Marketing Strategy Analysis and Implementation

This assignment explores the crucial role of marketing strategy in achieving business success. It utilizes a PESTEL analysis to understand external factors influencing the market. The report delves into the company's strengths and weaknesses, emphasizing the importance of segmentation, targeting, positioning, and the marketing mix (product, price, place, promotion). The analysis concludes by highlighting the significance of a well-crafted marketing strategy for survival and growth in today's competitive landscape.

Marketing Plan-
Gymshark

EXECUTIVE SUMMARY.............................................................................................................3
INTRODUCTION...........................................................................................................................1
1.PESTEL Analysis.....................................................................................................................1
2.SWOT Analysis of organisation...............................................................................................3
3.SMART objectives of the company.........................................................................................4
4.Marketing strategy of the company..........................................................................................4
5.Marketing mix in growth and market share..............................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

EXECUTIVE SUMMARY
This report is based on marketing plan, under which many factors of marketing has been
discussed. A big introduction is given about the concept of marketing plan to make it easy for
the reader to understand it. With the help of PESTEL analysis some of the macro factors has
been discussed which is affecting the operation of the Gymshark. SWOT is also conducted for
determining the need of improvements in the company’s performance. Some objectives has been
created of the organisation to achieve it in future for increasing their market share and customer
base. Company’s marketing strategy has been made with the help of segmentation, targeting and
positioning tools ad other than this hoe does marketing mix is affecting the growth and market
share of the organisation getting affecting is also analysed.

