The SOSTAC is a planning model, developed to help with marketing planning by P R Smith in the 1990s.
SOSTAC stands for:
• SITUATION ANALYSIS: Where are we now?
• OBJECTIVES: Where do we want to be?
• STRATEGY: How do we get there?
• TACTICS: How exactly do we get there?
• ACTION: What is our plan?
• CONTROL: Did we get there?
+ Add the 3M’s
The three M’s – the key resources: Men, Money and Minutes
Men (& women) – Expertise and abilities
Money – Budgets
Minutes – Time (schedules and deadlines)
EXECUTIVE SUMMARY
The SOSTAC plan was developed by P R Smith in the 1990s to help companies with management planning.
SOSTAC is used widely and is one of the most effective planning systems in the world. It was also poll voted to earn its place in the
…show more content…
SWOT Analysis:
Strengths Weaknesses
- Brand Reputation - Low Price Strategy
- Low Price Strategy - Second Mover
- Numerous Goods - Lack Of Global Warehouses.
- Perishable Items
Opportunities Threats
- Market growth in emerging markets - Competition growth
- Acceptance of own label goods (Target, Amazon)
- Trend of healthy eating - Resistance from
- Growth of online shopping local communities. - Rising Commodity Product prices.
- OBJECTIVES FOR WAL-MART:
1. Expand Multi-Channel Initiatives
2. Grow in the United States and Worldwide
3. Improve Returns
4. Making Quality Health More Affordable And Accessible
5. Reducing Energy