The SOSTAC analysis of the company and its chosen international market of Romania is necessary so as establish its current performance, based on user experiences review and mostly on the process of reporting and monitoring. Important for the SOSTAC are questions regarding present and desirable position for the company, as well as tactics details and action plans. Simply put, these are the responsibilities and structures, the processes and systems, the internal resources and skills that needs to be taken into account. Additionally, the segments, target markets, objectives and positioning play an important role in the establishment of SOSTAC structure.
Table of Contents
- BACKGROUND
- I. SOSTAC NEXT PLC in Romania
- 1. SITUATIONAL ANALYSIS
- 1.1 PEST ANALYSIS
- 1.2 NEXT PLC SWOT ANALYSIS ROMANIA
- 2. OBJECTIVES
- 3. STRATEGY
- 4. TACTICS
- 4.1 PRODUCT
- 4.2 PRICE
- 4.3 PLACE
- 5. ACTION
- II. SOSTAC USED BY THE FASHION RETAILER IN THE UNITED KINGDOM
- 1. PRODUCT
- 2. PRICE
- 3. PLACE
- 4. APPLICATION OF THE STRATEGY AT THE INTERNATIONAL MARKET
- III. USAGE OF STRATEGY IN THE INTERNATIONAL MARKET
- 1. GLOCAL
- 2. ANSOFF MATRIX
- REFERENCES
Objectives and Key Themes
The main objective of this work is to apply the SOSTAC marketing model to analyze NEXT PLC's marketing strategy in Romania. This involves a situational analysis of the Romanian market, defining objectives, outlining a marketing strategy, detailing tactics, and planning actions. The analysis also includes a comparison with NEXT PLC's UK strategy and explores its international market approach.
- Application of the SOSTAC marketing model to a real-world case study.
- Analysis of NEXT PLC's marketing strategy in the Romanian market.
- Comparison of NEXT PLC's strategies in the UK and Romania.
- Examination of international market entry strategies.
- Evaluation of the PEST analysis relevant to NEXT PLC's Romanian operations.
Chapter Summaries
BACKGROUND: This section introduces NEXT PLC, a UK-based retailer selling clothing, accessories, and homeware through retail stores, a directory, and international franchises. It highlights their pricing strategy (combining market skimming and penetration), target demographic (20-48 year old middle-class professionals), and recent sales figures showing slight decreases. This sets the stage for the subsequent SOSTAC analysis by providing essential background information on the company and its current market standing.
I. SOSTAC NEXT PLC in Romania: This chapter details the application of the SOSTAC framework to NEXT PLC's Romanian operations. It starts with a situational analysis, utilizing a PEST analysis to examine political, economic, social, and technological factors affecting the brand's performance in Romania. The PEST analysis is a crucial tool for understanding the overall market environment and identifying both opportunities and threats for the business. This section lays the groundwork for developing specific strategies and tactics for the Romanian market.
II. SOSTAC USED BY THE FASHION RETAILER IN THE UNITED KINGDOM: This chapter explores the SOSTAC model as applied to NEXT PLC's operations in the United Kingdom. It delves into the specifics of their product, price, and place strategies in the UK market providing a benchmark for comparison with the Romanian market analysis presented earlier. This comparison highlights the differences and similarities in strategic approaches between the domestic and international markets.
III. USAGE OF STRATEGY IN THE INTERNATIONAL MARKET: This section focuses on the international market expansion strategies employed by NEXT PLC, specifically examining concepts like "glocalization" (adapting global strategies to local markets) and the Ansoff matrix (a strategic planning tool for growth). The chapter analyzes how NEXT PLC has adapted its marketing strategy to suit the diverse requirements of international markets, including potential challenges and solutions.
Keywords
NEXT PLC, SOSTAC model, marketing strategy, Romania, PEST analysis, international marketing, glocalization, Ansoff matrix, pricing strategy, target market, fashion retail.
NEXT PLC Marketing Strategy in Romania: A SOSTAC Analysis - FAQ
What is the main objective of this analysis?
The primary goal is to apply the SOSTAC marketing model to analyze NEXT PLC's marketing strategy within the Romanian market. This involves a comprehensive assessment, encompassing situational analysis, objective definition, strategy outline, tactic detailing, and action planning. The analysis also compares this with NEXT PLC's UK strategy and explores their international market approach.
What marketing model is used in this analysis?
The analysis utilizes the SOSTAC marketing model. This framework provides a structured approach to marketing planning, encompassing Situation Analysis, Objectives, Strategy, Tactics, Action, and Control (the final "C" is not explicitly detailed in this preview).
What aspects of NEXT PLC's Romanian operations are analyzed?
The analysis covers a situational analysis of the Romanian market using a PEST analysis (Political, Economic, Social, and Technological factors). It further examines the company's objectives, strategies, tactics (including product, price, and place), and planned actions within the Romanian context.
How does the analysis compare NEXT PLC's Romanian and UK strategies?
The study compares NEXT PLC's marketing strategies in Romania and the UK, highlighting similarities and differences in their approaches. This comparative analysis offers valuable insights into the company's adaptation to different market conditions.
What international market entry strategies are examined?
The analysis explores NEXT PLC's international market expansion strategies, focusing on concepts like "glocalization" (adapting global strategies to local markets) and the Ansoff matrix (a strategic planning tool for growth). This section analyzes how NEXT PLC adapts its marketing to diverse international markets.
What is the significance of the PEST analysis in this study?
The PEST analysis is crucial for understanding the overall market environment in Romania and identifying potential opportunities and threats for NEXT PLC. It forms the foundation for developing effective marketing strategies and tactics tailored to the specific circumstances of the Romanian market.
What are the key chapters included in this analysis?
The analysis includes chapters on Background information about NEXT PLC, a detailed SOSTAC analysis of their Romanian operations, a comparison of their UK and Romanian strategies using the SOSTAC framework, and finally a discussion of their broader international market strategies, including glocalization and the Ansoff Matrix. A references section is also included.
What are the key themes and keywords related to this analysis?
Key themes revolve around the application of the SOSTAC model to a real-world case study, analysis of NEXT PLC's marketing strategy in Romania, a comparison of strategies across the UK and Romania, examination of international market entry strategies, and evaluation of the PEST analysis's relevance. Keywords include NEXT PLC, SOSTAC model, marketing strategy, Romania, PEST analysis, international marketing, glocalization, Ansoff matrix, pricing strategy, target market, and fashion retail.
What is the target audience for this analysis?
While not explicitly stated, the intended audience appears to be academic, given the structured approach, the focus on analytical frameworks, and the inclusion of a detailed table of contents and chapter summaries. It is intended for academic use, analyzing themes in a structured and professional manner.
- Arbeit zitieren
- Kostadin Ruychev (Autor:in), 2018, Application of the SOSTAC model to the marketing strategy used by NEXT PLC in Romania, München, GRIN Verlag, https://www.grin.com/document/459725
