Principles of Marketing: Gymshark Report on Marketing Strategy

This report presents a comprehensive marketing plan for Gymshark, a prominent fitness clothing brand. It begins with an executive summary and outlines the purpose of the marketing plan, which is to improve and maintain market share. The report then delves into environmental and competitor analyses, employing PESTLE and Porter's Five Forces models, respectively, to assess external factors and competitive dynamics. A SWOT analysis identifies Gymshark's strengths, weaknesses, opportunities, and threats, which informs the setting of three key marketing objectives: building brand awareness, enhancing customer relationships, and targeting new customers. The report further details the development of a marketing strategy using the STP process (segmentation, targeting, and positioning). Finally, it explores the marketing mix, focusing on product, price, promotion, and people strategies to enhance Gymshark's market performance. The report emphasizes the importance of customer relationships and adapting to market trends for sustained growth.

Principles of marketing

Table of Contents
INTRODUCTION...........................................................................................................................3
Main body........................................................................................................................................3
Executive summary of company.................................................................................................3
Purpose of marketing plan..........................................................................................................3
Environmental and competitor analysis......................................................................................3
Swot analysis of the Gym-shark ................................................................................................6
Based on Swot analysis three marketing objective.....................................................................7
Developing the marketing strategy.............................................................................................7
Marketing mix of Gym-shark......................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing is the important part of the every successful organisation because it plays a
significant role in the accomplishment of the organisational goal. A business survive
successfully in the market place because of customer retention and increase in the market share
which can be possible only through marketing strategies because it helps in satisfying customer
beyond their expectation. Marketing element of the organisation identify the changes and trends
and also develop the strategies to respond this problem which help the company to keep its
customer happy. Report will present the marketing plan of the Gym-shark fitness clothing
company. The marketing plan includes the environmental and competitor analysis of the Gym-
shark as well as also analyse the swot analysis and marketing strategy of the Gym-shark.
Main body
Executive summary of company
The Gym-shark is the fitness clothing brand and it was established by Ben Francis in
2012 through online selling. Company operates its business operations across the 177 countries
worldwide. It also sells its product in USA where it makes about 40% of its sales. Company sale
its products directly to the consumers. Company owner Francis maintains that this direct
approach allows the enterprise to control its own destiny through collecting and acting on
customer feedback(Baker, 2016).
Purpose of marketing plan
The main purpose of marketing plan of the Gym-shark company is to improve and
maintains its share and growth in the market place. Company has carved its self a niche in the
crowded sportswear market through building a relationship with its consumers which results in
increasing the productivity of the firm. Company can accomplish these business objective
through promoting their business in the market place.
Environmental and competitor analysis
The environmental analysis of the Gym-shark can be effectively done through Pestle
analysis tool because it asses the various environmental factor of the company such as political,
social, technological, environmental and legal factor.
Political factor: Gym-shark operates its business operations in its fitness industry so it complies
with certain political guidelines to assure the business is operating in the legal way. United
Kingdom has strong democratic tradition which is great in respect for human rights and the

public sector is accountable. Gym-shark operates its business at the global level and every
countries' government has its own rules and regulations which has great impact on the
profitability of the business because Gym-shark need to make its company policies according to
the government policies in which company operates its business activities and this process will
consume high cost which results in decreasing the profitability of the enterprise.
Economic factor: This factor has great impact on the productivity of the firm due to economic
down turn and changes in the taxation rates(Baverstock, 2015). Economic condition of the
company have the highest impact on the business activities of the Gym-shark.
Social factor: The health care system of the united kingdom is one of the successful social part
across the world because of advanced health care system and private sector involvement. Gym-
shark has the great impact of the social factor as it is fitness clothing brand and the trend of
fitness cloth changes on regularly basis which affect the productivity of the firm. The UK's
government focused on improving the income inequality, it is the opportunity for Gym-shark to
expand its market size.
Technological factor: The technological advancement in the market place also affect the growth
of the Gym-shark in the market place because companies with high technological advance
produce the best quality product in the market which helps in increasing the productivity of the
firm. It also includes the various technological sources which build the higher level of brand
image. For example, through utilising the Facebook platform Gym-shark can effectively reach
out its target customers and it would be easy for the company to monitor the result and feedback
from the consumer.
Environmental factor: This factor has great impact on the productivity of the firm because
nowadays customers are seen to be spending more towards the environmental friendly products.
In this Gym-shark need to avoid heavy metals and environment friendly raw materials for
producing sports cloths. It serves as the better opportunity for Gym-shark because production of
the sports wear to be more environment friendly as compared to other firms of sport apparel with
this advantage Gym-shark can attract more consumers.
Legal factor: This factor also affect the business operation of the Gym-shark because the legal
system of the UK is organized and efficient which makes the environment that is conducive to a
business. In this Gym-shark need to set their wages and employment according to the local
standard of the UK's government(Chernev, 2015).

