This document provides a marketing audit and plan for Exofitness, a sportswear brand. It begins with an executive summary of the sportswear market and Exofitness brand. It then conducts a marketing audit including a Porter's 5 Forces analysis and Hofstede matrix to analyze the competitive environment and cultural influences. It defines the target customer profile for Exofitness and presents primary research findings. Finally, it outlines a 3-part marketing plan involving social media management, website redesign, and updating the brand's color palette. The goal is to help Exofitness reach a wider target market and increase sales through an improved marketing strategy.
Japanese apparel brand Uniqlo is seeking a creative agency partner in the U.S. The review comes as the brand looks to increase awareness and amplify marketing efforts in the States.
Uniqlo is a growing global fast-fashion brand, but it takes a different tack. Quality is a selling point, just as much as price (their website currently features shirts made from 100% premium French linen), and their target market is young men.
Under Armour is reviewing for a new media agency, according to people with knowledge of the matter.
Omnicom Media Group's Optimum Sports has been working on the business since 2011. Representatives from Optimum Sports and Under Armour were not immediately available for comment. Droga5 continues to serve as the brand's creative agency partner.
Last year, the agency captured the intense, rigorous and solitary training rituals of Olympic gold-medalist swimmer Michael Phelps in an Under Armour spot that took home the Grand Prix in the Film Craft Category at the 2016 Cannes Lions International Festival of Creativity.
Under Armour spent $20.6 million on measured media in the U.S. in 2015, according to Ad Age's Datacenter, and about $10.1 million on measured media in the U.S. from January to November of last year.
Japanese apparel brand Uniqlo is seeking a creative agency partner in the U.S. The review comes as the brand looks to increase awareness and amplify marketing efforts in the States.
Uniqlo is a growing global fast-fashion brand, but it takes a different tack. Quality is a selling point, just as much as price (their website currently features shirts made from 100% premium French linen), and their target market is young men.
Under Armour is reviewing for a new media agency, according to people with knowledge of the matter.
Omnicom Media Group's Optimum Sports has been working on the business since 2011. Representatives from Optimum Sports and Under Armour were not immediately available for comment. Droga5 continues to serve as the brand's creative agency partner.
Last year, the agency captured the intense, rigorous and solitary training rituals of Olympic gold-medalist swimmer Michael Phelps in an Under Armour spot that took home the Grand Prix in the Film Craft Category at the 2016 Cannes Lions International Festival of Creativity.
Under Armour spent $20.6 million on measured media in the U.S. in 2015, according to Ad Age's Datacenter, and about $10.1 million on measured media in the U.S. from January to November of last year.
Comparing Zara and UNIQLO Using Supply Chain Analysis DeshmukhMika Deshmukh
A research paper comparing the supply chain aspects and methods of Zara and UNIQLO in order to draw conclusions about the companies' respective and comparative competitiveness, as well as to provide recommendations to improve their competitiveness in the U.S. market within the next five years.
This Euromonitor market report provides market trend and market growth analysis of the Apparel industry in Germany. With this market report, you’ll be able to explore in detail the changing shape and potential of the industry. You will now be able to plan and build strategy on real industry data and projections.
Li Ning - Industry and competitor analysis with recommendationsYannick Pinkinelli
An industry and competitor analysis for Li Ning (a famous Chinese sports brand) during the module Consulting Methodology. Includes recommendations and moves in order to regain market share.
How to do Under Armour's SWOT Analysis? Strengths, Weaknesses, Opportunities ...SWOT & PESTLE.com
Check out our latest publication on Under Armour, Inc. which is an American sports equipment company that manufactures and produces footwear, sports and casual apparel.
Check out the SWOT and PESTLE analysis on Under Armour- https://www.swotandpestle.com/under-armour/
The analysis covers the business strategy of Under Armour.
We appreciate Siddhesh Suhas Salkar 's contribution towards this research report.
Follow us @swotandpestle to know more and visit our website - https://www.swotandpestle.com/
NEED HELP WITH YOUR RESEARCH?
Apart from SWOT and PESTLE analysis we also do Value chain analysis, Porter's five forces, BCG Analysis, Segment-Target and Positioning Analysis and other models and analyses to suit customised needs. Place your inquiry here
https://www.swotandpestle.com/solutions/
#UnderArmour #SWOTAnalysisUnderArmour #PESTLEAnalysisUnderArmour #MarketResearchUnderArmour #CustomisedResearchUnderArmour #StrategyUnderArmour #BusinessCasestudyUnderArmour #BusinessStrategyUnderArmour
#SWOTandPESTLEUnderArmour #SWOT #PESTLE #ConsultingUnderArmour
Lululemon is one of the leading brands in the performance fitnesswear industry. However, due to PR gaffe involving a recall of one of their product lines, their fast growth almost halted to a standstill in 2014.
This case presentation examines the scenario and suggests directions Lululemon can pursue in the wake of this event to restart its momentum and fend off the increasing competition in its industry.
