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Asda SOSTAC Report : Assignment

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Added on  2020-10-05

Asda SOSTAC Report : Assignment

   Added on 2020-10-05

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Asda SOSTAC Report
Asda SOSTAC Report : Assignment_1
TABLE OF CONTENTSINTRODUCTION ..........................................................................................................................3TASK 1............................................................................................................................................31. SOSTAC Model .....................................................................................................................3TASK 2............................................................................................................................................9Measuring the effectiveness of Asda SOSTAC strategy currently utilised in UK market ........9Determining whether the marketing strategy utilised by ASDA can be implemented in theInternational market .................................................................................................................10CONCLUSION .............................................................................................................................11REFERENCES..............................................................................................................................12
Asda SOSTAC Report : Assignment_2
INTRODUCTION Marketing is considered to be as an important business activity. The main purpose ofmarketing activity is to promote business. Marketing can be defined as a procedure whichincludes promoting business and selling goods. It helps an organisation in increasing sales andprofitability. Marketing is considered to be as a procedure through which products as well asservices moves from company to customers. It is the activity which is mainly concerned withadvertisement, distribution and selling of goods or services. Marketing is very much importantactivity for those firm who are planning to expand business in internal market.The report will include SOSTAC model which has been used in order to identify themarketing strategy adopted by ASDA for expanding business in India. ASDA is basically aBritish Multinational company operating business in retail sector. Study will emphasizes onanalysing the effect of changes in environmental factors on business operations of anorganisation. TASK 11. SOSTAC Model SOSTAC is basically a marketing model. The full form of SOSTAC is Smith sixfundamental facets of marketing. Different elements of SOSTAC are situation, objectives,strategy, tactics, actions and control. SOSTAC consist of general marketing strategy. It isrequired by marketing manager in Asda to use SOSTAC model, as it will assist them in makingan effective preparation for marketing campaign. The SOSTAC model mainly emphasizes on theimplementation of marketing strategy as well as communication. SOSTAC model will providemarketing manager in taking the best decisions related to the marketing strategy as well astactics. It will also support manager in development of an effective promotional plan. SOSTACmarketing plan for Tesco (Nes,2018).Situation : Situational analysis mainly includes determining internal as well as externalenvironment in which form operates. It is very much crucial for marketing manager in Asda toconduct the situational analysis, as this tactic will assist them in addressing those variables whichcan have effect on the strategic options as well as plan of company. Situational analysis is also very much helpful in identifying the current situation of theorganisation. In context of ASDA, an organisation is among the second largest supermarketchain in retail industry of Britain. The promotional plan of an organisation is mainly based on
Asda SOSTAC Report : Assignment_3
price. Swot analysis is considered to be as an effective tool which can be utilised for analysingthe strength, weakness, threat and opportunities of Asda.Strength : In context of Asda, an organisationoffers wide range of goods andservices.Business entity has organised effectivemarketing campaign which demonstratetheir services. Marketing manager in Asda utilisessocial media for interacting directlywith customers.An organisation has developedcorporate social responsibility strategyand has implemented the same whichhas supported business entity in gainingthe customer loyalty.ASDA has team of highly skilled andtalented workforce to support firm inaccomplishing desired marketing andbusiness objectives.Through Acquisition strategy Asda hasstrengthened its brand.Firm also provides Online services tocustomers.Business entity has strong cash flow. An organisation has made huge capitalinvestment in building strong bradPortfolio. Weakness:The biggest weakness of Asda is that anorganisation has presence in only fewcountries.Potential of an enterprise to set pricehas limited their entry in othercountries.High employee turnover rate hasadverse effect on the businessperformance of ASDA.An organisation is still using thetraditional technology for performingits business operations.Business entity makes lees capitalinvestment on the research as comparedto other companies.
Asda SOSTAC Report : Assignment_4

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