Marketing Report: Analysis of Purple Bricks using SOSTAC Model

This report provides an analysis of Purple Bricks, an online estate agent, focusing on its marketing strategies and the application of the SOSTAC model. The introduction defines marketing and its role in enhancing business productivity and profitability, setting the stage for an examination of Purple Bricks' operations in the UK, Germany, and Canada. The main body delves into Purple Bricks' use of the SOSTAC model, outlining its elements: Situation, Objectives, Strategy, Tactics, Action, and Control. The report details Purple Bricks' objectives, including increasing customer engagement and brand visibility. It further examines the marketing strategies, tactics, and actions employed by the company, such as the use of social media and digital marketing. The justification and conclusion section highlights the effectiveness of the SOSTAC model in expanding the business and achieving its objectives. Finally, the report emphasizes the significance of market development strategies for growth and success.

Principles and practices of marketing

Table of content
 Introduction
 Main Body
 Justification and Conclusion
 References

Introduction
Marketing is defined as the procedure of creating awareness and promoting the
brand in order to enhance the productivity and profitability of an organization. In
addition to this, marketing is a long-term planning that is used by business entities
in order to inform people and sell goods properly. The main objective of the
organization is to analyze market tends in order to offer those products that fulfill
requirements of customer. For the presentation, Purple bricks is taken into
consideration. It is an E-state online agent that operates in United Kingdom.

MAIN BODY
About organization – Purple bricks is an online estate agent
that operates in Germany, UK and Canada. The company
was established in year 2012 by Michael Bruce. The
company is decided to expand its operations in Qatar in
order to expand its business and gain growth at
marketplace. The higher authorities of respective
organization is using SOSTAC model for the purpose of
attracting customers and provide best quality of services by
generating profits.

SOSTAC model –
SOSTAC model – It is kind of model which is to be defined as marketing
planning method which is used to analyze the market situations. It
comprises of several elements such as Situation, Objectives, Strategy,
tactics, action, control. It is a time consuming process which as it require
relevant information and data to execute. In relation of Purple Bricks,
they also uses model which assist them in achieving of competitive
benefits. It consists of several elements which are discussed as follows-

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The second stage is to development of smart objective. It is necessary that objectives should
be attainable and also assist in solving situation which are arise within an organization.
Smart objective of the Purple bricks is to attain the 50% existing consumers through
giving them online account services, enhance email frequency from the main per quarter
to the per week from year 2021 to 2023 and enhance brand visibility. SOSTAC model
third stage is to develop the plan that helps in achieving organizational objectives. It assist
in examining the strengths and weaknesses of company to attain the organizational goals
within given time period.
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In engagement, the higher authorities of Purple Bricks make strategy in order to
achieve 50% of its existing customers to services as it help to attracts customers &
enhance customer base level. In addition to this, marketing strategy assist respective
organization to introduce product, place, price and promotional channel which raise
customer and enhance its productivity in an effective manner.
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Third stage is strategy, it is element in which it focuses on how the set objective is likely
to be achieved. It is critically crucial to implement strategy so that goals are accomplished in
proper manner. In relevance of chosen firm, they adopting market development strategy for
their achieving of objectives. Tactics- In business, tactics are essential without which it is
not possible to access success. So, in context of selected entity, they are using social media
platforms and use of digital marketing in order to achieve their business goals within period
of time.

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It uses various promotional tools such as newspapers, magazine, bill broads,
digital marketing and so on. It assist to enhance customer base level and attain
profitability in an effective manner. In addition to this, management are using
and offering services by adopting challenges. It assist to enhance brand image
globally. The next step is Action which means tactics that are formulated by
management it should be implement.

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Further stage is action, it is aspect in which it
focuses on implementation of tactics into real course of
action. For example- the management of Purple Bricks
is adopting SMO , PPC tactics to achieve business
objectives. Also, they uses KPI to measure the
performance level of business.

Justification and conclusion
From the above presentation, it is analyzed that SOSTAC model used by Purple Brick assist in
expanding business properly and also help in maintaining productivity level that leads to
achievement of objectives timely and effectively. In addition to this, it also assist business
entities to capture large market share and earn profits. Moreover, it is analyzed that adoption of
market development strategy help an organization to develop new market segment for its
current product and services which leads to higher growth and success at marketplace.

References
Basalingappa, A. and Kumar, K., 2018. Marketing, communication and
democracy: Towards a dialogue between the disciplines of marketing and
communication. The Marketing Review, 18(2), pp.149-160.
Chautard, T. and Collin-Lachaud, I., 2019. Introducing the storytelling
analysis methodology in marketing: Principles, contributions and
implementation. Recherche et Applications en Marketing (English
Edition), 34(3), pp.27-46.
Fine, C. and Rush, E., 2018. “Why does all the girls have to buy pink stuff?”
The ethics and science of the gendered toy marketing debate. Journal of
Business Ethics, 149(4), pp.769-784.