Applying PR Smith's SOSTAC Marketing Model to an Online Confectionery Start-Up
*(1.)
Going deeper in the Marketing theory, we analyzed the SOSTAC Marketing Model a systematic design and implementation of a digital marketing plan on the online Start-Up company 'Jellies & Jaffas'.
SOSTAC is an acronym for the six core components to be considered when generating a marketing plan: situation (S), objectives (O), strategy (S), tactics (T), action (A) and control (C). Each component represents a stage in the cycle of planning, and each stage is of equal importance to successful marketing planning, implementation, and review (Chaffey & Smith, 2013).*(2.)
What came to my attention is the curious fact, that SOSTAC is an extension of the traditional SWOT analysis, that I knew before and from my job training, that is a situational analysis of the strengths (S), weaknesses (W), opportunities (O), and threats (T) facing a business at the outset, when introducing a new product line, or when engaging in an organizational change process. (*3)
*(4)SOSTAC is an acronym for the six core components to be considered when generating a marketing plan: situation (S), objectives (O), strategy (S), tactics (T), action (A) and control (C). Each component represents a stage in the cycle of planning, and each stage is of equal importance to successful marketing planning, implementation, and review (Chaffey & Smith, 2013).*(2.)
What came to my attention is the curious fact, that SOSTAC is an extension of the traditional SWOT analysis, that I knew before and from my job training, that is a situational analysis of the strengths (S), weaknesses (W), opportunities (O), and threats (T) facing a business at the outset, when introducing a new product line, or when engaging in an organizational change process. (*3)
Each stage of the SOSTAC model has
been theoretically applied to the start-up online business and it has been
checked if it is necessary to the model. It all depends on the necessities of
the development. All in all, the perfect SOSTAC model has been officially
applied, which has been summarized in the report.
I found the
SOSTAC report of Jaffas & Jellies as a very interesting example of the strategy.
I will share here the details, that I found most appealing:
The
Situation was that sweets are always popular and are one of the products hat
customers will always pursue and in the times of Digital marketing, the photos
of these sweets in retro style were the very best approach.
The main Objective
of the business is to satisfy market demand, to generate profit and market
share. Moreover, building brand
awareness and reputation for service and products, while discovering where the
most valuable consumers are. It this example the most valuable Customers were
Wedding organizers.
The Strategy
was to be in alignment with what competitors share and employ. To build strong
and recognizable and competitive on the market brand.
The Tactic
characteristic for this project was to build strong social media brand,
especially Google Ads, You Tube baking channel and regular posts on Pinterest.
Apart of that using Facebook and Twitter and deep analysis of all the mentioned
channels appeared to me as very structural and well-organized tactics.
Having said
that, the regular Action & Control has been presented as the most important
parts of the whole SOSTAC plan. Schedules and responsibility plans are
essential in here.
Tu sum up,
this model of Digital Marketing may be costly and take time, but for sure it
will bring structured results and outcome, same as on the "Jaffas &
Jellies" example.
All in all it looks like time-consuming, so not sure if I would use it personally for my Photography business.
All in all it looks like time-consuming, so not sure if I would use it personally for my Photography business.
Bibliography
& Social Media Image Credit Appendix:
1.https://slidemodel.com/templates/sostac-marketing-diagram-for-powerpoint/
2.https://www.researchgate.net/publication/315488492_'Jellies_Jaffas'_Applying_PR_Smith's_SOSTAC_Marketing_Model_to_an_Online_Confectionery_Start-Up
3.https://www.researchgate.net/publication/315488492_'Jellies_Jaffas'_Applying_PR_Smith's_SOSTAC_Marketing_Model_to_an_Online_Confectionery_Start-Up
time consuming but effective- great blog Marta!
ReplyDeleteGreat summary at the end Marta!
ReplyDelete