solution

Consider the Scenario given below and attempt the questions that
follow:

Your managing director is worried about the impact of
coronavirus pandemic on his retail business (The Blue Lagoon
Retail). Recently, he read an article, and noted that 57% of
executives expect the economy to improve six months from now, with
29% expecting the economy to worsen – the most optimistic outlook
since the beginning of the pandemic. The Blue Lagoon Retail is a
South African retailer who has been in South Africa for more than
20 years and has customers who have shown a strong degree of
loyalty to the brand. However, due to the coronavirus pandemic, the
Blue Lagoon Retail lost 20% market share to its competitors. Having
been appointed as Marketing Manager of the Blue Lagoon Retail, the
managing director has set you an objective of regaining the 20%
market share lost to competitors, and to maintain it for the next
five years. Your marketing plan should incorporate influences of
current environments in South Africa (A research of South African
retail industry is encouraged). The marketing plan should include
the following six tasks:

Formulate the marketing strategy (incorporate action programmes
and budgets) for Blue Lagoon Retail. 30 marks detailed
answer.

Provide marketing controls for Blue Lagoon Retail based on the
strategies formulated. 20 marks detailed answer.