Introduction - Business A Level
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As per the scenario of Jessica trying to expand her business in the market, primary research is one of the most effective ways which will provide her with all the necessary details that she would be requiring as a part of her expansion plan. Primary research of the market will enable her to have a proper knowledge on the social, cultural and economic framework of the artisans market. As the method of primary research focuses on identifying the customers and evaluating their needs and requirements, this will help Jessica to have a deep insight of the demands and requirements of the customers in the local market (Rahman, 2020). This will help her customise her cupcakes in accordance to the taste and requirements within the local market. The primary market research will help her analyse the data about the market and the various other products that are available within the market.
It will also help Jessica to have a proper understanding of the competition of her business and what they are capable to offer. Understanding the competition serves an individual to tailor to their business and enhance their products so that they get a competitive edge over the others in the market (Yahalom, 2020). With the help of primary research, Jessica will also be able to test whether her products and services are making a connection with the customers of the local market or not. Primary research enables the owner to have a deep understanding of the demands of the market and test out ideas that will be more suitable for the business.
Primary research will ensure the relevance of the business. With the change in the consumer behaviour and the trends that have affected the market, it is essential to learn about the market one is supposed to operate in. It helps the individual to have a proper understanding of the evolving needs of the consumer along with the reactions of the competitors which secures longevity and relevancy of the business within the market. This factor is also essential for Jessica to consider as it will benefit her in expanding her business in the local market. With the help of the primary research and the analysis of the data that has been collected by Jessica will enable her to have a greater control of the market segment (Yanich, 2020). This will help her in terms of choosing her location and deciding on the size of her project along with the time frame she would be choosing to complete her primary research of the market. Primary research will enable Jessica to have an understanding of the approximate funding that she would be requiring in order opening pop up stalls in the artisan markets. The information that is collected with the help of primary research does not need to be shared with others therefore, it can be helpful for Jessica to use the information as an advantage for her business expansion only (Norris et al., 2015).
The primary market research will also ensure to bring out the various opportunities and the communication that can be encouraged among the individuals, thus minimising the various risk factors and their occurrences that can impact the business expansion and leave a negative impact on her business (Abdelnaeim and El-Bassiouny, 2020). This will allow her to focus on the changing trends of the market and the audience segmentation as well. Primary research is one of the most effective methods to expand the business as it helps an individual to keep a track on the future trends of the market along with identification of the areas that can be expanded. This will also help Jessica to set and formulate realistic objectives and targets for the business and optimise the results in a better way.
Influence of Technological Advancements in the organisation of Marks and Spencer’s (M&S)
With the advancements in technology, evaluating the alternatives of every business has been easier. Technology has been one of the effective elements that have contributed in improving the operational aspects of Marks and Spencer’s. Technology within Marks and Spencer’s (M&S) have facilitated productivity and increased the efficiency of the employees. It has helped M&S to convince the employees to enrol for training and development programs which have upgraded their knowledge on the various operations and the product knowledge of the company. This has resulted in the contribution of the increased productivity and profitability of the organisation (Clohessy et al., 2019). With the advent of globalisation and the invention of technology M&S has been able to expand its business activities to all parts of the globe. It has enabled the company to understand the foreign market and the demands of the population in those countries so that it facilitates catering to the various needs of the customers globally. This factor has also increased the customer based and loyalty of the customer towards the brand. The leaders and the managers of M&S have been continuously using technology to foster innovation and creativity within the organisation so that the company gets a competitive edge over the other in the market. With the help of continuous innovation and refining of the existing products, the company has been able to attract the customers and retain them thus improving their revenue generation and position within the market (Goos et al., 2019). The leaders have been constantly researching the various developments and updates within the technological environments. This will not only enhance the activities and operations of M&S, the company will also be aware of the transformational phase that the business might encounter.
