Marketing Management Plan to Achieve Corporate, Financial, and Marketing Objectives

BLUE® MARKETING MANAGEMENT PLAN
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Table of Contents
1.0 | Business & Performance Review
1.1 | Business Introduction
BLUE® is a multinational corporation operating in Europe and Asia, offering mobile technologies, customized phone designs tailored to meet our esteemed customers, and user-friendly gadgets. Quality and consumer satisfaction are the firm's driving forces; these can be stressed enough by the mission and vision statement.
1.11 | Business Mission Statement
'To be the leading phone manufacturer globally offering timely innovation to our esteemed customers. Integration of the best quality to offer quality experience is what our customer should expect, nothing less.'- BLUE® (2019).
1.12 | Business Vision Statement
* 'To offer user-friendly gadgets that meet internationally recognized and accepted standards at an affordable price.'
* 'To be research-driven and future-oriented mobile technology company, to produce products that serve today's but also tomorrow .' - BLUE® (2019).
1.2 | Periods 1-4 Performance Summary
1.21 | Year One
BLUE® registered the lowest share (3.67)price for the 1st year compared to other competitors in the industry. Figure 1.21 shows the share price compared to other players in the industry; the reason for low price shares is because of stiff competition in the market of the products that are similar to our products. The firm's performance was also typical, with an 18.40% gross profit ratio which was quite ordinary compared to other players in the industry, as shown in figure 1.21 below.
Figure 1.21 - Period 1 Summary ratios for BLUE® (Gross profit & Share prices)
1.22 | Year Two
The share prices for the BLUE® continued to take a hit with a share price of 2.92 (Fig. 1.22) and the gross profit ratio of 9.58% half of the previous year. The stiff competition from other players has made the market share drop. Also, the inadequate publicity and advertisement have resulted in the dropping of market shares, in turn, low share prices. The
Figure 1.22 The BLUE® gross profit and share prices
1.23 | Year Three
The share prices for BLUE® improved dramatically from the previous year's value of 2.92 to 33.27, the most improved share price with 1139% in a duration of 1 finical year. The company's remarkable improvement and turn of fortunes can also be seen in the gross profit ratio, triple the previous year's value. The firm capitalized on the emerging market of Asia to make a fortune because it had a better gross margin percentage compared to other competitors of 60%; the Asian market is where the firm needs to focus more to improve its stock prices and sale revenues. Finding the appropriate market mix and giving the customer what they need can contribute to this tremendous improvement.
Figure SEQ Figure \* ARABIC 1.23 Period 3 Share Price Performance Summary
1.24 | Year Four
BLUE®'s share kept going from strength to strength, the share value increase of €51.12 (158.41%); this indicates that the firm has not fully utilized its potential has more room for growth. (Figure 1.24) after noticeable acceleration from the previous production cycle, the firm's diminishing return curve is not yet realized. The firm can still increase the inputs and raw materials and get massive profits; this is the right time for the investors to invest because the returns are guaranteed at a higher rate.
Figure 1.24 Period 4 Share Price Performance Summary
The firm's brighter future can't be stressed enough by its technology index. The performance index for battery life is 179, which is the lowest among other competitors in the industry(Figure 1.24). With these data and perform the firm needs the right level of investments and management to take over the industry. It can be seen that the firm stock prices are rising with each passing year, so does its popularity. Aggressive advertising and improvement of the product's battery life will increase the share price and gross profit ratio.
BLUE® has a high potential of increasing market share compared to other players in the industry. It is visible through the firm's share price and battery performance, which is not yet at par with her competitors. However, by investing in research and development to develop a battery that is at a level with or better than the ones produced by other firms, then BLUE® will have solved the issues of small profit margins and revenues. The firm will be completive on all fronts. Appendices 1-4 show the firm's income statements over the years. It is visible that BLUE® needs to invest hugely in the research and development department to improve its market shares by producing quality products.
2.0 | Audit for Periods 1-4
2.1 | PESTEL analysis
2.11 | Political Factors
* China-US trade wars. The previous Trump administration had placed trade sanctions on China, which destabilized phone manufacturing worldwide. The current administration is trying to restore the relationship; however, the damage is already done.
* Brexit. Britain's disassociation from European Union has posed a challenge to manufacturers and businesses that trade in Europe. The price changes and rules and regulations between the EU and Britain are something that BLUE® has to factor in doing business in the European continent.
