SOSTAC Marketing Plan: Tata Group's Entry into the UK Hot Snack Retail

This report presents a comprehensive marketing plan for Tata Group's venture into the UK's hot snack retail market. The plan utilizes the SOSTAC model, beginning with a situational analysis that includes a SWOT analysis to identify strengths, weaknesses, opportunities, and threats. Key objectives include increasing sales by 18%, expanding the customer base by 25%, and boosting profitability by 40% within eight months. The segmentation, targeting, and positioning (STP) strategy focuses on geographical and demographic segmentation, targeting young millennials in the UK market. The marketing mix (product, price, place, promotion) outlines tactics such as competitive pricing, online and offline distribution channels, and social media marketing. The action plan includes a budget of €150,000 allocated to print media, human resources, and other expenses. Controlling and monitoring will be done using benchmarking and Gantt charts to ensure the project stays on track. The report concludes that effective marketing is crucial for promoting Tata Group's brand and offerings in the competitive UK market. Desklib provides a platform for students to access similar solved assignments and study tools.

Principles of
Marketing

Contents
INTRODUCTION.......................................................................................................................................3
MAIN BODY..............................................................................................................................................3
CONCLUSION...........................................................................................................................................8
REFERENCES............................................................................................................................................9

INTRODUCTION
Marketing can be defined as the activity which involves communicating and promoting
the offering, business and brand of the organization. The marketing plan can be referred to as the
document which lays down the efforts of marketing of the business for the future time period. It
mainly outlines marketing strategy, advertising activities as well as promotions which are
planned for a specific period of time (Fotiadis, Mombeuil and Valek, 2018). The company
chosen for this report is Tata Group, a multinational company which is headquartered in India.
This report will cover the marketing plan.
MAIN BODY
Marketing plan is a document which mainly covers the outline of the promotional activity
of the business. Tata group is planning to move into the segment of hot snack of retail market in
the market of UK. This is a diversification of the product segment of the company (Sumarwan,
2019). In order to prepare the marketing plan, SOSTAC model is being used which is discussed
thereunder in context to Tata Group-
Summary:
This plan is based on Tata Group which is expanding its business in new segment of
industry which is retail market, that too in hot snack in the market of UK. It is opening the snack
food operations in the market of UK.
Objectives:
 To increase the sales by 18% of the company by 8 months.
 To enhance the customer base in next 8 months by 25%.
 To increase the profitability of the business by 40% in next 8 months.
Situational Analysis
SWOT Analysis

It is the tool which is used to identify the internal and external factors of the company so
that it can utilize the opportunities and combat the threats. For Tata Group, it is discussed below
which will help in its successful new project of introducing the hot snack in UK market.
Strength Weakness
 The biggest strength of the Tata Group
is that it have built the expertise at
moving in the new markets and also
making it the success. The expansion
have helped Tata to build the new
stream of revenue and also diversify its
economic cycle risk in market wherein
it operates (Schulz, 2021).
 Another strength is its strong network
of distribution which have the ability to
reach the potential market.
 Its major weakness is that the
organizational structure of thecimpany
is just not compatible with the current
business model, thereby limiting the
expansion in the adjacent segments of
products.
 Another weakness for it is that it is not
good in forecasting the demand of the
products which results in missing the
leading opportunities as compared to its
competitors.
Opportunities Threats

 The biggest opportunity for it can be to
expand its product segment in the
ecommerce so that large amount of
consumers are attracted. By introducing
the hot snacks in UK market, the
company can make use of online
platform so that it can reach large
market.
 The company has a new opportunity to
open the new market by analysing the
new trends in consumer behaviours.
This will give opportunity to built new
revenue stream and diversify its
segment of offering.
 The immense level use of the
technology by the competitors can be
the biggest threat for the company as t
pressurises the organization to inbuilt
new technologies which enhances its
cost and lowers profits.
 Another threat is intense competition
which have resulted in lowering the
overall sales for company and put
pressure on the profitability of
organization (Marques, 2021).
STP
Segmentation can be referred to as the process which involves grouping the customers
on the basis of its common characteristics. These are mainly of four types which are as follows-
 Geographical: It mainly segments the customers on the basis of region, town, city and
country.
 Demographic: This involves splitting the customers on the basis of people based
differences. It includes the qualities such as age, marital status, sex, occupation, income,
etc.