Technological advancements within M&S have enabled the organisation to store the personal data of their customers safely and in a secured manner. Advancements in technology have been introduced in all the functional departments of the organisation which ensures that storage of data is being done with the help of data servers and cloud technology. It has also introduced the digital marketing strategies of the company which have enabled the company to promote its services and products on online platforms thus attracting and expanding their target audiences (Santa et al., 2018). With the introduction of the mobile application of the company, the customers have been able to shop and make a purchase online of all the products and services they are in need of. This does not require the customers to be physically present in the marketplace while making a purchase thus maintaining safety and social distancing in the current market scenario during the pandemic times. The products and the services that are ordered by the customers are being delivered at their doorstep helping them to save their time and utilise it doing something else (Nagy et al., 2020).
Even the departments of research and development within M&S have changed their operational styles and have introduced the technologies and advanced techniques in order to develop the products and the services that can be done only with the help of technological advancements. M&S have strategically planned on investing a huge sum amount in the adaptation of the 3D technique printing only for designing the products. According to the company, this will help them accelerate their marketing strategies and improve the sale of their products (Jafari-Sadeghi et al., 2021). With the help of technology, M&S have been able to collect, record, retrieve and utilise the data they have collected in helping them build and formulate business strategies that have helped them to enhance their operational and promotional activities of the business. By analysing the changing and the current trends, the company has been able to monitor and evaluate the various changes in the trends of the customers and their rise in the demands of the products and services. With another introduction of the IT in the business, the company has been able to observe the behaviour of the consumer and their changes in order to conduct a macro analysis of the environment for facilitating marketing strategies that are best suited for the company (Chen et al., 2021).
The advancement of technology has not only enhanced the operational factors of M&S, it has also helped the company make informed decisions that have proven to be beneficial in increasing the effectiveness of the company and has contributed to the productivity and profitability of the company along with giving it a competitive edge over the other in the marketplace. It has helped the organisation to focus on the needs of the customers and formulate the strategies that will further enhance the business activities and help it grow. It has enhanced the experience of the customers as they can now scan their apps and make payments and hence can avoid standing in a huge queue. So, as a conclusion statement, M&S have been influenced by the advancement in the technology which has facilitated better connectivity for the customers as well as the organisation, have improved security and storage of the customer data, it has enabled the introduction of mobile payment and have facilitated cloud based storage for all the activities of the organisation. It can be stated that technological advancement has been one of the major factors that have influenced the operations of the company and have facilitated growth and productivity of M&S.
Assignment 3: Part 2
The success of Apple lies in its product segment which gives the company a competitive edge over the others in the market. The product is one of the most essential elements of the marketing mix. It can be said that without a product, there would be no hint of marketing. The brand seems to develop its products in such a manner that helps in satisfying the needs and the desires of its customers. Apple has been continuously working on its product philosophy which has helped the brand in anticipating the requirements and the wants of the customers in the future (Thabit and Raewf, 2018). The products of the brand are a bunch of potential utility as the customers of Apple mainly focus on the various benefits they would receive from the product than the physical characteristics of the product. The decision of the product is based on the programmes of marketing and all the various other activities that are based on the decision of the product. The decision of the product further influences several other factors such as the pricing, distribution, advertising of the products. The competitive advantage that Apple receives within a market is because of the products it manufactures (Othman et al., 2020). As it is said, that nothing takes place in an economy unless there is a product purchase or product sale within the economy. It can also be said that the product of Apple is the soul of all its marketing activities that takes place and provides it with a competitive advantage within the marketplace. The products of the brand are the basic tools that determine the profit of the organisation. Product of the brand forms the starting and initial point of the planning process (Thabit and Raewf, 2018).
Apple makes sure to carry advertising messages through all its products in order to convince all its customers why purchasing a product from the brand might be the best purchase decision made by the customers (Garg et al., 2016). Although product of the organisation is one of the most important elements that gives Apple a competitive edge in the market, it still requires a series of other elements that helps the products succeed in the market such as the price of the product, the place of distribution and promotional processes that helps the customers gain a knowledge of the various features of the product. The products manufactured by Apple have a lot of features such that the customers in today’s world desire. The products of Apple range from iPhone, iPad, iPod, Apple smart watch, MacBook and so on. Apple manufactures products that involve information technology (Jackson and Ahuja, 2016). It believes in serving the market segment with premium products which involves consumer electronics. The brand has expanded and evolved from using computer technology to information technology in order to satisfy the needs of the customer and improve their profitability in the market along with staying in the competitive market. With the help of all the features available in the products of Apple, the customers have been able to store their important data and access it whenever they are in need of it (Wu and Li, 2018).