Fashion Trends and Business Opportunities in South Korea - SummaryBusiness Finland
South Korea is currently very interesting market for Finnish companies. The market itself holds many business opportunities but also acts as a central entry point to other Asian markets. Export Finland’s South Korea market overview opens up the most interesting internationalization opportunities for Finnish companies.
Comparing Zara and UNIQLO Using Supply Chain Analysis DeshmukhMika Deshmukh
A research paper comparing the supply chain aspects and methods of Zara and UNIQLO in order to draw conclusions about the companies' respective and comparative competitiveness, as well as to provide recommendations to improve their competitiveness in the U.S. market within the next five years.
This Euromonitor market report provides market trend and market growth analysis of the Apparel industry in Germany. With this market report, you’ll be able to explore in detail the changing shape and potential of the industry. You will now be able to plan and build strategy on real industry data and projections.
Li Ning - Industry and competitor analysis with recommendationsYannick Pinkinelli
An industry and competitor analysis for Li Ning (a famous Chinese sports brand) during the module Consulting Methodology. Includes recommendations and moves in order to regain market share.
How to do Under Armour's SWOT Analysis? Strengths, Weaknesses, Opportunities ...SWOT & PESTLE.com
Check out our latest publication on Under Armour, Inc. which is an American sports equipment company that manufactures and produces footwear, sports and casual apparel.
Check out the SWOT and PESTLE analysis on Under Armour- https://www.swotandpestle.com/under-armour/
The analysis covers the business strategy of Under Armour.
We appreciate Siddhesh Suhas Salkar 's contribution towards this research report.
Follow us @swotandpestle to know more and visit our website - https://www.swotandpestle.com/
NEED HELP WITH YOUR RESEARCH?
Apart from SWOT and PESTLE analysis we also do Value chain analysis, Porter's five forces, BCG Analysis, Segment-Target and Positioning Analysis and other models and analyses to suit customised needs. Place your inquiry here
https://www.swotandpestle.com/solutions/
#UnderArmour #SWOTAnalysisUnderArmour #PESTLEAnalysisUnderArmour #MarketResearchUnderArmour #CustomisedResearchUnderArmour #StrategyUnderArmour #BusinessCasestudyUnderArmour #BusinessStrategyUnderArmour
#SWOTandPESTLEUnderArmour #SWOT #PESTLE #ConsultingUnderArmour
Lululemon is one of the leading brands in the performance fitnesswear industry. However, due to PR gaffe involving a recall of one of their product lines, their fast growth almost halted to a standstill in 2014.
This case presentation examines the scenario and suggests directions Lululemon can pursue in the wake of this event to restart its momentum and fend off the increasing competition in its industry.
Fashion Trends and Business Opportunities in South Korea - SummaryBusiness Finland
South Korea is currently very interesting market for Finnish companies. The market itself holds many business opportunities but also acts as a central entry point to other Asian markets. Export Finland’s South Korea market overview opens up the most interesting internationalization opportunities for Finnish companies.
Business analysis for Sports DirectIntroductionSports Dire.docxRAHUL126667
Business analysis for Sports Direct
Introduction
Sports Direct International plc, the largest sporting goods retailer in the UK market, showed a decline in 2016, while it showed a strong increase before that. The company revenue includes its sports retail (86% of total revenue with upping 3.9%, £2,491m) which includes cooperated brands and its own brands, brands which took 8% of total revenue with upping 2.3% to £231.5m, and premium lifestyle, a luxury brands retailer, that decrease 12.7% with £181.2m revenue (Sports Direct, 2017). And the development of the company in aboard market is majorly depended on acquisitions, as well as diversify its product portfolio by acquiring LA fitness (Sports Direct, 2016). The acquisitions aboard are market development and the acquisitions of LA fitness is product development. The analysis is trying to figure out the reason why Sports Direct decreased by analysing macro and micro environment as well as resources and capabilities of the company in the UK market. Although the company tend to be global, its major market is the UK. And the SWOT analysis is followed to draw a whole picture of the company with suggestions attached.
Macro Environment Analysis
Political
The result of the EU referendum makes lots of uncertainties surrounds the UK market. Although the long-term impact is unclear, some negative short-term influences happened.
IBISWORLD (2016b) reported that the Brexit will raise the competitive level of clothing retailing market in the short term. Firstly, the consumer confidence index of the British market is expected to fall, which could make the consumers’ demand for clothing shows a decline and the customers may more interest on low price (Trading Economics, 2016). Furthermore, the profit margins of the British clothing retailers may be shrunk, because the depreciation of the pound, which will affect the competitiveness in the market.
Economic
The Office for National Statistic (2016) reported that the gross real household disposable income recovered to pre-downturn in 2015, though the economic downturn has affected the performance of the market as well as has already sharped the consumer behaviours in the market. Due to the weak demands which are decreased by the downturn, the British retailers applied lots of heavy promotions to drive the sales growth, which increases the competitive level (Mintel, 2015). Hence, it is the main threat of SportsDirect in the UK market, because it gives lots of stress for SportsDirect to maintain its profit margin.
Social
The 55-64s, the major part of the British population, becomes more willing to buy clothing online, which could be an opportunity in the market (Office for National Statistics, 2015, Mintel, 2015).
