My Protein : Brand Expansion Strategy
This project involved developing a comprehensive marketing strategy for Myprotein's hypothetical expansion into the UK gym market. The proposal outlined a plan for Myprotein to leverage its established brand in sports nutrition to open physical gym locations, offering a unique combination of workout spaces, nutritional supplements, and fitness consultations under a flexible subscription model.
BROWSE KEY COMPONENTS
Market Research
Conducted PESTLE analysis to evaluate external factors affecting the UK fitness industry.
Performed Porter's Five Forces analysis to assess competitive landscape.
Created TOWS matrix to identify strategic opportunities and threats.
Strategic Planning
Developed SMART objectives for market entry and customer acquisition.
Crafted a strategic pyramid outlining the brand's vision, mission, and values.
Designed a positioning map to identify market gaps and opportunities.
Marketing Strategy
Segmentation: Focused on 25-44 age group using psychographic segmentation.
Targeting: Employed differentiated marketing approach for varied consumer needs.
Positioning: Aimed for high-quality service at comparatively low cost.
Product: Designed comprehensive fitness packages combining gym access, supplements, and consultations.
Price: Developed competitive pricing strategy based on market analysis.
Promotion: Outlined multi-channel promotion strategy using owned and paid media.
Place: Targeted 5 major UK markets for initial gym openings.
Branding
Created a modified logo for Myprotein Gym to maintain brand consistency.
Retained the tagline "Fuel your ambition" to reinforce brand identity.
Key Achievements
Identified a market gap for low-cost, high-quality fitness services.
Developed a unique value proposition combining gym, nutrition, and consultation services.
Created a flexible pricing model to cater to diverse consumer needs.
Leveraged Myprotein's existing brand strength and online presence for marketing.
Designed a scalable expansion strategy targeting major UK markets.