The creation of the product is done based on the market research that has been conducted by the organisation. Most of the time, a new product or development of an old product is being done in order to meet the needs of the customers. Therefore, Product within the marketing mix forms to be one of the most essential elements as it believes in taking care of the various requirements of the customers (Isa et al., 2020). The products are often being customised based on the market segments. The premium quality products are being made for the customers who can afford it, whereas the affordable range of products are manufactured based on the affordability of the customers who are willing to purchase it. The quality and the design of all the products are maintained by Apple. Apple ensures a simplified design through its development process of the products which works towards meeting the needs of the customers. They pay great attention to details in the process of making the products. The tiniest details of the products of the brand are also important for the success of the brand. The products are very user-friendly and intuitive in nature which suits the needs of the customers. The brand also believes in creating design for the future. They create such a design that is difficult for their competitors to copy and thus they stand out in the competitive market (Wu and Li, 2018). As the customers today want products that are advanced, Apple provides them with the updated version of the products that are found in the market. All these factors discussed above have facilitated a competitive advantage of the brand in the market along with its maintaining its product differentiation.
Assignment 4: Part 1
In recent times, technology has played a very crucial role and has made a better facilitation of the production process. Technology is a very well-known tool which helps in increasing the efficiency of the employees along with the productivity of the organisation. It has played a huge role in the production process both in terms of refining an existing product along with manufacturing a new one. Technology within the production process helps in producing higher quantities of items, increasing the consistency of the products along with improving the cost effectiveness of the items that are being manufactured (Sickles and Zelenyuk, 2019). Technology has been used to capture and store the details of the customers which have enabled the production process to be time efficient. Technology has replaced the traditional way of communicating and doing business over calls. It has improved business communication, increased the connectivity between the staff, has enabled collaboration between the various teams involved in the production process, have contributed in enhancing the employment engagement and have further helped in analysing the performances and progresses of the employees towards attaining the goals of the company (Hollanders and Esser, 2017). Introduction of technological advancements within the production process has been beneficial in many factors. These factors have been discussed below.
Cost: Technology reduces the production cost of the various products of Mango and Zara. With the introduction of technology within the production process, the dangerous tasks that are being carried on within the manufacturing process are now being done with the help of the machineries which means the organisation no longer needs to pay the higher wages to its personnel which involves doing a risky job (Juhász et al., 2020). This helps in reducing the cost involved and contributes in improving the health of the employees involved in the manufacturing or production process.
Productivity: Technology has led to the increase in the productivity within an organisation contributing to automating the parts of the process of production. This gives both Zara and Mango options of either reducing the prices of their products to remain competitive within the market or to decide upon increasing the margins of their profit.
Quality: Technology has been able to improve the quality of the products produced by Zara and Mango. With the improvement in the quality of the products, the profitability of the companies along with the customer base increases (Walheer and He, 2020).
Flexibility: Both Zara and Mango have been able to balance their business activities with the flexibility of the employees. Although automation is best suitable only when the production is being done in huge amounts but not when the products are being customised to address the needs of the customers.
All these factors mentioned and discussed above conclude that the introduction of technology within the process of production of the large company producing shoes for high street retailers have helped the company in increasing its efficiency which resulted in better productivity and profitability (Franco et al., 2016). Also it is very essential to consider the value of money for the products that are being offered by the suppliers. The products should be of the best value for money which ensures that the quality is well maintained which will generate customer satisfaction and lead to product differentiation of the brands in the market.
