Sky – launch their products and services in Norway
They now wish to assess the viability of introducing one of those companies to a different country, outside of the UK, where they do not currently operate. The company CEO has asked you to work with two other marketing consultants to select a company one or more of you have researched, and present how it could successfully enter the target country.
The presentation will use the SOSTAC framework, to illustrate how this could be planned. Each element of SOSTAC should be applied separately, but a holistic overview needs to also be used so that each element is integrated within the company’s planned strategy. Each of you will lead on one of the three tasks, below.
Task one, for consultant one.
Present the following SOSTAC elements – Situation and objectives
SOSTAC diagram to be included as part of your introduction.
S Brief overview of PEST of the country you recommend moving to. facts/ figs. It may be worth highlighting Hofstede of the country (if available) compared to the UK
O Ensure objectives are SMART. They could relate to financial, operational, Human Resource and Customer related elements of the business.
Strategies and tactical plans that are supported by a sound information base.
The ability to use creative marketing skills and knowledge in a practical and applied situation.
Work that demonstrates intellectual originality and imagination.
A range of research needs to be undertaken. Students need to base their response on an application of the SOSTAC model. Emphasis should be on the macro environment and on Price, Place and Product
Conclusion
Justify why you have chosen this country as a new market for the company. You can do this in two ways:
1) Link this to the PEST findings of the SOSTAC. Things to consider might be:
Size of the market
Demands of residents in the target country for the products/ services your chosen company offers.
Government openness to foreign direct investment (FDI)
Do the average earnings/ disposable income of citizens make the company’s offerings affordable/ realistic?
Social/ cultural cues
Avoid repeating PEST findings your group has used in other parts of the SOSTAC.
OR
2) you can complete a Porter’s Diamond. Here is an example of a Porter’s Diamond created to move Merlin Entertainment Group plc to Cuba:
