3 YEAR MARKETING STRATEGY MADDISON BRAY N0734470
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Word count-3909
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Contents
Introduction....................................................................................................6 Methodology...................................................................................................7
Market Overview and Situational Analysis
Brand history...................................................................................................10-11 Overview...................................................................................................12-13 SWOT...................................................................................................14-15 PESTLE...................................................................................................16-17 The Gymshark Consumer...................................................................................................18-19 Market Activities...................................................................................................20-21 Competitor Analysis...................................................................................................22-23 Threats- Ansoff...................................................................................................24-25 Trend Analysis...................................................................................................26-27
Marketing Strategy
Vision and Objectives..................................................................................................30-31 Opportunities...................................................................................................32-33 Year 1..................................................................................................34-35 Year 2 ...................................................................................................36-37 Year 3...................................................................................................38-39 The Physical Space...................................................................................................40-41
Communication Plan
Timeline...................................................................................................44-45 Mind over muscle...................................................................................................46-47 The Pop-Up...................................................................................................48-49 The Collaboration...................................................................................................50-51 Budgeting...................................................................................................52-53 Measure and Review...................................................................................................54-55 Conclusion...................................................................................................56-57
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Introduction Gymshark started up as a fitness apparel brand in 2012 when Ben Francis and his friends located a gap in the market for tight fitting, flattering active wear. Six years later, the brand now has more than 1.2 million customers, and 250 employees at its headquarters in Solihull, West Midlands, in its warehouse as well as in its new office Hong Kong office. (Sutherland, 2018)
point.
Gymshark has a long-term vision to become the largest active wear retailer in the world. However, there are current challenges that hinder the brand from meeting this including the inability to manage extreme growth. This issue has occurred both on the Black Friday sales where the website has crashed year on year due to an unexpected Gymsharks products are designed primarily for amount of traffic and also the popularity of popfitness use, however the brand now competes up stores. Pop ups have been overwhelmingly in other markets including loungewear and popular and fans have queued for hours for the accessories. There is a broad appeal to the chance to meet their idols and be able to shop the 16-25-year-old market, including gym-goers and product in a physical environment. Gymshark are non-gym-goers. The majority of sales are currently now looking at potentially opening a permanent generated on their website with a small minority physical store as a way to sustainably manage this from their various international pop-up stores. extreme growth. However, as traditional brick-andmortar retail spaces are in a decline and many once The brand is unique as its initial growth was fuelled popular names are disappearing off the high-street, through Body Power expos which raised awareness the Gymshark store needs to be an experiential of the brand within the fitness community. Online space that its consumers visit for the overall influencers were then sent products in the hope experience and to feel like a part of the lifestyle and that they would wear and promote them on their community, much like the pop-up stores. platforms. Shortly after this the brand recruited ‘Gymshark athletes’ who are ambassadors for The following report will discuss Gymshark’s the brand that promote the products on their current positioning as a brand, including a platforms and also attend Gymsharks events. As situational analysis. Possible actions for upcoming these influencers, all have a high social media years will also be discussed including a three following, customers then started purchasing year marketing strategy which will consider the products in order to feel a part of this desirable suitability of a permanent physical space, with a fitness community that Gymshark had built for one year in depth communication plan. itself and is still continuing to build. ’Family’ amongst ‘progression’ and ‘vision’ is a core value of Gymsharks and refers to the community they have built amongst their athletes, artists and customers, 6 which also stands as the brands unique selling
Methodology Research for this report was gathered via primary methods including surveys and interviews. Onehundred responses were collected via the survey and four interviews were taken, details of these can be found in the appendices. A qualitative approach was taken via the interviews, while the surveys include both qualitative and quantitative approaches. Surveys were produced in order to achieve a broader insight about the brand and provide rough viewpoints about possible plans of action for the marketing strategy. Interviews collected much more in-depth information about consumers personal experiences and attitudes and yielded much more honest pieces of killer insight. For secondary research methods, data was gathered via online sources including journal articles, reports such as Mintel and Euromonitor, web articles, videos and library books. Secondary data provided a broader span of information including consumer trends and buyer behaviour that would be difficult to gather via primary methods due to various constraints.