Assignment 4: Part 2
Due to the rise in the competition across the globe, it is very essential for the buyers and the suppliers to change their ways and implement new strategies to deal with each other. In order to do so, implementation of strategic partnership is very essential to facilitate cooperative relations between them (Alikhani et al., 2019). The supplier selection means identifying and working with the suppliers that are best suited for the company. The price of the supplies leaves a direct impact on the production cost of a company such as Aldi and Lidl as a very well-known concept, the higher the cost of the raw materials, the higher is the cost of production of the products by the companies. Hence these companies such as Aldi and Lidl search for a cheaper supplier which helps them in increasing their profitability (Taherdoost and Brard, 2019). The increase in the profitability and revenue generation of the company leads to the brands in getting recognition within the competitive marketplace. As the companies can produce raw materials at a cheap price, the price of their finished goods will be lesser than the other brands in the market, leading to attracting more number of customers and increase in the volume of sales. This also helps the company in terms of revenue generation and forming a brand image (Zhou and Xu, 2018).
Another factor to keep in mind is that if the suppliers of the companies are located near them, there is a significant reduction in the transport and delivery cost of the raw materials. If the products are categorised as perishable then it is better to look for a supplier who is located near the companies so that they will be able to quickly deliver the products to the storage place of the companies (Lau et al., 2018). Although reducing the operational cost is one of the primary objectives of the businesses, customer service also plays another crucial factor that has contributed in improving the accuracy and visibility of the organisations. For companies like Aldi and Lidl, cost as well as customer service are the two major factors that are essential for them to operate in the low-cost supermarket industry (Alikhani et al., 2019). Most of the organisations look for better pricing as well as excellent customer services. As the entire market is encountering changes in the cost, the service providers and the suppliers should be looking for new ways to implement in order to remain established in the competitive market and provide the clients and the customers with products that satisfies their needs and enhances their experiences.
Assignment 5: Part 1
El Taco Ltd can opt for various successful sources of finances that are beneficial for the business expansion to its neighbour town. It can opt for taking business loans which will allow the restaurant to borrow a sum of money which the business can pay back over a period of time. Usually there are two major types of business loans, which includes secured business loans and unsecured business loans. In secured business loans the borrower needs to put up collateral such as a car or house against the loan value (Oláh et al., 2019). If they fail to repay, the asset that has been put up against the loan value becomes forfeit to the provider. In unsecured business loans the organisation does not need to put up anything as collateral as the loan is being given to the borrower based on their current situation. This loan can be beneficial to the restaurant as these are mostly seen as a financial source for medium and long term businesses. As there are many schemes available that a borrower can choose from and also repaying the loan amount will give tax benefits to the restaurant business for a reward of being able to successfully repay the loan amount (Ye and Kulathunga, 2019). This kind of business loan is one of the most secured and popular financial sources for the companies who are looking forward to expanding their business and business activities.
The restaurant can further opt for internal sources of finance which can be in the form of capital and retained profits of the restaurant. This is the amount that has been held back by the business for reinvesting it for additional usages apart from dividing it among the dividends (Abbasi et al., 2017). With the help of internal sources of finance, the restaurant can maintain full control of its activities and therefore does not have to opt for any loan repayment options. It will also help in improving the process of planning of the various new projects when internal finance sources are utilised. It will further help the restaurant reduce the overall cost of the different projects it has opted to invest in thus improving the value of the business and its activities. This process of funding also includes less amount of risk and ends up limiting the outside influences that the business might encounter (Centineo and Centineo, 2017). With the help of this funding source, the restaurant will have numerous sources for the amount that is required for the expansion plan in the neighbourhood town. It also is beneficial as a source of expansion as it does not involve any additional equity that is needed to be issued. El Taco Ltd can opt for any of the two sources of funding with the help of some research done on the market and its locals to have a proper understanding of the successfulness of its sources as funding (Dvorský et al., 2019).
Assignment 5: Part 2
With the changes in the behavioural habit of the consumers over the recent years has led to significant reduction in the profitability and revenue generation of Tesco. Initially people shopped in bulks for the week or monthly. This has changed over the time span where consumers believe and find it comfortable to shop in small quantities from a small retailer (Schmid et al., 2018). Both Aldi and Lidl have been a tough competition for Tesco due to many existing factors. These are being discussed below.