In addition, the overweight population, others a major part of the population, has little interest to buy new clothing in the last year (Office for National Statistic, 2015, Mintel, 2015). It is a threat in the market, especially for SportsDirect, d ...
Product & Brand Management. Development of a new product for Manolo BlahnikSofia Fominova
Ever since the iconic appearance in the “Sex and the City” series, Manolo Blahnik is one of the most anticipated shoe designers in the world (Design Museum, 2016). Since 1971, Blahnik designs individual shoes, where each design has its own story (Blahnik, 2016). He is known as a very independent designer, not picking up every trend (Nelson, 2016).
This report proposes new ideas that would enable Manolo Blahnik to keep up with the fashion trends and stay competitive on the market.
Burberry group PLC is one of the leading manufacturers of high-end luxury goods. They specialize in selling outwear, accessories, fragrance, clothing for women, men and children. The iconic checkered or tartan pattern of Burberry is a distinctive style adopted by the company. Originally founded in 1856 and was bought by Great Universal stores PLC in 1955 (Phan, Thomas and Heine, 2011). Company has managed to sustain and thrive. In 2006, Angela Ahrendts took over the company from Rose Bravo. She brought in a number of innovative marketing strategies of the company. During Angela Ahrendts a “Multi Dimensional strategy” was adopted in order to make sales. According to a 2013 report net asset value of Burberry was estimated to be 4.34 Billion (Johansson, 2014). In 2014 Christopher Bailey Took over the company and has been presiding over the company as CEO (Ward, and Dahl, 2014). The thorough marketing and brand strategy made by Burberry is explained in detail in the following.
Running head CREATING CORE MARKETING STRATEGY 1 CREATING .docxtoddr4
Running head: CREATING CORE MARKETING STRATEGY 1
CREATING CORE MARKETING STRATEGY 10
Creating Core Marketing Strategy
Student’s name
Institution
Date
Marketing Strategy
Regardless of which location of the continent you conduct business, designing a marketing strategy remain one of the vital process you need to complete for your business. The process is very demanding and exciting as well. Therefore, designing product market strategy is also one more daunting process because it includes developing completely new product and launching it into the market (Margolis & Garrigan, 2008). Without a marketing strategy, the efforts to attract customers are likely to hit the rock, haphazard and inefficient. The aim of marketing strategy is to ensure your products and services meet the desires or the needs of clients, at the same time developing a long term engagement, and profitable and healthy relationships with those clients. To accomplish this, you need to develop a flexible strategy that withstand the changes in customer perceptions and demands. With this, it may assist your business identify the whole markets that you successfully place your target. The importance of marketing strategy is to help identify, and communicate the benefits of the business offering to your targeted market. Once the developed strategy is implemented, and well monitored, with its effectiveness ensure you make any adjustment needed to maintain your success.
Nonetheless, without an effective marketing and advertising strategy it will be hard to familiarize with customers. Your customers will not know anything concerning your company, products and services. A good marketing strategy starts with researching on the four basics P’s, of marketing that include, product, placement price and price (Steenkamp, 2017).
In light of the marketplace Simulation Game, the ideas mentioned above hold true because every week, our team is faced series of challenges through the processes. Our team was excited to launch two products. Our company launched into the market with a recreational Mountain bike in New York and intended to expand the market to Amsterdam. But considering the price to open the store we launched in Rio De Janeiro. The campaign report is important because we will utilize it to guide us through designing a core marketing and advertising strategy.
Further, it will help us portray how various elements within the market culture can impact the marketing campaign. Also, it will also show us how to incorporate both traditional and nontraditional marketing sources. Finally, it will guide us on how to calculate return on marketing investment (ROMI) and concepts on how to improve and learn from past mistakes in preceding quarters.
Creating a Core Marketing/Advertising Strategy
At the start of the second quarter, keeping the Mountain bike as primary bike was considered as a well executed plan. However, after the results we realized that our bike sold in.
Charron 2
Charron 7
Samantha Charron
Principles of Marketing
Northern Vermont University
March 6,2021
Marketing is the key part for the success of any business and it’s very crucial for a business owner to understand which customers to target and implement strategies that will ensure winning of new customers. Environmental analysis is a strategic analysis that assists a business owner to identify internal and external environmental factors that may impact a business's ability to conduct its tasks properly. The environmental analysis is mandated to assess the business external environment to find out threats and opportunities of the business and after the evaluation, the business owners develop strategies that respond to the environment.
Executive summary
In my residential area, there is no clothing shop for youths, and Value worth clothing is a business that will fit the area. I have seen a similar business in our nearby city and I have thought of investing in the business in our area as it will be a great opportunity for my business as there is no other business that offers or sells products similar to a value worth clothing business.
Environmental analysis
The value worth clothing (Murphy, 2019) was established as a retail clothing company has evolved into the marketer of high-quality clothing and it deals with sports clothing such as cotton T-shirts, baseball caps, fleece jackets, and vests. It also deals with selling sports footwear, apparel, equipment, accessories. The value worth clothing sells clothes for both women and men and also clothes for young children for sporting and casual wear. I have decided to establish this type of business in my residential area due to the increase in demand for sporting clothing that has been contributed by the construction of an international sporting center that attracts many people all over the country and international wise (Murphy, 2019).
