Peer Review on Jellies & Jaffas

Peer Review- on Cowley’s SOSTAC Model of Marketing on online start-up ‘Jellies & Jaffas’

SOSTAC Model of marketing by Smith is an upgradation to “SWOT Analysis” consisting of six stages. It is applied to many online start-ups to make the process streamlined. The same has been applied to one of the cases- ’Jellies & Jaffas’, below are some findings for the same. 

SOSTAC Model of Marketing

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  SITUATION ANALYSIS - Company must know who they are, who are they targeting, who are their real customers. Once a company can answer these questions for then the main task is to know “where they are?” in this market. Knowing yourself (company) is important to know your competitors in the market.

• OBJECTIVE- Objective of any business firm, fulfil the demands of the customer, earn revenue and make major profits to sustain in the market, educating users about the brand, building the brand reputation, identifying and valuing the targeted customer.

• STRATEGY- Companies should determine their target market and then split it in a specific way. The planned strategy should deliver what the product/ service is all about either through websites or through the channels.

• TACTICS- Once a company is satisfied with the marketing plan, they must bring certain plan to it. These tactics will not only help them retain their customers but also attract new ones.

• Action & Control- How to proceed, who’ll do it, will it be daily, weekly or monthly practice are some questions that a company will be able to answer with the help of KPI’s and Metrics.

’Jellies & Jaffas’

• They analysed their situation and took the hybrid approach. Findings for them was first focus on their product (logo, packaging, quality, stronger B2B relationship) and then to their web marketing strategies (website communication, e-marketing campaigns, social media branding and much more). Moreover, they should also have certain metrics to track their desired KPI’s (Cowley, 2016). Their marketing template show, to success a market plan all the factors; demographic, geographic and psycho-graphic behavior of the consumer needs to be taken into consideration (Cowley, 2016). They are perfect example, to understand various tactics a company opts combining social media marketing tactics to marketing operations. Scheduler and dashboards are some perfect examples to action on and control with.

To put it in a nutshell, the SOSTAC Model of marketing is important but also time and cost consuming. Big companies will certainly not have an issue, but small companies might face a problem with it. 

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Bibliography:

Text:

Cowley, M. (2016), “Jellies & Jaffas’”: Applying PR Smith’s SOSTAC Marketing Model to an Online Confectionery Start-Up, online available at:

https://www.researchgate.net/publication/315488492_'Jellies_Jaffas'_Applying_PR_Smith's_SOSTAC_Marketing_Model_to_an_Online_Confectionery_Start-Up. (Accessed: 19 October 2019)

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SOSTAC Model of MARKETING (2019). How to write a digital marketing plan tailored to your audience and platform. [online] Available at: https://www.marketingmag.com.au/hubs-c/sostac-digital-marketing-plan-acm/.  [Accessed 19 Oct. 2019].