(PDF) Individual Plan Executive Summary | Assignment
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Added on 2021-01-02
(PDF) Individual Plan Executive Summary | Assignment
Added on 2021-01-02
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Individual Plan
EXECUTIVE SUMMARYThe present report discusses Gymshark which is a brand of gym wear founded by BenFrancis in year 2012. The organisation is dealing with some of the issues such as no plans foropening own store and increased competition in the market. In order to deal with all of them it isvery important for Gymshark to formulate a marketing plan to market all the products and attractlarge number of customers. For this purpose, manager’s different aspects such as environmental,competitive and internal analysis are determined in this report. These are conducted with the helpof different tools such as PESTLE, SWOT and Porter's five forces model. All of them helpedmanagers of Gymshark for successful formulation of a marketing plan.STP model is also usedfor the purpose of formulating marketing strategy which covers three different elementssegmentation, targeted customers and promotional activities. Different elements of marketingmix are also analysed in this report in order to fulfil needs of customers and measure strength ofthe company. As competition in the sector is increasing massively so, it has been recommendedto Gymshark to create an attractive marketing plan which can help to deal with competition inthe market.
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................1ENVIRONMENTAL AND COMPETITIVE ANALYSIS.............................................................1PESTLE analysis.........................................................................................................................1Porter's five force analysis...........................................................................................................3SWOT ANALYSIS.........................................................................................................................5SWOT analysis............................................................................................................................5MARKETING OBJECTIVES.........................................................................................................7Objective 1...................................................................................................................................7Objective 2...................................................................................................................................7Objective 3...................................................................................................................................7MARKETING STRATEGY............................................................................................................8STP analysis.................................................................................................................................8MARKETING MIX.........................................................................................................................94 P's of marketing........................................................................................................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONMarketing plan is a document which consists detailed information of organisation'sproposed marketing activities. It is as important as business plan because without it, businessentities cannot aware customers regarding all products that are sold by them. In order to be ontop of industry all companies are required to formulate it in a proper and structured manner sothat all predetermined objectives could be achieved. Marketers create it by analysing variousfactors such as market conditions, latest trends, customer's taste, preferences, requirements andneeds. All of them helps to form an effective marketing plan which could be implemented toattract large number of patronages (Aremu and Saka, 2014). Main purpose of it, is to spreadawareness of products and services which are sold by company. Organisation which is selectedfor this project is Gymshark which is an online fitness clothing brand. It was founded by BenFrancis in year 2012 at the age of 20. Marketing plan is very important for Gymshark as it canhelp to reach maximum number of clients and aware them regarding all products that are sold byit.This report covers various information such as application of different techniquesincluding PESTLE, Porter's five forces, SWOT analysis for the purpose of environmental,internal and competitive analysis. Formulation of SMART objectives, development of marketingstrategy which is based upon STP and elements of marketing mix are also discussed under thisassignment.ENVIRONMENTAL AND COMPETITIVE ANALYSISPESTLE analysisEnvironmental analysis: It is vital for all business entities to analyse environment whereit is executing business activities. For this purpose, PESTLE analysis can be conducted. Allelements which of it that are analysed for Gymshark are as follows:Political: There are various types of political situations which are affecting Gymsharksuch as Brexit which has left impact upon importing of products which are sold by it.Some of the political parties take interest in improvement of health of country whichenhanced customer's interest in sports brands such as Gymshark (PESTLE analysis.2019).1
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