The business in the mentioned scenario specialises in selling exercise-based equipment. The assignment aims to provide a clear overview of the marketing strategy. The project further analyses the marketing techniques for better rates of productivity and profit. The assignment additionally analyses the ethical and social constraints for better business prospects.
The marketing strategies focus on the wider perspective of attracting the attention of the customers. The marketing objectives are streamlined with specific goals within a stipulated time. The marketing channels with an estimated profit margin is highlighted for better understanding.
| Objective | Substantiation | Strategies | KPIs |
| Acquire 500 new customers by the end of 3 months with an average cost of 35 AUD with 6% profit | The forecast is based on the present sales, however, with incremental sales with an affiliate program and SEO development. | Use of affiliate marketing with SEO.
Existing social media mix based on pay per click and display advertising supported with the use of offline media |
Overall CPA for online sales incremental number per cent of sales related to affiliate marketing. A number of keywords ranked for a top position in organic search. |
| Migrate 40% of existing customers to use online-based services and e-mail based communication | Extrapolation of present organic migration with increased adoption of offline direct marketing | The direct marketing campaign using direct mails and phone to encourage the services. Use of incentive to encourage the change | Existing customers registering the use of online service at different points after registering |
| Increase the average order cost of online sales to 50 AUD per customer | Growth estimation is based on the present AOV suggesting a 25% increase | The use of the merchandising system to show users the list of gym-based services and additional products for various range of product categories | Per cent of site visitors responding to cross-selling based messages |
Table 1: Marketing objectives for EVO gym
(Source: Self-made)
The prime objective of the marketing objective is to enhance the online presence of the business and attract customers’ attention. The customers are present over online platforms, and tapping online advertisement sources is a good way of gathering revenue with organic and inorganic marketing strategies.
Properties |
Element |
Impact |
Segmentation |
Demographic |
18 to 50 years, including professionals, students and other employed individuals.Includes people with average and higher incomeThe target market includes people of all genders |
Geographical |
The target market is selected from major Australian citiesThe centres are located in central parts of the cities with a greater level of rush |
|
Psychological |
The business plans to target people suffering from issues of weightTargets people who want to remain fit |
|
Targeting |
Based on the segmentation, it can be rightly stated, the target market for the business will be individuals with higher disposable income between the age range of 18 to 50 years, residing in the major Australian cities. |
|
Positioning |
It has been analysed that EVO Gym is in the category of high quality and price. However, other businesses in the industry are placed at the same level, and thus, EVO gym needs to provide unique services to remain competitive in the market. |
|
(Source: As influenced by Black, 2020)
Vieira, de Almeida, Agnihotri & Arunachalam (2019) stress the importance of targeted marketing techniques to maintain position in the market and low preference for startup brands. Hence, it is important to understand the marketing strategy and target the right audience with effective promotional techniques and price offer.
Placement strategy: As Zhu and Gao (2019) stated, placing the product and service is the prime way of obtaining the attention of the customers. The term placement refers to the channel through which the product or service will reach the customers. Therefore, one of the prime marketing objectives is to expand the existing marketing channels and gather many customers in 3 months.
Channel 1: Sale through physical establishments
There needs to be a high level of customer service while networking with other industry members for the prime objective to grow the customer base.
The convenience for customers resides at mid-level. The business is open to a large number of audiences, allowing easy display of the products and services.
The wage for staff and display of the products demands extreme financial support. The increasing level of costs can outweigh the revenue obtained (Riyadi, Susilo, Sufa & Putranto, 2019)
Channel 2 – Sale through an online platform
Mid-level customer service is needed, a chatbot system can be installed to meet the needs of the customers
The convenience to reach the customers is high as all the information is available at the fingertips (Bakhtieva, 2017)
Cost-efficient; as it allows retailers to sell merchandise without experiencing additional expenditure
Channel 3-Sales in two retailers
The level of customer service is high as the retailers need to interact with the customers and business needs to maintain communication with retailers.
Customers can easily find the products that they need
The least cost effect as selling through retail outlets means that 100% of profit does not go to EVO Gym
Promotion strategy: Promotion is used to attract the attention of the customers (Khmiadashvili, 2019). Push and pull are two kinds of marketing strategies used by business organisations. The pull strategy is where the business directs the marketing activities towards the final consumers (Safanta et al., 2019). EVO Gym will incorporate an amalgamation of both pull and push strategies.
