Strategic Marketing Plan for Asus: Market Analysis & Strategies

This report presents a strategic marketing plan for Asus, a multinational company specializing in computer and electronic products. It includes a background of the company, its mission and corporate strategy, and a Porter's Five Forces analysis to assess the competitive landscape. The report also discusses perpetual mapping to visualize the company's market position and explores various marketing strategies, including branding, customer relationship management (CRM), internal marketing, and social media marketing. The current marketing strategy is evaluated, and recommendations are made to enhance Asus's market presence and profitability. Desklib provides access to similar solved assignments and resources for students.

STRATEGIC
MARKETING PLAN
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Table of Contents
INTRODUCTION.......................................................................................................................................3
MAIN BODY..............................................................................................................................................3
Background of the company....................................................................................................................3
Mission & Corporate Strategy.................................................................................................................3
Porter’s Five Forces.................................................................................................................................4
Perpetual Mapping in position for company............................................................................................6
Marketing Strategies................................................................................................................................7
Current Strategy......................................................................................................................................8
CONCLUSION.........................................................................................................................................10
REFERENCES..........................................................................................................................................11
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INTRODUCTION
The term strategic marketing plan refers to a framework that provides a help to the
businesses in identifying and reaching to the desired goals. This involves setting up of goal,
objectives, evaluating various internal and external factors of business, planning &
implementation marketing plan as well as tracking of the marketing process. The main aim of
strategic marketing planning is to provide a shape or restructure its activities related to
company's product and services so that can attain higher profits for the company (Bharadwaj,
Khan and Yameen, 2021). The present report talks about the development of company's
branding, internal marketing, social media marketing, internal along with a discussion upon
customer relationship management. For the present report Asus Company is being considered
which is a international company that deals in computer and other electronic items. The report
includes a Porter’s five force analysis, mission & corporate strategy of the business along with its
perpetual mapping in position.
MAIN BODY
Background of the company
The company Asus is a multinational company that offers electronics or phone &
computer hardware’s across the globe. The company deals in multimedia products, tablet,
computers, networking equipment’s, mobiles, and many other items. It was being established in
year 1989 in Taiwan as a public company. The company is having annual revenue of more than
$351.33 billion whereas its Net income is more than $13.02 billion annually. Asus is placed at
world’s 5th biggest PC seller company per unit and is among the top 10 in IT companies ranking
across the globe. It does not only sells its items through its physical stores but also sells via E-
commerce platform and its own website.
Mission & Corporate Strategy
 Mission: The Company Asus aims at delivering highly innovative products to its
customers that turns inspire customers in order to reach their heights of fun and
productivity.
 Corporate Strategy: The main strategy of Asus is to integrate 3C solutions in
computers, electronics and communications that offers innovative products which can
simplify the lives of customer’s along with a realization of their highest potential to them.
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Porter’s Five Forces
Asus is known as the well-known brand in the computer world. The most famous
computer brand invests huge amount in company’s research and development along with
innovation that is categorized as company’s main focus. The year 2016 was highly remarkable
for different economic & political changes at international level. The industry trends for
company has also fluctuated and the increase of mobile computing has taken business to decline
in computer dealings. Thin & lightweight are preferred by the customer’s now. Other than higher
product, the values provided to customers also seeks a fine experience (Chatterjee, S and et .al.,
2020). Although, both computing & touch phones market has reached a position of standstill &
that could make the condition of difficulty for the business. The company Asus has emphasized
upon cost efficiency & product innovation in order to attain greater profits. The company also
comprises of a limitless pool of talent that provides a great source of high competitive advantage.
The Porter’s five force model includes its essential elements such as bargaining power of
customer, bargaining power of supplier, threat from substitutes & new entry. The analysis of
Porter’s five force for Asus is mentioned below:
 Bargaining power of suppliers: The bargaining power of suppliers in context to Asus is
very low as the business is scattered with international presence & because of their
limited size. China is a country where the company is having more suppliers for its items.