INTRODUCTION
Marketing is the method that every organisation using for promoting their business activities and
selling their products. Marketing include many activities like advertisements, sales and
distribution. It is an action every organisation take to attract customers and to maintain
relationship with them, this is also related to keeping networking with the past clients through
writing emails, meeting with them on coffee and returning calls. Company called Gymshark is
taken to understand this concept of marketing. It is an UK based retail company which has
engaged into manufacturing of rage of hoodies, vests, T-shirts and leggings. It is completely
dealing in sportswear & fitness items and serving all over the world including 177 countries; it
came into existence in 2012 (Atwal and Williams, 2017). Further in this report organisations
strength and weaknesses will be discusses as well as its opportunities and threats will also be
analysed. Apart from this, determination of External factors which is impacting organisation’s
performance will be done.
Purpose of marketing plan is to set the organisation at certain level in marketing, it
help the organisation to grow and make strategies which increases customer base of
the company.
It is important for Gymshark as it proving a step to be successful business and also play an
important role in creating a relationship between clients and company (Baltes, 2015).
1.PESTEL Analysis
PESTEL analysis is a tool or framework that every company including Gym shark is using
because this help them to analyse the macro factors that impact the performance of the company.
This is a useful tool at the time of entering in new market or opening a new business.
 POLITIAL- These factors are related to the impact of government decisions on the
activities of the organisation. Stability/ instability of the government of UK also affect the
operations of Gymshark. For working in this economy company has to follow political
guidelines to operate legally and peacefully. UK have a huge respect for the human rights as
well as for the civil liberty, for example government has launched a campaign called
change4life for encouraging people who have very active and positive lifestyle. This is an
online campaign for which people have to sign up and get regular health tips, ideas, recopies
which help them to stay fit. This is the fitness initiative taken by the government which is a
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very great opportunity for the Gymshark; they can increase their business by operating in
business industry.
 ECONOMIC- This factor is related to the economy of UK and how does it impact the
performance of Gymshark. There are some other economic factors also like
inflation/deflation, skilled labours, interest rate, and exchange rate, disposable income etc.
these are the macro factors that impact the operations of organisation. For example inflation
rate of UK economy is increasing from last year which is reducing the purchasing power of
customers. This is negatively impacting the operations of Gymshark by reducing its sales.
other than this, increasing GDP is contributing in the service industries which is a good
opportunity for the company to grow in the market (Macarthy, 2018).
 SOCIAL- These factors are related to the customer’s preferences, choice, culture, belief,
attitude etc. and these affect the performance of the company. Every organisation including
Gymshark is working for the customers to fulfil their demands and needs so this factor is
very important for the organisation. For example health trend is increasing among people of
UK, the prefer healthy food to eat, stay healthy by yoga and exercising. Health venture of
UK are very famous which is creating a very good opportunity for the Gymshark to grow
itself because it is targeting age group of 16-25. This age group of people are more engaged
health related activities which enhances the sales of the organisation.
 TECHNOLOGY- Technology is another factor which affects the activities of the company.
It is growing very rapidly which is changing which is affecting marketing and management.
It is facilitating new ways of producing goods and services to the company, new distribution
channels and different ways of communication. For example, as per the survey in UK
around 38 million people are active on the social media which includes twitter and facebook.
They belong to the age group of 20 to40 years which is the targeted age of Gymshark, these
technologies are helping company to promote their brad very much by reaching to the large
audience. These tools are also helpful of the organisation to get the feedback from the
customers.
 ENVIRONMENTAL- These are other factors that affect the performance or operation of
the companies. This includes scarcity, population, sustainability, carbon footprint etc which
impact the operation of the Gymshark. These factors are gaining importance significantly
from last few decades. Citizens of UK is increasing their interest in environmental friendly
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products and spending more on it. This is an opportunity for the Gymshark as it is avoiding
usage of heavy metals and environmental friendly raw material. This is increasing trust of
people on the company which in return increasing their customer base. Company is
manufacturing good quality of sportswear without harming the environment which attract
customers as well as increases the sales of the company.
 LEGAL- Legal factors are the regulations, laws and policies made by the government
which is affecting the performance of the company. It includes health & safety, equal
opportunities; consumer’s right and laws, product labelling and product safety etc. UK’s
legal system is very transparent and organised, and as per the legal laws of UK government,
companies are required to perform their activities ethically like they have to follow the
minimum wage act, all the labour laws so that employees performing in the organisation do
not get exploited. Gymshark is following all the laws and policies of the government which
is attracting customers for them and improving their brand image (Baker and Saren, 2016).
2.SWOT Analysis of organisation
It is a tool that every company including Gymshark is using for analysing their
internal strength and weakness as well as the external threats and opportunities. Swot
analysis helps the companies to take major decisions which help them to grow into the
market. It also shows a degree to which micro and macro environment matches with each
other.
 STRENGTH- Strength is the factor which make organisation different from others.
Gymshark is serving entire world is one of their strong point because it has created huge
customer base for the company which in return affecting their sales very much. Other
than this, company is performing on a very big platform so its financial position is also
very strong that is helping the organisation to take big decisions regarding expansion and
diversification. Price range of Gymshark is also reasonable which is making customers
happy and attracting toward the company. All of this make organisation different from
their competitors and help them to grow in the market.
 Weakness- Every organisation have some weaknesses in them which they need to
improve so that they can sustain in the market for the longer period and achieve their
goals. Some of the weaknesses of the Gymshark is that they are offering their services in
the china also which is causing them with additional costs in import. Other than this
company is using traditional methods of manufacturing their products which is their
major weakness as it is stopping them from growing in the market. Gymshark is only
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dealing in the sportswear which is also act as the weakness of the firm, it should diversify
their business by dealing in different varieties of products.
 Opportunities- Working on such a large platform bring many opportunities for the
company, they can avail it by their good strategic planning and analysing their internal-
