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).

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