SOSTAC PLAN

Principles and Practices of Marketing – Presentation Tips

Marketing Power Point Presentation – 6 minutes

The assignment requires you to work in a group of three to design and present a SOSTAC plan (marketing plan) to move Primark business to Romania.Primark has a business model that can be replicated around the world. As part of its expansion plan in Central and Eastern Europe Primark will enter in the Romanian market by the end of 2022.

Objectives (presented by consultant one)

  1. To open four branches in Romania’s four largest cities: Bucharest, Cluj-Napoca, Timisoara and Iasi by the end of 2025.
  2. To achieve sales revenue of $15m by the end of 2024, via the usage of innovative marketing and technology solutions.
  3. To achieve a market share of 2% in Romania by the end of 2025.
  4. To increase physical store and online brand attachment by the end of the second trimester of 2023.
  5. To increase the number of customers with a minimum of 10% by the end of 2023.

The strategies used by Primark to enter in the Romanian market from part two should be based on the objectives presented by the consultant one. (I will be the consultant number two!)

Task two, for consultant two:

S Strategies: Outline the strategies you recommend to fulfill the objectives set. Consider- Porters Generic – cost/ differentiation/ focus, market entry mode, Pricing and positioning strategies.

T Tactics: PRODUCT – product life cycle/ Boston matrix, product portfolio. PRICE– price elastic/ inelastic, penetration/ skimming/ neutral. PLACE – distribution, location, in store Vs. on line. PROMOTION – which of the nine tools will you use? Be specific on the channels/ mediums you will use, and why they would be relevant.

Present a summary of how/ if you will use Standardisation, Adaptation and Glocalisation for each of the P’s covered. Provide examples of how each P would look in the new country and explain the rationale/ thinking behind the decisions. Strong ones will be linked to the PEST findings. Maybe use a table, as follows:

  Standardisation Adaptation Glocalisation
Product      
Price      
Place      
Promotion      

 

Part two of the presentation should contain the following:

  1. Market entry strategies of Primark in Romania (Five Modes of Entry into Foreign Markets / Waterfall vs. Shower Approach)
  2. Corporate strategies – (Porter’s generic model)
  3. Hollensen’s Glocal Model
  4. Marketing Mix table (see the table above)

 

Entry Strategy

 In SOSTAC the strategy outlines how objectives will be achieved (how do you get there?).

They may include strategies concerning:

  • Growth/ consolidation
  • Pricing
  • Positioning
  • Product extension
  • Technology and innovation
  • Customer experience
  • Corporate finance

 

International Market Entry Strategies 

In designing their strategy firms have to answer two underlying questions:

  • Will they enter markets incrementally (the waterfall approach) or simultaneously (the shower approach)?
  • Will entry be concentrated or diversified across international markets?