Analysis of Marketing Concepts and Models

The provided document offers an in-depth examination of marketing concepts and models, featuring a range of sources from academic journals to online resources. The document explores key marketing theories, such as the SOSTAC model and RACE model, providing visual representations (illustrations) to support the explanations. It also delves into the strategic planning process, incorporating frameworks like Porter's 5-Forces, Diamond, PESTEL, and SWOT Analysis. The sources are primarily from the 2010s, with some online resources dating back to 2012. This analysis is likely intended for students of marketing or business studies.

Marketing
Management

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................2
1. Applying the SOSTAC planning model in order critically appraise the practicability of Spy
chaser who is creating a marketing strategy for promoting their mobile application ................2
TASK 2............................................................................................................................................6
2. Applying RACE marketing model to in order to identify best online communication
strategy for Spy chaser ...............................................................................................................6
TASK 3..........................................................................................................................................10
3. Application OF AIDAR model in order to analyse current state of behaviour which is likely
to impact future behaviour and future sales forecast of new mobile application......................10
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Marketing management refers to the organisational study which emphasizes on
functional approach of using marketing methods, strategies and procedures within business unit.
In other words, marketing management include various activities such as planning, setting
marketing objectives, organising, coordinating, directing, implementing, controlling and
promoting marketing to distribute goods as well as services in order to meet enterprise
objectives. (Bahadir, Bharadwaj and Srivastava, 2015.).
The Spy-chaser organisation is being selected in order to assist firm in its marketing
management process. Spy-chaser Ltd is a developer of local smartphone applications, located at
Ghana. The company is being chosen for this project as they are planning to promote their
innovative product i.e. simple phone application that can be used in small to large organisations.
The Spy-Chaser Ltd wants to get benefit of various government policies.
This project aims at providing consultancy to Spy Chaser Ltd in order to help firm to
create successful marketing campaign.
TASK 1
1. Applying the SOSTAC planning model in order critically appraise practicability of Spy chaser
who is creating a marketing strategy for promoting their mobile application
SOSTAC planning model is very famous and effective business and marketing planning
framework. This hypothesis enables organisation to develop overall or digital marketing plan. It
assists business entity in enhancing individual plan of action (Creating marketing magic using
SOSTAC model, 2012) SOSTAC planning model includes various activities such as situation
analysis, setting purpose, formulating marketing strategies, determining plan of action,
implementing and controlling marketing activities. (Barrettand Weinstein, 2015).
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Situation analysis-The situation analysis is conducted in order to obtain overview about Spy
Chaser Ltd., that includes identifying company’s position in the market, performance, influence
of marketing activities and online trade process on consumers, analysing the impact of various
internal and external factors on enterprise marketing decisions (Chen and et.al., 2015) There are
some methods which can be used for identifying the practical approach of this method -
Digital customer- This include identifying the digital audience. This is very important to analyse
customers in order to ensure whether Spy Chaser Ltd. is delivering right products to right
consumers and ensuring that they are fulfilling the demand of their clients or not. If Spy Chaser
Ltd. company is operating in competitive environment it is required by them to focus on creating
such strategy that helps enterprise in differentiating their services from their competitor’s and
increasing their online value proposition.
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Illustration 1: Sostac Model
(Source: Creating marketing magic using SOSTAC model, 2012)

Emphasising on Customer Role- Focusing on customer role provides opportunity to Spy-Chaser
Ltd to identifying existing users of mobile application and analysing the features of product that
has encouraged them to buy particular mobile app. This method also assist company in
determining their customers profiles. All data related to clients can be obtained from
organisational customer relationship management system (Homburg, Jozi and Kuehnl,2015)
This activity will further help firm in formulating the profile picture of their existing mobile app
users. The following information can be collected by using CRM system which include male
female, age, geographical details of consumers, purchase history, frequency, brand loyalty. Etc.
For instance, James is 26 years old professional, residing in South Africa is online
ordering a mobile application and engaged in social media in order to get latest notifications and
news related to launch of new mobile gaming apps. (Pavlou and Stewart, 2015)
SWOT Analysis-Swot analysis plays significant role in formulating and implementing market
plan. It enables Spy-chaser organisation to develop strategy based on current market situation.