Push strategy:
EVO Gym will work with a small scale sales force with the sole objective to deal with front line aspects, to mark the growth between the company, media channels and consumers (Saura, Palos-Sánchez & Cerdá Suárez, 2017). The prime concentration of the sales force will be to enhance the sales channel to ensure customer acquisition while ensuring growth and engagement over social media platforms. The use of trade promotion is another way to push a strategy that can launch the product in the minds of the retailers and consumers. The intervention will establish the product in the minds of the customers and retailers. Furthermore, sales promotion will offer a significant portion of discount, approximately 12%, for the customers who share the business on their social media accounts to enhance the easy and early adoption of EVO Gym products and services (Ratnadianti, Fahmi & Hannan, 2020). The salesforce will coordinate the prospects of marketing and align with the trading events. Personal selling CRM based software will be used to collect relevant information gathered in order to gain relevant information for the sales force to target a large number of audiences (Pradeep, Vadakepat & Rajasenan, 2020). Contacts gained from the events will be targeted using this software. Public relations are a strong aspect in maintaining a strong bond with existing and potential customers. Relevant blog posts will be published by the sales force to differentiate EVO Gym products and services from the competitors. The salesforce will be contacting the media and news outlets to help and make the product famous. Social media influencers will be involved to promote the business (Garg et al., 2020).
Pull strategies:
Advertising awareness will be used by the business to promote awareness among the consumers about the related product and services through the following avenues:
Healthy food sources, promotional media and websites
Recreational centres, websites, billboards and other promotional material
Radio and television advertisements to reach out to the customers
The strategies related to digital marketing is rapidly increasing as the most important and vital in promoting business over the digital platform. Teodorov et al. (2020) stated that social media channels have successfully changed consumers’ perception and way of conducting business. Furthermore, digital marketing is important aspect in emerging business (García-Fernández et al., 2017). Thus, marketing is an important aspect of emerging business. The EVO Gym will primarily conduct online business through social media platforms such as Instagram, Facebook and Google search. In addition, the website will provide an additional discount of 10% for the first three months. Most importantly, PR relations will establish a strong presence through the use of blogs and ensure the use of online chat, though the website facilitates the relationship between consumers (Parvez et al., 2018).
The budget provides a clear understanding of the exact expenditure that must be made to target the right kind of customers, with better communicating channels. The figure below provides a clear understanding of the budget overview and the possible expenditure that can be made for better outcomes.
Figure 1: Marketing budget for promotion in EVO Gym
(Source: Created by author)
Figure 2: Monthly marketing budget for promotion in EVO Gym
(Source: Created by author)
.
The business must abide by certain ethical and legal responsibilities to emerge as a socially responsible business. As per Parvez et al., (2018) sustainable marketing underpins the importance of responsible and environmental marketing that meets the immediate and future needs of the business and consumers. EVO Gym has centred the marketing campaign around the prospect of sustainability, supporting ethical business operations supporting the implementation of the differential tool. EVO Gym has uniquely established the business operations around the pillars of sustainability and ethical decision making based on the pillar of a fair trade agreement. However, there remains a prospect of ethical and legal consideration in launching the product and services while dealing with the consumers, suppliers and competitors (Jones, Ratten & Hayduk, 2020). EVO Gym uses quality gym equipment imported worldwide. It is for the same reason they need to comply with relevant policies and regulations such as Australian consumer law.
The consumption and cultural values drive or hinder the adoption of products through the mediating mechanism related to ethical evaluation (Khmiadashvili, 2019). The prime ethical issues faced by EVO Gym are honesty, pricing, purchasing and fairness. EVO Gym faces issue and ensures that the business does not set unrealistic weight loss and fitness expectations. Australian people are aware of consumers and will support businesses like EVO Gym, which plan to ensure a fitness culture. However, the business needs to maintain a high level of client confidentiality. The sale of health based supplement in the Australian market is a multibillion-dollar industry per year. These products are led by spurious arrays of unfounded and false information. Unregulated by the Australian government, supplements are marketed to individuals looking for easy and quick options. The professionals in EVO Gym should refer the clients they need to augment their nutritional habits either to a registered dietician or professional (Alshammari, AlShowair & AlRuhaim, 2017).
