NY Health Club
Personal training is a significant money maker for many health clubs. However, individuals are drastically different when using the service, their view of pricing, and what times they can avail services at what price. Currently, the New York Health Club (NYHC) has a rather undisciplined tactical approach to personal training. Tom, a senior manager, felt that a more balanced and quantitative approach would be desirous. The rate a client paid was based on negotiations with the trainer and had little to do with services offered. Tom was also hoping that a more disciplined approach might even out the usage of the needed facilities.
Data analysis shows the following:
Peak times for training are 6-830am; 11-1230pm; and 5-8pm
Lowest times are 5-6am and 3-5pm
Because rates are negotiated by individual trainers, there is no consistency in either rate, projection, or ROI
Part 1 -- Flat Personal Training Rate -- One way to mitigate down times and provide an average price for training services is to do a flat personal training rate. When we analyze the data from the survey, we find that there are two meaningful average:
1) the average of all respondents in what they would pay per hour averaged over the entire day = $58.58
2) the average price when all respondents are averaged based on time of session = $58.58 (identical)
3) Thus, the average price per hour that would satisfy most of the clients would be $60/hour.
This represents the expanded results of the survey based on members:
Pricing at $60 per hour would be favorable for 45 members, or 40%. Pricing at $50 per hour would be favorable for 65 members, or 58%; This does not mean, of course, that those surveyed would not pay $50, just that their price/value relationship is lower.
Part 2 -- Two Price Levels; daytime $50/hour, 5pm-9pm TBD. The second way to price the services would be to segment high and low demand. $50 per hour for all hours except 5pm-9pm. Management must find a way to price the other hours to maximize profit and allow for peak usage times of facilities. Based on analysis, recommended hourly prices would then be $50 per hour regular, $80-85 peak.
Linear Demand Model
Regression Equation
Results:
Total Numbers:
Slope (b):
y-Intercept (a):
Regression Equation (y):
Appendix a -- Averages Correlated and ranked for regression
Sorted
Streetwalkers are generally the lowest-paid of all prostitutes. They are also in the most danger. As a result, those who work as streetwalkers are likely to be more desperate than other prostitutes, suggesting that, regardless of chosen profession, they would experience greater levels of mental distress than the normal population. What is fascinating is that when research does not look at streetwalkers, but at higher status prostitutes, prostitutes do not
He is made at himself for not coming to terms with himself earlier in life and he is mad at himself for spending so much time "giving his love" to people - men -- who didn't deserve it. He says that if he could go back, he would go to school, he would embrace who he is, he would be honest with family about his sexuality, and he would
Nordstrom began as a shoe retailer, and eventually transition into a fashion and apparel department story, but all along it was the strong desire of management to provide "the highest level of customer service" with "top of the line, high quality merchandize" (Chapter 5). This paper points to the need for Nordstrom to continue to expand its great customer service, and the risks it might take in that regard. Nordstrom and
Boys and Girls Clubs of America as a Resource to Aid in the Prevention of Juvenile Delinquency Boys and Girls Clubs of America This research describes the tremendous need for nonprofit human services organizations by youth who: use drugs, commit crimes or are victims of crime, drop out of high school, and become pregnant at an early age. There are a variety of nonprofit organizations such as Boys and Girls Clubs
Antipsychotic Medication and the Physical Health Problems of the Patient With Mental Illness More and more attention is now being given to the mental disorders especially in U.S. And due to this increase in attention an increase has also been noticed in the treatment of these mental health issues (Zuvekas, 2005). About 30% of the total U.S. population that is between the ages of 18-52 is being affected by mental health
Strategic Planning in IT IT Impact on Service Industry Performance Cooperative Competitive Competitive Advantage Implementation of IT Innovations 1992 U.S. VALUE-ADDED AND EMPLOYMENT BY INDUSTRY AVERAGE ANNUAL GROWTH IN GDP PER HOUR, MAJOR SECTORS OF THE U.S. ECONOMY Management TASKS IN BUREAUCRACY VS ADHOCRACY ORGANIZATIONS This paper addresses the following problem statement: "Without information technology (IT), a business will not be able to compete globally in any industry, nor in any market it wants to enter. It will
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now