Wk 4 Part B: My Fictitious Business and Its Defined Target Market

I currently do not have my own business, and I will only be creating a fictitious business for the purposes of this class, CSIT 155: Social Media for Business.  However, my long-term vision after this class is to create an online business that will be similar in concept to my fictitious business and created in part with this effort.  My fictitious business provides online fitness counseling and coaching for people that want to achieve their best versions of themselves through physical fitness, nutrition, and mental wellness. The name of my fictitious business is “My Fitness Revival” as it represents people trying to revive their passion and efforts towards their fitness levels. 

The target market for My Fitness Revival will be oriented towards older people (45-65+) that may have been in a high state of physical fitness and health in the past, but for whatever reason, they are not currently happy with their current state of fitness and wellness.  This target market wants to make self improvements, but they need the additional motivation of a personal trainer/coach to get started, review goals, and sustain progress.  Furthermore, this target market will be people that are looking for fitness programs that can be conducted in the home, work office, or outside and not necessarily in a gym environment.  This target market would be willing to make a small investment in their own personal equipment such as a yoga mat, resistance bands, light weights, pullup bar, etc.

To narrow the scope of target market during the startup phase, My Fitness Revival will be further focused on military veterans.  According to Statista, there are over 10 million veterans age 35-74, with approximately 3 million in the 55-64 age range, Military veterans represent a group of people who were, at a minimum, in decent physical condition for a significant portion of their life.  However, not all veterans remain in physical conditioning programs after they get out of the service, and many struggle to regain and/or sustain their desired fitness levels.  The other challenge with military veterans is that many struggle with mental fitness as well, such as depression, anxiety, and/or PTSD.  Suicide rates are historically higher amongst veteran populations, and according to the VA (va.gov ), these rates can be more than 50% higher than non-veteran populations.  Physical activity provides a huge potential to enhance our well-being. According the Mental Health Foundation, “even a short burst of 10 minutes of brisk walking increases our mental alertness, energy and positive mood. Participation in regular physical activity can increase our self-esteem and can reduce stress and anxiety.”

The aim of My Fitness Revival, especially during the startup phase, is to connect with former and retired military persons who want to improve their overall quality of life by first improving their fitness levels.  This improvement can be realized with our certified fitness and yoga instructor, Jared, in the comfort of whichever environment the client chooses.  As a retired U.S. Marine, who also has struggled with combat related PTSD and depression, Jared can identify with many of the challenges and opportunities of his clients.

References

Korhonen, Veera.  “Number of veterans in the United States in 2022, by gender and age.” Statista, 5 July 2024. https://www.statista.com/statistics/250267/us-veterans-by-age-and-gender/

Mental Health Foundation. “How to look after your mental health using exercise.” Mental Health Foundation, ND. https://www.mentalhealth.org.uk/sites/default/files/2022-07/How-to-exercise.pdf

VA. “2022 National Veteran Suicide Prevention Annual Report...” VA. September, 2022. https://www.mentalhealth.va.gov/docs/data-sheets/2022/2022-National-Veteran-Suicide-Prevention-Annual-Report-FINAL-508.pdf