Competitor analysis of Gym-shark
The competitor analysis of the company can be effectively analyse through porters five
forces model which determine the intensity of the competition and the profitability as well as
attractiveness of an industry.
Threat of new entry: In the fitness clothing industry, running a business requires a lot of terms
and condition. It includes the various concerns for entering in a new industry such as capital
requirement, advance technologies and economic scale. To creates the barrier in entry, Gym-
shark needs to investing certain amount of finance to compete. Gym-shark has the low threat of
new entry company because it provides the clothes which are different from other companies and
also design the good looking clothes which work practically at the gym.
Threat of substitution: It refers to the product and services which offer similar benefit and
products to the industry but with a different process. Different type of sports activity required
different kind of sport cloths and the Gym-shark provides the product and services according to
the need of customers because company has demographic core which identify the requirement of
the customers effectively(Dib, 2018).
Buyer power: Bargaining power of customer directly affect the productivity of the firm because
it results in the less price of the product. Customer has a strong bargaining power when perfect
competition happen and many companies produce similar products and services. The low buying
power make a Gym-shark company more attractive and increase the potential revenue.
Illustration 1: Porter's five forces model

Supplier power: This factor has great impact on the product in terms of increasing the price and
product quality. If there is a few suppliers and many buyers, the bargaining power of the supplier
is high which results in the decreasing the productivity of the Gym-shark. In this situation
according to case study Gym-shark started its outsourcing most of in the china and there will be
various manufacturing operation which help Gym-shark to find better supplier easily.
Competitive rivalry: Gym-shark have an internet business through which they can enjoy
maximum flexibility in the working environment(Kenny and Dyson, 2016). The innovation,
agility and ability to react quickly to market trends is the key advantage for Gym-shark which
helps the business in terms of achieving the desired level of growth and profitability.
Swot analysis of the Gym-shark
The internal analysis of the Gym-shark company can effectively done through using swot
analysis. It identifies the strength, weakness, threats and opportunity of the Gym-shark company.
Strength
 It has a strong relationship with its
customers.
 It provides the product on reasonable
price in the market pale.
 Gym-shark has the N-number of the
followers because its provides its
services online.
Weakness
 it requires investing certain amount of
funds for the R&D to invent new
products in the market place.
 The substitute product and services are
available in the market place.
Opportunity
 As it has better relationship with
customers which helps in identifying
the various needs of the consumers and
results in higher productivity and
profitability of the Gym-shark.
 Through its demographic core, Gym-
shark provides the products and
services to the customer which result in
improving the brand image of the firm.
Threats
 It has a threat of competitors because
they offer the alternate product to
attract the customers.
 Products that provides the similar
function has become a threat to Gym-
shark company.

Through above analysis Gym-shark has been experience the product development and
introduction period(McCulloch, 2019). For maintaining the higher level of performance for
Gym-shark in the market place they a proper marketing strategy is essential. As it has the strong
relationship with customers which plays an important role in improving and maintaining the
growth of the company as well as market share of Gym-shark.
Based on Swot analysis three marketing objective
Through above swot analysis Gym-shark can effectively set the marketing objective
which helps the company to grow and improve market share such as Building brand awareness,
it can be build by the Gym-shark through providing better quality good and services according
the to the need of customers. The second objective is to enhance customer relationship which can
be possible through taking feedback from its existing customers and also take the suggestion
from them in terms of improving the product quality. The third objective is targeting new
customers through promoting their business in the market place which help the Gym-shark to
grown and improve market share.
Developing the marketing strategy
The marketing strategy of Gym-shark company for improving and maintaining the share
and growth in the market place can be effectively develop through STP process which includes
segmentation, targeting and positioning of the Gym-shark company(McDonald and Wilson,
2016).
Segmentation: The marketing strategy is used by the Gym-shark is a demographic segmentation
which includes the various factors such as age, gender, family size and income of the customers.
Companies targets the customers in those age between 18 to 25 because they live revolve around
fitness. Through developing demographic segmentation strategy Gym-shark company can
effectively identify the individual segment of the market place which are most likely to buy your
products. Gym-shark company identify the customer need according to the various demographic
factors which results in increasing the growth of the company in the market place.
Targeting: Gym-shark can effectively develop the marketing strategy through targeting their
customers by creating the group of different age peoples according to their different types of the
needs. Gym-shark targets 18-25 age group people both male and female customers. Grouping
peoples provides the information for Gym-shark to target a segment of the market(McDONALD,
2016). It will create after creating the segment which will provides the high growth and market

