Marketing Plan Effectiveness and Competitive Market Position

This assignment discusses the importance of a marketing plan in an organization's success. It outlines how a comprehensive marketing plan can guide a company's strategy and resource utilization to achieve its business goals. The PESTLE analysis is used to identify the organization's competitive position in the market, while the SWOT analysis helps to capitalize on opportunities. The marketing mix is also crucial in placing the right product at the right time and place to attract customers. By incorporating these elements, a well-crafted marketing plan can drive business growth and success in a competitive market.

Marketing Plan

Table of Contents
INTRODUCTION...........................................................................................................................1
Marketing plan and its importance for an organisation..........................................................1
Analysing PESTLE, Porters five forces and internal issues on an environment...................1
SWOT analysis of an organisation.........................................................................................3
Based of SWOT analysis developing marketing objective that help to grow and improve
marker share...........................................................................................................................4
Developing marketing based segmentation, targeting and positioning .................................4
CONCLUSION................................................................................................................................6
REFRENCES...................................................................................................................................8
.........................................................................................................................................................8

INTRODUCTION
In toady's era marketing plan play's an effective role within an organisation as it is a
form of documentation for out reach and advertise in order to reach target market. It basically
pulls together all campaigns that are under taken over period of time with additional information
how marketing can be done for particular product (Juhlin and Soini, 2018). In this report
organisation chosen is Gymshark, a fitness apparel and accessories brand manufactured online
retailer based on United Kingdom. This report is going to analysis purpose of marketing plan and
is importance in Gymshark. Moreover, identifying its competitive analysis by adopting
PESTLE, Porters five forces and internal issues along with its SWOT analysis in competitive
marketplace. Apart from this preparing marketing objectives to grow and improve into
marketplace based on segmentation along with 4P's of marketing.
Marketing plan and its importance for an organisation
A marketing plan is comprehensive document that basically outline a company's overall
marketing efforts. In other word it can be said as that it is blueprint how a company will going to
implement its strategy and making use of effective resources in order to achieve business
objectives. Herein, the purpose is to set a company's specific course of marketing plan.
Moreover, it is important for a Gymshark as it will help them to focus on resources that they
have planned for business growth and expansion in competitive marketplace.
Analysing PESTLE, Porters five forces and internal issues on an environment
PESTLE Analysis: It a framework or a tool that are used by many organisation in order to
monitor external environment factors that have impact on an organisation. Herein, Gymshark
are adopting this tool in order to know its competitive analysis in marketplace.
Political factor: Political factor that determines the extent in which government
intervention or its policy impact within organisation or a specific industry. Herein, Gymshark are
operating in fitness industry in which they are complying with government and political
guidelines in order to ensure its business operating in an legal manner. Moreover, UK
government are supporting it in order to promote health life style for people (Oreski and
Dilaveri, 2017).
Economic factor: It refers to economic factor that have signifiant impact on business
operation such as economic growth, interest rate, inflation etc. in context to Gymshark are
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contributing its growth with the fixed investment rate as it was the main driver of growth in
developing their business effectively. Thus, respective company is increasing GDP growth for
an economy.
Social factor: This factors refers to social environment that help an organisation to
understand customer need and requirement. Such as cultural trends, attitude and change in
lifestyle. Herein, Gymshark are coming up with such product that are suitable for age as well as
class of people. As UK is more rich towards health and people enjoy standard of living other
than develop countries.
Technology Factor: This factor is consider about rate of technology innovation and
development that affect a market industry. Herein, as per case it has been determined that
Gymshark are active on social media such as Facebook, Twitter and Instagram. Thus, they have
created platform to reach out audience in an attractive manner (Lourenço, 2018).
Environment factor: This factor is basically influenced by surroundings environment
that impact organisation such as change in climate, carbon foot print and sustainability. In united
kingdom people are more concerned about environmental friendly product so it is a good
opportunity for Gymshark to develop their product friendly as compare to other sport appeals in
order to attract large number of customers
Legal factor: Herein, this factor indicates that an organisation need to follow certain
rules and regulation that are abided by government such as consumer law, health and safety
measure, trade rules and regulation. Herein, the legal structure of UK is transparent and effective.
Herein with effective transparent rules and regulation Gymshark can grow and develop in an
attractive manner.