 Behavioural: This segments the consumers on the basis of consumer behaviour,
specifically regarding products. It divides the customers on the basis of behaviour of
consumers such as loyalty, online shopping, etc.
 Psychographic: It segments the consumers based on the characteristics which are more
emotional and mental. These features are not very easy to observe as compared to
demographics but it helps in taking the valuable consumer insight regarding their motive
(Diamond, 2019).
For the new product segment of hot snack, Tata group will segment the customers on the
basis of geographical and demographic basis.
Targeting can be defined as marketing strategy which involves identifying the specific
markets or personas for the specific content. Tata group will target the UK market that too the
young millennial who have interest in having hot snacks. It will also target the people who have
n time to prepare food so this product will help them to make their living easy
Positioning mainly defines wherein the product of the company stands in context to
others which offers the same product or services in market and the consumers Tata group will
position itself in the UK market by utilizing the promotional activities such as social media so
that it can attract more and more consumers.
Tactics
Marketing mix
It can be defined as the set of tactics or actions which the organization can use in order to
promote the product or brand in market. in context to new product segment of Tata, it is
discussed thereunder-
 Product: It is referred to as the offering which company offering in market. Tata group is
planning to launch the hot snack in the market.
 Price: It is the value which will be offered to consumers and they need to pay it in order
to consume it. Tata group will use the competitive pricing so that it can compete with its
local companies and establish its brand image in the new market.

 Place: It is the place wherein the distribution of the product will be done. Tata Group will
use the offline and online mode to sell its offering. It will tie up with retail stores and
even open its own physical store so that consumers can buy it easily. Its product will also
be available on online mode in its website.
 Promotion: It is the marketing activity which will be used by company to promote its
offering. Tata Group will use social media, newspaper advertisement and other digital
marketing strategies to attract new customers (Bui, 2020).
Action plan
Budget can be defined as a process which involves creating the plan in order to spend the
money. For Tata Group, the overall budget for this marketing plan is €150,000.
Particulars Amount (€)
Print media 50,000
Human resource 30,000
Other expenses 70,000
TOTAL 150,000
Controlling and monitoring
It is the process which involves overseeing all task as well as metrics which are essential
in order to ensure that authorized and approved project is on time, within scope and within
budget so that there is minimum risk. Tata group will use benchmarking tool in order to monitor
its marketing plan. This tool involves setting the benchmark or standard and the company will
compare its actual performance with the standard.
Gantt chart
Activities Week
1
Week
2
Week
3
Week
4
Week
5
Week
6
Week
7
Week
8
Week
9
Summary
objectives

Situation
analysis
Tactics
Action
plan
Controlling
and
monitoring
CONCLUSION
It is concluded from this report is the marketing involves the set of activities which
involves communicating and promoting the offering of business. the marketing plan is a
document which involves outlining the activities of business which will help in promotion of the
brand, offering and business of the company. Tata Group is planning to launch the hot snack
whose target market will be UK market people who are millennial.

REFERENCES
Bui, T.T.N., 2020. Inbound Marketing Plan for Small & Medium-Sized Businesses.
Diamond, S., 2019. Digital marketing all-in-one for dummies. John Wiley & Sons..
Fotiadis, A., Mombeuil, C. and Valek, N.S., 2018. Designing and implementing a marketing
plan. In The Emerald Handbook of Entrepreneurship in Tourism, Travel and Hospitality.
Emerald Publishing Limited.
Margariti, A., 2018. Strategic marketing plan for hotels: The case of Hotel Pyrgos.
Marques, C.V., 2021. Increasing international footprint of a natural stone business-marketing
plan (Doctoral dissertation).
Schulz, A., 2021. The importance of a marketing plan for tourism destinations. Case study: a
marketing plan for Empordà.
Sumarwan, U., 2019. Pemasaran Strategik: Perspektif perilaku konsumen dan Marketing plan.
PT Penerbit IPB Press.