace, I. (2018). Questionnaire design: How to plan, structure and write survey material for
effective market research. USA: Kogan Page Publishers.
Du, H., Li, B., Brown, M. A., Mao, G., Rameezdeen, R., & Chen, H. (2015). Expanding and
shifting trends in carbon market research: a quantitative bibliometric study. Journal of
Cleaner Production, 103, 104-111.
McQuarrie, E. F. (2015). The market research toolbox: a concise guide for beginners. USA:
Sage Publications.
Ruiz, C. D., & Holmlund, M. (2017). Actionable marketing knowledge: A close reading of
representation, knowledge, and action in market research. Industrial Marketing
Management, 66, 172-180.
Yang, X., Cai, G. G., Chen, Y. J., & Yang, S. J. S. (2017). Competitive retailer strategies for new
market research, Entry and positioning decisions. Journal of Retailing, 93(2), 172-186.