Principles and Practices of Marketing - SOSTAC Model Analysis for Whole Food Market

Principles and
Practices of Marketing

Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Situational analysis based on the macro environment............................................................1
TASK 2............................................................................................................................................3
Marketing Mix........................................................................................................................3
TASK 3............................................................................................................................................6
Action element of SOSTAC...................................................................................................6
Control element of SOSTAC..................................................................................................6
CONCLUSION................................................................................................................................8
References:.......................................................................................................................................9

INTRODUCTION
Marketing is defined as the continuous process under which the manufacturer or producer
of goods and services focus to find out the potential customers for the specific product or
services. It has been found that all the principles of marketing are related to the consumers. The
principles of marketing follows a rational series. First step to marketing is to identify the target
customers for any specific product or service. Knowing about the users of a specific product or
service is an important task under which marketers also analyse the needs and demands of
customers and how they can fulfil them. It has been found that identifying and retaining the
customers in an organisation is the basic step towards the success of organisation as it leads to
the ensuring the growth and profitability of organisation. Whole food is the chosen organisation
for this report. It is an American based multinational supermarket chain selling the products from
hydrogenated fats and artificial colours, flavours and preservatives. It has more than 500 stores in
North America and seven in United Kingdom. It was founded by John Mackey in 1980 having
headquarter in Austin, Texas. United States. This company is planning to expand their business
in India. Hence they are required to analyse several of factors before starting operations in a new
country. This report deals with the entire framework of SOSTAC model which include the
situational analysis, 4Ps of marketing mix along with the action and control plan required by the
organisation.
TASK 1
Situational analysis based on the macro environment
PESTEL analysis is a marketing tool which is being used by the organisation for the
purpose of analysing the external macro environmental factors which affect the business
operations of the organisation. It stands for Political, economic, social, technological,
environmental and legal factors. By analysing all these factors, Whole Food company can
effectively expand their business operations the market of India. Below mentioned is the
PESTLE analyses of Whole Food in India:
Political factors
It implies the effect of governmental policies on the business operations. In the context of
whole Food market, some of political significant external factors in the macro environment are
given below:
1