MOD003507 Principles and Practices of Marketing-following SOSTAC elements

MOD003507 Principles and Practices of Marketing-following SOSTAC elements

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MOD003507 Principles and Practices of Marketing

Task:

Assess the viability of introducing the chosen company to a different country, outside of the UK, where they do not currently operate, using the SOSTAC framework. Each element of SOSTAC should be applied separately, but a holistic overview needs to also be used so that each element is integrated within the company’s planned strategy. Each of you will lead on one of the three tasks, below.

Task one (Student one). Time allowed: six minutes.

Present the following SOSTAC elements:

Situational analysis based on the macro environment of your chosen country

Objectives

Task two (Student two). Time allowed: six minutes.

Present the following SOSTAC elements:

Strategy

Tactics- focussing on Place, Price, Product/ service and Promotion, incorporating one or more of the following approaches

Standardisation

Adaptation

Glocal

Task three (Student three). Time allowed: six minutes.

Present the following SOSTAC elements:

Action

Control

Finally; you will conclude the presentation by justifying why the country represents a viable target for this project. 

Assessment Criteria

Clear understanding of SOSTAC as a planning framework, which includes the three taught marketing options (Standardise, Adapt and Glocal), that support SOSTAC’s situational analysis.

Knowledge of relevant literature that would permit an understanding of effective marketing solutions.

Strategies and tactical plans that are supported by a sound information base.

The ability to use creative marketing skills and knowledge in a practical and applied situation.

Work that demonstrates intellectual originality and imagination.

Clear and engaging presentation style and delivery. 

MOD003507 Principles and Practices of Marketing

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