Golds Gym: Branding and Marketing Strategy Report Analysis

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This report analyzes the branding and marketing strategies of Golds Gym, examining its brand elements, target consumers, and marketing programs. It begins with an executive summary and an introduction outlining the report's structure. The analysis delves into Golds Gym's current marketing and branding, evaluating its brand elements like logos and slogans, target consumers, and marketing programs, including product/services, pricing, promotion, and distribution channels. The report then explores the sources of Golds Gym's brand equity, utilizing Keller's brand equity model to assess identity creation, meaning attachment, consumer response, and relationship building. It examines how the gym's branding, segmentation, and marketing mix contribute to its success. The report concludes with five recommendations for branding and marketing, including incorporating digital technology, emphasizing health and fitness, developing diverse products, expanding online presence, and establishing a customer relationship management program. The report aims to assess the health of the brand, uncover sources of brand equity, and suggest ways to improve or leverage its equity within the fitness industry, as per the assignment brief from the University of West London.
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GOLDS GYM BRANDING AND MARKETING STRATEGY 1
Golds gym branding and marketing strategy
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GOLDS GYM BRANDING AND MARKETING STRATEGY 2
Executive summary
Marketing presents an important aspect in business that is intended to ensure that the business
gains preference in the market over other businesses through the achievement of competitive
advantage in the eyes of the public. Marketing involves a series of activities surrounding the
product which run from the time when the product have been developed, the distribution
channel, the price, and the promotional techniques employed in the organization. In this
document, therefore, discusses the case of the gold gym and the different strategies that are
employed to ensure that the organization is successful in its marketing campaign. The document
begins with a description of the selected target market and the branding techniques employed in
the organization. Essentially the document also describes the different strategies used to achieve
the brand equity and uses Keller’s brand equity model to describe the different aspects of the
implementation process. The article further gives the system architecture and how the product is
arranged to appeal to the consumers in the organization. The findings of the different strategies
are also presented before making the recommendations. five recommendations are made which
include recommendations for branding which are inclusion of the concept of digital technology
on the brand positioning statement to reflect all predicts on offer, there is need to also
incorporate the issue of health and the role of the products in promotion of health and fitness in
the community and also the need to develop diverse products that are customized with the need
of the client in mind. The other recommendations are for marketing which includes opening up
of more markets for the products especially on the online platform and creation of a customer
relationship management program that will enable the organization to achieve its desired
objectives and create a substantial level of brand equity among its clients.
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GOLDS GYM BRANDING AND MARKETING STRATEGY 3
Introduction
Marketing is an important aspect of any business that needs to be put into consideration
when developing the products. The marketing mix of a product begins with the branding
techniques done in the organization, the selection of a market segment and targeting the segment
in a fashion that prompts them to purchase the product (Turban, et al., 2016). Despite this the
marketing strategy does not end with the purchase of the good and instead overlaps to other
factors such as the after sale services, the image of the product in the public, the level of
engagement of the product and formation of relationships between the product and the customer
which can be achieved through creation of a brand equity and positioning strategies (Luxton, et
al., 2014). In this consideration, the paper discusses the various strategies used by the Golds gym
in branding, creation of brand equity, target marketing, segmentation, and the overall marketing
strategy.
Current marketing and branding
Branding refers to the practice of presenting a product in a unique and sophisticated
fashion which is aimed at promoting the market for the product mainly through marketing
strategies which create an image in the mind of the consumer and influencing their decision-
making process (Kapferer, 2014). Gold's Gym is an international brand which is named after the
founder Joe Gold, and it is situated in California. The product has been branded through a
combination of different elements such as the logo which is developed with the brand name and
the pictorial presentation of the service offered and a golden color to symbolize the name. The
character used in the development of the logo is made to present the deeper meaning of the
product and to appeal to the taste of potential consumers. In essence, the organization brands
itself using slogans that promise a fit body, which is the primary aim of the establishment to keep
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GOLDS GYM BRANDING AND MARKETING STRATEGY 4
the people safe and fit a well as give them shape for their body. The products are branded to
produce the taste, which is revealing as the best place to get fitness around the globe. Each
section of the organization is developed to provide a message about the brand to the client, which
could prompt its selection among the other competing parties.