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MARKET SITUATIONAL 8
OVERVIEW & ANALYSIS 9
The company emptied its bank account to pay for a stand at the BodyPower Expo. This was a huge success and proved very popular. Matt Ogus, Jeff, Alon, Lex attended alongside. Website traffic more in 30 mins than whole Gymshark history after Expo. Womenswear was launched and Nikki Blacketter.
2013 2014
2012
Ben Francis identifed a gap in the market for a brand that sold tight fitting, fashionable gym clothing so decided to create one himself. He purchased a screen printer and a sewing machine to create stretchy gymwear. Influencer marketing starts.
Gymshark begins to create a community of sponsored athletes through influencer marketing. This is effective as new gym goers want to belong to a community, which Gymshark offers through its group of influencers. Once the consumer feels belonged they purchase the brands products. (Haemers)
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The Nikki Blackketter collaboration was launced at the first ever pop-up event in New York City on 25th March. Queues for the event were hours long and it was a huge success. Many other pop-ups followed including London, Birmingham LA, Toronto, Paris and Dublin.
As the company continues to grow at a rapid rate Gymshark takes on a new Chief Executive Officer- Steve Hewitt and the original CEO, Ben Francis switches roles to Chief Brand Officer.
2017
2015 2016
After crashing during Blackout 2015, Gymshark deployed a new e-commerce solution with a combination of Shopify Plus and PeopleVox WMS. It effortlessly supported the 30,000 orders processed on the dy of Blackout 2016 and the 10,000 per day leading up to the event.
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Francis 2017)
COMPANY OVERVIEW COMPANY OVERVIEW
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Mission
Vision
We exist to create the tools that help people unlock their full, incredible potential and put their ideas into action.
Family- We are a family of like-minded individuals working to bring our respective visions to life.
We want Gymshark to become a “way of life� and the largest gymwear e-retailer in the world.
Progression- Our products exist at the intersect of engineering and art. To remain at the forefront of both, we need to be fearlessly progressive and consistently future-conscious. We are not future-proof. We are the future.
Values
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Vision- In everything we do, be true to our own vision and respectful of others. We are here to bring ideas to life.
SWOT ANALYSIS
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STRENGTHS (core competencies)
WEAKNESSES
• Strong community element like no other brand. • Large and very loyal customer base of 16-25 year olds. • Product design is innovative and unique to competitors. • “Work hard stay humble” one of the most innovative HQs with a talented yet humble team. • High social following
• Male market feel uncatered for. • Some consumers feel that the brand is superficial and has no positive values. • Lack of diversity of athletes. • No personal brand touchpoints other than pop-ups which are not accessible to everyone.
OPPORTUNITIES
THREATS
• As healthy living is currently a large trend, Gymshark can take advantage of this through addressing the athleisure trend. • Targetting niche markets like the disabled and bringing them into the “Gymshark family”. • Many 25-40 year olds now engage in social media . • The experiential and Omnichannel retail markets are increasing rapidly.
• There are lots of substitute brand available on the market at lower costs.
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PESTLE ANALYSIS
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POLITICAL The UK government has launched many intitiatives to encourage people to have a more active lifestyle. As a reuslt, it is estimated that overall spending on fitness will increase from £9.2 bn in 2015 to £10.4 bn pounds in 2020. (Statista)
ECONOMIC Millenials (Gymshark’s consumer base) have lower disposable income than any other generation, however 1 in 5 millenials admit to impulse shopping every day, with an average online shop equalling £38.33. (Finder, 2018)
SOCIAL Under 30’s only contribute to 59% of Instagram users in the US, but Gymshark only target 16-25 year olds. (Clarke, 2018). Omni-channel shoppers account for 7% of all customers, with a 4x larger share of sales than online shoppers. (Marketing charts, 2018)
LEGAL Laws on the UK in regard to minimum wages and standards of working conditions are much more rigid than in less developed countries. Due to this, many brands outsource their production processes, which if they are not tranparent about, can result in a lack of trust among consumers.
TECHNOLOGICAL Between 2016 and 2017, time spent shopping on mobile increased 9% and bounce value decreased, however Gymshark does not currently have a mobile application. (Enge, 2018) In the US, apps accounted for 70% of mobile transactions. (Marketing charts, 2018) ENVIRONMENTAL Consumers trust a brand that is transparent about its supply chain (Euromonitor 2018). However, Gymshark is not public about its environmental activities including carbon footprint and production processes.