Other than this, the company’s sellers are from different other parts of globe. Most of
such suppliers for Asus are within the industry of PC dealings and are very few that does
not have much financial competency. Asus Company formulates the rules & regulations
for its suppliers which they are needed to apply. Although, the business also focuses upon
training its suppliers with respect to the essential information & issues through holding
sessions or seminars in different regions of globe. The wholesome bargaining power of
suppliers is limited in market due to above mentioned factors. Asus Company is having
different options & has a potential to switch to other supplier at any time without
experiencing any extra cost. If in case any of the supplier hold certain financial clout then
this could be because of their high quality of items (Chen, Ma and Wang, 2021).
 Bargaining power of customers: The customers in market holds an important bargaining
power within the 21st century. This is as they are having huge number of options in
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context to quality & efficiency. The buyers are having complete information & carries all
the related data they are required to have in their buying decisions. There are different
factors that can together head to an enhancement within the bargaining power of the
buyers. The most essential factor is market competition. Another is the increase in
mobile technology. The switching costs for the buyers is very low as they could have
similar quality & efficiency products from other brands in market. The forces that
moderate customer’s bargaining power is brand image & innovation within the
technology. But then also, the aggregate bargaining power of the buyer’s is high
in market (Deef-Allah, Abdelrahman and Hemida, 2020).
 Threat from substitute products: The major threat of substitute is from the items that
rival firm’s sells in same market with identical features. Since all the available brands are
emphasising upon the technological innovation & performs their best to react to the
dynamic trends. Due to the presence of a huge number of brands that offers higher quality
products & caters to similar demand, the threat from substitutes is moderately huge to the
firm. The scope of quality, innovation, efficiency & the price is an essential
differentiators which influences the customer’s loyalty level and brand recognition
(Eugenio-Vela, Ginesta and Kavaratzis, 2020).
 Threat of new entrants: The threat of new entrants is very low to Asus because an entry
into computer or mobile world needs a huge investment in innovation and technology
which is not possible for new firms. The new companies also finds it complex to attain
foothold the prevailing firms are extremely competitive & leaves very few scope for any
new entrance to enter in market. They adopts their competitive advantage so can be able
to retain their buyers & engage them with their products. They are along with this is able
to experience the economies of scale that is not feasible for new businesses within short
span of time. There is a high entry & exit barrier in the market within this industry due to
which it becomes difficult for any new business to have a smooth entry. On the other
hand, the legal & regulatory barriers also behaves like a threat for new businesses. Such
barriers adds to the operating expenses & for new entrants situation could be complex
providing them less scope of market functioning and business operations (Gupta, 2020).
 Competitive rivalry among existing players: The scope of competitive rivalry among
existing companies in market is high. The market for computers has now been saturated
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& with the frequent changes in trends the computers or laptop market has experience a
continuous decline. This has developed a high intensity of competition in market. Rival
firms has enhanced for different reasons too. The computer market has developed to the
saturation & firms are now investing their money more in research & development along
with a high innovation to attain business success. Each buyer is valuable & brands are
emphasising upon business innovation & are investing in marketing segment for the
growth. On above to all, such forces lead to an extreme highest level of competitive
rivalry among the prevailing large firms and in computer brands (Handini and Dunan,
2021).
Perpetual Mapping in position for company
The perceptual mapping refers to a diagrammatic way that is being utilized by the
company’s marketers with an aim of attempting to display the customer’s perceptions in visual
manner. Generally the product’s position, brand, product line, or firm is showed relative to their
market competition. Few perceptual maps utilizes distinct size circles to represent their market
share or sales volume related to their rival firms products. Since, the industry of computer or
laptops is highly developed with a dynamic scenario and with a continuous focus upon the
innovation and technology by Asus in its products attracts more and more customers towards the
offerings of company. The company Asus being an international firm provides its products with
high quality of services and hardware’s that attracts more customers and makes it a leading
computer firm in international market (Hinson, R.E and et .al., 2020).
