Principles and Practices of Marketing

PRINCIPLES AND
PRACTICES OF MARKETING

TABLE OF CONTENT
• INTRODUCTION
• SOSTAC Model
• Situation
• Objectives
• Strategy
• Tactics
• Action Plan
• Control
• CONCLUSION
• REFERENCES

INTRODUCTION
• Marketing refers to development of various operational strategies and
plans regarding boosting up of profits by increasing sales activities of
an organisation. It is an inclusion of analysing respective market trend
of various company customers with their desired needs and wants for
consumption of various products as well as services. Management of
various business firms ensures better conduction of marketing
activities of the firm and for the purpose they also dedicates a separate
department for conduction of various marketing activities of an
organisation.

SOSTAC MODEL
• SOSTAC model is a tool used by marketing departments of various firm
for conducting firms marketing strategies ensuring effective utilisation
of valuable resources of the workforce. Respective model was proposed
in 1990's by Smith, which aimed at adoption of various modern
techniques of marketing for conduction of operational activities of the
an organisation ensuring its better market presence in firms given
marketplace