Developing a Marketing Plan for Marks and Spencer using SOSTAC Model

This report discusses the development of a marketing plan for Marks and Spencer using the SOSTAC model. It covers the meaning of SOSTAC model, objectives, strategy, tactics, and more. The objective of this marketing plan is to introduce a new product line of electronic goods through social media marketing campaigns. The report also includes a SWOT analysis and a breakdown of the 4Ps of marketing.

Marketing plan

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................3
Meaning of SOSTAC model :-...................................................................................................3
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Marketing plan may be defined as an advertising strategy which have been implemented
by the business organisation to sell its goods and services in the competitive market(Chernev,
2020). With the help of this marketing plan an organisation can effectively determined who the
target market is, how to reach them, what pricing strategy should have to be follow and how to
measure the company efforts. The following report is based on the Marks and Spencer which is a
well known brand of UK. This report develop a marketing plan with the help of using SOSTAC
model with an intention to introduced electronics product in the market through social media
marketing.
TASK
Meaning of SOSTAC model :-
SOSTAC model is basically a digital marketing planning model which was developed by
PR Smith in 1990. This model is being considered as one of the most developed and effective
digital marketing model in the today's world's. The elements of SOSTAC model in context to the
Marks and Spencer has been discussed below :-
Summary :- this is being considered as first plan of the marketing plan in which company is
going to focus on introducing new product in the market(Pranata and Amaranti, 2021).
Organisation first have to understand that who they are, what they are doing and how with
analysing all the internal as well as external factor which impact on the business. In context to
the Marks and Spencer, the company is going to launch electronics goods like TV, air
conditioners, home theatres, refrigerators and many more through social media marketing as a
part of their strategy.
Objectives :- the objective of this marketing plan is to introduced a new product line which is
electronic goods through the use of social media marketing campaigns. For this 5S model has
been used by the company which help in describing the benefits of the objectives experience by
the M&S.
 Sell:- the online sales of the M&S can be increases by diversification into a new product
line which is electronic goods.

 Serve:- when the customer of the M&S purchase the electronic good online they would
receive value added services like discount, return policy and many more.
 Speak:-online discussion has been conducted by the company and question has been
asked from the customers regarding the online sale of electronic goods through social
media websites like Facebook and Twitter.
 Save:-through online sales cost can been reduces by the M&S which can be transformed
by them into extra discounts to the customer, which help in gaining higher market base.
 Sizzle:- in online sales new values can be added by the M&S by incorporation of M&S
wallets on purchasing of the electronic goods.
Strategy :- in this, M&S is going to focus on developing strategies in order to launch electronic
goods successfully by using social media campaign in the market of UK. The tool of STP and
SWOT would be used to develop these strategies (Pranata and Amaranti, 2021).
STP model:- this tool comprises of Segmentation, target market and positioning.
 Segmentation:- for electronics products of the M&S the marketing department is going
to segment their customers by demographic, behavioural and psycho-graphic
segmentation. So it's become important for the organisation to develop social media
campaign in order to attract customers in UK.
 Target market:- the marketing department of the M&S is going to target customers of
middle and high income group, employees and professional, people between age group of
20 to 55 years old, high society and price sensitive people in the UK.
 Positioning:- in their social media campaign the management of the M&S is going to
implementation price positioning strategy in order to launch new product in the market of
UK. With the help of this strategy company can easily attracts the high income, price
sensitive and technology lover people.
SWOT analysis:-
 Strength:- the M&S is being considered as a well known retail brand of UK which help
in attracting large base of customer within the country. High quality product with low
prices has been provided by the company in around more the 1000 retail stores in the UK.
 Weaknesses:-the number of countrified or imitation of the products is being considered
as a major weakness which have been faced by the M&S. Product has been sold by other
at lower price which affect the profit and sales of the company.

 Opportunities:- new social media campaign can be implemented by the M&S within
their business with a aim to provide good quality of electronic good to their customers in
UK. By this company can regain it customers.
 Threats:- Immense competition has been faced by the M&S in UK by their rivals like
TESCO, ALDI, ASDA and centra etc. Due to these the performance of the company has
been affected.
Tactics:-in this, tactics has been developed which assist the social media marketing campaign
for the electronics goods (Matidza, Ping and Nyasulu, 2020). 4Ps in context to M&S has been
discussed below:-
 Product:-the management of the M&S is going to launch different types of new product
under the head of electronic goods like TV, refrigerator, home theatres, AC and many
more.
 Price:- the competitive pricing strategy has been used by the M&S which help in
attracting more customers. The price range of TV in between 130£ to 500£ and AC in
between 300£ to 400£.
 Place:- the management of the M&S has implemented the concept of online selling for
electronic product to its customers. By visiting website or Facebook pages customers can
easily assess all its product range.
 Promotion:-in order to promote new product in the market of UK the M&S can use
email to its customers and also continuously advertise social media platform.
Action:-
This is basically the calculation of all the revenue and expenditure on yearly basis in order to
examine the position of business.
Particulars Amount (£)
Print media 10000
Plant and machinery 60000
Promotional activity 30000
Marketing 15000
Total 115000

Controlling:-
This help in examining the performance of the business and its product form their
competitors. To implement the strategy of digital marketing through controlling the M&S is
going to use benchmarking method. This help the management in identifying all the
opportunities which can be used by them in modification.
CONCLUSION
From the above report it has been concluded that in order to introduce new product into
the market it is very important for the management to make an effective marketing plan. This
report concluded an effective digital marketing plan for M&S which help them in introducing
new product line in the market of UK. The online sales of the electronic goods help in increasing
the sales and market share.

REFERENCES
Books and Journals
Chernev, A., 2020. The marketing plan handbook. Cerebellum Press.
Pranata, Y.A. and Amaranti, R., 2021. Rancangan Strategi Pemasaran Media Sosial
Menggunakan Model SOSTAC. Jurnal Riset Teknik Industri, 1(2), pp.110-120.
Pranata, Y.A. and Amaranti, R., 2021. Rancangan Strategi Pemasaran Media Sosial
Menggunakan Model SOSTAC. Jurnal Riset Teknik Industri, 1(2), pp.110-120.
Matidza, I., Ping, T. and Nyasulu, C., 2020. Use of digital marketing in estate agency industry in
Malawi. E-Learning and Digital Media, 17(3), pp.253-270.