- The sustenance of their pricing is done at low cost. This does not only include the promotional pricing of their products and services, or main high-low pricing, but significant pricing which was maintained year after year
- They serve good quality products and services to the customers. They have a stock of well-known brand products. The quality of the food items and their reputation is excellent (Rote, 2019).
- The setup of the store is simple. The range of products available in Aldi and Lidl are slimmer than in Tesco. This is one of the factors that make the availability of the product easier and a lot cheaper. This also enhances the rotational buying and the stock turnover of the companies.
- The costs of all the products and services available are low. While Tesco does a good job of maintaining low cost, Aldi and Lidl do a little better than what Tesco does. The stores of Aldi and Lidl have very less staff making it easier for the customers to buy things around peacefully (Krazynski, 2020).
To fight the strategies of Aldi and Lidl, Tesco changed its marketing and promotional strategies. It shifted to high-low pricing promotions of its products and sold its products at low pricing which did not turn favourable for the brand. If Tesco followed the high-low pricing, the consumers made a choice of splitting their basket between Tesco and Aldi/Lidl. Whereas if it followed the everyday low pricing, the company significantly had to struggle to compel value propositions similar to Aldi/Lidl whose price-quality combination was chosen more by the customers over Tesco’s (Dolega and Lord, 2020).
Another major success for both the companies was the approach they implemented in promoting their products on a weekly basis. They formulated a promotional calendar which focused on themed weeks. For example at a particular week they promoted products and items of a certain theme during the “Eastern European Week” which was mostly based on the geographic attributes. This created excitement in the customers and hence generated a huge volume of sales without even resorting to deeper discounting offers (Caffrey et al., 2020). All these factors have significantly impacted the business of Tesco whereas have given the companies such as Aldi and Lidl competitive edge in the market. These helped the companies to gain more customers further improving the volume of their sales. All these factors helped in the growth and success of the company contributing to its profitability and productivity.
Assignment 6: Part 2
The government plays a very crucial role in balancing the custodians of the nation. The government can impose different policies such as labour policy, industrial relation policy, implementation of labour laws, the act of playing a role of the mediator and involving itself in the process of adjudication and conciliation. It tries to improve both the organisations of employees and employers (Nguyen et al., 2020). The government understands that both the employer and the employee want to profit from each other’s activities but are also in a way dependent on each other. This facilitates knowledge of equal bargaining of power of the workforce and the employers should be identified and evaluated. This helps in making both the parties of the NHS understand that it is essential to have equal degree of control on most of the activities within the facility. It is essential that there is an active participation of the employees in the decision making of the organisation of the NHS (Vosko et al., 2020). This supports and acts as a framework which leads to maintaining legislation that forms good relations between the employers and the employees.
Although the organisation of the NHS believes that the employees of the organisation are its main and prior assets. They have implemented strategies and regulations that have enhanced in meeting the various needs of the employees. Not only have their salaries been increased but they are also entitled to at least 27 days leave every year. They have also provided the employees with other benefits such as occupational health and counselling services so that the health needs of the employees are being taken care of by the organisation (Alam et al., 2020). Although an unequal pay between the managers and the employees have been noticed. Although the management is more involved in providing employee satisfaction to the employees of the NHS. It is very essential to maintain a healthy relation between the employee and the employer to facilitate a peaceful working environment along with increase in the productivity and profitability of the organisation. The government should ensure that there is a significant improvement in the employee relations of the NHS as those results in improving the effectiveness of the organisation. Employee satisfaction with the NHS organisation can be generated by providing them with the rewards and acknowledging their work when the employees perform better. This will help keep them motivated and help them increase their efficiency which will further