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THE GYMSHARK CONSUMER
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Social entertainment channels
“fit is not a destination its a way of life”
PURCHASE MOTIVATORS Word of Mouth Influencer Marketing
Sarah is a Business Management student from Leicester. She works part-time as a waitress and lives with 4 other girls in a rented flat. She regularly watches Meggan Grubb and Whitney Simmons Youtube videos for inspiration on fitness, fashion and health and attends the gym about 3 times a week. She tries to post fitness related content on Instagram every day and dream is to one day become a Gymshark athlete herself.
Sarah (20), Business Management Student
£300 a month disposable income 19
Video Reviews ATL Marketing
Other brands Sarah is passionate about:
MARKET ACTIVITIES
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“People don’t want to be “sold to”... instead, they want an incredible experience – something that motivates them to invest and buy”
Gymshark has become a key player in the athleisure and active wear market. As shown on the perceptual map, Gymshark is positioned as an above average quality active wear brand that is closer to being a lifestyle brand than simply focused on a core product.
(Harvey,2018))
There has been a general trend where top fashion/lifestyle brands have become more of a “way of life” than a product as retail has turned and become much more experiential. Gymsharks sponsored athletes, events and cohesive social media channels including Spotify, YouTube, Instagram and Pinterest show that the brand is already well on the way to becoming a way of life, just like the leaders in its market such as Nike and Lululemon.
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COMPETITOR ANALYSIS
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PRODUCT- A diverse product range including loungewear, footwear, accessories, high performance sportswear e.g. yoga, basketball, swim.
global leading gymwear brand, Gymshark needs to compete “To become the
with the likes of
BRANDS
MEGA
such as
and Lululemon”
Nike
PRICE- Leggings range from £20-£100. PLACE- 1,100+ stores worldwide as well as stockists including Office, Schuh, Sports Direct, JD Sports and thousands more. Nike has several experiential flagship stores including a newly opened NYC store which features a code on an in-store mannequin, buyers can shop the entire look and have items brought directly to a fitting room simply by scanning it on their mobile device. Nike.com PROMOTION- Global campaigns Sponsored athletes including Wayne Rooney, Cristiano Ronaldo and Tiger Woods. Competitive Advantage: One of the biggest brands worldwide with innovative designs in both its products and stores and excellent marketing campaigns. Some products can 23 also be customised, adding value to the brand.
PRODUCT- Known for having exceptional quality yoga clothing as well as offering swimwear and underwear. PRICE- Leggings range from £88-£118. PLACE- 404 stores worldwide including the new Regent Street store markets itself as a place for consumers to ‘stretch, sweat and connect’, showcasing a rounded lifestyle offering to extend the customer experience. Consumers can go the store with friends, grab a healthy drink, shop the latest products as well as work out. Lululemon.com PROMOTION- Uses local fitness instructors as ambassadors by giving them free gear or discounts. Very rarely has sales in order to maintain prestige of products. “This is Yoga” Global Campaign. Competitive Advantage: A very loyal customer base that are prepared to pay any price for the brand products due to the quality and brand image.
THREATS- ANSOFF
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The active wear market is saturated, however, Gymsharks core competency of creating a family through influencer marketing is difficult for another brand to imitate to their level.
Bargaining power of buyers In such a saturated market, the buyer has lots of choice between lower cost brands that often mimic Bargaining power of suppliers Gymsharks designs and styles. As Gymshark products are now in high demand, suppliers can offer them cheap- Buyers are often not loyal with their spending and may also make er prices as they are purchasing more. decisions based on discount codes Whereas, smaller brands with lower and delivery time. demand will have to pay higher rates. Although they have less buying power Threat of substitute products than Nike Athleisure is a very current fashion trend as consumers become more Competitive power health conscious and look for There are many cheaper alternatives to Gymshark, particularly Instagram brands versatility in their wardrobes. like Peaches Sportswear and Flexxfit, but Gymshark has very limited as they lack a brand story, they also lack product range in comparison to competitors like Nike, particularly authenticity. for males. Threat of new entrants New brands are constantly entering the active wear market, but the community Gymshark has managed to develop with its influencers and pop-ups means that it would be difficult for another brand to overthrow them on their current positioning.
