Marketing Comms Plan SOSTAC The 3 Ms S
- Slides: 12
Marketing Comms Plan SOSTAC + The 3 Ms S – Situation analysis (where are we now? ) O – Objectives (where do we want to go? ) S – Strategy (how do we get there? ) T – Tactics (details of strategy) A – Action (implementation - putting the plans to work) C – Control (measurement, monitoring, reviewing & modifying) Men – human resources Money - budgets Minutes – time scales & deadlines
SITUATION ANALYSIS (1) Review of performance (sales, market share, profitability) Trends (comparisons with previous years) Relative performance (comparisons with competitors) SWOT for product & organisation PEST Analysis (political, economic, social & technological) Market structure (segmentation, competition, DMU) Product positioning
SITUATION ANALYSIS (2) Product positioning Use perceptual map plots Ex: Lucozade Adults Healthy Sick Children
SITUATION ANALYSIS (3) Target Marketing Division of large market into smaller segments to reduce wastage of resources Each segment own distinct needs, patterns of response Segment Criteria: Measurable / Substantial / Accessible / Relevant
SITUATION ANALYSIS (4) Consumer segments Demographics (age, socio-economic group/job-type) Geodemographics (location, neighbourhood) Psychographics Lifestyle Attitudes, beliefs & intentions Benefits sought Target Group Index (heavy/medium/light users)
SITUATION ANALYSIS (5) Industrial segments Type of company Size Structure (autocratic vs centralised) Location / geographic area Heavy vs light users Existing suppliers Benefits sought Title / position of key decision makers
OBJECTIVES (1) Marketing Objectives (sales, market share, distribution penetration, launching of new products, etc. ) Examples: Increase unit sales of product X by 10% over next 12 mths Increase market share by 5% Establish network of distributors NB: not all are growth oriented. Ex: in competitive mature markets maintain market share & consolidate sales Retention of profitable customers & desselection of unprofitable ones
OBJECTIVES (2) Communications Objectives Ex: generate awareness, attitudes, interest, trial Yardsticks: DAGMAR (defining advertising goals for measuring advertising responses) unawareness / comprehension / conviction / action AIDA attention / interest / desire / action
STRATEGY Selection of target markets, positioning, selection of comms tools, sequence of comms tools, time scales, etc. STOP & SIT STOP – segmentation / targeting / positioning SIT – sequence / integration / tools
TACTICS Tactics = details of strategy. Precision about communication tools to be used (ex: advertising, direct mail, PR) List: what happens, when - tactical timings for how much
ACTION Detailed project plans to implement tactics Necessitates : good project planning skills, time management, prioritisation, people management skills… + ability to plan for contingencies
CONTROL Need to monitor campaign as early as possible Means: Market research & testing Sales analysis Number of response surveys Frequency of measurement Accountability, costs…
