The concept of marketing in the contemporary society has been
greatly influenced by the significance of technological inventions that have
reshaped the manner of communication and access to information across the
world. Various economists have come up with various new models to redefine the
scope of marketing in this new environment. In the 1990’s, an economist named
PR Smith created one of
...[Show More]
The concept of marketing in the contemporary society has been
greatly influenced by the significance of technological inventions that have
reshaped the manner of communication and access to information across the
world. Various economists have come up with various new models to redefine the
scope of marketing in this new environment. In the 1990’s, an economist named
PR Smith created one of the most commonly used digital marketing plan models:
SOSTAC, considered significant to be very concise in the creation of
wider-scope marketing strategy. The applicability of this model to various
business operations marketing strategy has grown over the years with slight
improvements, to the extent that is paramount for business students to
understand the context of the SOSTAC model and how to write and execute the
same plan. In this regard, this analysis delves into these areas to give
insightful information about the SOSTAC model.
SOSTAC model is essentially a logical step process to the creation of marketing plan,
with every element assuring that each relevant factor is considered. The model has been dealt
with various economists through the assumption that it is a collection of two major variables:
SOS- a set of target goals that are the focus of the marketing plan and finally a well-regulated
measurable implementation strategy (TAC). With this knowledge, it is easily comprehensible to
understand the nature of details required under each step as represented by each acronym in
SOSTAC (S- Situation, O-Objectives, S- Strategy, T- Tactics, A- Actions, and C- Control.) The
following analysis shows the required analysis under each category to comprehensively help in
writing a digital marketing plan using the above model:
Situation Analysis.
Under this category, the marketing team is guided by the need to answer the question of
exactly where the whole firm currently is, i.e., where are we now? To answer this question the
following points help the marketer to best perform the situation analysis:
Market Analysis: can be done using SWOT as explained below.
Current customers composition (Who, why)
3
MARKETING
Carry out competitors’ analysis
Explain the current market trends
Current performance clarification.
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