Marketing environment
i. Competitive forces: competition within the sporting clothing industry is very strong and counterfeited attires have emerged in the market offering cheap priced products that make other original products have challenges as customers go for cheap rated products. As a business owner, (Murphy, 2019) one has to come up with his/her strategies to ensure products are appealing to the customers. Value worth clothing has been using a product differentiation strategy to market its products to its customers. We have ensured that our products are unique from those of our competitors. We have introduced climate control clothing such as t-shirts that make athletes feel like a second skin. We also have breathable fabrics that are very crucial during the summer seasons (Murphy, 2019).
ii. Economic forces: Nationwide, many business owners and companies can experience both positive and negative economic factors in the sporting clothing businesses. During the peak phases of the business, many businesses experience more disposable inco ...
Marks and Spencer 5 Year Business Plan/StrategyAminul Hoque
This report/project comprises of analysing Marks and Spencer in its current state and strategies as well as past achievements. The findings was then formulated into a report as recommendations which showed how strategically Marks and Spencer can improve. This also comprised of looking competitor analytic's and their campaigns for Marks and Spencer to be competitive. This report/project built on existing skills such as; business planning, marketing communications planning, product development and financial analysis.
1. Fashion Marketing and Branding – Marketing Report – Final Assignment
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Exofitness Marketing
Audit and Plan
Logan Stodart
University of Westminster
MA Fashion Business Management
Fashion Marketing and Branding
2015-2016
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TABLE OF CONTENTS:
1. EXECUTIVE SUMMARY 3
2. MARKETING AUDIT 5
2.1 PORTER’S 5 FORCES 6
2.2 HOFSTEDE MATRIX 8
2.3 EXOFITNESS CUSTOMER PROFILE 9
2.4 PRIMARY RESEARCH 11
3 MARKETING PLAN 13
3.1 SOCIAL MEDIA MANAGEMENT 14
3.1.A MARKETING MIX ADVANTAGES 16
3.2 WEBSITE REDESIGN TO MIRROR BRAND IDENTITY 16
3.2.A MARKETING MIX ADVANTAGES 17
3.3 COLOUR PALATE OF EXOFITNESS 17
3.3.A MARKETING MIX ADVANTAGES 18
4 CONCLUSIONS 19
5 APPENDIXES 21
5.1 COMPLETE SQUARESPACE.COM OFFERINGS 21
6 REFERENCES 22
Words – 4,570
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1. Executive Summary
The sportswear industry has grown due to the recent drive of consumers
to wear athletic clothing for leisurewear, also called athleisure (Mintel, 2016), as
well as sports activity (Mintel, 2015). Young consumers have begun purchasing
sportswear, with an interest in innovations as well (Mintel, 2015). This has
changed the way that sport brands compete for market share and market their
product due to the way that consumers have begun purchasing products
(Verdict, 2014). The current female consumer in the fitness industry in the
United Kingdom has been seen to be on average aged 16 – 50 years old (Mintel,
2016), and using social media activity with Instagram being the most popular
social media site currently (Rome, 2016). These consumers, if active, are
interested in cycling and going to the gym (Mintel, 2016), and are interested in
following fashion trend (Verdict, 2014).
Exofitness. London is a sportswear brand launched in the United
Kingdom in 2015. It is a set of compression wear with patented weights set into
the material to aid in the toning and training during sporting activities (Sinclair,
2016). The marketing activities for the brand are currently solely on social
media and are run by the owner of the brand, Shirley Sinclair. These activities
have aided the brand to a modest and dedicated customer base who share the
product through word-of-mouth as well (Sinclair, 2016). Despite these efforts,
the marketing of the brand can be extended to reach more of the target customer
base to develop a brand identity (Grose, 2011).
To improve the efforts of Exofitness the brand can employ a new
marketing strategy that will increase the brand reach. This strategy will have
three parts, those being the employment of a social media manager to improve
the social media of the brand, updating of the brand website to match to new
brand identity, and the updating of current color palate of the brands offering.
By updating and adding these features to the Exofitness offerings, the brand will
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gain traction in the consumer marketplace that is currently unattainable with
the current marketing plan.
The costs of the proposed strategy are 250 pounds sterling per month for
employing a social media manager, as well as the cost of updating the website
which if using a website provider can cost 18 US dollars per month for design
(Push, 2016; Squarespace.com, 2016). These proposed cost estimate are
available internationally and can be used for business e-commerce (Push, 2016;
Squarespace.com, 2016).
With the sportswear industry becoming more open to more consumers
(Mintel, 2015), the proposed strategy will allow Exofitness. London to target and
reach a wider market through their social media and website branding. This
will help them convert more site visits into sales and earn more profit through a
more effective marketing plan.