contribute to the profitability and productivity of the organisation (Ahmad et al., 2020). Internal communication within the organisation can be further enhanced with the help of various approaches such as classical approaches, human relation approaches, system approaches and cultural approaches. This helps in identifying the conflicts that are encountered by the organisation and helps in providing suitable solutions to the organisational structure. Various management approaches have come to believe that employee satisfaction is one of the most essential factors that have contributed to the growth and expansion of the NHS (Findlay et al., 2017). The motivational theories believe that the employees of any organisation need motivational factors to keep the employees striving to achieve the functional goals and objectives of the company. These factors can come in the form of benefits, offers, reward systems, appraisal and acknowledgement of the employees. By raising the salaries of the employees or providing them with incentives also helps they keep motivated constantly. It is very crucial for the management and the government to realise that all these factors are significant in terms of bringing back the profitability and productivity of the environment. Through the process of training and development programs, the employees of the NHS can further improve their skill which contributes to the enhancement and effectiveness of the organisation. Employee training can boost up their confidence and operational factors which can in turn provide them with support and proper guidance to treat the patients and the clients well enough (Moslehpour et al., 2019). This enhances the operational aspect of the organisation. With employee training and development, innovation and creativity within the NHS is fostered which leads to the competitive edge of the organisation over the others. It is essential that there is an active participation of the employees in the decision making of the organisation of the NHS. This supports and acts as a framework which leads to maintaining legislation that forms good relations between the employers and the employees. Even though the government can work towards making an effort of implementing and formulating various approaches and legislations to improve the functional aspects of the company whereas the whole responsibility lies in the hands of the management who can make their work culture effective and enhance the skills of the employees to facilitate growth and profitability within the NHS (Farnham, 2017).
Assignment 7: Part 2
The Harcourt Hotel London should take up the gymnasium project as it will help attract the tourists and the hotel might have luck at enhancing their financial condition and revenue generation. As the idea of the gymnasium is that it will be available for the general public use and also for the workers of the hotel. The gym will help in boosting profitability and revenue generation of the hotel by improving member retention and decreasing the operational costs. There are many ways in which the hotel can implement strategies to increase the revenue of the Harcourt Hotel (de Abreu, 2021). The gym can offer membership price and commitment duration to the members who are willing to subscribe to it. By aiding the tourists with the activities that integrate a wellness lifestyle, the business is supposed to make more profit. It has been noticed that being more aware of mental health and spreading more activities that helps in reducing stress also attracts customers to the services provided by the hotel. In today’s generation people are becoming more attentive towards their lifestyle and their health, which enables them to extend their routines of promoting wellness into their lives regarding all aspects, including the time of their vacations (Center, 2021). Retreating culture within the hotel is one of the less expensive aspects that increases the operational factors of the hotel. Improving the areas which are fitness focused such as nutrition within the gym, relaxation provided to the customers will help promote the activities and word of mouth of the hotel which will retain customers and attract new ones from all across the globe. All these fall under the category of wellness tourism.
The Harcourt Hotel can also implement strategies of providing nutritional benefits to the customers such as food with lower carbohydrates, more fruits and vegetables including a balance of the vitamins content within the food items. It is very important to serve what has been promised to offer. Updating the staff with the dietary content of the tourists, the methods of cooking food in a healthy manner will help create a bond of trust and comfort between the tourists and the personnel of the hotel (EJIGA, 2017). Additional factors such as offering healthy snacks in place of chocolates and providing juice options in the mini-bars can increase customer satisfaction to a great extent. These factors could be added with the gymnasium project that will be taken up by the Harcourt Hotel.