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TREND ANALYSIS
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Macro Trends
“THE SHIFT IN FOCUS FROM POSSESSIONS TO EXPERIENCES IS CHANGING PURCHASING PATTERNS, AND DRIVING BUYERS TO CONNECT WITH THE PRODUCT CREATION PROCESS.”
“Sleuthy shoppers” Microtrend: “Behind the scenes” on social channels “Sleuthy shoppers” Customers are becoming increasingly sceptical of mass produced products, they now want to feel closer to the brand and comfortable with the end product. They may therefore investigate the whole history of the supply chain and production processes to check it sits with their ethical values before making a purchase. A lot of Gymsharks product to consumer process is available on Ben Francis’ YouTube channel, including views inside the warehouse and headquarters. However, there is little information available about the actual production process so doing a video about this would definitely be advantageous to the brand. “Try Before Buy” Microtrend: In store testing experiences The issue with e-commerce is that consumers do not get to touch and feel the quality of products before receiving them in the post, so may misinterpret the value of a product as they have not experienced the quality which could lead to them not making a purchase. The only solutions to this are offering a try before buy Klarna credit service 27 which gives customers the option to
pay for their items when they receive and are content with them. However, this solution is not cohesive as it is not accessible to everyone or else opening a physical store. Many sources indicate that brick-andmortar retail is declining, however, in 2018, 81.8% of UK sales were still made in-store (National Statistics, 2018). Competitors including Nike have gone above and beyond the trend by offering immersive in store experiences including the treadmill video game “Reactland” which is available in select stores. Players test the brands new Epic React line and are able to see their own avatars wearing the trainers and run across different game scenarios with back drops such as the Great Wall of China. Afterwards, they will receive a 10-second video of their run, which they can share on social media. (Mintel, 2018) “Healthy Living” Microtrend: Athleisure Athleisure is a very current fashion trend as society is becoming more health conscious due to government initiatives. The population now look for versatility in their wardrobes- clothing they can work, shop, lounge and also work out in due to having a fast-paced and busy lifestyle. (Williams, 2018)
MARKETING
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STRATEGY
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VISION AND OBJECTIVES
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SMART OBJECTIVES:
“
• To increase sales turnover by a further 20% by 2020.
Vision: We want Gymshark to become a “way of life” and the largest gymwear e-retailer in the world.
• To increase engagement on social media platforms including YouTube (views and subscribers), Instagram (likes and followers) and Spotify (playlist listens) by 40% by the end of 2020. • To reduce bounce value from 30% to 25% by 2021.
”
• To change the demographic from 20% male to 35% male by the end of 2020.
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OPPORTUNITIES-ANSOFF
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Existing Markets
Existing Products
New Products
Launch a mobile application to give Gymshark customers a personalised workout and meal plans with a paid subscription (around ÂŁ10 a month).
Develop sensor clothing to track progress.
Launch a physical store
Market products as sustainable to develop interests of ecofriendly shoppers.
New Markets
Release a new mens line and campaign so they feel more included within the brand.
ITV advertisement to raise further awareness. Launch a physical store to attract new consumers through footfall.
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Launch a line for disabled people e.g. those with prosthetics and take on new influencers with disabilities.
YEAR ONE
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Combined with the communication plan activities, including a social media campaign, PureGym collaboration and pop-up, the brand should also launch a mobile e-commerce application. In 2018, apps accounted for 70% of mobile transactions so by developing an app, the brand could help achieve an Omnichannel experience and considerably increase its sales (Marketing Charts, 2018). To encourage mobile users to download the application, it should also have other benefits such as personal meal plans and workout routines for each of the athletes which the customer can have access too through a small subscription fee. Allowing customers access to information like athlete meal plans and workouts really launches the brand as a lifestyle/way of life.
PROMOTE AND PENETRATE
In December, just before the store launch in January, Gymshark should launch a press release about the features of the store, this is a form of low-cost belowthe-line marketing which is often very effective at raising awareness about a particular subject.
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YEAR TWO
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The Gymshark flagship store will open in January, so this year it is key that the brand maintains a good reputation and widens its markets as much as possible to allow themselves to continue to expand. To become more inclusive, while also addressing a niche in the heavily saturated sportswear market, Gymshark could supply a line of clothing specifically for those with disabilities e.g. those with prosthetics. Gymshark should also sponsor the British powerlifting and parapowerlifting competitions to increase awareness that the brand caters for this niche.