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2. Marketing Audit
The current sportswear market has begun growing in recent years due to
the increase in the popularity of peoples need, interest, and concern in personal
health. With this popularity, the increase of sportswear brands has risen as
well. Many clothing retailers have begun offering sportswear to supplement
their clothing offerings and tap into the popularity of the fitness industry. Due
to the increased competition from non-traditional retailers entering the industry
and the recent introduction of specialty retailers such as Lulu Lemon and
Sweaty Betty, Branded retailers have the need to work harder to retain
customer loyalty because of the increased customer options in the market space
(Verdict, 2016).
Specialty Retailers have changed the sportswear industry (Mintel, 2015)
because of their specialized offers and their unique positioning in the market
space. This is due to their marketing (Mintel, 2015). They have been able to
target a specific group of individual sport participants, who have become loyal to
their brand and the activities that they participate in. These brands have
become very popular in the recent years changing the dynamic of the industry,
making it difficult for new brands to break into the market (Verdict, 2014).
With the introduction of popular clothing brands sportswear lines,
convenience has also allowed consumers to change their sportswear loyalties to
other brands at much lower cost to the consumer (Mintel, 2015). Brands like
Topshop, H&M, and Urban Outfitters have begun to offer sportswear under their
own name (WGSN.com, 2016) to follow the increase in popularity of the fitness
trend as well as the current athleisure trend. This has changed how consumers
purchase sportswear because they now can purchase all of their clothing needs
during their one trip to the store (Mintel, 2015). This has made branded stores
need to market their products compete for market share even more difficult due
to the need for consumers to make a second trip into separate stores for
sportswear purchases (Verdict, 2016). Because of this need to compete for
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market share, the current marketing of sportswear brands has also increased
due to the increased competition (Mintel, 2015).
Athleisure, a popular new trend has also changed the way that consumers
are wearing sports apparel and purchasing sportswear (Mintel, 2015).
Athleisure can be defined as individuals using athletic clothing as leisure wear
in their daily life, instead of for sport (Mintel, 2015). This trend has become so
popular in the current fashion industry that many brands have begun offering
more casual sportswear and marketing towards this trend instead of towards the
active fitness trend currently (Armes, 2016). Over half of the the consumers in
the sportswear industry are purchasing for use everyday as athleisure (Mintel,
2015). It has become a fashionable trend, where clothing and footwear can be
used in daily life or in sporting participation (Armes, 2016).
2.1 Porter’s 5 Forces
The fitness industry has begun to grow over the last 10 years because
people have begun to care more about their personal well being and health
(Verdict, 2014). This has resulted in the increase in sports participation as well
as the purchasing of sportswear (Mintel, 2015). This has resulted in many new
brands offering specialty sportswear lines to be worn for use in specific sports
(Lululemon.com, 2016), as well as the opening of many branded sportswear
stores. These stores have become more popular all over the world, with the
opening of the largest Nike store in London (Porter, 2015). With these offering
the competition in the industry has increased as well.
Michael Porter (1979) developed the analysis of the industry allowing
retailers and consumers to see the different factors that affect the market place
and the players within them. The factors that affect each of these players will be
affected by many different factors including but not limited to: the power of
suppliers, the power of buyers, threat from substitute products, thread of entry
by new competitors, and power of complimentors (Porter, 1979). A sixth factor
was then added by after adaptation by Haberberg and Rieple (2006) in added the
factor firm’s rivalry. This factor explains the direct competitors of the industry
and the most powerful players within the industry (Haberberg and Rieple, 2006).
Below is a developed example of the 5 Forces Model developed by Michael Porter
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(1979) and adapted by Haberberg and Rieple (2008). It shows some of the factors
that currently affect the sportswear industry.
Figure 1:
The model about shows all of the factors in Michael Porters five forces
model from his 1979 paper, as well as the added factor of the current firms rivals
factor that was added by Haberberg and Rieple (2008). These factors can then be
applied to the sportswear industry to show the following:
1. Power of Suppliers – Medium: The ability to change suppliers is very
plausible due to the ability that brands have to switch between other
manufacturing facilities due to large number of manufacturing facilities
that can produce sportswear (Haberberg and Rieple, 2008)
2. Power of Buyers – High: Consumers in current marketplace have many
options due to the many brands of sportswear and places to purchase
sportswear, because of this the switching cost are low (Haberberg and
Rieple, 2008; Mintel, 2016)
3. Threat from Substitute Products – High: Consumers have the ability to
spend their disposable income on their any product that they wish too, not
just fashion items or sportswear
4. Threat of Entry by New Competitors – Low/Medium: It has become very
easy for new brands to enter the fashion market, but to compete at the
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high level of the major levels of the current fashion industry it has become
very difficult for new brands to compete (Verdict, 2014; Porter, 1979)
5. Power of Complementors – Medium: The counterfeit industry is very large
in the fashion industry, so large brands need to be wary of this due to the
possibility of trends being counterfeited
6. Firm Rivalry’s – High: In the sportswear industry the most popular place
to purchase clothing is currently Sports Direct, while brands Lululemon
and Sweaty Betty have recently changed the the industry because of the
unique offerings directed towards specified sporting acts (Mintel, 2015)
These forces affect the sportswear industry and the fashion industry as a whole
to influence brands to change their strategy (Porter, 1979). With the influences
of these forces brands can see how to best target their industry (Haberberg and
Rieple, 2008). This will allow them to be able to identify their target market
within the general industry.