To obtain a positive social image, EVO Gym can partner with professional dieticians or physiotherapists or support the services. Moreover, EVO Gym can partner with other gyms that can use their exercise equipment. EVO Gym has dramatically reduced the carbon footprint on an environmental basis, using energy saving machines for manufacturing products. Moreover, the machines manufactured by EVO Gym are not powered by electricity that significantly reduces electricity use. By being visibly aware of the ethical and social issues, EVO Gym can easily use the marketing strategies to mitigate the risks in future (Alshammari, AlShowair & AlRuhaim, 2017).
Based on the above assignment, it can be rightly concluded that EVO gym has an immense scope of growth. The market conditions are extremely favourable for growth. Furthermore, it should be duly noted that the business should abide by the legal and ethical framework to ensure better profitable outcomes in the long run.
Alshammari, S. A., AlShowair, M. A., & AlRuhaim, A. (2017). Use of hormones and nutritional supplements among gyms’ attendees in Riyadh. Journal of family & community medicine, 24(1), 6.
Bakhtieva, E. (2017). B2B digital marketing strategy: a framework for assessing digital touch points and increasing customer loyalty based on Austrian companies from heating, ventilation and air conditioning industry. Oeconomia Copernicana, 8(3), 463-478.
Black, C. (2020). Aligning a Digital Marketing Strategy with the Consumer Decision Journey: Applications for Small Business Start-Ups.
Swaid, S. A., Khanfar, N. M., & Loudon, D. (2019, July). Developing a competitive marketing strategy: The case of a complete fitness gym. In Competition Forum (Vol. 17, No. 2, pp. 258-266). American Society for Competitiveness.
García-Fernández, J., Elasri Ejjaberi, A., Pérez-Tur, F., Triadó i Ivern, X. M., Herrera Torres, L., & Aparicio Chueca, M. (2017). Social networks in fitness centres: the impact of fan engagement on annual turnover. Journal of Physical Education and Sport, 2017, vol. 17, num. 3 (164), p. 1068-1077.
Garg, P., Gupta, B., Dzever, S., Sivarajah, U., & Kumar, V. (2020). Examining the relationship between social media analytics practices and business performance in the Indian retail and IT industries: The mediation role of customer engagement. International journal of information management, 52, 102069.
Jones, P., Ratten, V., & Hayduk, T. (2020). Sport, fitness, and lifestyle entrepreneurship. International Entrepreneurship and Management Journal, 16(3), 783-793.
Khmiadashvili, L. (2019). Digital Marketing Strategy Based On Hotel Industry Study In Tbilisi. International E-Journal of Advances in Social Sciences, 5(14), 922-927.
Parvez, S. J., Moyeenudin, H. M., Arun, S., Anandan, R., & Janahan, S. K. (2018). Digital marketing in hotel industry. International Journal of Engineering & Technology, 7(2.21), 288-290.
Pradeep, S., Vadakepat, V., & Rajasenan, D. (2020). The effect of service quality on customer satisfaction in fitness firms. Management Science Letters, 10(9), 2011-2020.
Ratnadianti, A., Fahmi, I., & Hannan, S. (2020). Digital marketing strategy of small and medium enterprises for snack in Bogor city. Jurnal Manajemen & Agribisnis, 17(1), 74-74.
Riyadi, S., Susilo, D., Sufa, S. A., & Putranto, T. D. (2019). Digital marketing strategies to boost tourism economy: A case study of atlantis land Surabaya. Humanities & Social Sciences Reviews, 7(5), 468-473.
Safanta, A., Shihab, M. R., Budi, N. F. A., Hastiadi, F. F., & Budi, I. (2019, March). Digital Marketing Strategy for Laboratories Marketplace. In Journal of Physics: Conference Series (Vol. 1196, No. 1, p. 012078). IOP Publishing.
Saura, J. R., Palos-Sánchez, P., & Cerdá Suárez, L. M. (2017). Understanding the digital marketing environment with KPIs and web analytics. Future Internet, 9(4), 76.
Teodorov, A. V., Muresan, M. L., Dinu, D. M., & Dinu, A. C. (2020, July). Digital marketing on destination sustainability Study case: Romanian Ecotourism. In Proceedings of the International Conference on Business Excellence (Vol. 14, No. 1, pp. 859-867). Sciendo.
Vieira, V. A., de Almeida, M. I. S., Agnihotri, R., & Arunachalam, S. (2019). In pursuit of an effective B2B digital marketing strategy in an emerging market. Journal of the Academy of Marketing Science, 47(6), 1085-1108.
Zhu, G. and Gao, X., 2019. Precision retail marketing strategy based on digital marketing model. Science Journal of Business and Manag
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