Porters five force analysis: It is a model that identifies and analysis competitive position that
help to shape an organisation in competitive marketplace. This model is usually adopted by
organisation to determine intensity of competition and its profitability as well as attractiveness
of an industry.
Threat of new entry: In today's context it is not easy to run an business in competitive
marketplace. Herein, in order to reduce barriers of entry that need high capital investment such
as R&D. For such purpose Gymshark require high investment in order to compete in same
industry line (Herrera, 2018).
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Threat of substitution: Substitution refers to the product and services that offer similar
benefit for product but with different process. Herein, Gymshark have various substitution such
as NIKE, ADIDAS in competitive marketplace. Herein, in order maintain its competitiveness an
organisation need to maintain their quality as well as reasonable price in order to maintain
stability for longer period of time.
Buyer power: Buyer power of customer refers to the potential buyers that spin down
price charged by a firm in order to increase cost by determining better quality of product and
services. Herein, a respective organisation need to have strong command over its product quality
so that they maintain their competitive advantage. Moreover, buyer power increase only other
seller has same product at lower cost.
Supplier power: Herein, Gymshark has outsourcing its material from china as there are
many several cost effective benefit as they can find supplier easily. Eventually, they have high
command over its suppliers with strong base of material. Thus, in marketplace supplier has
power to influence price of raw material (Haemers, 2016).
Competitive rivalry: In such case Gymshark can enjoy maximum flexibility in working
environment as it have high potential reach towards its target market. Apart from this they have
high potential instance in competitive marketplace.
Internal issues faced by Gymshark
Gymshark are one of the leading gym wear brand in United Kingdom ad they are
coming with all type of gym appeals for different age group of people. Apart from this some of
the issues are that they are operating online they do not have any retail store. Apart from, this
they have online benefit in UK but in other countries they will not have such advantage as they
have now.
SWOT analysis of an organisation
SWOT analysis is a framework that is used by many organisation in order to develop a
company's competitive position in order to develop strategic planning. Herein, Gymshark is
adopting this method in order to know its strength, weakness, threat and opportunities in
competitive marketplace.
Strength: Strength is described as those factor that defines strong brand image and high
customer base. Herein, strengths if Gymshark is that they are outsourcing from china which
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indicated that they have high bargain power to find suppliers. Along with this they enjoy stability
as they are offering their product at reasonable price.
Weakness: Weakness refer to those are where an organisation need to improve over it. Its
weakness is that they have to face high additional cost due to import cost, high investment in
R&D in order to invent new product as well as they have high competition in sports wear.
Opportunities: It refers to favourable external factors that a company attain in
competitive marketplace. Herein, a respective organisation have high opportunity to develop
product for high age group people as they want to keep themselves healthy. Apart from this
government are also supporting them to increase health lifestyle (Getkate, 2015).
Threats: This refers to those factor that harm an organisation in competitive marketplace.
Herein, threats for Gymshark are that they they have high number of competitors who are
operating at same business line. As competitors are providing exactly same product at same
price as well as in niche marketplace.
Based of SWOT analysis developing marketing objective that help to grow and improve marker
share
Smart Objective: A smart objective is defined as goal that indicates Specific, measurable,
available at acceptable cost as well as realist in nature. It basically gives direction to a particular
business in order to achieve their goals and objectives in competitive marketplace. Apart from
this it is one of the effective way as it is easy to understand as well as effective for a business to
come up with new product in an effective manner (Hegner and Getkate, 2015). Herein, the smart
objective for Gymshark is determined below:
Smart Objectives in context to Gymshark:
To start offline stores in UK within the time period of 2 Month to maximise the market
share by 20%.
To bring focus on new promotional models within the time period of 1 month to spread
awareness about their products and improve its brand image and goodwill by 20%.
To focus on the development of new products within 2 months of time period to cater the
need of old age people and improvement in market share by 20%.
Developing marketing based segmentation, targeting and positioning
Segmentation: Segmentation play’s an effective role as it helps in finding out the right
customer in order to attract towards an effective product and service. It basically refers to
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division of market into small group that comprise of individuals towards similar kind of
product and services. Herein, A respective company are targeting all group of people but
now they are coming up with old age group people who are concerned about health.
Moreover, they are divided their product as per medium group people etc.
Targeting: Once the market is divided as per segment then it became effective for an
organisation to know its target group in an effective manner. Herein, for a respective
company it is possible for them to target their product as per need and wants of customer.