2.2 Hofstede Matrix
With the increasing competitiveness of the fashion industry and the
increasing level of stores and brands offering sportswear, new brands need to
offer unique advantages to their consumers to keep them committed to their
brands (Posner, 2015). With this consumer’s ability to switch brands and high
level of choice also comes other choices, not just in the sportswear market but
also in the general fashion market as well.
The Hofstede Cultural Dimensions Model shows how individuals within a
culture are going to make decisions and how they view major cultural views
(1983). This cultural dimension model also can show how people make decisions
and how people are influenced by trends in society (1983). This model has six
dimensions and those are the following: individualistic vs. collectivistic,
masculine vs. feminine, uncertainty avoidance, power distance, time perspective,
and indulgence vs. restraint (1983). Below is a figure showing how consumer
views are currently influenced by these cultural dimensions.
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Figure 2:
DIMENSION DESCRIPTION OF INFLUENCE
INDIVDUALISTIC/
COLLECTIVISTIC
People in the current society are more likely to influence by
their current needs and goals than by the goals of the
group/society
MASCULINE/
FEMININE
Society is moving towards a very gender neutral state,
where gender is not being looked at in ever day life
UNCERTAINTY
AVOIDANCE
People prefer to know what is going on in their lives day to
day but most individuals do not know what the future hold
5-10 years from now
POWER
DISTANCE
In the current market place the power distance is very
high, consumers like to be able to have an influence in
their daily lives (in the market or government)
TIME
PERSPECTIVE
Consumers have begun planning 2-3 years in advance but
future planning does not reach the 5-10 mark as it has
done in the past
INDULGENCE/
RESTRAINT
Consumer purchasing has gone up since the recession in
2008 and purchasing power of customers is higher in
recent years as well
[Mintel, 2015; Verdict, 2014]
This figure shows how the consumers in the current industry react to the
market place and to the environment around them. These factors can help us
see a general population overview about the consumer marketplace. Consumers
currently are moving towards a gender neutral population where gender no
longer maters so marketing towards this trend could be beneficial.
2.3 Exofitness Customer Profile
Shirley Sinclair identified the current customer profile for Exofitness.
London to be a woman in her 50 – 60’s that is just starting to become active
again (2016). This woman is going to be exercising by simply walking in her
local park and is very busy and does not have time to do anything else (Sinclair,
2016). This customer profile, after looking into the current fitness industry has
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been identified as the incorrect target market for the current market for the
Exofitness branding. If the brand wishes to maximize their brand identify and
maximize their brand marketing they should change their target customer
profile to fit the current market to maximize sales and profit.
The Exofitness customer profile can be developed from information
gathered about the current marketplace. The chart below describes some of the
interests of the Exofitness consumer.
Figure 3:
The Exofitness customer is female, currently living in the United Kingdom
and is aged 16-50. These customers are interested in following fashion trends as
well as cycling and running, and sustainability in the fashion industry (Verdict,
2014). The most popular social media sight that is used by consumers in the
fashion industry currently is Instagram (Rome, 2016) and the most popular
magazine read by women interested in sporting activities is Women’s Health
(Subscriptions, 2016). One of the most popular concerns for these consumers is
the factor of comfort in their purchases of sportswear, this is what has lead to
the popularity of the athleisure trend in recent years (Mintel, 2015).
By identifying these target consumers Exofitness has the ability to market
their product to the correct demographic for purchasing. This will allow them to
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be the most successful in their endeavors to become a successful business entity
(Grose, 2011).
2.4 Primary Research
Current branded sportswear locations in have become more popular with
the rise in trend of sporting activity. These locations as well as non-branded
sport retailers are where consumers purchase their sportswear, instead of
purchasing online (Mintel, 2015). Sports Direct, the non-branded sports store is
the most popular location for consumers to purchase their sportswear from in
2014, followed by Amazon.com (Mintel, 2015).
However, when Shirley Sinclair (2016), the owner of Exofitness London
(now refereed to as Exofitness), introduced her brand and product she stated
that non-branded sportswear locations were locations where “she could not see
her product” (Sinclair, 2016). Due to this, an observation was conducted of the
types of consumer that were currently shopping in non-branded sporting
locations versus branded sports locations as well as concessions where Shirley
believed that she was better suited (2016).
While observing the customers in Sports Direct on Oxford Street, the
following was observed:
Figure 4:
All of the consumers in the store where counted and out of the whole 63%
where women. This was an observation that was higher than initially expected.
It was then that the concession of Sweaty Betty in Selfridges was observed. This
location was mentioned by Shelly (2016) as a location where Exofitness might fit
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in as a placement of sale. During the one hour of time that was spent at this
location 9 women visited the concession and two made purchases. When
interviewing the employee managing the concession at this time she said that
this was a normal rate of consumer traffic due to the location (Anonymous,
2016).
