UWL:21376475 - Principles of Marketing: Gymshark Marketing Plan

This project report presents a comprehensive marketing plan for Gymshark, a fitness apparel and accessories company. It begins with an executive summary and an introduction outlining the purpose of the plan, which is to improve Gymshark's market share and explore wholesale and retail opportunities. The report then delves into environmental and competitor analysis using PESTLE and Porter's Five Forces models, highlighting political, economic, social, technological, legal, and environmental factors influencing the business, as well as competitive dynamics. A SWOT analysis identifies Gymshark's strengths, weaknesses, opportunities, and threats, followed by the establishment of three marketing objectives focused on increasing market share, expanding into wholesale and retail, and investing in research and development. The marketing strategy is based on STP (Segmentation, Targeting, and Positioning), focusing on demographic segmentation. Finally, the report discusses the marketing mix (7Ps) to provide a detailed plan for Gymshark's growth.

The Marketing Plans -
Gymshark
Uwl:21376475
Module: Principles Of
Marketing
Date Due:17th May 2019
•

Table of Contents
EXECUTIVE SUMMARY 1
INTRODUCTION 2
MAIN BODY 2
1. Purpose of the marketing plan 2
2. PESTLE analysis of Gymshark and Porter's five forces model 2
3. SWOT analysis of Gymshark 4
4. Three Clear marketing objectives that help Gymshark to improve its marketing share 5
5. Marketing strategy based on STP 6
6. The Marketing mix (7ps) of Gymshark 6
CONCLUSION 8
REFERENCES

9
EXECUTIVE SUMMARY
The Project report is being made to formulate effective market plan for Gymshark.
The Project report had explained the purpose of marketing plan which is to formulate a
marketing strategy to improve the growth and market share of Company. The reason behind
the formulation of this plan is that the firm currently has no plan to explore its wholesale and
to open its Mortar stores.
The project report had defined the business opportunity for Gymshark which is to
expand its business due to people are becoming more health conscious in UK. The project
had defined that the Company has a threat of existing competitive brands in the market.
The project report has evaluated by the Pestle Analysis is that the political,
economical and Technological factor is influencing positively to the business. By doing
marketing mix of Company the promotional strategy is evaluated that they promote their
products via social media platform.

INTRODUCTION
Marketing Plan refers to the comprehensive document and a blueprint that outlines the
marketing strategy of a business. It evaluates internal and external factors that affect the
business. The project report is based on Gymshark. It deals in the textile industry which is
specialized in the design and distributes apparel and accessories for bodybuilding and fitness.
Company is founded in the year 2012 by Benjamin Francis Lewis Morgan. Its headquarter is
situated in Solihull United kingdom. The Firm is featured in the Sunday Time International
Track 200 list as the fastest growing overseas sales Company and ranked 16th.
The project report will outline the purpose of the marketing plan and why it is
important for Gymshark. The project report will do PESTLE analysis of the Company. The
project report will do competitive analysis of Business Enterprise by using Porter's five forces
model. The project report will further do SWOT analysis.
Then the project report will set 3 marketing objective that will help Company in
growth and helps in improving its marketing share. The project report will develop marketing
strategy for Gymshark based on STP. Lastly, the project report will discuss the marketing
mix for the Company
MAIN BODY
1. Purpose of the marketing plan
The purpose of marketing plan is to develop the marketing strategy of the company.
The marketing plan is being made to increase the customer base. It defines the marketing
mix. The marketing plan is made to gain the market share by identifying the internal and
external environment of the business.
The marketing plan is important for the Company for the growth perspective and
helpful in increasing the market share of the Company. The Firm currently has no plans to
explore its wholesale or to open its own bricks and mortar stores (Ambat, Cabagnot and
Tiong, 2017). This Marketing plan will define the marketing strategy for expanding the
business of Gymshark. The Marketing plan will analysis the internal and external
environment and on the basis of that it will define the opportunities that Company can use to
expand its business.
2. Environment and competitor analysis

