Foxtons in Spain: SOSTAC Framework for Market Entry and Strategy

This report presents a marketing plan for Foxtons, a UK-based estate agency, aiming to expand its business into Spain. The analysis utilizes the SOSTAC framework, encompassing Situation, Objectives, Strategy, Tactics, Action, and Control. The report explores market penetration, product development, market development, and diversification strategies, with a focus on Ansoff Matrix. Tactics including product standardization, pricing strategies, and distribution channels are discussed to help Foxtons achieve its goals in the Spanish market. The report provides a comprehensive overview of how Foxtons can successfully enter and thrive in the Spanish real estate market, maximizing its potential for revenue and profitability.

Introducing FOXTON
estate agency in Spain

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
SOSTAC Framework..................................................................................................................3
Strategy.......................................................................................................................................4
Tactics.........................................................................................................................................5
CONCLUSION................................................................................................................................6

INTRODUCTION
This report is based on importance of expansion of organisation and what are different
structures and models can be used to expand business of organisation and how it help in
developing effective strategies for organisation to expand its business. This report is based on
SOSTAC framework which is used as general marketing strategy and it can be applied in various
situations. SOSTAC consists of six facets of marketing situation, objectives, strategy, tactics,
action and control. This report is based on organisation FOXTON which estate agency in UK
and planning to expand its business in environment of Spain and this report focuses on analysing
environment of Spain and making effective marketing strategy for FOXTON by the help of
SOSTAC framework.
MAIN BODY
SOSTAC Framework
This part of report focuses on strategies which can be used by FOXTON in order to
expand its business in Spain and help in understanding about SOSTAC framework and using
SOSTAC as a tool to develop and implement effective strategies for organisation to expand its
business in Spain in order to boost their revenues and also maximize productivity and
profitability of organisation. FOXTON organisation operates in environment of UK which works
towards providing properties to consumers or provide suitable property location for consumer
according to their need. FOXTON also provides properties on rent to consumers which are
looking for properties. SOSTAC framework is explained as marketing framework used to
understand about environment and developing appropriate marketing strategy which can be
effective in environment of Spain. This model help FOXTON in understanding about plan which
can be utilised by organisation when setting their business in Spain and it this model will also

help organisation in understanding about environment of Spain and its market trends which can
help in setting organisation in environment of Spain (Aarnio, 2017).
Strategy
Strategy in SOSTAC model is explained as plan of organisation to reach at desired point
by developing appropriate and effective strategy which can help in achieving the desired goals
and objectives. Strategy part of this model is based on identifying suitable segment of market and
developing effective plan to target that market segment. This part focuses on developing
appropriate strategies and plan for FOXTON organisation to expand its business in environment
of Spain effectively. FOXTON organisation can use Ansoff Matrix as an effective tool to
understand and analyse market of Spain and develop their strategies according to it.
Ansoff Matrix
Ansoff Matrix is explained as tool used by organisation to analyse and plan strategies for
growth of organisation and focuses on using strategies which are effective for organisation. The
matrix shows four strategies which can help organisation in its growth and help in understanding
and analysing risk associated with every strategy. This matrix can be used by FOXTRON
organisation to develop and implement effective strategy to establish their business in Spain.
Four strategies which can be used by FOXTRON are mentioned below:
 Market Penetration – FOXTRON can use market penetration in environment of Spain by
decreasing prices or commission organisation take on providing properties or
organisation can increase their promotion or FOXTRON can merge with existing
competitor in market (Dwan, M., 2021).
 Product Development – FOXTRON can launch new schemes and offers for consumers of
Spain and organisation can provide effective packages to the consumers.
 Market Development – FOXTRON can use their existing strategy in Spain also and can
focus on targetting new segment of consumer by providing same offers and products to
consumers of Spain. Organisation can acquire properties which are valuable by
negotiating with owners and help consumers in acquiring suitable properties according to
need of consumers.
 Diversification – FOXTRON can use diversification in environment of Spain by
developing an effective marketing strategy for organisation and providing suitable

properties to consumer of Spain as it help in generating high potential revenues for
organisation.
From above all these strategies, FOXTRON can use market penetration as an effective
strategy to enter in market of Spain and developing objectives according to this strategy.
FOXTRON can merge with existing organisation in environment of Spain and promote their
organisation by the help of effective marketing strategy and providing attractive offers to their
consumers (Innanmaa, 2020).
Tactics
Tactics in SOSTAC model focuses on understanding the tools which can help in
understanding the objectives of marketing plan. Marketing mix plays vital role in understanding
and meeting the objectives which are mentioned below:
 Product – Product is explained as product which is wanted by consumer.
 Place – Place is explained as where product can be available to consumers.
 Price – Price is explained as value of product or service available to consumer.
Standardisation Adaptation Glocalisation
Product Standardisation in
respect to product is
explained as
maintaining
consistency in product
which is available in
different markets.
FOXTRON have to
maintain its goodwill
in Spain also to
maintain their brand
image and goodwill.
Adaptation in respect
to product is explained
as changing product
according to need of
consumer in new
market. FOXTRON
have to focus on
changing necessary
changes in their
offerings according to
need of consumers of
Spain.
Glocalisation with
respect to product is
explained as product
or service which is
used globally and
locally. FOXTRON
have to make sure that
their business should
be effectively operated
globally as well as
locally.
Price FOXTRON have to
maintain their prices in
FOXTRON have to
make change price in
FOXTRON have to
make sure that they

Spain similar to UK as
it help in setting their
business effectively
(Vogasianos, 2017).
their offerings
according to place as
organisation is going
to expand their
business in Spain and
organisation have to
make changes in their
prices according to
demand and people
income.
should provide
properties at
affordable prices in
Spain and maintain
their pricing according
to UK.
Place FOXTRON have to
maintain the standard
of their services and
provide properties and
estate which are best
for their consumer and
based on according to
their needs.
FOXTRON have to
adapt market scenario
and trends of Spain
and place their
services accordingly.
FOXTRON have to
make sure their
services should be
available to their
consumers by opening
their offices in Spain
and by providing
consumer service.
CONCLUSION
This report concludes about importance of implementing effective marketing plan and
help in concludes about importance of SOSTAC framework in FOXTRON organisation to
effectively expand their business in Spain and achieve desired goals and objectives effectively
and efficiently.

REFERENCES
Books and Journal
Aarnio, H., 2017. International Digital Marketing Strategy as a Growth Opportunity: Case:
Finnish startup.
Dwan, M., 2021. The zen of digital marketing: find your way through the noise.
Innanmaa, K., 2020. A strategic marketing plan.
Vogasianos, E.M., 2017. Digital Communications Plan and Multichannel Strategy Formulation
for the Bedding Industry: Case Company X.