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Principles and practice of marketing Assignment (pdf)

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Added on  2021-01-02

Principles and practice of marketing Assignment (pdf)

   Added on 2021-01-02

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Principles and PracticeOf Marketing
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Table of ContentsINTRODUCTION...........................................................................................................................1Task 1...............................................................................................................................................1SOSTAC model of marketing.....................................................................................................1TASK 2............................................................................................................................................1Evaluation of effectiveness of Sainsbury's current SOSTAC strategy.......................................1TASK 3 ...........................................................................................................................................2Current Marketing Strategy that can be implemented in International Market .........................2CONCLUSION................................................................................................................................4REFERENCES ...............................................................................................................................6
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INTRODUCTIONMarketing refers to exchange of goods and services by satisfying the need of consumer(marketing, 2019). Principles of marketing refers to activities which are involved in transfer ofgoods from seller to consumer by advertisement, shipping and storing. To study this reportSainsbury has been taken. Sainsbury is a largest supermarket whose headquarter is in UnitedKingdom. The company was founded by John James Sainsbury in 1869. It deals with variety ofproducts like home products, luxury beauty products, foods products and so on(Smith, 2014).The country where Sainsbury is not operating at present is Indonesia. SOSTAC model is verypopular model of marketing . This model focus on operation of Sainsbury in Indonesia. In thisreport, detailed study of SOSTAC model will be done and will also study about current strategyused by retailers. Task 1SOSTAC model of marketingSOSTAC is one of the most popular model of marketing. It was developed in 1990s byPR Smith. The model was developed to do planning for business in easy and quick manner.SOSTAC stands for six fundamental aspects of marketing namely Situation, objective, strategy ,tactics, action and control. To expand Sainsbury in Indonesia following model has been used toexplain the following: Situation Analysis For understanding a detailed marketing of Sainsbury in Indonesia various step are need tobe performed. The very first step is situation analysis. It refers to the method by which bothinternal as well as external business environment is analysed. In order to study this properly firstwill understand about macro environment. Macro Environment: It refers to the external environment that influence the organisationperformance and plan of action and also effect decision making of an organisation. These factorsbasically includes political and social conditions, technological change if any, legal andenvironment factors (Shank and Lyberger, 2014). To study macro environment in details PESTanalysis is need to be done. Political factors: Though Indonesia is an independent country but the financial conditionis not stable and even a part of population is living under the poverty line. So it would be1
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