Environment and competitor analysis is a crucial part to define overall strategy of
business. To determine it Pestle framework is being used. Pestle analysis refers to a strategic
tool used to analyse the affect of macro environment factors upon business of Gymshark.
PESTLE ANALYSIS
Political factor – The political factors affect the Gymshark. The Company follows
certain political guidelines to assure that business is properly following government polices
and regulations. The UK business is influence by democratic conditions like human rights
and civil liberties. Due to Brexit, the company's rules and regulations have changed that has
created a sense of uncertainty at workplace.
Economical factor – The Economic factors impact the Gymshark business like GDP rate is
increased by 0.3% in UK. This will help in growth of Gymshark. Fixed investment is the
main economic factor that helps Company for drive its business (A PESTLE Analysis of
Nike, 2016). The Gymshark has favorable investment climate but the government is
challenged by the high deficit and debt burden which has forced them to restrict spending.
Social factor – The social factor is positively affected the Gymshark business as the people
are becoming more health conscious in United Kingdom they actively going to exercise for
keep themselves fit and in healthy condition. This factor impacts the Gymshark to increase its
sale for sportswear and gym-wear (Ojo, Mazzotta and Berry, 2018). The residents of UK
enjoy standard living, the healthcare system in UK is the most successful social ventures in
the world. This includes high presence of advanced healthcare infrastructure and private
sector involvement. This is helpful in increasing the sale of Gymshark apparel and
accessories for bodybuilding and fitness.
Technological factor – The advanced technology helps the Gymshark to increase its
customer base. The people are highly active on social media. Gymshark prefer social media
advertisement as there they can attract large number of people. According to a research there
is 38 million active users on social media platform. Among all social media platform
Facebook itself has 32 million users account in UK. The Gymshark use this opportunity to
increase the awareness of their brand among the people.
Legal factor – The legal system of UK is organized, transparent and efficient. The Gymshark
is influence by the health and safety laws and environmental laws. The Gymshark is bound to
follow ethical practices and legal laws into their business. According to the Employees wages
law the Gymshark determines standard wages for their employees comparable with local
standards.

Environmental factor – In UK customers are seems to spend more on environmental
friendly products. The Companies in UK is working to reduce the carbon footprint from their
business. These create an opportunity for the Gymshark to produce sports wear which are
environmental friendly in comparison to other forms of sport apparel. This will help to
increase the more potential customers.
Porter's Five forces Model
It refers to a business model that identifies five forces that impacts the firm's
sustainability. Porter's five forces analysis will shape the business strategy of Gymshark.
Threat of New Entrants – The New Entrants required amount of capital. They need to
concern about switching cost, advance technologies and economic of scale. This create
barrier for Gymshark as it requires high investment to make itself position in the existing
market. This is hard task for Gymshark to grab customer loyalty from the existing
competitors which are dealing in the same industry (Mathooko and Ogutu, 2015). Gymshark
has gone beyond the quality for make them differentiate from the existing brands.
Threat of substitute – The Competitors of Gymshark can offer other alternative products in
comparatively less price. The alternative products of sportswear could be yoga apparel. The
customer can shift there interest in Muay Thai or aerobic classes instead of going to gym.
Some people also purchase sport wear as a comfortable clothing. It can be replaced by the
nightwear's.
Bargaining power of Buyers – The bargaining power of customers is low as there is no
perfect competitive situation in Sport wear industry. There is less substitute product available
so the bargaining power is low for the Gymshark products. The switching cost of customers
are also high as there are already existing brands in Sportswear in comparison to that
Gymshark offers very minimal price products.
Bargaining power of suppliers – The suppliers bargaining power is high when there are few
sellers available in the market and there are large number of buyers. According to a research
Gymshark do outsourcing of its products. Most of the manufacturing is being done in china.
Bargaining power of suppliers is strong. The supplier influence the prices and quality of raw
material of Gymshark.
Rivalry among existing players – The Gymshark is facing high competitive rivalry.
Gymshark faces intense competition from the existing competitors. There is price war among
the competitors. The consumers are now in hope of the organization which reduce the price
of the Sport wear (Byrd-Bredbenner, Delaney and Quick, 2017). The Gymshark has reduced

the prices of their product to take a lead from the existing competitors. The Gymshark is
continuously doing innovation in their products to grab the competitive advantage.
3. SWOT analysis of Gymshark
Swot Analysis refers to Strategic planning tool that is helpful for evaluating
Gymshark Strengths & Weakness and will also helpful for identifying its threats and
opportunities.
Strengths –
• The Gymshark strength is that it done outsourcing of its product in China. The
Gymshark has high bargaining power in order to find supplier.
• The Gymshark has reasonable price of products which make them superior from the
other products. This is helpful in attracting customer's retention towards their product
(Phadermrod, Crowder and Wills, 2019).
• The Gymshark has a positive political influence as there is political stability in UK.
Weaknesses -
• The Gymshark is occurring high import cost as the manufacturing of their products is
done in the China.
• The Substitute of Gymshark is available in the market by the other brands like yoga
apparel.
• The Gymshark need high investment for Research and development department.
Opportunities –
• The Gymshark has an opportunity as the people are becoming more health conscious
in UK. They go for gym and do exercise on regular basis. This lead to increase in
sales of Gymshark products.
• The government in UK is also encouraging people to adopt the healthier lifestyle.
This will lead to increase the demand of sport wear products of Gymshark.
Threats -
• There is the threat of existing competitors that has high brand value as the Gymshark
is new to the market it doesn't have as much experience as the existing brand already
have.
• The Gymshark has no physical store whereas there competitors already have.
4. Three Clear marketing objectives that help Gymshark to improve its marketing share
On the basis of above SWOT analysis three Clear Marketing objectives are obtained.