These techniques help enterprise in identifying their strengths that can be used for gaining
competitive strength. Also, this method assists Spy chaser in analysing and capturing various
opportunities to develop effective market plan. (Kubacki and et.al., 2015.)
Spy-chaser organisation Strengths
 Low cost leader: Good
relationship with their
suppliers
 Attractive banner used by
Spy chaser
 Its navigation approach
that assists its client in
searching for specific
product.
Weaknesses
 Slow response to
customer problems and
issues.
 Poor mobile
improvement apps.
 Subscription takes long
time to progress.
 Text contain in app is
difficult to read.
Opportunities
App speed of loading.
Increasing use of social
media.
SO Strategies
Using strength as an advantage
in order to generate more
opportunities.
WO strategies
Enhancing and focussing on
strength in order to explore
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 Irreproducible app
function.
 It provides
opportunity to spy-
chaser to retain its
clients and attract
new consumers.
 Opportunity to
explore new market
 To introduce
innovative apps.
more opportunities.
Threat
 Threat of new entry.
 Increase in
competition.
 Online shopping is
more preferred by
consumers.
ST strategies
Using internal capabilities to
reduce threats.
WT strategies
Developing capabilities in
order to reduce risks and
overcoming weaknesses.
Establishing Smart goals and interrelating them to Spy chaser control procedure
Digital marketing process is measurable it makes cognizance to be specific as possible
about their goals by formulating funnel conversion model. (Anton, 2015.) It is required by
organisation(Spy Chaser) to frame SMART goals in order to meet their marketing goals and
objectives in effective manner. These targets help firm in fulfilling their 5’s objectives. The 5 S
objectives include -
Sell-This consist of selling products to target consumers at right place and at correct time.
Serving -It includes ensuring that Spy Chaser’s products and services are providing satisfaction
to their clients.
Sizzle- This include manufacture of product in such a manner that they generate value for
customers.
Speak-This include the way company is interacting and communicating with their clients.
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Saving-It include determining the enterprise efficiency and gains obtained by performing
various task. (Kumar, 2016.)
Integrating different elements of company Swot
Lack on interrelationship between goals, plans and action is a major issued faced by Spy
Chaser organisation in reassessing their online marketing strategies.
Objectives Substantiation Strategies to achieve
objectives and goals
Spy chaser (critical
success factor)
Objectives: To
increase 50000 new
online clients within
particular financial
year at an average cost
per acquisition of 40
dollars with an
average of 10 percent
profit
To increase sale by 25
percent using growth
affiliate programmes.
Focusing on marketing
programmes. Effective
use of technology for
formulating effective
market plan.
Increasing Use various
marketing channel.
Overall cost per
acquisition increased
and the company has
been ranked at top
position on the basis of
its sales.
TASK 2
2. Applying RACE marketing model to in order to identify the best online communication
strategy for Spy chaser
Race is a planning model that aims at developing a customised and creating strategic
concept in order to fulfil unique requirement by enterprise. Race model includes linear process
that include various activities such as research, analysis, communication and evaluation
This model has been designed in order to assist organisation in marketing planning
process and managing their activities in systematic manner. According to the race model
developing digital marketing strategy requites various resources such as:
 Excel spreadsheet in order to conduct audit to analyse various improvement areas in
online marketing process.
 Word and power point templates for Spy Chaser to develop their own plan.
 Identifying various business plans as to get practical experience.
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 Guidance for building an incorporated inline marketing strategy.
 Determination of various effective marketing techniques. (Loe and Ferrell, 2015).
Best online communication Strategies:
Reach
Cognizance and proximity
Action and converts
Connect and Grow
Engage
Leads and customer
Online advertising
social media marketing
Transformation Rate
improvement
Contented marketing blogs,
publishing advertisement
Interactive and Fusion
marketing
e-commerce and other
programmes
Videos, presentation,
interactive media
Building relationship with
media
Structured page improvement Online publishing of
Newsletter and marketing
campaign
Experience base marketing Testing mobile application,
mapping the apps,
reconstructing various mobile
applications
Mobile plus social
communication.
