Principles And Practices Of Marketing

Principles And Practices
Of Marketing

Table of content
 Introduction
 SOSTAC model
 Situational analysis
 Objective
 Strategy
 Tactics
 Action
 Control
 Conclusion
 References

Introduction
Marketing refer to the set of activities conducted by an organisation in order to
effectively communicate with its targeted customers and maintain brand within
marketplace. The current report is based on Next Plc which is a fashion retailer,
headquartered in UK and now seeking for the expansion to another country for
organisational growth. For determine the viability of potential market SOSTAC
model will be used.

SOSTAC model
The Next Plc is a British multinational retailer deals in clothing, footwear and home
products which maintain approx. 500 stores in UK and 200 around in Europe, Middle
East and Asia and online platform to offer its product worldwide. It is performing
well in current market by offering high quality of products appreciated by customers.
On this success criteria the managers of company are planning to expand the business
by setting up its physical store in Germany. For this the management is using
SOSTAC model that support in performing feasibility study of this market.