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Principle of Marketing Assignment - Gym shark

Added on - 23 Nov 2020

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PrincipleofMarketing
EXECUTIVE SUMMARYMarketing plan refers to a guidelines which is developed by an organisation in order todesign marketing strategies and plan that will adopted by a company in future and it may be aftermonth, quarter or year. It is essential for a company because by it they able to identifyopportunities as well as threat that help them in develop plans and policies in effective as well asappropriate manner. Along with this by it company also able to develop objective which they canfulfil in appropriate time period in order to attain respective objective in proper way. For thisassignment Gym shark company is taken which is founded in year 2012 and they are offeringfitness as well as gym clothing through online source. They conduct analysis of macro and microenvironmental factors by using PESTEL and SWOT analysis. By using this respective companyable to evaluate factors which may affect respective company, it may be internal factors orexternal factors. Through this they able to develop strategies and plans in effective as well asappropriate manner. Along with this they also develop SMART objective which help them indeveloping plans for attaining goal. The respective company also conduct analysis of marketingmix so that they can identify target customers.
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY..................................................................................................................................1Environmental and Competitor Analysis....................................................................................1SWOT Analysis..........................................................................................................................3SMART Marketing Objective:....................................................................................................3Marketing Strategy:.....................................................................................................................5Implementation of Marketing Mix on Gymshark.......................................................................6CONCLUSION................................................................................................................................7REFRENCES..................................................................................................................................8.........................................................................................................................................................8
INTRODUCTIONMarketing plan refers to a report or framework which develop guideline for marketingstrategies which an organisation will adopt in up coming year, quarter or month. Generally it willa complete overview of a business units, its marketing activities as well as advertising goals andobjectives. Along with this it include current plans and strategies which can be adopted by acompany for gaining high position at a marketplace. Marketing plans is important for everycompany because by it they able to identify marketing opportunities as well as threats. By it acompany also able to focus on their objective and identify future development plan which help acompany in growing their business in effective manner. Organization taken for this assignment isGym shark which is a established in year 2012 and they are conducting their business throughonline medium on that they are providing fitness clothing. Such as vests, hoodies, T- shirts andleggings(Baker and Saren, 2016). Moreover they are offering their products on global marketwhich include 177 countries like USA where they are selling their 40 percent of products. Topicinclude in this report are analysis of micro and macro environmental factors by using PESTELand SWOT of respective company. It also include SMART marketing objective aswell as itinclude marketing strategy of Gym shark company. Along with this it include marketing mix inrespect of Gym shark company which is used for growth and market shares. By analysis all thesefactors of respective company will develop their marketing plan which help them in developingstrategies as well as policies accordingly which leads to growth.MAIN BODYEnvironmental and Competitor AnalysisFor analysing environmental and competitors Gym shark company adopt PESTELanalysis through which they able to know external factors which are affecting them in theiractivities, explanation of this are mentioned below:-Political factor:These factors are whole regarding how and at what level government interfere intoeconomy or particular sectors(Carins and Rundle-Thiele, 2014). It involves corruption, taxpolicy, trade restrictions and so on. As Gym shark operates into fitness sectors so it have tofollow the some political regulation to ensures that their business is functioning in ethical way. Inevent that United Kingdom have strong democratic traditions. Respective country have respects1
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