The above chart has presented the way organisation has transformed smart strategy into
measurable tactics.
 ‘R’ stands for reaching target audience by using blogs, social media, search engines etc.
This is also referred to as inbound marketing strategy. This strategy aims at using
various techniques such as smart engine optimisation, social media marketing,
enhancing public relation and focusing on exploring market. Adopting press release and
paid campaign method for marketing innovative mobile applications.
 ‘A’ stands act for implementing strategy using website and other communicative tools
with
Smart forms
Improvement in customer relationship management
Enhancing sales process.
Adopting email and drip marketing techniques.
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Publishing online newsletters.
 ‘C’ stand for converting plans into actions that leads to increment in sales. The effective
race marketing strategy may have dramatic impact on transformation rate. This includes:
Testing various mobile applications.
Improvement in conversion rate that can be done by conducting various practices for all mobile
application.
Tracking successful conducting various internal and external audits.
 ‘E’ stands for engaging in all practices using content marketing in order to generating
client’s loyalty and enhancing relationship with public. (McDonald, M.A.L.C.O.L.M.,
2016)
 The main objective of this strategy is to focus on interacting and communicating with
mobile application users in fascinating way that assist organisation in targeting consumer
emotion. For these various techniques used are as follows: -
 Adopting blog marketing technique
 Video marketing platform
 Newsletters
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Small stories on websites.
Objectives of Race model
Various objectives of race process strategy are:
 It assists organisation in developing businesses
 It provides opportunity to enterprise to reach target audiences and encourage them to
purchase Spy chaser mobile applications
 It enables firm to become market leader.
 It helps in improving transformation rate and constructing pages that facilitate conversion
process.
 It encourages organisation to grow its core business.
Race model process:
Planning-The initial stage of race framework is planning. This include further three activities
such as conducting situational analysis, establishing various marketing objectives, and framing
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Illustration 2: RACE model
(Source: Digital marketing Analytics, 2013)

strategy. The first process includes facilitating SWOT analysis of the enterprise and identifying
macro environmental factors that could have direct impact on business operations. The next
activity includes setting goals that are to be achieved by implementing marketing strategy.
Reach-This process include encouraging audience to reach organisation in order to purchase
mobile application that are offered by firm.
Conversion stage-This activity include transforming interested consumers to paying client.
Engaging stage-This includes the way organisation develop relationship with its consumers.
This stage is vital as it helps business entity in retaining their customers and to achieve repeated
sales which will further assist enterprise in enhancing profitability and growth (Pels, 2015)
Determining various factors spy-chaser should rely on in order to ensure successful
positioning of their products.
A positioning strategy is an intended branding plan that aims at operating on symbolic
level of customer awareness. Marketing positioning strategy is based on concept of product
differentiation, and similarity in integrated brand. It is the long-term initiative taken by Spy
Chaser to change integrity and image of firm. It aims at creating value for enterprise’s products
and services (Meaning and function of marketing management, 2010) There are various factors
that are required to be considered by Spy chaser in order to ensure successful positioning of their
product which are:
 Product and brand Attributes-It includes the benefit provided by goods and services
to consumers. It focuses on analysing advantages delivered by brand to various clients.
 Consumers expectation: It includes expectation of clients.
 Competitors attitude: It includes identifying other similar products that are offered by
competitors in the market. It is essential for Spy-Chaser to developed innovative product
in order to differentiate their products and services from that of their competitors
(Salavati and Karami, 2015)
 Price- the company can use low pricing strategy to attract more numbers of consumers
and this will also assist organisation in retaining its existing mobile application users.
 Consumers perception: Imbibing the image of organisation’s product in minds of
consumers. It includes evaluating the effectiveness of brand and products, ensuring no
cheap solutions are being offered by brand, product is adding value to clients, low price
and high benefit.
