Principles and Practices of Marketing

Principles and Practices of
Marketing

Table of Content
 Introduction
 SOSTAC
 Justify the chosen country as a new market by doing PEST analysis of the SOSTAC
 Conclusion
 References

Introduction
 Marketing defines a concept by which organisation made their effort in order to earn prominent profit for
the business. It is a procedure that includes suitable research considering the design promotion development
and customer satisfaction in order to provide the services of the customers in more effective way. Moreover
this report is based on Natwest Bank which is a major retailer bank situated in United Kingdom and also
become a part of The Royal Bank of Scotland group. Currently, company wants to expand its business in
Croatia Moreover report is based on the proper research with the help of SOSTAC model by which Natwest
Bank can analyse the new country and the market by using various techniques and theories.

SOSTAC
 This model include various fundamental terms for the better result of marketing and also represented by
the manager of Sainsbury in order to explore their business unit in Croatia as it is very important to use
this model that are explained as under
 Situation
 It is considered as the first step which describes the planning of marketing which is useful in enhancing
business in order to gain more profitability and growth. Currently the manager of Sainsbury wants to
expand their business and Croatia and should determine the situation off market for the new country
with the help of pest analysis.