This showed that concessions in large department stores, such as the
Sweaty Betty concession in Selfridges could be profitable for a brand like
Exofitness and will attract consumers on a regular basis. It also shows that
women frequent non-branded sport retailers, which make it a possible option for
Exofitness as well.
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3 Marketing Plan
Exofitness has only been marketing and selling their product in the
sportswear market place for one year (Sinclair, 2016). Shirley Sinclair has been
using social media, trade shows, and word of mouth to distribute and promote
her product (Sinclair, 2016). This has allowed her to grow a small following of
dedicated users to her products that believe in Exofitness.
However, the development of the Exofitness brand has been very low and
has not gained much traction in the last year. The growth of Exofitness’s social
media presence has been small to none compared to other sportswear suppliers
in the United Kingdom. With social media being the main source of information,
and connection to consumers that Sinclair provides to consumers the progression
is vital to the success of the brand. The following figure shows the Instagram
feed and statistics for Exofitness and the major competitors in the UK market:
Figure 5:
This figure shows that Exofitness has not reached the popularity or reach of the
current market leaders in the sportswear industry. To do this Exofitness would
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need to reach a new market by targeting their brand identity social media
towards their target customer more actively. They can do this through the
following three elements that will aid their marketing strategy growth, that
according to Sinclair is non-existent currently (Sinclair, 2016).
The marketing budget at Exofitness currently is 0 pounds sterling and is
done completely in house by the owner, Shirley Sinclair (Sinclair,2016). Sinclair
invests only maybe an hour per day, if that, she said into social media, to help
progress and capture new customers (Sinclair, 2016). The use of hashtags is the
way to connect with users on many social media platforms. The hashtags that
are in use on the Exofitness Instagram pages commonly are #itsawalkinthepark,
#exoftinesslondon, #activewear, #compressiontights, and #walkingthedog. These
tags are not commonly used by social media users so the posts by Exofitness are
not commonly found by users who are not actively following the page.
By adapting the Exofitness marketing strategy to be more brand and
customer focused, it will allow the brand to target a new audience that is
currently not being reached by the used strategy. This strategy will use three a
part plan to target these consumers, those steps will be to access social media
management, website redesign, and to update the color range of current product
line. This strategy will enable new consumers to reach and understand the
brand identity delivered by the social media and new website. The strategy and
three plan steps will be discussed in more depth below.
3.1 Social Media Management
The popularity of social media in recent years has made the need for
brands to turn to popular social media sites to target their consumers. This has
lead to the employment of social media management. These individuals are
tasked with assisting brands with the following tasks:
• Branding – Management will help companies develop a brand identity to
promote online on social media
• Digital PR & Social Media Campaigns – Developing campaigns that
promote the previous developed brand identity, and will reach new
customers
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• Creative Direction – Branding developed in partnership with the brand
team to promote brand reach and brand identity
• Launching Campaigns – Management team will identify the correct
post/campaigns to launch and during what times they will be effective
• Content Creations – In partnership with the brand the management team
will create content that will promote the brands identity and reach the
audience in the fastest way possible
• VIP & Celebrity Endorsement – If accessible to the brand and suitable for
the brand management has the ability to work will celebrity and VIP’s for
brand endorsements
• Fashion Week Representation – During fashion week, management can
represent brands during events and online
• Blogger Engagement – Management team, if the brand wishes, has the
ability to engage with bloggers to promote brand awareness
• Press Days – If necessary for public engagement management teams can
arrange for press days for the brand to engage with press
o Push, 2016; Ltd, 2016; Social Media Management, 2016
An effective social media management team will contribute to the development
of brand identity and brand reach by working with the brand and developing
social media campaigns that relate to the decided upon brand image. This is
needed for Exofitness due to the lack of consistent branding and campaign
development. By employing a social media manager Exofitness will gain a
knowledgeable employee that will aid the brand in reaching their target market
through social media. Companies like Pure London, London Fashion Agency,
and YogurtTop Marketing, offer fashion specific media managers who specialize
in retail based brand social medias and will help will the above services (Push,
2016; London Fashion Agency, 2016). These services retail for upwards of 250
pounds sterling per month, and if brands wish to add specified ‘extras’ the price
can reach upwards of 1500 pounds sterling (Pure, 2016; London Fashion Agency,
2016).
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3.1.a Marketing Mix Advantages
The advantages to adding a social media manager to the Exofitness team
are that the personnel would be trained in the position that they would be doing.
They would also be connecting with the customer directly through the social
media, allowing for feed back from the consumer on the brand identity and
current campaigns (Rome, 2016). The following chart shows the marketing mix
variables/advantages, the competitive advantages, and the value that adding a
social media manager would add to the consumer:
Figure 6:
The employment of a social media manager will give Exofitness the competitive
advantage of a convenience, cost effectiveness, a creative outlet to reach
consumers, speed at which to reach those consumers, as well as control over the
brand identity. These advantages will add value to the brands current
consumers as well as attracting new target consumers by allowing easy access to
the brand through the use of popular social media (Rome, 2016).