Additionally, an organisation is targeting those customers who are concerned about active
gym and sports were (Herrera, 2018). Now they are expanding their business and targeting
old age group to become healthy and stay fit.
Positioning: In developing a product position is the last place where an organisation is
going to place its product into competitive marketplace. Herein, a respective organisation
is position its product in front its target customer by promoting product in competitive
market place. Moreover Gymshark are using Unique selling proposition such as attractive
gift items and discount on first purchasing. Thus, in this manner an organisation are
developing appositive image among its target group
Identifying marketing mix that help to improve an organisation grow and market share
Marketing mix is one of the most effective tool it help an organisation to put the right
place at right time and right place. Herein, Gymshark are using 4 P’s of marketing in developing
their product into competitive marketplace.
Product: A product is an item that that is built or produced to satisfy need of customer o
a certain group of people. Herein, Gymshark are coming up with new rage of product in their
existing product for old age group of people. As they are creating awareness of their product to
every age group of people that consist of both male and female. Though a product have a life
span for such purposing organisation need to stimulate its product in order to increase more
demand as it reaches to the maximum sales point. Its core product are gym appeal as they are
using unique material designing and branding of its product (Lourenço, 2018).
Price: The price of the product is basically the amount that a customer enjoy to pay.
Herein, price plays mad effective role as it is one of the most important component of marketing
plan. Basically it determines firms profit and survival in competitive marketplace. Herein, a
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respective organisation are adopting skimming pricing strategy so that each and every one can
enjoy its product and services in an effective manner.
Place: In context to marketing mix placement and distribution is very important as it
decide the place where its product are easily accessible to them. Herein, a organisation are place
their product and service on online mode. Therefore it become one of the negative pinot as they
are not offering their product on retail store. Thus, in order to grow and improve in competitive
market place with having a best opportunity by developing retail stores that people find it easy as
well as go for physical purchasing. Thus, with both online and retail store they can attain high
market share in competitive market place of same industry line (Juhlin and Soini, 2018).
Promotion: Promotion play’s an important role as it boost in marketing brand with a
recognition sales. Herein a respective organisation is adopting various such as advertising via
social media such as Facebook, Twitter, Instagram and YouTube channel’s etc.
Thus, marketing mix play’s and effective role in developing and attaining high market share by
providing premium quality of food and services in competitive market place.
CONCLUSION
From the above discussion it has been concluded that marketing plan play's an effective
role within an organisation as it is a form of documentation for outreach and advertise in order to
reach target market. In other word it can be said as that it is blueprint how a company will going
to implement its strategy and making use of effective resources in order to achieve business
objectives. It basically pulls together all campaigns that are under taken over period of time with
additional information how marketing can be done for particular product plan is comprehensive
document that basically outline a company's overall marketing efforts. Herein, with the
PESTLE, Poters five fore and internal issues and organisation will able to know its competitive
position in marketplace. Moreover, with the SWOT analysis an organisation can grab opportunist
so that they can develop their product in wider context . apart from this marketing mix is one of
the most effective tool it help an organisation to put the right place at right time and right place
so that an organisation can attract large number of customers towards. Thus, marketing plan
plays an effective role in developing products as well as attain higher growth rate competitive
market place.
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REFRENCES
Books & Journals
Juhlin, L. and Soini, M., 2018. How do influencer marketers affect brand associations?: a
semiotic Instagram study in the sports fashion industry.
Oreski, M. and Dilaveri, A., 2017. Good vibes? The effect Brand Experience has on Attitudinal
Brand Loyalty through Social Media.: A Quantitative Study.
Lourenço, B.M.C., 2018. Formatos Publicitários mais adequados aos Dispositivos Móveis:
Análise do Vídeo Vertical.
Herrera, R.D., 2018. Positive Deviance as a Framework for Understanding Motivations and
Barriers to Exercise for University Students at Campus Recreation.
Haemers, I., 2016. Success story of a young fitness brand: Social media influence as an indicator
of success in the fitness industry.
Getkate, D., 2015. Falling in love with your favourite brand: relationship between brand
consciousness, public self-consciousness, and brand love intensity (Master's thesis,
University of Twente).
Hegner, S.M. and Getkate, D., 2015. Falling in Love with your Favourite Brand: Relationship
between Brand Consciousness, Public Self-Consciousness, and Brand Love.
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