2.12 | Economic Factors
* Consumer confidence. The increase in the share price of the firm's share is an indication that the consumer is gaining confidence in using our product. Consistency improvement of quality and making the customer realize that they are getting the value for money is the way to go.
* Unemployment. The spread of the Covid-19 pandemic has resulted in a massive layer of the workforce, be it to curb the spread of the pandemic or to strategize to ensure companies stay afloat during these challenging times.
* Recession. The uncertainty surrounding the pandemic and emergence of new variants has made governments and consumers save for more challenging times ahead. Asian countries like China's economy are weak due to the economic imbalances resulting from the pandemic (Prasad, 2021). Thus BLUE® needs to factor in the inequalities of its operations in the Asian continent.
2.13 | Social Factors
* Advertising targets. The European market has an aging population compared to the Asian markets. Therefore, the advertising of the frozen products needs to factor in the target audience's age and capture what they wish to see in the smartphones, instead of blindly manufacturing and advertising, which will be costly.
* Working from home. Thanks to the pandemic, the consumption of electronic gadgets has seen a sharp increase because most activities that were done face to face, like meetings and conferences, are currently done virtually. Also, firms are encouraged to use flexible schedules that reduce overcrowding in the workplace. Therefore, technology has come to the rescue, providing room for the production of technological gadgets.
* Consumer lifestyles. We are living in an era where smartphones are supposed to do it all. For instance, phones have replaced digital cameras, thumb drives, and DVDs, diaries, calendars, among other things. Therefore, the phone's internal storage (ROM) and access memory (RAM) need to capture and store this information.
2.14 | Technological Factors
* The company adoption of 5G network. The rollout of the 5G network in some parts of Asia has prompted the firm to adopt and start manufacturing 5G smartphones. The ease at which the firm has adopted and configured the software and the hardware is critical for the company's success. It provides a competitive edge over other players in the industry.
* High technological and advanced smartphones. The modern smartphone is quite advanced, and even some do the work that a computer or a laptop can perform. Manufacturers have emphasized cameras and high processor speed, something they sell about their smartphones through adverts. However, battery life is something that a consumer worries about; a balance between battery life and camera and processor speed will provide BLUE® a competitive edge. A smartphone that gives you quality pictures, high processors speed, and long-life battery.
2.15 | Ecological Factors
* The rate at which smartphones and other electronic gadgets are phased out is quite shocking. The obsolescence of the phone due to competitive and fast strides made in the industry has resulted in unstainable e-waste production. These software updates are so much that the hardware can't keep up with, resulting from obsolescing the gadget and manufacturing new ones.
* Recycling. BLUE® should set up designated areas where out-of-use smartphones are collected, and customers are given new ones at a subsidized price. These will reduce the cost of raw materials used to manufacture new phones, and the environment and mother nature will thank the firm because the world will be one firm with less e-waste.
2.16 | Legal Factors
* Carbon emission. The world over is concerned with climate change, and several governments in Europe (Germany) are pushing for green energy to reduce carbon emissions. They are prohibiting products whose manufacturer does not conform with the regulations. The cost of production is expected to increase to retain this market through working with the environmental law.
1 | Porter's Five Forces Analysis
center1097280Competitive Rivalry (Very Strong) The industry has got multiple competitors (11 other players)The first 2 years the company stock was the lowest in the industry.Black is the dominant force in the industry with huge consume base00Competitive Rivalry (Very Strong) The industry has got multiple competitors (11 other players)The first 2 years the company stock was the lowest in the industry.Black is the dominant force in the industry with huge consume baseFigure 2.2 is based on components outlined in Porter's Five Forces Model (2008).
Figure 2,2 – Porter's Five Forces Analysis
2.3 STP Analysis
2.31 | Segmentation - (AW et al., 2019)
Profile:
* Geo-demographic of European & Asian households & companies.
* Social classes - rich and the poor
Psychographic:
* Innovators and trendsetters
* Conservative – Classic designs.
Behavioural:
* Frequent users
* Consumer's online purchasing behavior; from selected distribution outlets.
2.32 | Targeting
 Geo-demographic enables the firm to target its customer based on location, demographic, and age. For instance, the continent of Europe has got more aged population compared to the Asian continent, marketing campaigns and advertisement will not be the same due to tests and presences and priorities placed by each individual in the two continents.
