The SOSTAC Model is a planning framework used in marketing and business strategy development. It was created in the 1990s by writer and speaker PR Smith. It consists of six key stages: Situation analysis, objectives, strategy, tactics, actions, and control.
Main Benefits of The Sostac Model
The SOSTAC Model provides a comprehensive and structured marketing plan to achieve effective marketing strategies.
The Sostac Model helps:
- to document current performance and define vision,
- to identify an organization’s strengths, weaknesses, opportunities and threats,
- to set clear and measurable objectives,
- to track progress and evaluate the success of marketing campaigns,
- to set priorities and organise all marketing activities to achieve the desired results,
- to draft strategy for future by analyzing an organisation’s capabilities, customers, competitors and business environment.
Explanation of The Sostac Model
The Sostac Model is a process-based structure consisting of six key stages: Situation analysis, objectives, strategy, tactics, actions, and control.
Situation analysis: Situation analysis involves analyzing an organisation’s capabilities, current customers and business environment. It focuses on SWOT analysis, product and competitor anaysis of the organization. It helps to draft strategy for the future.
Objectives: The second step involves setting clear and measurable objectives. PR Smith’s 5S Objective Setting Framework (Sell, Serve, Speak, Sizzle, and Save) is used to create digital strategies. To make them effective, it is important to turn each objective into SMART (Specific, Measurable, Achievable, Relevant, Time-bound) objectives.
Strategy: Third step of the model is developing a strategy to achieve the objectives including segmentation, targeting, positioning and marketing mix.
Tactics: Tactics include formulation of actions used to achieve the objectives. It includes building the road map, allocation of resources, marketing and communications mix to implement the strategy.
Action: Putting the plan into action includes executing the tactics, allocating tasks and monitoring progress. Action plans can include modifications to organisational roles and structures.
Control: Monitoring and evaluating the performance is the final step of the model. It includes analysing whether strategic and tactical objectives are achieved or not.
How to Apply The Sostac Model
To apply The Sostac Model to your business, FITMINDS is providing an adoption of the model that fits your company and your company’s needs. By using The Sostac Model businesses can create simple, process-based structure to achieve effective marketing strategies.
Contact us to get more information or discover your probable personalized roadmap for The Sostac Model
Additional Tips and Readings
- You can read OGSM Framework for business-planning framework.
- For a a step-by-step strategic planning tool, you can read The Five-Step Strategy Model.
- You can learn more about segmentation types with the Market Segmentation.
- For a management method used to align an organization’s goals and objectives, you can read The Hoshin Planning.
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