Marketing Plan for British Airways using SOSTAC Model

This report discusses the marketing plan for British Airways using the SOSTAC model. It includes a SWOT analysis, STP analysis, marketing budget, tactics, and actions.

Principles of
Marketing

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Marketing Plan.............................................................................................................................1
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Marketing plan is considered as an operational document which represents an advertising
tactics that a firm would execute for generating as well as reaching their targeted marketplace.
Moreover, this is essential for entity as it is a roadmap which is helpful to introduce and deliver
their commodities or service to potential clients (McDermott and et. al., 2021). For this report,
the undertaken company is British Airways which is a leading airline firm across United
Kingdom in respect of its fleet duration and global vacation spot flights. The aim of this report is
to formulate a marketing plan.
MAIN BODY
Marketing Plan
Marketing plan is undertaken as a roadmap this is beneficial to introduce and supply their
commodities or provider to ability customers. In understand of British Airways, they plan to
introduce tour packages for his or her customers. So, they formulate marketing plan with help of
SOSTAC Model.
SOSTAC model
Particular framework is developed by P. R. Smith just so massive branch of entity may
additionally moreover able to increase advertising and marketing technique. Within British
Airways, they will implement this tool to recognition upon development of precise strategies and
techniques in regards to digital advertising and formulating common advertising and advertising
and marketing plan for employer. The description of implementation of respective elements is
mentioned underneath:
Situation
Under it, efficient state of affairs looks at development that takes vicinity. For instance,
each out of doors in addition to internal enterprise environment of organization is analyzed. Also,
for this British Airways ought to apply SWOT evaluation is defined below:
SWOT analysis
This is assumed as strategic method in addition to technique which is utilized thru
enterprise for comparing internal and external factors of firm that could impact upon company
(Кулик, 2020). In addition to this, it is able to be gadget of decisive the strengths, weakness,
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possibilities and threats of business. SWOT evaluation of respective business enterprise is
described under
Strengths:
 British Airways has a enormous brand presence and compelling worldwide presence
(Anker, 2020). It has a caravan length of extra than 260 airplanes and has proper around
one hundred fifty international regions transversely 6 mainland’s.
 The specific affiliation has assorted administrations like change or pinnacle of the road,
loosen up, in flight diversion, reliability programs and so forth alongside this, it has
excellent showcasing and aid of the aircrafts across the world.
Weaknesses:
 Over reliance in UK marketplace is one of the shortcomings of this employer. Over half
of of earnings of it comes from UK business centre that offers off an influence of being
acceptable great yet thinking about the risk in the globalized economic system possible’t
gain risk of getting marketplace nearsightedness.
 Several contenders from different coordinating aircrafts on all guides are another
shortcomings and high competition states restricted piece of the pie for BA.
Opportunities:
 Making extension in its global sports to extra current domains and districts is a efficient
improvement choice that may be incorporated by using British Airways.
 The Heathrow Terminal is a key has internationally and British Airways has a crucial
patience here. Furthermore, collusions and code offering to other international aircrafts
can similarly broaden commercial enterprise of British Airways.
Threats:
 Government guiding principle is fundamental chance to this enterprise as service industry
is profoundly managed so minor modifications in unofficial laws and enactments sway
the matter of British Airways (Baimbetova and et. al., 2020). In gift time, purpose for
COVID pandemic exclusive type of modifications came about associated with wellness
and security that impact the problem of the employer
 Maximizing gas price and paintings expenses can lessen the advantage of British Airways
in bad structure.
Objectives
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 To enhance company's revenue with the aid of 10% within a 365 days.
 To maximize the business enterprise income by way of five % in 10 months.
STP analysis: This considers segmentation, targeting and positioning of customers based upon
the products as well as its expectation (Lyeonov and et. al., 2021). Additionally, the effectiveness
of respective technique in respect of British Airways is as follows:
Segmentation: In this, business enterprise’s alternate would reputation at segmentation as
properly category cross market into first rate components collectively with geographic,
behavioral, demographic segments for handling it respective entity could likely widely known
place to facilitate Holiday applications. Upon this concept, market may be categorized into step
with products similarly to thinking about customers.
Targeting: Under it, the management of British Airways can emerge as mindful of its
centered and suitable customers in fragmenting terms that’re showing their interest in taking the
pay of its items and offices. For its Holiday bundle bargain item, it could aim male and lady, its
everyday client, children, organization task man or woman, these days wedded couple and so
forth
Positioning: In it, the manager of the association can set its new produced the use of
Holiday agency the usage of internet-based totally absolutely media channels, TV and others
because it make globalize high-quality business employer and advancement (Havidz and
Mahaputra, 2020). Alongside this, it could give slice price and espresso presents for its
designated clients with regard to its currently dispatched item.
Marketing Budget
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Tactics: Within British Airways, their control might also utilise as well as located in
powerful strategies for obtaining organization goals and desires. Moreover, with implementation
of diverse tactics, entity can also additionally aware with their services (McDermott and et. al.,
2021). For instance, respective entity for awarding their centered customers approximately its
new product they could undertake numerous tools and channels that carries social media
vending, newspaper and others.
Actions: Within particular organisation, their management determined severa
accountabilities to various frame of workers for developed dreams may be carried out into
stipulated time period.
Control: It is taken into consideration as final elements. Within it respective firm may
additionally control have manage upon non needed approaches, and moves of business enterprise
(Кулик, 2020). Also, they may have a look at each plans similarly to technique which can be
associated with them in understand of commercial organisation growth with help of recent
product this is Holiday Packages Aare powerful or now not.
CONCLUSION
As consistent with the above record, it's been concluded that advertising plan is vital for all
entity to satisfy their desires as it's miles a roadmap that is beneficial to introduce and deliver
their commodities or employer to capacity clients.
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REFERENCES
Books & Journals
McDermott, M. and et. al., 2021. IMPROVING MASTERY OF PRINCIPLES OF
MARKETING CONCEPTS THROUGH INTERDISCIPLINARY LEARNING AND
INTEGRATED BUSINESS PROJECTS. Marketing Education Review, pp.1-7.
Кулик, В.А., 2020. The need to use marketing in large production companies of the Republic of
Belarus.
Anker, T., 2020. Autonomy as license to operate: Establishing the internal and external
conditions of informed choice in marketing. Marketing Theory, 20(4), pp.527-545.
Baimbetova, A. and et. al., 2020. Conducting marketing research of new products of the
company. In E3S Web of Conferences (Vol. 159, p. 03001). EDP Sciences.
Lyeonov, S. and et. al., 2021. Green brand as a marketing instrument: principle, features and
parameters. International Journal of Global Energy Issues, 43(2-3), pp.147-165.
Havidz, H.B.H. and Mahaputra, M.R., 2020. BRAND IMAGE AND PURCHASING
DECISION: ANALYSIS OF PRICE PERCEPTION AND PROMOTION (LITERATURE
REVIEW OF MARKETING MANAGEMENT). Dinasti International Journal of Economics,
Finance & Accounting, 1(4), pp.727-741.
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