As the staff and workers of the Harcourt Hotel are allowed to use the gym services, this can be another beneficial aspect. The staff and workers can maintain their fitness and can represent the hotel in order to spread awareness of the various benefits of being healthy and exercising to keep fit. When the tourists will see that the hotel has maintained the health of the staff as well as taken care of their fitness, they will feel more confident in availing the services of the hotel. More attraction of tourists increases the profitability of the hotel. Maintaining healthy staff and taking care of their fitness ensures that the hotel can increase its staff potential and fitness factor, thus increasing productivity within the hotel services (Bello and Sensini, 2020). Tourists availing the gym subscription of its offers can also be offered with remote classes as a part of their promotional strategy in order to showcase their commitment to their tourists. With the help of diversified trainers, the meets and requirements of the tourists can be met and there will be facilitation of cultural amalgamation within the environment. Being and involving oneself to be a part of the customers day will make them feel that the staff is working hard to make themselves involved and working hard to ensure that proper services and benefits are being received by the tourists. All these factors will help the tourists have a clear understanding that not only the hotel thinks about the wellness of the staff and their tourists, they also care about the health and fitness needs of the customers and hotel workers. It is very essential to promote a healthy lifestyle and wellbeing of the individuals in a world which is encountering numerous diseases and illness (de Abreu, 2021). Spreading awareness and promoting fitness services to the individuals will keep them healthy and meet the requirements of their health factors even on their days of vacation. This will help the organisation retain a lot of its customers which it has lost due to the competitive market and attract a lot of new customers due to the spread of word of mouth and promotional activities. Therefore, taking up the gymnasium project will ensure the increase of the tourist attraction facilitating more revenue generation and profitability of the organisation, giving it a competitive edge in the market.
To what extent is it possible for businesses such as Gymshark to overcome the problems caused by rapid growth? (24 marks)
Gymshark Ltd is one of the leading fitness apparel online retailer in the UK and fastest growing company considering the sales. The main motive is to offering innovative as well as effective performance wear with expanding social presence.
Ben Francis got idea of Gymshark in the year 2012 as he focused on health supplement and he started it with zero funding. He was mainly dropshopping products from the different retailer. However, over six years Gymshark becomes a global fitness apparel as well as manufacturer who sells to 131 countries (Juhlin, and Soini, 2018).
Figure 1: Gymshark Sales growth
In addition to this, BodyPower Expo, one of the famous fitness trade shows where he move forward the Gymshark so that they put their products online and things going good for them. It increase the traffic as well as more sales as compared to the past. The team of Ben started off scaling Gymshark as they sell and ship all of their products. As for the future, Ben and his team members plan to expand the overseas sales of Gymshark.
The traffic of Gymshark has increased over the time and they also perform certain campaign which helps to increase the web traffic with a cult like following with a major focus on exclusive products. It basically relies on the direct as well as search traffic which drives the services. There is huge breakdown of the traffic for Gymshark as they got it from social media. It has been identified that the YouTube is one of the main driver which put more than half of the traffic where they shared many motivational videos that are promote by the fitness celebrities. Further, the marketing strategies of Gymshark is considered as the redefined approach for launching the new brand and the main concentration is on the growth which has been created through the social media. In addition to this, the brand strategy helps to leverage the community power by some of the marketers that can be employed with a huge success. Some of the social influencers and Francis develop some partnership and bring into them for ambassador. The ambassadors have many followers on the social media channels which helps to bring many fans for the marketing of Gymshark.
At the time of research about the growth story of Gymshark, at initial stage the company wanted to work with YouTouber’s as they encourage them to increase the visibility. It is considered as the power to make the catch fire brand where the people love their products and they doing well on the e-commerce platform. Further, the Gymshark uses instagram for large following fitness accounts which helps them to ‘reach new people and sponsor different influencers. In return of this, Gymshark create certain posts regarding the brand and insert certain reference for the company in the bio of the people (Segova, 2020).
Gymshark started their collaboration with different social media platforms as it is one of the most powerful way to deal with the high level of population. They expanded their social media strategies by providing sponsorship to the fitness instagrammer, bloggers for engaging the products with the wide range of customers and setting up the meet. The main goal of Gymshark is to increase the brand awareness and develop a meaningful relation with their fans by inviting them to join the challenges of brand. By starting from e-commerce brand only, the company also found different ways to connect the online and offline worlds as they focus to enhance the sense of community for selling their products. The huge growth of Gymshark made through different events by creating pop-up stores which holds tickers events by selecting athletes. The strategy allow the company to continue their running community and run their vents on a big scale and add certain elements as a incentivize for paying the customers.
