Lead 4300 Examining The Sostac Modeldr Ray Sylvesterteaching ✓ Solved

LEAD 4300 – Examining the S.O.S.T.A.C Model Dr. Ray Sylvester Teaching schedule Week / Date Content tasks Week 1 – 3/11/21 Introduction to ‘Strategic Planning’ Week 2 – 3/18/21 Spring Break Week 3 – 3/25/21 Strategy: What is it? Week 4 – 4/1/21 Introduction to the SOSTAC planning model Week 5 – 4/8/21 Examining the SOSTAC planning model Week 6 – 4/15/21 Resource requirements: 3/4M’s Task 1 Week 7 – 4/22/21 Cases and application of SOSTAC + 3/4M’s Task 2 Week 8 – 4/29/21 Open Study Task 3 Task 1 Submit a 2/3-page paper explaining the extent to which vision, mission and values play a role in your private, physical and professional life. The paper should identify and incorporate examples of successful, unsuccessful and/or potential use and effectiveness of the strategic tools.

Submission: 4/19/26 Task 2 Read, reflect and submit a 2/3-page review related to the following article: Bakir, A., and Todorovic, M. (2010) A Hermeneutic Reading into “What Strategy isâ€: Ambiguous Means-End Relationship. The Qualitative Report Vol.15 No.5 pp. Submission: 4/26/21 Task 3 Submit a 4/6-page paper critically appraising the strategic planning model SOSTAC + 3M's. You can use examples to explain whether you believe it to be an effective planning framework. Submission: 5/3/21 Situation Analysis – Where are we?

Company analysis (Co’s Vision, Mission, Values, resources, sales, mkt. share, profitability) Competitor analysis (Who? [direct/indirect] What? [differences] ) Consumer analysis (Who? What motivates them? [S.T.P] ) - Consumer segments (Profiles) - Business segments (Size, structure, location, key personnel) - Decision making units (Influencers, advisors, deciders, users, buyers, payers) Market analysis (Geo-demographics, perceptual mapping) Product analysis (Does anatomy match consumer profile?) External environment analysis (Tools: PEST, SLEPT, PESTLE, PRESTCOM) Situation Analysis – Where are we? Core competencies (S.W) Competition (T) Customer / consumer (O) O – Objectives (Where do we want to be?) Objectives can be assessed at various business levels, namely, corporate, financial, marketing, marcoms and advertising.

Examples: Corporate : To increase company profits from x% to y% in z years Marketing : To increase market share of product A from x% to y% in z months Marcoms : To increase awareness of product A from x% to y% within z months The objectives should be hierarchically developed (from the corporate level on), maintaining an integrative approach throughout. O – Objectives (Where do we want to be?) SMART SMARRTT (Smith and Zook, 2016) (Pickton & Broderick, 2005) S – Specific S – Specific M - Measurable M – Measurable A – Actionable A – Achievable R – Realistic R – Realistic T – Time specific R – Relevant T – Targeted T – Timed S – Strategy (How do we get there?) What is the overall direction of the business, whether it fulfils/complements overall marketing and corporate positioning strategy?

Inside out or outside in approach? Inside-out orientation: Strategy approach founded upon a production (resource dependent) perspective. Market orientation: Strategy that considers the needs of stakeholders first. It is a determination of an outside-in strategy. Strategy Strategy should adopt a customer (experience) perspective; therefore the nature of the stakeholder is paramount.

Strategy should always adopt a marketing (needs and wants) concept Produce it Market it The Marketing Concept Learn what they want (MR) Customers & Consumers Company Sell what they want by satisfying their needs Strategy Smith and Zook (2016) Acronym of strategy S – Segmentation (Know the market, how is it broken up?) T – Target markets (what market & who is your specific customer) O – Objectives (strategy must fulfil customer-centric and corporate objectives) P – Positioning (where are you & why) & S – Sequence (what is the sequence or series of stages) I – Integration (is there full integration within your proposed strategy) T – Tools (what tools are you going to use) E – Engagement (How do you effectively engage) Strategy Smith and Zook (2020) Acronym of strategy T – Target markets (what market & who is your specific customer) O – Objectives (strategy must fulfil customer-centric and corporate objectives) P – Positioning (where are you & why) Processes – (new processes like CRM or AI) Partnerships – (strategic alliances, co-marketing or marketing marriages can make marketing more cost effective) & S – Sequence (what is the sequence or series of stages) E – Experience (does the strategy support the right customer experience?

