Marketing Plan For GAP
This project requires me to develop a marketing plan for a fashion brand of my choice. I must take into consideration the impact of the past 3 years and the current macro environmental factors that will have impacted the business.
Situation Analysis
Gap has been struggling with declining sales, reporting a $202 million loss in 2022 as consumers shift towards more trend-driven and affordable brands. Once a retail giant, the brand has faced challenges over the past two decades, losing its appeal to younger audiences. While a three-year turnaround plan is underway, and there are signs of progress, Gap still grapples with an unclear brand identity. Having long prioritised simplicity and classic styles, it has failed to innovate, leaving it trailing behind fashion-forward competitors. Much like Next, the retailer is also burdened with excessive retail space and limited vision on how best to utilise it.
Marketing Objectives
Boost Brand Awareness & Gen Z Engagement
Increase brand visibility and attract more Gen Z customers by launching pop-up stores featuring hoodie customisation events within three months.Revamp Brand Perception & Drive Sales
Reinvent Gap’s public image as a more dynamic and trend-driven brand, aiming for a 5% increase in net sales revenue by 2025 through a viral social media campaign on Instagram, TikTok, and YouTube.Strengthen Sustainable Brand Image
Enhance Gap’s commitment to sustainability by launching a donation campaign to collect 100,000 second-hand garments by January 2025, rewarding customers with vouchers for returning used clothing.Increase Digital Traffic via Strategic Collaboration
Generate a 10% uplift in website traffic within six months through a collaboration with Ganni, leveraging co-branded marketing and exclusive product drops.
Marketing Strategies
This project involved analysing a sustainability strategy using KPIs to assess its effectiveness. The analysis covered both the benefits, such as enhanced brand image and customer engagement, and the challenges, including logistical complexities and profitability concerns.
Key Performance Indicators (KPIs):
Drive customer engagement through a social media campaign to collect 100,000 used garments by January 2025.
Expand the sustainable product line by 5%.
Achieve a 30% participation rate in the clothing return programme within the first year.
Generate 5% of total profit from the "Reworn" section by December 2024.