The organization targets people who are willing to engage in fitness activities across the
globe. The product is suitable for people of all ages and especially the people who are in the
process of managing their weight. In the segmentation of the product, the product is divided
into different types based on the intention of the user and the age of the person. For instance, the
workouts are different for persons who are interested in losing weight and those that are
interested in gaining muscle. Additionally, there is also a difference in the extent of the exercises
based on individual needs. In the recent developments, however, there has been a substantial
shift in the target, and a new product line is introduced, which serves the people who are willing
to undertake the lessons on the online platforms. The provision of services online targets the
people who cannot travel to the gym and have access to the facilities making it possible for them
to undertake the lessons from the comfort of their homes. The target segment is, therefore,
people who seek the services online and do not engage in outdoor activities despite having the
facilities needed to conduct the exercise.
Segmentation targeting refers to the idea of dividing the target population into a smaller
portion based on a defined criterion which distinguishes the segment from the other population
and also produced different demands for services among the group and developing a product that
is suited to members in the selected segment (Baker, 2016). The method used for segmentation,
in this case, is the behavioristic segmentation in which the members have a behavior of not
engaging in traveling to the site of the exercises and instead chose to undertake the classes from
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GOLDS GYM BRANDING AND MARKETING STRATEGY 5
home following the convenience produced by the digital platform (Kannana & Hongshuang,
2016). The group is facilitated by the current increase in these of digital technology and
globalization, which has enabled the spread of services from one location to another. There is an
increase in the use of sophisticated communication services that lead to access of information
which enables the organization to market its services and the clients to access them from their
location.
The organization utilizes the components of the marketing mix to accomplish its
marketing strategy. The marketing strategy uses the 4 PS to achieve the desired objectives and
persuade the people to purchase the products. For instance, the product on offer includes all the
fitness material and tutors for different age categories, which allows them to make choices. The
high diversity of product range makes it attractive for people with an interest in fitness. The price
of the product is standardized across the globe, and they are offered in different packages which
are suitable for different people in the market. The high variety of prices on offer allows every
person who is interested in choosing a package that is best for them and for the cost that they can
manage.
In the distribution, the product has been made available to people in the global market
following the introduction of information technology devices that allow people to purchase the
package from the comfort of their homes. There are also other channels used in the process,
which include the establishment of the facilities where people go to do their workouts daily. The
establishment is used for people who have access to the location. Promotional strategies are also
utilized to inform the clients about the existence of the products in the market. The product has
been of high quality, and the promotional activities have been enhanced which has made the
product to be ranked among the top 3 gyms in the world
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GOLDS GYM BRANDING AND MARKETING STRATEGY 6
Sources of brand equity
Brand equity refers to the perception the client gets from purchasing a particular product
or service other than the product or service itself (Bevan & Wengrow, 2017). It comprises of the
events undertaken but the administration to ensure that the product or services produce a positive
perception in terms of value in the mind of the client even after having made the purchase. In
some instances, some products are associated with an intangible value which is visible in the
eyes of the public making them associate the product with a particular quality level which is
usually influenced by the organization's activities to enhance the product preference among the
public. According to (Schultz, 2016) brand equity is a term used to describe the concept of
having a well-established brand which is known to the public in terms of the name, and value
such that it can be used to generate more revenue through customer loyalty. The idea is linked to
the concept of customer loyalty and brand recognition that makes the client want to be associated
with the specific brand. In my perspective, brand equity is about the value of a product as
perceived by the client and is usually achieved after interaction with the product.
Consequently, the sources of brand equity differ from one organization to another.