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Marketing Strategies Branding Strategy: The concept of branding refers to a strategy that is being developed
for a long period in order to achieve company's long term objectives. This results into a
brand identification of company by their customer's. This includes mission behind the
brand recognition and how this can be communicated to the customer's (Lal, B and et .al.,
2020). There are different types of branding strategies which Asus can adopt, these are
personal branding, product branding, online branding, etc. some of them which a Asus
adopts for the promotion of its flavoured buttermilk are discussed below:
◦ Product Branding: This refers to a strategy that is being utilised by large
organisations in order to decide the product's contribution for the specific brand
name. The main aim of this is to develop a single product and distinct its identity in a
recognised way. This includes design or symbol for an Asus product that assists
customers in identification of the product.
◦ Personal Branding: This includes such technique in which company brands its
product or service for a single person rather than branding for complete organisation.
This is generally done by politicians, leaders, athletes and celebrities to represent their
version in front of the public. The retail businesses uses this type of branding in order
to resale products and services of Asus (Lebdaoui and Chetioui, 2020).
◦ Online Branding: This refers to a strategy that is being adopted to promote company's
products and services through digital mode that is via internet. This includes social
media platforms, publishing of online content, Asus’s own website and blogs. In the
time of technology or digitalization most of the business houses adopts online
branding as their promotional strategy (Mackreth and Bond, 2021). Customer relationship management: The concept of customer relationship management
or CRM is a tool that is used in order to develop a professional relation with their
customer's. This is also done with an aim of generating, retaining & acquiring more and
more customers for the company. This is done through a computer software which
collects the information of all its customer's and creates a proper database. Through the
use of CRM method it becomes easy for Asus to attract new customers, develop trust in
them, and provide regular support and additional services based on their preferences
(Matidza, Ping and Nyasulu, 2020). This provides a marketing & sales team with a
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combination of tool which are helpful in managing the whole marketing and sales funnel
for the Asus. This automates the routine procedure and also furnishes managers with
proper tools that permits them to track and manage their performance as well as
productivity. In order to generate higher sales the Asus can adopt a solution in a form of
tool that is known as CRM software. A system can also be connected with other
applications of business which can assist Asus in developing strong customer
relationship. This can also be integrated with Asus’s tools such as signing a document,
billing & accounting, conducting surveys so to have two way flow of information’s and
provide a complete view of company's customer's.
Shortfall/gap in Branding Strategy:
The main shortfall within the branding strategy of Asus is that is still promotes its
products and items via traditional mode of advertisement that is on televisions or via roadside
hoardings which is now a days is valued less by the customers (Ogbechi, Dixon-Ogbechi and
Halim, 2020).
Recommendation
It is to be recommended to Asus that the company should adopt digital marketing or
online marketing tools for promoting its products because now a day’s people are more spending
their time on mobiles or on internet. This would lead to attract more customers towards the
product. Also, it can place its ads in a form of short videos over YouTube or on other OTT
channels.
Shortfall/gap in Customer relationship management
The biggest shortfall in Asus’s customer relationship management is that the business
connects with its customer’s less via emails or phones. It does not conducts a frequent or regular
conversation with its buyers which does not allows their customers to feel loyal with the brand.
Recommendation
It is to be recommended to Asus that the business should hire such employees who are
highly skilled in developing professional relationships with company’s customer’s and makes a
regular contact with them. Also, Asus can have a regular feedback from its buyer’s at the time of
purchase or servicing of their laptops and computers.
Current Strategy
The current for company Asus is mentioned below:
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 Product: The Company offers laptops, computers, mobiles, tablets and other hardware’s
to the market across the globe.
 Price: The Company currently functions its business and sales its items with an
aggressive pricing strategy to market with an aim of attaining higher competitive
advantage. On the other hand they also adopts a price penetration strategy at the time of
launching of new product (Sharma and Bumb, 2021).
 Place: The Company Asus currently offers its products via its physical outlets, on its own
website and through E-commerce platform across the globe. The company also sells its
items through third party retailers who purchases Asus products at low cost and further
sells such items with profit.
 Promotion: Asus pays its emphasis upon school students or college students and targets
this age customer’s. On the other hand instead of expending more on advertisements the
company focuses upon providing high quality of products which will automatically
attract its customers.