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It is required by Spy chaser enterprise to analyse current market situation and identify
whether their product are applicable to prevailing market conditions and determining current
position of their brand. If in case product is not applicable in current market situation then it is
essential for firm to take necessary actions based on identified gaps. These gaps can be
determined by considering above mention factors (Wright, 2016)
TASK 3
3. Application OF AIDAR model in order to analyse current state of behaviour which is likely to
impact on future behaviour and future sales forecast of new mobile application
` AIDAR model is the classical marketing framework. In AIDAR, ‘A’ stand for
awareness, ‘I’ for interest, ‘D’ desire, ‘A’ for action. The AIDAR model aims at determining
cognitive stages through which every individual pass during purchasing of products and
services. AIDAR can be considered as communication framework rather than decision making
structure. This framework helps Spy Chaser enterprise in determining the way and time for
making communication at each stage, as consumer will be using various platforms, engaging in
various activities and behaving rationally at different level of process. This concept considered
that different information is required by client at various level of stages. So, by using Aida
model spy chaser Ltd can make and target communication campaign.
Awareness- It includes generating brand and product awareness. Spreading awareness related to
Spy chaser mobile application can assist organisation in enhancing its sales and increasing its
market share. It can provide an opportunity to form in order to enhance its brand image and to
developed positive perception about company products and services. This process also have
positive impact on the launch of new product in the market. It helps in reducing the risk
associated with introduction of innovative product and it also ensures that the new product are
acceptable by consumers in the market. (Grünig and Kühn, 2015).
To generate awareness related to product and brand the Spy-Chaser Ltd. can conduct
campaigns, few months before launching new mobile app.
Interest- creating interest for mobile application in minds of consumers by presenting various
benefits that client can draw by using particular app. BY launching innovative products or by
introducing differentiate characteristics in its products spy chaser Ltd. Can encourage audience
to buy their products and services, promoting awards etc. Developing interest in mind of
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consumers assist Spy-chaser organising in attracting more number of consumer and in enhancing
their profitability.
It is required by firm to execute a direct mail campaign as this is easy and effective way
to reach wide numbers of consumers and it also provides opportunity to enterprise to explore
markets. They can also promote their mobile app by providing free trial of mobile application to
consumers. This will enable their client to gain practical experience of buying practical mobile
application. This method will assist spy chaser Ltd in gaining customer loyalty and enables firm
to retain ling term relationship with their existing clients. This method provide assessment to
enterprise to encourage repeated sales. (Anton., 2015).
Desire-It includes developing emotional connection in order to present organisational brand
personality. It refers to transforming consumer desire into wants. This process includes
encouraging audience to transform their desire into their need. This will provide Spy Chaser an
opportunity to increase future demand for their product and enhancing their profitability margins
which will further lead to organisation’s growth and success.
This process can be conducted by Spy Chaser by using various advertisement methods
such as advertisement through local press, social media, search engines, websites, etc. This
method motivates local audiences to convert their interest into their wants. This procedure is
based on the concept that people always wait for invites and they are always being exited to give
response to launch of new product in market.
Actions- It includes developing platform in order to facilitate affective communication between
organisation and its clients. This process includes encouraging audience to interact with spy-
chaser enterprise and motivating them to conduct various activities such as downloading
company’s brochure, installing apps, join newsletter, or their engagement in live chat etc.
Various mobiles apps were positioned at various social sites such as Facebook, websites and
various advertising methods were being conducted, various offers were formulated, free trials of
app were given, discounting methods were adopted by Spy chaser in order to promote their new
mobile app.
Reorder-the buying cycle emphasizes on gaining customer loyalty. The organisation must have
focus on current consumers in order to fulfil their demand.
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There are still some other methods that can be used by firm for gaining loyalty such as
signing up to mailing list, signing into social media sites that that present news related to various
offers, discounts on various mobile application, etc. (Grünig and Kühn, 2015)
CONCLUSION
The study has successfully conducted the evaluation process and concluded practical
approach of Spy Chaser Ltd in formulating marketing plan for launching their new mobile
application.
The report has explained various strategies and concluded various factors that require
special consideration while formulating marketing plan.
The assignment has explained the AIDAR model. This model has been used in order to
state the way current state of consumer behaviour is likely to affect future behaviour and have
impact on organisational sale of new product.
Various strategies have been suggested in this assignment in order to assist Spy chaser in
managing their marketing activities. Various factors are being recommended by report that
require special consideration by firm in order to formulate effective marketing plan.
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REFERENCES
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