Brand community helps as a biggest social networks for building a social network for long lasting relation by Gymshark. The company has huge number of followers on Facebook, Pinterest, and Twitter and on Spotify also. They post from images to videos that looks highly professional as well as consistent on the platform. On Facebook, there are mny people who are hungry for their products where the people share the photos with fitness athletes for inspiring others. The team management of Gymshark highly responding towards the fan interactions in a quick manner as it increase their brand value as well as consider as a growth factor for the company (Sande, 2019).
In addition to this, Gymshark receive many shares, likes as well as social media reach on different platforms. By using the smart strategy, Gymshark brought the audience in a positive manner. It enhances their brand value as people share the brand with more people and it is considered as a snowball effect.
As Gymshark brought new collection for the launches and different athletes with unsponsored vlogs show their Gymshark hauls which they brought from the brand. There is some strong social proof for Gymshark and the people are not hesitate about giving constructive feedback for the brand. However, Gymshark also use Spotify to develop certain motivational playlist that pushes people to manage at the gym and complete their session.
The targets of Gymshark are always creates as their major focus on the audience of 18-25 year olds that also revolve around the fitness, music as well as fashion. They adopt the influencer marketing model by partnering with different platforms. The brand market products through the different platform enhances their activities which creates a value of brand. The strong marketing strategies helps to deal with the rapid growth in marketplace and they cop up by matching the activities in the social media platforms (Honkanen, 2019).
In addition to this, Gymshark use the social media channels for documenting their journey as the images and videos appear on a regular basis. It is a part of the rand journey so that the customers get the inside story of the services.
The Gymshark provide their customers two big sales on different occasion for enhancing the profit and sales. It is important for company to make sure the sales and awareness were increased during the significant retail occasion where they worked with Facebook creative shop to plan a most powerful campaign. It helps the company to deal with the changes in environment and provide varied things as per the needs of customers.
In addition to this, Gymshark took a proper benefit of feeling of missing out of the psychology phenomena by setting some countdown timer for a limited period of time offer. The blackout deals were also hyped on different influencers as well as social media platform for an appropriate storm (Haaksluoto, 2020).
However, there is a proper strategy to fill the gap between online and offline selling what the customers want as the central block give more values to the customers. The Gymshark central is mainly full of articles, tutorials as well as some recipes that gives valuable information to the customers regarding health fitness. It highly helpful for positioning as a go to source for the health and fitness. The company always looking into engaging face to face with their customers after attending certain trade shows which enhance their person in person experience. Furthermore, the company stop doing trade shows and initiate the work in pop-up stores where they bring their athletes to meet the fans.
The marketing approach is considered to be successful of Gymshark as the company witness a huge success in sales by making proper strategy with many influencers and combination of over 20 million people. They also develop their own social media channels that provide useful articles and videos for the fitness of people. Despite the Covid-19 outbreak the business has been rapidly growing with full strength and retailers saw certain decline in the sales and the company report for highest revenue in the year 2020. However, there is falling in UK employment and there is huge decline between April and June throughout the pandemic.
The influencer marketing is highly gaining the prominence and many consumers are depend on the recommendations of influencer and made purchases according to their suggestions. Gymshark has an important level of understanding of targeting the market by young gym people and athletes. The company also partnered with certain influencers for promoting the clothes on different social media platforms (Engeseth, 2019). It makes a strong relationship with the influencers who reverberate with its brand and develop some campaigns which are aligned with the influencers and their followers. The social media engagement on different platform helps to gain more users and create a proper value of the products. The events helps the fans as they are able to meet the athletes and there is cross questioning regarding the fitness and holds an inspiring experience.
Thus, it can be stated that there is a rapid growth of the company in the past years as there is huge transformation and idea of fitness which can transform a life of an individual. The athletes of Gymshark emphasize their own journey in the fitness with not only self-absorbance but due to the self-hatred and want to make improvement in the services.
The major success points including the proper collaboration among the influencers and build the products by growing the social media channels. They put the products directly in front of the customers by which they feel confident for purchasing the product’s online. The trust which is built by Gymshark increase the motivation of people to buy their fitness products helps to gain high range of customers. Thus, the inspiring culture makes it possible for Gymshark to develop different ideas and offers quality products.
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