Several strategies comprise the brand equity, which includes the promotion of the brand image,
creating brand identity, increasing its awareness, promotion of brand loyalty, and influence of the
customer perception about the product (Giarratana & Castaldi, 2018). Achievement of favorable
brand equity calls for the utilization of the Keller’s brands equity model. The model creates
brand equity through a series of four distinct steps which include, creating identity, attaching
meaning, observing the response, and forming lasting relationships (Sahadev, et al., 2015). The
model describes the different sources of brand equity for organizations and how they can be
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GOLDS GYM BRANDING AND MARKETING STRATEGY 7
utilized to implement the brand equity for organizations operating in different industries. The
model is also applicable in the case of golds gym
Keller’s brand equity model, can be applied to the golds gym to define the source of
brand equity for the institution. For instance, in the broad identity stage, the organization has a
well-established name that is known to the members of the public and which have been linked
with a positive reputation and association with the brand. The concept is evident based on the
observation of the number of repeat client and new subscribers to the channel, which is growing
each day (Wright, 2015). The creation of meaning stage, the organization, has developed
different advertisement and promotional strategies that allow the people to understand the
different products on offer and give consideration before making a decision. The organization
has employed strategies to link its products to the client and has realized a positive performance
in recent times.
In the response section, the organization has received positive feedback from the clients,
and the performance of the services is ranked as excellent. There is a substantial connection
between the client and the organization which appeals to the emotions of the people through the
formation of the strong relationship that encourages them to make a positive judgment during the
operation. The relationships enable the client to link with the organization and appreciate the
products through the formation of interactive and workout groups between the clients.
The gold gym has obtained its brand equity from the different prospects that are operated
within the organization and its administration. For instance, the administration is on the forefront
to promote customer loyalty by linking the clients from all locations worldwide through digital
technology. The content is shared, and the client is constantly engaged in the activities which
encourage them to subscribe to the event. Additionally, there is a strong involvement of the
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GOLDS GYM BRANDING AND MARKETING STRATEGY 8
product with the client whereby there are different members who are coming to give their
testimony about the nature of the service and how they experienced a positive effect from
engaging in the gold gym. The organization insists on how it delivers the services to the client’s
satisfaction as a method of persuading the clients to return and be linked with the institution.
Brand Architecture
Brand architecture presents the strategy or style through which the products and services
of an organization are prepared such that they can interact with the consumers and allow for easy
access to clients based on their preferences and demands from the organization (Klimchuk &
Krasovec, 2016). The structure differs from one organization to another due to the variation in
the type of services being offered and the mode of presentation of the products from one
organization to another. In essence, the brand architecture is aimed at the arrangement of the
different elements in the organization to appeal to the client and gives the client the impression
about the organization and how the products are aligned making the purchase easier (Turban, et
al., 2016). A proper organization of the architecture allows the clients to observe the different
products available and the quality which is essential for making a decision.
Socially responsible marketing is a marketing strategy in which an organization takes into
consideration the needs of the consumers and the different aspects surrounding the business
environment and designs a comprehensive approach that is suitable for the specific group (Clark
& Evans, 2014). The strategy involves the identification of the different market segments present
in the population addressing the needs of the selected segment. Socially responsible marketing is
a profitable initiative that matches the marketing efforts to the needs of the target market
segment, making the population want to be associated with the brand. According to (McDonald
& Wilson, 2016)socially responsible marketing is key when it comes to product preferences, the
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GOLDS GYM BRANDING AND MARKETING STRATEGY 9
idea can be linked to consumer marketing programs due to its ability to solve the problems that
are related to the specific market segment making the product valuable to the population
(Brooks, 2016). Socially responsible marketing, therefore, enhances the product precedence and
gives the product substantial value to the client hence increasing the probability of the client
purchasing the product
Golds gym also applies socially responsible marketing in different ways. For instance, in
the application of the digital marketing system, the organization realizes that times have changed
and most people are now engaging with social media and internet platforms (Al-Shatanawi, et
al., 2014). Also, there is an increased demand for online products, and most businesses have
shifted their interests to engage in the online activities that increase the access to market and
improves the product preference among the public. In this consideration, the organization
launched the online market for the product to meet the demands of the clients. Moreover, the
organization offers products that boost social cohesion among the communities. In this respect,
the gym creates a platform for people to interact and work out their fitness. The gym links people
to a community that interacts and meet other people who are interested in the service.