Marketing Budget for three years
The marketing budget refers to an expected financial representation of company’s
expenses and potential sources of income that can be considered by Asus within the period of
three year. This includes the major area upon which a company is required to make its expenses
or investment for the successful achievement of objectives (Wu, Guaita Martínez and Martín
Martín, 2020). The budget is being prepared by the marketing department with respect to the
promotional activities and are send to company’s finance department so that can arrange
appropriate funds for them. This helps in ignoring unnecessary expenses and cutting down
different irrelevant costs that can decrease the profit margin or can increase product’s price. The
three year marketing budget in context to Asus Company is mentioned below:
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CONCLUSION
From the above report it can be concluded that a business should have innovative approach
in its products that can be able to attract more customers. The computer or laptop industry is
highly growing which needs a huge investment and a focus upon research and development. The
Porter’s five force can be applied in company to know their competitive position which includes
bargaining power of customers, bargaining power of suppliers, threat of substitution, threat from
new entrants and a competition among rival firms. It is also concluded that in order to have a
strong marketing strategy a company can adopt branding strategy as well as customer
relationship management technique with its proper knowledge and execution. This can lead
company to attract more customers in market and attain more market share. The current strategy
of a company can be analysed through the elements of marketing mix such as product, price,
place and promotion. The current strategy lays down the foundation for future or upcoming
strategy along with an overview of any flaws if they determines so that can be considered in
future.
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REFERENCES
Books and Journals
Bharadwaj, S., Khan, N.A. and Yameen, M., 2021. Unbundling employer branding, job
satisfaction, organizational identification and employee retention: a sequential
mediation analysis. Asia-Pacific Journal of Business Administration.
Chatterjee, S and et .al., 2020. ICT-enabled CRM system adoption: a dual Indian qualitative case
study and conceptual framework development. Journal of Asia Business Studies.
Chen, H., Ma, D. and Wang, R., 2021. Chinese entrepreneurs’ experience of social media
marketing: perception, strategy and challenge. Journal of Research in Marketing and
Entrepreneurship.
Deef-Allah, E., Abdelrahman, M. and Hemida, A., 2020. Improving Asphalt Binder’s Elasticity
through Controlling the Interaction Parameters between CRM and Asphalt
Binder. Advances in Civil Engineering Materials. 9(1). pp.262-282.
Eugenio-Vela, J.D.S., Ginesta, X. and Kavaratzis, M., 2020. The critical role of stakeholder
engagement in a place branding strategy: A case study of the Empordà brand. European
planning studies. 28(7). pp.1393-1412.
Gupta, P., 2020. Marketing, Advertising or Promotions: A Strategic Planning. Journal of
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Handini, V.A. and Dunan, A., 2021. Buzzer as the Driving Force for Buzz Marketing on Twitter
in the 2019 Indonesian Presidential Election. International Journal of Science,
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Hinson, R.E and et .al., 2020. Internationalisation and branding strategy: A case of the English
Premier League’s success in an emerging market. Qualitative Market Research: An
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Lal, B and et .al., 2020. Return on investment in social media marketing: Literature review and
suggestions for future research. Digital and Social Media Marketing, pp.3-17.
Lebdaoui, H. and Chetioui, Y., 2020. CRM, service quality and organizational performance in
the banking industry: a comparative study of conventional and Islamic
banks. International Journal of Bank Marketing.
Mackreth, K. and Bond, A.J., 2021. Changing the sport product: marketing implications for
championship rugby league clubs in the United Kingdom. Managing Sport and
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Matidza, I., Ping, T. and Nyasulu, C., 2020. Use of digital marketing in estate agency industry in
Malawi. E-Learning and Digital Media. 17(3). pp.253-270.
Ogbechi, A.D., Dixon-Ogbechi, B.N. and Halim, H.C., 2020. An Assessment of Strategic
Marketing Planning and Sustainable Corporate Performance of Insurance Organization
in Nigeria.
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Sharma, S. and Bumb, A., 2021. Marketing at the Bottom of the Pyramid: Overcoming the
Challenges through MICMAC Analysis. Journal of Global Marketing, pp.1-16.
Wu, C.W., Guaita Martínez, J.M. and Martín Martín, J.M., 2020. An analysis of social media
marketing strategy and performance in the context of fashion brands: The case of
Taiwan. Psychology & Marketing. 37(9). pp.1185-1193.
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