E – Engagement (How do you effectively engage) D – Data (can data be used to add value, or target new customers? Could overlap with processes) Opportunity! T – Tactics (The details of the strategy) Tactics are the details and tools of the strategy. They list what happens, when and for how much. It can often be expressed as a gantt chart or a similar visual depiction Jan Feb Mar xxx xxx xxx xxx xxx Strategy and tactical planning Planning not the same as strategy: Strategy is the direction, approach and implementation of an organisation’s desired marcom objectives.

Tactical planning is the formalisation of the strategy, into a manageable sequence of activities that are linked, coherent and capable of being implemented in the light of the resources available. A – Action (Implementation – putting the plans to work) The action stage reveals the details of ‘tactics’ Detailed project plans are required in order to implement the tactics. This is the operational end of strategic planning, requiring; attention to detail, good project planning skills, time management, prioritizing, people management skills, an ability to handle pressure and get things done. Week 1 Week 2 Week 3 X X X X X C – Control (Measurement, monitoring, reviewing and modifying) A plan should identify how it will be monitored and controlled.

One needs to know at an early stage how a plan is working out. Control systems need to be in place to help monitor all activities This is where clear objectives can help, since they can be broken down into more detailed objectives covering shorter periods of time. Quantified objectives State each quantified objective and its time period Means of measuring Sales analysis; no. of responses; surveys Frequency of measurement Daily; weekly; monthly; quarterly; Annually? Accountability Who does it? Cost How much does it cost to measure?

Action? Who needs to be alerted if significant variances are found? SOSTAC Other planning perspectives: Cooper (1997) ) In Pickton and Broderick (2005) proposes a six stage planning cycle; Familiarise (Background research) Hypothesise (Review and define strategic options) Synthesise and inspire (Agree the strategic course for product) Optimise (Research creative ideas, deal with weak links) Evaluate (Pre-testing) Review (Assessment of results, in terms of sales, awareness & image) Another planning perspective: Marcoms planning framework (MCPF) Context analysis Communication goals Communication strategy Communication mix Implementation, control & evaluation Scheduling Resources Agencies Market research Tools Media Content Corporate goals Marketing goals Communication goals Adapted from: Fill and Turnbull (2016) Bibliography:

