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The marketing plan could be broken down into six element as for the SOSTAC Model developed in the 1990’s by PR Smith
SOSTAC is an Acronym for the 6 basic elements of the Marketing Plan:
Situation
Objectives
Strategy
Tactics
Actions
Control
SITUATION ANALYSIS
The situation analysis consists in two kind of analysis:
? internal and external audits
? market analysis
The first type of research is used by the company to examine its strengths in relation to its current and potential market looking at both macro and micro environment factors.
The macro environment factors are those factors which affect the company's planning and performances, and are beyond its control and they are identify with the acronym PESTEL while the micro environmental factors are those internal factors close to the company that have a direct impact on the organization’s strategy...
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