EXPAND AND DIVERSIFY
Gymshark should take on a male and female disabled sponsored athlete so that consumers within this niche feel that they have someone they can relate to. A suitable potential female athlete would be Sophie Butler (@sophjbutler), she is a young wheelchair user in recovery from a spinal injury and regularly posts about health and fitness and currently has a large following of 16.5k.
@sophjbutler
@sophjbutler
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YEAR THREE
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The final year is about unlocking the full potential of the brand and catching up with revolutionary and technologically advanced brands like Nike. A key way to do this would be to release a line of specialist clothing including sports bras, tops and socks with an in-built sensor to track activity including steps, heart rate and calories burned. This information could be incorporated into the mobile application to give progress updates and allow the user to set personal goals, while the app can generate a workout routine based on this goal. This addresses the micro-trend “wearable technology”. To make this technology Omni-channel and introduce a loyalty scheme with a twist, Gymshark could launch a feature where the user can earn free snacks and drinks in the Gymshark store once they have exceeded their weekly goals. These rewards will be loaded onto the mobile app for the Refuel staff to scan through to process the free drinks.
PROGRESS AND ADVANCE
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To address sustainability as a trend, Gymshark should also partner with sustainability activist brand Fashion Revolution and produce a YouTube video about the behind the scenes production processes, highlighting that the materials are gathered by sustainable means and the staff are treated ethically. This can be posted by Fashion Revolution, which have up to 35,000 views on their videos and on Gymsharks and Ben Francis’ own YouTube channels. This will mean the people will trust the brand more as the entire supply chain process will be available to view and customers will feel more comfortable making a purchase.
THE PHYSICAL SPACE
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An ideal location for a permanent Gymshark store would be in the Birmingham Bullring, a location in central Birmingham with a large amount of foot traffic for easy accessibility, also allowing the store to be noticed by new markets that may not have been previously aware of the brand. Birmingham is the ideal city for the flagship as it is where the brands DNA lies, with population of 1.2 million, while also being much more cost-effective than a central London store.
“
In 5 years we’re a likely to be bankrupt as the biggest fitnesswear brand in the world (Francis, Ben (2018)
”
Ceiling interior exposed piping like head office.
Sign so the store can be recognised when walking parallel
Shop window to feature moving image of most recent campaigns
Shop window showing mannequins in yoga and gym poses
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The store would have a similar layout to the headquarters- striking angular furniture, exposed silver ceiling piping, grey, blue and white interior colour themes, text on the walls and lots of different areas for the Gymshark community (customers and influencers) to relax, socialise and shop. The store will also have a refuel bar, similar to the one in the headquarters, allowing customers to grab a healthy snack or protein shake on the go. Upstairs the store will feature a small gym with weights, treadmills, bikes and a studio for gym classes including Body Pump and Zumba. Classes will be given a few times a day with digital recordings by the Gymshark athletes on a cinema style screen, with the athletes occasionally coming in to personally teach the classes. Incorporating these elements into the store would
really help the brand on its way to becoming a “way of life” To provide its customers with a seamless omnichannel experience, Gymshark should have a tablet in each fitting room where the full product range can be viewed, as well as features and stock availability. It will also allow them to order products in different sizes immediately to the fitting room as well as via home delivery if the product is not in stock. One of Gymsharks key objectives is to increase their male markets. Observations indicate that men believe Gymshark caters for women with the vast amount of styles, new releases and campaigns, but leaves men out. Additionally, other insights implied that people saw the brand as too focused on physical appearance. To provide its customers with a seamless omnichannel experience, Gymshark should have a tablet in each fitting room where the full product range can be viewed, as well as features and stock availability. It will also allow them to order products in different sizes immediately to the fitting room as well as via home delivery if they are not in stock in store.
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COMMUNICATION
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PLAN
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Announce the Chicago Headspace pop up event
APR FEB
MAY
Mind over muscle TV campaign launches. Press release published the week after to start a buzz.
Tickets go live on Fatsoma
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Quotes on Puregym mirrors and walls for Movember.