2.33 | Positioning
 at the moment, BLUE®'s battery life is not as good as its competitors; therefore, the R&D department needs to be fully funded to enable an intelligent and innovative battery design that will place the firm ahead of the rest when it comes to the lifespan of the battery.
2.4 | SWOT Analysis (AW et al., 2019)
Strengths
Quality improvement. The firm share prices have risen over the years due to the continual improvement of the firm's product quality; hence, attracting more investors and customers to invest with us.
Room for improvement. The tight production curve is still in stage two; therefore, the management can still invest more in the R&D department and other areas with a guarantee of seeing tremendous results in quality output, high return on investments, and high sale revenue.
Weaknesses
Poor advertising strategy has resulted in low publicity of the firm's product.
Product branding and differentiation. Black dominates the markets because of being the first entrant to the market and highly differentiated products, something that BLUE® has to work on to be competing at the same level as Black.
Opportunities
Pandemic. If there is anything lesson learned from the pandemic is preparedness and resilience. The firms that have survived or thrived during the pandemic have the budget for unexpected events and act quickly when the threat arises.
Adoption of 5G technology. The firm adopting 5G technology and mass-producing the smartphone will give it a competitive edge over the other players in the industry.
Emerging markets. The firm should prioritize entering and dominating new and emerging needs to increase its sales revenues and, for instance, consider opening operations in Africa and the Americas.
Threats
Political instability in the middle east disrupts operations both in Europe and Asia.
Pandemics and natural calamities. It's high time for the firm to brace up for the more challenging times ahead. Various scholars and medical professions are warned about the emergence of another pandemic that is worse off than the Covid-19 pandemic. Better yet, the European and Asian continents are known to be hit by earthquakes, heatwaves, and tsunamis, which destroy life and property.
Economic recession. Uncertainty tends to make consumers save rather than spend, resulting in reduced demand for manufactured products and losses to companies.
3.0 | Marketing Plan for Periods 5-6 (2021/22)
3.1 | Objectives
Appendix 8
3.11 | Corporate Objectives
* The rate at which the company stock's share price rises, customer retention, and loyalty are necessary to consolidate the market base and venture into new and emerging markets.
* It is increasing the firm's market share by at least 8% for the next two years.
3.12 | Marketing Objectives
* The smartphone should be economical and affordable to the middle and low income earns—the largest consumer of the firm's product.
* Aggressive marketing and research-based target audience campaigns based on the continent and country (the one size fits all approach not applicable cause it does more harm than good) and after sells services to attract new customers and retain them.
* Increase advertising and product promotion expenditure by 10% across all segments each year to counter the influence of competitors and increase the low-end market growth.
3.13 | Financial Objectives
* Cutting back on raw material costs through recycling of obsolete electronic gadgets by 25%
* We adopt cheap, environmentally friendly energy sources to reduce emission charges and levies incurred due to fossil fuel energy by 30%.
* Increase operating profit percentage from 22.61% to 65% to compete with BLACK ® by the end of the 5th year.
3.2 | Marketing Strategies
3.21 | Product Portfolio Analysis
Figure 3.21 is the BCG matrix for the firm which has existed in a similar environment that BLUE® can use. The matrix can apply to the firm.
Figure 3.21 BCG Matrix of BLUE® adopted from the RED®
3.22 | Growth Strategies
Figure 3.22 is based on Ansoff's Matrix (Appendix 14), outlining RED®'s growth strategies for 2020/21.
Market Domination Strategy

Futuristic product development

Consumer-friendly prices that will increase market share.
* Patenting of the intellectual property to prevent new entrants from entering the market.

* Smart living and the integration of technologies into our daily lives should focus on producing intelligent products.
* Production of energy-efficient devices.

Figure 3.22 - Ansoff's Matrix adapted to BLUE®'s future growth strategies.
Different marketing strategies to diversify the BLUE® investment portfolio. The Asian markets have a high potential for intelligent products and innovative home technologies. The implementation of consumer-friendly prices will increase the firm's market share and help to reduce the market dominance of BLACK®. – appendix 6.
Innovation of new products like televisions, laptops, or models with more intelligent features will diversify BLUE®'s portfolio, increasing brand awareness and subsequent competitiveness to hold market share levels. Household intelligent products are the low-hanging fruits e...