Principle and Practices of Marketing: TalkTalk SOSTAC Report

This report provides a comprehensive marketing plan for TalkTalk, a UK-based telecommunications company, utilizing the SOSTAC framework. It begins with an introduction to marketing principles and practices, emphasizing their importance for business performance. The report then delves into TalkTalk's business description and conducts a situational analysis using PESTLE analysis. It outlines the company's objectives, which include business expansion and profitability maximization. The report details the marketing strategy, including STP analysis, and the tactics employed, such as the marketing mix. Actions taken, like recruiting local staff for international expansion, are also discussed. Finally, the report covers control mechanisms, including the use of Key Performance Indicators (KPIs) for monitoring progress. The conclusion highlights the significance of marketing in understanding and satisfying customer needs and the effectiveness of the SOSTAC model in planning business expansion, along with the importance of competitive advantage and cost leadership.

PRINCIPLE AND PRACTICES
OF MARKETING-PPM

Table of Content
 Introduction
 Situational Analysis.
 Objectives
 Strategy
 Tactics
 Action
 Control
 Conclusion
 References

Introduction
Marketing is considered to be one of the effective practices which are
associated with promotional activities of entity. Moreover, the
principles as well as practices of marketing assists firm to develop
higher performance and profitability. As per the scenario the chosen
company for this report is Talk Talk, it is one of the growing British
telecomm service provider and having headquarters is in London,
United Kingdom. The aim of this presentation is to develop a plan
with help of SOSTAC framework in which situational analysis,
objectives, strategy, tactics, actions and control are included.

Business Description
Talk Talk telecom group plc is one of the leading telecom firms that
facilitate pay television, telecommunication, internet access and
mobile network services to businesses as well as customers within
United Kingdom. Moreover, they are established in year 2003 as a
subsidiary of Carphone Warehouse and was demerged as standalone
firm into March year 2010. Also, their headquarters is in Salford,
UK.

Situational Analysis
For analyzing the situation the TALK TALK company perform the
PESTLE analysis. As it helps them to know about the external factors
of other countries where they are operating. This incorporates some
factors such as:
Political
Economical
Social
Technological
Environmental
Legal

Objectives
The objective of TALK TALK company is to expand their business
and maximise 15% profitability in a year

Strategy
The strategy is considered as teh big picture of how firm plan to
attain the objectives that has been setting. Moreover, this also
happens to be much tough aspects of SOSTAC marketing plan
as per PR smith. In respect of TALK TALK Company, they are
using STP analysis so that it would able to know teh
segmentation, targeting and positioning.

Tactics
This element of SOSTAC highlights the strategy that are utilised for to
attain their objective in effective and efficient way. in respect of
Talk Talk company, for their business expansion they are using
marketing mix strategy, it is essentially define as the set of
controllable, tactical marketing tools which firm utilises for
generating response form their targeted marketplace. this
incorporates mainly three elements such as product, price, place
and promotion. All of them are described in relation to TALK
TALK company in USA:

Action
As the SOSTAC MODEL, in this element generally the above
mentioned tactics are highlighted. In respect of TALK TALK
company, as they are expanding their business in USA with similar
kind of offerings so for instance they would have to take some
actions that helps them to operates their business successful within
other countries. Therefore, they decided to recruit local people as an
staff as it would have knowledge and understanding about the
individuals desires and cultures.

Control
Respective element of SOSTAC Model highlights that the whole task
that would be going to performance on track or not. Moreover, it is
also considered to be the monitoring progress. In the firm should
have to place the systems which assists them to the value their
progress in periodically way such as weekly, monthly and
quarterly. In respect to TALK TALK company, for monitoring and
controlling the overall activities they utilised the Key performance
indicators which would assists them to determine that all staff and
task performance are on appropriate way or not.

Conclusion
As per the above presentation, this has been concluded that the,
Marketing is most important function in every company. TALK
TALK being a telecommunications company follows the principles
of marketing to understand the needs and wants of customers and
satisfy them. Moreover in order to plan the business expansion
they utilise SOSTAC model. It also important to make strategies
that gains competitive advantage and get cost leadership in the
market

References
 Ahmad, N., 2018. Toward advancing debates on Islamic
marketing: a renewed perspective. Journal of Islamic
Marketing.
 Kubberød, E., Viciunaite, V. and Fosstenløkken, S.M., 2019.
The role of effectual networking in small business
marketing. Journal of small business and enterprise
development