• The Objective is to improve the market Share of Gymshark by 25% within the 1 year.
The Market share can be attain by doing promotional activities of the Gymshark
Products. The Gymshark can run the promotional campaign for encouraging people to
do regular exercise to keep themselves fit and healthy. This will create brand
awareness of Gymshark products in customer's mind.
• The objective is to explore Gymshark wholesale and to open its own bricks and
mortar stores & outlets in different geographical location of UK within 1.5 year
target. This will require a proper budgeting chart. The estimated cost that will be
occurring is $850 million. The marketing strategy is being followed in newly opened
stores. The Gymshark will initially give attractive discounting offers to their
customers in their stores to increase the sale.
• The objective is to make $80 million investment on Research and development
department of Gymshark to introduced innovative products in the market in order to
take competitive advantage. By bringing new and innovative product in the same
segment of sport wear will increase the sale of Gymshark products because there are
generally less variation available in sport wear to the customers.
5. Marketing strategy based on STP
The STP is the important concept and application of marketing. The word STP stands
for Segmentation, Targeting and positioning.
Segmentation – The Gymshark is using demographic segmentation of their products. The
demographic segmentation is being done on the basis of age group, Income, place,
occupation, Usage and lifestyles of the customers. On the basis of income the segmentation is
further done on three basis namely, high income group, mid income group and low income
group (Weinstein and Brotspies, 2018). The products of Gymshark is also categorized
according to the quality and differ in prices.
Targeting – The Gymshark is targeting from the age group of 16 to 30 years who revolves
around fitness and fashion. The targeting is being done for both Male and female. The
Gymshark is also targeting on the basis of Income bracket where the annual income of people
are starting from $15,000 to $50,000. The targeting is done on the basis of occupation like
white collar, junior executive and senior managerial position (Dib, 2018). The targeting is
also being done on the basis of Consumers values like who are more self esteem, adventures,
emphasis on work life balance and believes in fun and existing life.
Positioning – The positioning of products is being done by creating awareness among the
people by present sport wears of Gymshark not just as sport wear but also as a comfortable

workout apparel which allows customer for ultimate performance at front of the peoples. By
doing correct positioning in potential market the Gymshark can be able to attract more
consumers.
6. The Marketing mix (7ps) of Gymshark
Marketing mix
Marketing mix is the combination of factors that can be influence consumers to
purchase its products. It consist of 7Ps namely, Product, Price, Place, Promotion, People,
Process and Physical enviornment.
Product – The Gymshark deals in products like Gym apparel for the people who are gym
enthusiastic. The Gymshark also provide unique material in their apparel and accessories to
their customers that make them differentiate them from the other brands (Liu, Chen and
Balachander, 2017). The Gymshark has augmented delivery and return support as they bring
the latest design in their Sport wear for the customers.
Price – The price of Gymshark products based on the product quality. The price range differs
when product quality improvised. The price is also based on quality of cloth material or fiber
used in particular sport wear. If the material used in particular product is high in quality or
fabric then it will definitely of high price.
Place – The particular place doesn't exist for Gymshark product because they have virtual
existence. The Gymshark sale its products online. Gymshark is now planning to open its
stores and outlets at different geographical location all over the world because everyone
couldn't access to the internet (Melchiorre and Johnson, 2017). The physical evidence of
Gymshark products is also needed.
Promotion – The promotion of Gymshark products will be done by telecasting the
advertisement on television shows. The advertisement of Gymshark products is also being
done by publishing their adds in Newspapers and magazines. To create the brand awareness
the Gymshark can run the promotional campaigns (Ferreira, 2017). The Gymshark can also
do social media advertising on Facebook.
People – The peoples of Gymshark are the Employees, Managers, Owner and Stakeholders
of the Company. The people works as an asset for Gymshark because together people can
achieve the objectives of the Gymshark.
Process – The process that is being followed by Gymshark is online ordering and purchasing
of Gymshark products.
Physical environment – The physical environment that influence the Gymshark business is
Sport business, fitness industry and social media marketing.

CONCLUSION
The Conclusion is being drawn from the above project report of the marketing plan
for the Gymshark is that marketing plan is essential for drive a Business towards the success.
It is concluded that Marketing plan helps to formulate the business strategy for Gymshark.
The Marketing plan clearly defines the external and internal environment that influence the
Gymshark business.
It is been concluded from the above project report that Gymshark has an opportunity
to expand its business by opening stores at various geographical location as the people in UK
are more health conscious they do exercise and go for gym for regular basis.
This lead to increase the sale of Gymshark products in the market. It is also been
concluded that Gymshark has a threat from the existing brands in the market that deals in
same product segment of Sport wear.

REFERENCES
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Online
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