Mind over Muscle Gymshark event
JUL
NOV SEP Puregym open day with two of the athletes (meet and greet and personal training)
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“�
1. MIND OVER MUSCLE
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One of Gymsharks key objectives is to increase their male markets. Observations including comments on social media posts indicate that men believe Gymshark caters for women with the vast amount of styles, new releases and campaigns, but leaves men out. Additionally, other insights implied that people saw the brand as too focused on physical appearance.
“I JUST DONT FEEL DRAWN TO THE BRAND...THERE AREN’T ANY STANDOUT POSITIVE VALUES”
In order to help to eradicate both of these consumer insights, a TV campaign should be released, aimed predominantly at males called “mind over matter”. The objective of this should be to abolish stereotypes that men speaking out about their mental health struggles is weak and not masculine, using such influencers at Chris Bumstead as the face of the campaign, who is seen as a role model by many male Gymshark supporters. This could provide males with the reassurance that it is not weak to be emotionally expressive. The campaign will consist of a video with a similar thread to Gymsharks “Music in World Out” YouTube videos and tell a story about living with intense stress from education, work and social media expectations through growing up. It could show Chris as a teenager and provoke an emotional story about depression and anxiety, then show him first going into the gym and gradually becoming happier and 47 an overall better version of himself, encouraging others to try it too. This
showcases how the working out is a good way to improve everyone’s current self, not just physically but also mentally- by helping to relieve stress and boost self-esteem, while also making a Gymshark athlete lifestyle seem more attainable to its consumers. The TV advertisement should be shown on ITV as this is the biggest digital channel for 16-34 year olds; the target market of Gymshark. Although this is a large expense, it will reach an audience and enable the expansion of markets therefore is a reasoned expense.
2. THE POP UP
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“WHEN IT GETS HARD, REMEMBER WHY YOU STARTED�
The pop-up element of the Mind over Muscle campaign will be called Headspace. The idea behind this is that it will be a space for the customer to feel welcomed, unjudged and at peace with like-minded individuals. The aim of this will be to make Gymshark fans feel like an even more tight-knit community among other fans and the athletes, while expanding into new markets that previously saw the brand as only fitness related. Headspace will take place in West Town Chicago, the venue features a lounge, theatre area and bar, making it the ideal setting for customers to socialise and relax. There is also space for up to 200 guests so this will help to avoid over-crowdedness and queuing and contribute to an overall more positive customer experience, although customers will need to book a ticket in advance in order to attend. The event will feature talks from some of the Gymshark athletes (male and female) about their mental health stories and how health and fitness has helped them to escape these issues. This is so that the customer can feel more connected to their favourite influencers and the brand, as well as inspired to overcome their own personal challenges. There can be around 5 different slots per day for the talks to be held and the pop-up should run for 3 days so that as many fans as possible are able to attend. In terms of visuals for the event, the pop up can feature digital snippets from the campaign video on screens as well as mental49health quotes in the same style as quotes on the headquarters on the walls.
Other store furniture can be re-used from previous events to eliminate unnecessary costs.
3. THE COLLABORATION
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“PureGym is the
UK’s leading gym chain and a pioneer of the low cost, high quality fitness experience. It operates over
230 gyms with more than one million members”
A valuable way in which the Gymshark lifestyle could be made more accessible to its consumers would be through collaboration with the UK’s leading gym. This could allow those who cannot necessarily afford to regularly purchase Gymsharks clothing or have the means of travel to visit a pop-up event feel like they can be part of the lifestyle. It also allows Gymshark to potentially broaden their markets to gym users who were not previously aware or engaged in the brand. The collaboration could be initiated through some of the top Gymshark athletes offering personal training sessions at PureGym Birmingham City Centre for a week. This gives fans the chance to meet their role models in an environment that sits well with what the brand is about. Linking to the Mind over Muscle campaign, Gymshark could supply PureGym with large wall stickers with positive mental health quotes (“When it gets hard remember why you started”) featuring the Gymshark logo, a hashtag (#mindovermuscle) and a unique QR code that will bring up the campaign video when scanned. This will encourage gym users to post selfies with the quotes, use the hashtag or even just watch the campaign video which will help to eradicate some of the present stereotypes of the brand in a low-cost way. This will be done 51 at the same time as in November Movember.
