Small, independent fitness boutique studios face intense competition from large multinational gym chains with highly recognized global brands. In a major city centre, one such local independent studio markets its classes in the following way:
Economists frequently analyse small and large businesses through the 'structure, conduct, performance' framework and evaluate concepts such as the 'divorce of ownership from control' in larger corporate entities.
Discuss the ways in which the size of firms and the structure of the fitness/gym market might affect the conduct and performance of the firms operating within it.
