UGB335: Development and Implementation of a Strategic Marketing Plan Assignment Help
Question
UGB335: In this Business and Management assignment for the University of Sunderland, the student is required to critically analyze a strategic marketing plan for a chosen company. The student is supposed to select a target market and industry-neutral company, and then conduct an analysis of its existing marketing position. After that, a strategic marketing plan needs to be created based on the analysis, which addresses the organization’s short-term and long-term goals.
Solution
In providing this UGB335 Strategic Marketing Plan Assignment Help, our experts have carefully analyzed the marketing environment pertaining to the chosen organization and developed a comprehensive strategic management plan based on this analysis. Our experts utilize the appropriate tools for the analysis of the company. The company chosen for writing this plan is Blackberry.
Introduction
This section provides a brief overview of the company, its history, and the goals of the strategic marketing plan. We have provided only half of the complete introduction here.
Organizations operate in a highly competitive and uncertain environment where trends keep on changing due to factors like technology and customer needs. Therefore, engaging in strategic marketing planning is crucial to gain competitive edge over competitors while also sustain organizational growth and development. Considering the relevance, this report presents a strategic marketing plan for Blackberry.
Organizational Overview
BlackBerry is a Canada-based international business offering technology and software-based services including cybersecurity (BlackBerry 2023). Initially, BlackBerry was a premium smartphone brand and owned approximately 50% of the US and 20% of the world’s smartphone market by selling approximately 15,000,000 smartphone devices in a year (HBS 2018). The success and dominance of BlackBerry in the smartphone market can be estimated by the fact that even after the entry of competitors like Google’s android in 2008 and Apple’s iPhone in 2007, Blackberry still owned approximately 40% of the US and 20% of the global market share (HBS 2018).
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Situation Analysis
In providing UGB335 Strategic Marketing Plan Assignment Help for this section, our experts have examined the organization’s external and internal marketing environments in great detail. Here, frameworks like Porter’s Five Forces, PESTLE, and SWOT have been used to analyze the important opportunities and dangers.
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Marketing Objectives and Goals
In this section, the student was asked to outline the organization’s marketing objectives and goals, both short- and long-term. We have provided some of the goals set up by our experts.
Short-term Marketing Objectives and Goals
- Relaunch BlackBerry smartphone brand in India by 2025 to mark its entry in the Indian smartphone industry.
- Create and launch a digital marketing strategy for BlackBerry by the third quarter of 2024 to create brand awareness.
Long-term Marketing Objectives and Goals
- Acquire 20% of the market share of the smartphone industry of India by 2040.
- Create a customer base of nearly 50 million by 2040 in India.
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Marketing Strategy
In this section, a thorough marketing plan that takes the organization’s aims and objectives into account has been created by our experts. Our experts have discussed the positioning, segmentation, target markets, as well as the PPC marketing mix.
Target Market
The most suitable target market for BlackBerry in India are Gen Z and millennials, consumers aged between 16 to 34 years. A study conducted by Statista (2019) revealed that the highest penetration rate among smartphone users in India is among consumers aged between 16 to 24 years (37%), followed by consumers aged between 24 to 34 years (34%). The key purpose of using smartphones is to create and maintain social relationships while also consuming entertainment and fulfil other needs (Economic Times 2019). Whereas, another study conducted by Singh (2019) revealed that smartphone usage and penetration is highest in urban areas of India. Whereas, Khanna (2022) reported that sales and demand for smartphone is likely to boost by the rural population of India.
Segmentation
Positioning
Brand positioning is the process of creating the image of a brand through its distinctive properties, positive associations, and value in the mind of consumers. In this way, positioning helps consumers in easily identifying and differentiating a brand from its competitors (Fayvishenko 2018). Since BlackBerry is already an existing company and has operated in the past in the Indian smartphone market, it does not need to create a new identity.
Marketing Mix
The marketing mix strategy for BlackBerry’s re-launch is provided in a detailed manner below.