Brand resonance is a psychological aspect of a product in the mind of a consumer. It
refers to the nature of the relationship between the consumer and the product which is
established through an interaction between the consumer and the product such that the consumer
can create some notion about the product in their mind (Yamin, 2018). At the gold gym, there is
the creation of brand assonance, which has been achieved through different strategies. For
instance, the organization has a well-defined name and have been known to produce high-quality
services. In the website, the institution has established a platform where the clients give their
feedback about the product and their experience with the service, which in turn influences the
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GOLDS GYM BRANDING AND MARKETING STRATEGY 10
thought about the product (Stahlberg & Maila, 2014). It is clear that most of the client have
established a positive correlation with the institutional and are happy about the business, which is
a strong score in the marketing field. There has been a strong customer relationship management
in the organization that has enabled most of the clients to remain loyal to the products and
services of the institution. The organization has been at the forefront to meet the needs of its
clients and uphold high standards, which is essential for growth in the industry.
Recommendations
Recommendation on branding
Golds gym should consider advancing the presentation of the brand in different aspects.
For instance, the brand positioning for the product needs to be adjusted to appeal to more clients
in the global market. The positioning need to be adjusted such that it reflects the current
attributes added to the program, including the integration of information technology into the
business and the marketing strategies that are used on the online platform (Stankevich, 2017).
The attributes presented for the product currently do not capture the concept of the current
development, which attracts a large clientele to the organization. There is a need to, therefore,
incorporate the current developments in the organization on the brand positioning statement such
that the institution will be seen to position itself based on the current issues and to represent the
real situation on the ground.
Consequently, the benefits and values of the organization in the brand positioning
statement need to be reviewed. In the current situation, people are becoming aware of the health
implications of not engaging in the exercises and the concept of obesity as also been viewed as a
major threat to the health co people in the society (Nguyen & Luu, 2018). The services offered at
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golds gym are exceptional in addressing the situation. The focus of the positioning statement is,
however, on how to get fit and has less emphasis on the concept of health of the services.
Maximization of the value obtained from the service is achieved through increased benefits that
the client gets from the product, and therefore there is need to incorporate the concept of health
of individuals in the brand positioning statement to encourage more clients into the organization.
Moreover, in the concept of brand development, the organization have established
different products which appeal to diverse clients who have variable demands. The services are
spread across the different distribution channels which allow different people to access the
products and services from their location (Wilson, 2018). The spread of the services, especially
in the digital platform, has not been enhanced to the desired level, and therefore this calls for the
need to maximize the availability of the brand in different platforms to improve the service
delivery to the clients and meet all demands. The online services need to establish a linkage
between the current situation and the quality of the services. Additionally, there is a need to
encourage the organization to provide the branded facilities of for home users, which will
encourage them to gain an affiliation with the organization and hence promote the brand from
their location.
Recommendation for marketing strategy
The gold gym needs to establish a marketing strategy that would convey the information
to other platforms and encourage more people to venture into the activities. The current product
targets the mass market where everyone interested in the fitness programs is encouraged to
engage in the product. The marketing strategy needs to be developed, which will focus on
specific target segments, which include focusing on a unique strategy for each market segment
(Shareef, et al., 2016). For instance, in the digital services where the client engages with the
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GOLDS GYM BRANDING AND MARKETING STRATEGY 12
products online, there is a need for the organization to utilize the social media and involve more
platforms to expand the brand knowledge among other people.
The gold gym should consider advancing the brand equity among its clients through the
development of a proper customer relationship management program, which will enable the
organization to gain more loyal customers to the institution. A strategy need to be established to
encourage the development of a positive perception of the product in the minds of the client.
Customer relationship management allows the product to be linked with the client and enhances
communication between the organization and the potential and existing customers making them
want to be involved in the product and feel part of the organization.
Conclusion
Golds gym has been successful in the provision of fitness services across the globe. The
enterprise offers products that appeal to diverse groups and addresses the needs of different
people in the world. There is, however, a current shift from the mass market to incorporate the
digital services where the clients access the tutorials via an online platform. Products have been
diversified in different ways to suit the new target. Target marketing has also been employed,
attracts all the elements in the marketing mix, including the product, place, promotion, and price,
which are adjusted to achieve the marketing objective. The different elements have been utilized
comprehensively to establish brand equity, which is achieved through the development of an
appropriate architectural structure that links the organization's products to the client more
effectively. Despite these efforts, some improvement needs to be done in various fields to
achieve a perfect institution.
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