Quantitative Analysis
The following section reflects the viability and business potential of Intune Body Therapy through the use of statistics and information from the Australian Bureau of Statistics.
Target Market
This information shows that of the suburbs to whom we plan to advertise to, our target market exists. This means that we can successfully reach our market through our campaigning as we have a variety of age ranges throughout the area. It was also found from the ABS that the numbers of the elder by '11.1% to 13.5% between 30 June 1990 and 30 June 2010'.
Income within Target Region
In researching the average household income, we are able to identify the potential expenditures of our target market.
In doing so, we can distinguish both the our fees and the potential disposable income, allowing us to predict our intake of customers.
Considering the average household income of Australia in 2011 was $1,234, our target area should have the disposable income for us to successfully market to them.
Region Development
The increased population in suburbs reflects that the surrounding area, to whom we plan to market to, are still in developing stages. It is with this that we can see our market increase throughout time as the population increases, giving us more marketing opportunities. Although there are some suburbs in stagnating stages of growth, this also allows us to market to a stable group and allows for some consistency in intake of customers.
Increase of Popularity of Yoga
The following table outlines the most popular sport participated amongst females in Australia in 2011-12 according to the Australian Bureau of Statistics. Although Yoga only places eighth on the list, there has been an increase of 273,000 participants from 2009. This gives the industry room for growth in terms of participants and popularity.
Payment Rates of Aged Pension
This table shows the maximum payment rates of Aged Pension in Australia in 2013 according to the Department of Families, Housing, Community Services and Indigenous Affairs of the Australian Government. From the data we can see, the maximum weekly Aged payment is $366.85, which is below the average income of other customers in our target market. From this we have concluded that more discount should be given to seniors.