week 5 marketing

.docx

School

University of Phoenix *

*We aren’t endorsed by this school

Course

MGT 575

Subject

Marketing

Date

Apr 3, 2024

Type

docx

Pages

6

Uploaded by MajorSnake3929

Report
1 Marketing Objective University OF Phoenix Marketing Strategy/MKT 575 Professor Cloward 9/24/2023
2 Reason for Change Regular exercise and physical activity have been linked to living a healthier lifestyle. As society continues to make healthy eating and workout choices, this allows leaders in the fitness industry to take advantage and expand on consumers interest. Marketing Objective Develop a plan to break into new areas by the next mid- quarter of 2024, research the area and the need for a new gym in the area and send promotional advertising to the targeted audience and the benefits of using titanium equipment compared to steel. Justification: Market research is important to ensure you are offering the best product or service to your consumers. Leadership must ensure they are offering a gym that is beneficial to the area.
3 Obtain brand influencer for the first half of the year, this will increase brand awareness to the target audience. Previously the company has used celebrities such as Arnold Schwarzenegger and Lou Ferrigno to develop their brand image. However, the company must re-brand themselves by developing an image that fits their targeted audience. Justification: Gold's Gym has built its brand on heavy lifting and body- building competition. Leadership will need to reconstruct their brand by showing their gym can be used for everyone through effective advertisement. Increase sales by 15% for the remainder of 2022 by offering promotional gym enrollments also currently offering
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