BUDGETING
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ITV Advert £140k
The total costs of the £300,000 budget taken for this one year marketing strategy is £261,000. This includes £106,000 in total for the Headspace pop-up (including 10% of the Headspace sales going to charity), £140,000 for the Mind Over Muscle advert (one minute) to be shown five times on ITV during a peak time and £15,000 for the PureGym collaboration. A full financial plan can be found in the appendices.
PUREGYM £15k
£255,000
HEADSPACE £100k 53
MEASURE AND REVIEW
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The success of the communication plan will be measured through its ability to meet the set objectives. For example, sales turnover for 2018 was estimates at ÂŁ100 million, while estimated turnover for the following is ÂŁ120.75 million, the objective to increase turnover by 20% by 2020 should be exceeded. The other objectives will be measured through engagement of social media including likes and follows on Instagram, views and subscribers on YouTube and playlist listens on Spotify. Bounce value and male to female consumer base will also be used to measure the success of meeting the objectives set and the outcome of the overall communication plan.
Key Measures
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CONCLUSION
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“People don’t want to be “sold to” ...instead, they want an incredible experience – something that motivates them to invest and buy” (Harvey, 2018). This quote summarises the current redefining of retail and how consumers are becoming increasingly picky about the brands they choose to purchase from as the market becomes more saturated. Therefore, showcasing the importance that Gymshark provides seamless and out-standing experiences within both its online and physical presences. Although Gymsharks pop-up stores currently provide great and exciting experiences to thousands of their consumers, issues like popularity which leads to up to 8 hour queues do not contribute to a positive customer experience. Launching a permanent store would allow more people to visit with more controlled popularity as the store would be open every day rather than just two or three days. It would also allow the expansion of markets through footfall and the ability for consumers to experience the Gymshark lifestyle- a valuable way of increasing customer loyalty and continuing to build the Gymshark “family”. To meet the mission to become the biggest gym wear brand in the world, it is essential that a physical and experiential store is launched as all fitness wear market leaders have exceptional and interactive in-store customer experiences. The brand also needs to work on improving microelements; particularly their menswear marketing and the transparency of their supply chain.
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Appendices Appendix A- Budgeting
Appendix B- Survey
Are you male or female?
What is your age bracket?
Is Gymshark a brand you would consider purchasing from?
Which brands do you purchase fitness clothing from?
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Which of the following media platforms do you use regularly?
L: A female 19-year-old second year marketing student at NTU.
M: A male 21-year-old second year criminology student at NTU.
Appendix C- Focus Group
What do you think about Gymshark’s price point for their quality? L: I really like the quality of Gymsharks clothes, its better than most other fitness brands I’be bought from besides Lululemon, but then Gymshark is a lot cheaper than Lululemon so I think its a good price for the level of quality. M: I have a few gym tops from there that I bought about a year ago, the quality seems pretty good but the prices are definitely a bit high. What do you currently think about Gymshark? M: I like their products but I don’t think there is many stand-out positive values that would make me want to purchase like Nike and Adidas have. Its a very feminine brand and an image of women posing in tight leggings comes to mind automatically when I think of it. L: I think its amazing how well curated theirs and their ambassadors social channels are and I think thats an excellent way to market their products, the pop-ups seem pretty cool too and I would definitely attend if there was one held around Nottingham. Do you think that mens mental health could be an issue Gymshark could tap into with a new campaign that could help raise awareness and boost authenticity for the brand? M: I follow Gymsharks Instagram which is quite shallow and much better messages could be promoted for a fitness brand. For them to promote, say for example, the positive benefits of working out for mental health would make me respect the brand and make me a lot more likely to buy into them. Would a permanent physical space for Gymshark e.g. a store (think Niketown) appeal to you? L: it’s a risky move most certainly as Gymsharks pop ups are what make the brand so exciting and I’ve heard that physical retail is gradually declining with brands like House of Fraser and Blockbuster disappearing off the streets. But, if Gymshark were to launch a flagship store with exciting features it would definitely receive a lot of press and I know me and my mates would have a visit. M: I think it would be pretty interesting to see how Gymshark would implement a store, I’d probably go in and have a look out of interest if in the 69 area becasuse if it was anything like Niketown then that would be sick.