Product
Product is one of the crucial aspects of marketing mix and it refers to something with an ability to satisfy certain needs of consumers. Product comprises of certain features or core benefits and its consumption help consumers in satisfying their certain needs (Išoraitė 2016). However, apart from fulfilling the needs of consumers, a product must also comprise of other attributes including quality, brand name, and size which makes a product attractive and appealing to consumers (Khan, 2017).
Price
Second crucial component in a marketing mix is pricing because of its direct impact on the profitability of the organisation as well as the purchase behaviour of consumers. Creating a pricing strategy can be extremely complicated and challenging because apart from ensuring good revenue and profitability, organisations are also required to consider the perspective of consumers and encourage them in purchase decision making (Išoraitė 2016). Pricing strategy selected for BlackBerry is competitive-based pricing.
Place
Third aspect of marketing mix is place which aims at making a product easily accessible and available to consumers. Marketing strategies are generally aimed at making the right product available, at the right time and at the right place (Khan 2014). Therefore, to influence purchase decision making among consumers it is extremely important that a product is available to them and therefore creating place strategy carefully is extremely important. Appropriate places to sell BlackBerry’s smartphone include its official website in India, store outlets, and third-party online retailers like Amazon and Flipkart.
Promotion
Promotion is the last and most crucial aspect of a marketing mix. Promotion emphasizes on creating awareness regarding a product and thereby boosting its sales and profitability (Khan 2014). Promotion can be done through multiple activities including sales, personal selling, advertising, and public relations. However, it is crucial to select and implement digital strategy using platforms that more align with consumer’s behaviour (Išoraitė 2016). Initially, the promotion for BlackBerry’s smartphones will be done through billboard and social media advertising.
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Implementation and Control
In the following section, a thorough implementation strategy has been created that includes a budget, schedule, and key performance indicators (KPIs) to track and assess the plan’s efficiency.
Timeline and Budget
KPIs for Monitoring and Evaluating Effectiveness
Key performance indicators (KPIs) play a pai hotel role in monitoring the success and failure of a marketing strategy and thereby implementing necessary measures in order to ensure improvement of the strategy (Saura, Palos-Sánchez and Cerdá Suárez 2017). Few KPIs that will be used to monitor the marketing strategy for BlackBerry are as follows:
- Return on Investment (ROI) refers to the amount of money or profit received by an organisation in comparison of the marketing cost it invest. It is extremely important that organisations receive ROI for their investments because it implies profit. Therefore, BlackBerry must receive at least a double of ROI it is investing to ensure profitability.
- Conversion rate refers to the percentage of visitors in a website who completes a purchase. The higher the conversion rate of a website, the higher the success of marketing strategy; whereas the lower the conversion rate of a website, the lower the profitability of an organisation and the higher the loss.
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Potential Risks, Challenges, and Mitigation Strategies
Our experts have discussed the possible dangers and difficulties and in this section based on which some methods to address these difficulties have also been offered.
- Reputational risk is one of the most common types of risk that can which can negatively impact brand image and stakeholder relationship. This is a major risk because it holds the capability to negatively impact the growth, profitability and competitiveness of an organization (Heil 2018).
- Low engagement of consumers with social media marketing is another potential risk that BlackBerry can face. Attracting the attention of consumers can be difficult as it is a time-consuming process.
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Conclusion and Recommendations
Lastly, a brief synopsis of the strategic marketing plan along with suggestions for future development have been provided by our experts.
A strategic marketing plan for BlackBerry for its re-entry in the smartphone industry of India is presented. Blackberry has access to financial technological and human resources which are its biggest strengths; however, its exit from the Indian market and limited experience in the smartphone industry are its biggest weaknesses.
Few of the recommendations that BlackBerry can consider to make its re-entry more successful in India are as follows:
- India is a culturally diverse country and is different from Western markets such as the US and the UK (Haq et al. 2020). Therefore, in order to operate and succeed in the Indian market, it is crucial for organisations like BlackBerry to understand the local culture and adopt localisation in its marketing strategy. This will help the organisation in connecting with potential consumers in a much better manner (Fregidou-Malama and Hyder, 2015).
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