share from the market place. In this marketing strategy designs more efficiently through using
pestle analysis which provides the information about the external environments.
Positioning: It is the final part of STP process which identifies the methods in which Gym-shark
can market their product to the target segment of customers. Gym-shark can develop Unique
selling position for offering the best quality and unique product in the market place which is not
offer by the competitors. In this company designed for the cool and comfortable workout and
allowing consumers for ultimate performance. Gym-shark can attract its target customers
through producing wide range of man, women and various accessories(Paley, 2017). Enterprise
need to focused on the customer because consumers plays an important role in shaping fitness
industry.
Marketing mix of Gym-shark
The marketing mix strategy plays an important role in improving and maintaining the
growth and share of the Gym-shark in the market place. It includes four main elements such as
product, price, promotion and people, through using this element Gym-shark can increase their
productivity as well as profitability of the business.
Product – This element of marketing mix includes the goods and service which are provides by
the Gym-shark to customers in the market place. Gym-shark provides the wide range of vests,
hoodies, t-shirt and legging which has gone at the global level which improves the market share
of the firm at the international level. It also provides the affordable products for both man and
women which encourage them towards the Gym-shark company.
Price – Gym-shark provides its fitness clothing products to the customer on the price which
affordable for them which results in increasing the productivity of the firm(Siguaw and
Simpson, 2015). Gym-shark can effectively improve and maintain its market share and growth
through developing the market penetration pricing strategy. In this strategy company set the
product price which can accept by the majority of peoples in the market place. It also ensures the
success of the organisation in the way that are supportable and sustainable.
Promotion – Gym-shark company is promotes its business activities and product through
various social media channels which results in improving the market share as well as growth of
the company at the global level. Gym-shark promote their brand products and services through
social media content and travel the world with the Gym-shark to meet fans. It can also improve
the growth of the firms through sponsoring popular you-tubers, Instagrammers and blogger with

a combined following of 30 million. It also has the highly engaged following by its network of
fitness influencer which promote the product and services of the Gym-shark at the global level
increase the growth and market share of the company at the market place(Wong and et.al.,
2016).
Place – This element of marketing mix shows that how Gym-shark company deliver its product
or services to customers. As Gym-shark company focuses on online ordering system which is
based upon the customer support. Gym-shark sells online directly to customers and it has not
wholesale stockist. The Francis maintain this direct approach which allows company to control
its own destiny through collecting and acting customer feedback which results in improving and
maintaining the market share as well as growth of the Gym-shark in the global market
place(Zhang and Yeung, 2016).
CONCLUSION
From the above study, it has been summarised that marketing plan of the company is very
efficient and contributes a lot towards the attainment of the objective of a company in a very
effective manner. The marketing plan of the company contain seven elements. First and
foremost is executive summary of the company which is very interesting. Then the next element
of the marketing plan is concerned with the purpose of marketing plan. The purpose of
preparation was to maintain and grow the market share of the company as well as its market
place. Next element of marketing plan was environmental and competitor analysis. In order to
carry out environmental analysis, company used PESTLE analysis. While on the other hand, for
the purpose of competitor analysis, company adopted porter's five force model. Then the next
element was the swot analysis of the company which clearly highlighted the strengths,
weaknesses, opportunities and threats of the company. After that marketing objective was
determined based on the swot analysis as well as a proper marketing strategy was developed
which highlighted segmentation, targeting and positioning. Finally, the last element of
marketing plan was discussed which highlighted the marketing mix elements such as product,
price, promotion and place.

REFERENCES
Books and journals
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Routledge.
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Dib, A., 2018. The 1-page marketing plan. Page Two Books.
Kenny, B. and Dyson, K., 2016. Marketing in small businesses. Routledge.
McCulloch, A., 2019. Marketing Your Program: Innovation in DSMES Programs, Part 2. AADE
in Practice. 7(1). pp.40-42.
McDonald, M. and Wilson, H., 2016. Marketing Plans: How to prepare them, how to profit from
them. John Wiley & Sons.
McDONALD, M.A.L.C.O.L.M., 2016. Strategic marketing planning: theory and practice. In The
marketing book (pp. 108-142). Routledge.
Paley, N., 2017. How to Develop a Strategic Marketing Plan: A step-by-step guide. Routledge.
Siguaw, J.A. and Simpson, P.M., 2015. A marketing plan for marketing instruction: A satirical
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Wong, H. and et.al., 2016. Marketing Plan Report.
Zhang, J. and Yeung, D., 2016. Sales and marketing.