3.2 Website Redesign to Mirror Brand Identity
One of the first places that consumers sees the identity of a brand is on
the brands website, because of that fact it must match what it the customer
believes that the brand/owner is trying to portray and believes. Currently the
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Exofitness website is difficult to overly simplified, lacking in information about
the products, and does not portray the image that is delivered on the current
social media sites.
By updating the current website, customers will be able to see the brand
identity that is delivered on social media, giving a consistent brand identity, as
well as understanding the product in more depth. This will lead to more sales
conversions for the brand, due to understanding. Updating the website can be
done through many online website development assistants such as Square Space
(Squarespace.com, 2016). This online website developer allows business to
develop their users to a custom website, with custom domain names, from a
selection of templates or completely from scratch (Squarespace.com, 2016). This
is all offered to users at a price of $18 per month billed annually (see appendix
1).
3.2.a Marketing Mix Advantages
Through updating their website Exofitness can offer their current
customer and their future target customer a better understanding of the brand
identity. This would allow customer to relate to the brand. This will occur
through the cost effective redesign of the website. The redesign will add value to
the consumer by allowing them to have access to the product by understanding
the product and the value of the product through the simpler and descriptive
explanation of the product. This will make purchasing of the product more
likely, as customer like to understand what they are purchasing before they
complete the purchase (Posner, 2016; Sinclair, 2016).
The competitive advantage of the website redesign is that the company
will have creative control over the look and identity of their image so that it will
be able to match their social media distributed identity. This will allow for a
unified image that will be presented to the consumer so that their will be no
confusion on who the company is and stands for (Posner, 2015).
3.3 Colour Palate of Exofitness
The current color offerings of the Exofitness range are very limited. They
currently have black, red, muted green, grey, and dark blue. These colors, save
the black, are not the standard offerings of sportswear offered and purchased by
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consumers (Verdict, 2014). More popular colors that are purchased in
sportswear are bright colors and neon colors (Verdict, 2014).
When consumers purchase sportswear they are looking into purchasing
sportswear for active use they are looking for clothing that has reflective strips
and is a noticeable color (Verdicts, 2016). Because of this need, consumers need
for a variety of colors needs to be meet through a variety of new color offerings.
If Exofitness were to offer a new color that were to be attractive to a younger
consumer then likelihood to purchase the product would go up, young consumers
are more likely to purchase bright colors in sportswear (Verdict, 2014).
3.3.a Marketing Mix Advantages
This change to the Exofitness offering will be completed by the factory
that is currently located in Portugal where the products are made (Sinclair,
2016). These products can be changed by working with this factory and looking
at the current offering of seasonal colors that are on trend. This can be done
through the Pantone sight and catalogue that is offered (Pantone, 2016), or by
looking into colors that are also popular in current sportswear trends
(WGSN.com, 2016).
By adapting to this change Exofitness will be able to offer is consumer a
new offering that they consumer will be more attracted to the popular and on
trend colors (Verdict, 2014). This color change will be valuable to the consumers
because they product will be comparable to other product offering in current
branded and non-branded sports stores in color offering, specifically in respect to
color range with the new addition of colors.
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4 Conclusions
Exofitness. London is a new brand that has had small successes in its
short life span as a brand, these being it’s successful granting of a patent, and
development of a product that their current consumers have taken into the
market place with great acceptance. However, there are many things that
Exofitness can improve on as previously mentioned, those being its lack of
marketing through their social media platforms, their lack of uniformity on their
current website that leads to a disassociation in brand identity, and finally the
small range of color that leads younger consumers away from the brand due to
the lack of choice. By solving these problems through the previously developed
strategy the brand will be able to contribute to the extend their reach to new and
developing market places, develop their brand identity, and target new
customers. This will be done through the strategy consisting of three parts.
These parts will be the hiring or contracting of a social media manager, the re-
design of the Exofitness website to match the new brand image developed and
portrayed through social media, and the development and release of new brand
colors added to the Exofitness sportswear line.
These changes will allow the brand to draw new customers to the brand
and develop a larger brand following and brand image. This will enable the
growth of the brand and the development of the product image. This strategy is
cost effect for the brand due to the limited investment that the brand would need
to make in the social media manager on a monthly basis (Pure, 2016), the
website re-design changes can be made on a need basis as time goes one
(Squarespace.com, 2016), and the color adaption cost can be done only once, and
then kept, if that is chosen by the brand. These changes can then be kept and
adapted for the continuation and adaption for the brands growth into new
markets as well the growth of the brand into new product lines, as developed by
Sinclair (2016).
With these changes Exofitness will be able to grow and in the future be
able to successfully expand to new markets including the United States, where
the fitness market has also grown exponentially in recent years (IBIS World,
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2015). Exofitness can become more well-known brand with these simply and
cost effective adaptations.
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5 Appendixes
5.1 Complete Squarespace.com Offerings
• Unlimited pages, galleries, and blogs with unlimited storage, bandwidth,
and contributors
• Mobile-optimized website
• Powerful website metric
• Free customer Domain (with annual purchase)
• 24/7 customer support
• Fully integrated e-commerce
• Sell up to 25 products
• 2% sales transaction fee
• $100 Google AdWords credit
• Developer platform
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