Paper for above instructions

Title: Strategic Planning Through the SOSTAC Model: A Comprehensive Analysis
Introduction
The SOSTAC model, devised by PR Smith in the 1990s, stands as a critical framework for strategic marketing planning. It embodies six key components: Situation Analysis, Objectives, Strategy, Tactics, Action, and Control. This comprehensive model enables organizations to develop systematic marketing strategies by assessing their current position, defining their goals, devising actionable strategies, executing theplans, and continuously monitoring their performance. This paper will critically appraise the SOSTAC model alongside the 3M’s (Market, Message, Messenger) and provide relevant examples to analyze its effectiveness as a planning framework in diverse environments.
1. SOSTAC Model Components
1.1 Situation Analysis
The Situation Analysis (S) component refers to understanding the current market position through various assessments, including SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis, PESTLE (Political, Economic, Social, Technological, Legal, Environmental) analysis, and competitive assessment. This analysis is anchored in understanding the company's vision, mission, values, resources, and market share. An example of effective situation analysis can be found in Apple Inc.'s market dominance, where it constantly evaluates its strengths (branding and innovation) while addressing competition from firms like Samsung and Huawei (Kotler & Keller, 2016).
1.2 Objectives
Objectives (O) refer to what the organization aims to achieve. Utilizing SMART criteria—Specific, Measurable, Achievable, Relevant, and Time-bound—ensures that all objectives align with the broader company vision. For instance, Coca-Cola’s objective to enhance its market share in the non-sugar beverage segment exemplifies an effective goal—“to increase market share by 15% over the next two years” is both specific and measurable (Smith & Zook, 2016).
1.3 Strategy
The Strategy (S) component defines how the organization will achieve set objectives. This could entail identifying target markets and positioning strategies. Nike's strategy of focusing on consumer experience and personal engagement through community initiatives demonstrates a successful alignment of branding and customer connection (Moorman, 2018).
1.4 Tactics
Tactics (T) represent the details or the action steps required for implementing the strategy. Businesses can apply various tools for tactical planning, such as digital marketing or public relations. For example, L'Oréal leverages social media platforms to reach younger demographics, customizing their messaging to align with the audience (Aaker, 2018).
1.5 Action
The Action (A) phase involves implementing the tactics and ensuring that teams are equipped to execute the strategies in the specified timeframe. This could range from assigning team members roles to adopting new processes for the marketing campaign. An example includes Starbucks, which employs rigorous project management strategies to ensure timely rollout for its seasonal beverages (Roper, 2021).
1.6 Control
Control (C) involves measuring the performance of the campaigns, adjusting inefficacies, and ensuring accountability. For instance, Google Analytics provides insights into user engagement and ROI, enabling businesses to analyze their marketing efforts continuously (Chaffey, 2020).
2. The 3M’s Framework
Alongside SOSTAC, incorporating the 3M’s (Market, Message, Messenger) provides deeper insights into strategy development.
2.1 Market
Understanding the market involves segmenting the audience and identifying specific customer needs. Amazon exemplifies an organization adept at market analysis, tailoring its offerings based on varied consumer preferences (Smith & Zook, 2016).
2.2 Message
This focuses on the communication content directing customer engagement. Brands like Dove effectively convey messages of self-esteem and authenticity, aligning their brand values with consumer sentiment (Miller, 2019).
2.3 Messenger
The Messenger concept emphasizes selecting the right platforms or influencers for message delivery. Celebrity endorsements by brands like Puma successfully drive brand awareness and enhance credibility, demonstrating the effectiveness of the right messenger for engagement (Kotler & Keller, 2016).
3. Effectiveness of the SOSTAC Model
The application of the SOSTAC model and the 3M's framework has proved effective in diverse settings. Companies like McDonald’s use the model to formulate localized strategies bolstered by data-driven decision-making, completed with continual case evaluations of their campaigns over the years (Pickton & Broderick, 2005). This approach not only accommodates flexibility but also enhances responsiveness to market changes.
Despite its strengths, critics argue that the SOSTAC model can be overly linear and may not cater to the fast-paced nature of modern digital marketing (Fill & Turnbull, 2016). Organizations need to integrate agile planning elements as market dynamics evolve. Nonetheless, the model remains relevant, especially when supplemented with broader strategic frameworks and contemporary digital tools (Roper, 2021).
Conclusion
The SOSTAC model, when systematically implemented with components of the 3Ms, forms a robust strategic framework for organizations. Through continuous Evaluation and real-time adjustments, it ensures businesses not only achieve their objectives but also cultivate deeper connections with their consumers. As organizations navigate through intricate market landscapes, the SOSTAC model serves as an essential blueprint for fostering strategic growth and sustained competitive advantage.
References
1. Aaker, D. A. (2018). Strategic Market Management. Wiley.
2. Bakir, A., & Todorovic, M. (2010). A Hermeneutic Reading into “What Strategy is”: Ambiguous Means-End Relationship. The Qualitative Report, 15(5), 1395-1411.
3. Chaffey, D. (2020). Digital Marketing: Strategy, Implementation, and Practice. Pearson UK.
4. Fill, C., & Turnbull, S. (2016). Marketing Communications: Brands, Experiences, and Participation. Pearson Education.
5. Kotler, P., & Keller, K. L. (2016). Marketing Management. Pearson.
6. Miller, K. B. (2019). The Evolution of Brand Messaging: Social Media's Role in Shaping Modern Messaging. Journal of Brand Management.
7. Moorman, C. (2018). Marketing's Role in Business Strategy. Journal of Marketing.
8. Pickton, D. W., & Broderick, A. J. (2005). Integrated Marketing Communications. Prentice Hall.
9. Roper, S. (2021). Marketing Strategy: A Decision-Focused Approach. Sage Publications.
10. Smith, P. R., & Zook, Z. (2016). Marketing Communications: Offline and Online Integration, Engagement and Analytics. Kogan Page Publishers.