external environment. One of the major opportunity of the company is expansion of their
business by diversifying to different areas. Company is only engaged in production of
sports and fitness wear clothing because of which their target customers are limited to
that only. But after expanding the products Availability Company can reach to many
more buyers that will help in increasing their sales and to grow in the market. Other than
this government encouragement for the healthier lifestyle is also act as the great
opportunity for the company because it will influence many customers toward the
organisation.
 Threat- Competition is the major threat that every organisation faces including
Gymshark. There are many other competitors in the market who are serving worldwide
with many products which is creating a threat for the company and make it difficult for it
to survive in the market (Hasan and Ali, 2015). Many other companies are providing
similar products with similar functions break the firm’s customers and they get shift to
other brands. Other than this complete knowledge to the customers regarding the
substitutes of products are also act as the threat for the company because it reduces its
sales and profits.
3.SMART objectives of the company
 Gymshark’s objective is to increase their sales by 30% in next 2 years.
 Company is planning to diversify their business in coming one year so that their profits
can increase.
4.Marketing strategy of the company
Marketing strategy is the grand plan of the company which they make so that they can
reach to their customers and attract them toward the company. Marketing strategy include many
important things related to the company like marketing message, value proposition, information
about the target market, budget plans, segmentation of the entire customer base etc. all these
combined are called marketing strategy. This help the organisation to run their activities
smoothly and efficiently utilise the resources available. This is the grand planning for achieving
the goals and objectives of the company.
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 Segmentation- Company is currently segmenting their customers on the basis of their
age group like they are making sportswear items or the age group of 16 to 20. Company
is require to expand their business by targeting more people on the basis of their income
so that all income group of people can buy it (Cacciolatti and Lee, 2016). This will help
the organisation to increase their sales because now days every person choose methods to
stay fit like running, morning walks, yoga, Gym etc. for which they require appropriate
outfits which gymshark is providing. Similarly with the income, company should focus
on all the age group of people because all are getting health conscious and purchasing
these type of cloths of exercises or for sorts activities.
 Targeting- once the segmentation stage is over in which company has chosen different
segments to target now their next step is to select one or two among them. This is so
because it will help the company to focus on them and make more profit by serving them
with good quality. Among the above mentioned segments company should opt for the
demographic segment as well as behavioural segment because it help them to target more
people which is important for the organisation. For example if company is targeting
behavioural segment they can focus on brand loyal people who love to wear branded
items on the other hand when company is targeting demographical segment they can
target all age group and income group people because they will help in increasing the
sales of the company.
 Positioning- This is the last stage in which company need to focus. Gymshark have to
create a brand image in the mind of people that when they think of fitness or sportswear,
only Gymshark come into their minds. This will help the company to expand their
business and grow in the market. It also provide competitive advantages to the company
5.Marketing mix in growth and market share
Marketing mix is the marketing tool that company use of knowing their competitiveness in
the market. It includes -:
 Products- Company is currently dealing in the sportswear which include vests, hoodies,
t-shirts and leggings. All these are the fitness items which is targeting the health
conscious people in the world. Now days people are getting very much health conscious,
and focusing on yoga, gym, morning walks etc which is affecting the company in
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appositive way. Gymshakr is providing their products as per the demand of the customers
and of good quality which is helping them to grow their market share.
 Price- Gymshark is providing fitness clothing at very reasonable rate which is making
customers happy and attracting them toward the company. This attraction is increasing
the sales of the organisation which is helping company to grow itself and to enlarge its
market share.
 Place- Company is serving their worldwide customers which s making it very famous
one. It is having its outlets in more than 177 countries which mean Gymshark has large
customer base which is helping them to grow. Other than this market share of the
organisation is also very large as it is running their operations globally.
 Promotion- promotional an activity of the company is also is very strong, Gymshark is
working worldwide on a large platform it is having a good customer base because of their
excellent advertisement skills. They have their marketing team which plan for the
organisation, other than this company also put famous celebrities in their advertisement
which is a very important element for them to influence customers toward them (Patrutiu-
Baltes, 2016).
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CONCLUSION
From the above report it has been concluded that marketing strategy is an important
element in achieving the success of the company. With the help of the PESTEL analysis impact
of the external factor has been understood while making this assignment. Company have many
strengths as well as weaknesses which they have to reduce for surviving in the market. Apart
from this, importance of segmentation, targeting, positioning and marketing mix have also been
analysed.
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REFERENCES
Books and Journals
Patrutiu-Baltes, L., 2016. Inbound Marketing-the most important digital marketing
strategy. Bulletin of the Transilvania University of Brasov. Economic Sciences. Series
V. 9(2). p.61.
Cacciolatti, L. and Lee, S. H., 2016. Revisiting the relationship between marketing capabilities
and firm performance: The moderating role of market orientation, marketing strategy
and organisational power. Journal of Business Research. 69(12). pp.5597-5610.
Hasan, Z. and Ali, N. A., 2015. The impact of green marketing strategy on the firm's
performance in Malaysia. Procedia-Social and Behavioral Sciences. 172. pp.463-470.
Baker, M. J. and Saren, M. eds., 2016. Marketing theory: a student text. Sage.
Baltes, L.P., 2015. Content marketing-the fundamental tool of digital marketing. Bulletin of the
Transilvania University of Brasov. Economic Sciences. Series V. 8(2). p.111.
Macarthy, A., 2018. 500 Social Media Marketing Tips: Essential Advice, Hints and Strategy for
Business Facebook, Twitter, Pinterest, Google+, YouTube, Instagram, LinkedIn, and
More!. CreateSpace Independent Publishing Platform.
Atwal, G. and Williams, A., 2017. Luxury brand marketing–the experience is everything!.
In Advances in luxury brand management (pp. 43-57). Palgrave Macmillan, Cham.
Kumar, V., 2015. Evolution of marketing as a discipline: What has happened and what to look
out for. Journal of Marketing. 79(1). pp.1-9.
Astuti, R., Silalahi, R. L. R. and Wijaya, G. D. P., 2015. Marketing strategy based on marketing
mix influence on purchasing decisions of Malang apples consumers at Giant Olympic
Garden Mall (MOG), Malang City, East Java Province, Indonesia. Agriculture and
Agricultural Science Procedia. 3. pp.67-71.
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