While many people seem to use the SOSTAC acronym as a generic term, it derives from the SOSTAC Planning System created by writer and speaker PR Smith in the 1990's, The SOSTAC model and associated methodology are now used by blue chip corporations around the world and also by many smaller businesses and organisations.
As stated in the heading the SOSTAC acronym stands for:
S stands for Situation Analysis - which means where are we now?
O stands for Objectives which means where do we want to go?
S stands for Strategy which summarises how we are going to get there.
T stands for Tactics which are the details of strategy.
A is for Action or implementation - putting the plan to work.
C is for Control which means measurement, monitoring, reviewing, updating and modifying.
SOSTAC MODEL AS STAGE WISE
STAGE 1 SITUATION ANALYSIS WHERE ARE WE NOW?
How are we performing?
What are our distinctive competitive (marketing) advantages?
How effective is our Marketing Mix?
Are we focusing on the best segments with the right type of customer?
Are we using the most appropriate channels for communication and distribution?
What uncontrollable event(s) or trend(s) can impact my business?
STAGE 2 SET OBJECTIVES WHERE DO WE WANT TO GO?
Business Mission?
Business Objectives?
Marketing Objectives – Business Development?
Marketing Communication Objectives?
The SMART Test for Objectives
Make sure your objectives are practical and measurable.
Do they fit the following criteria?
Specific (with numbers)
Measurable (to monitor progress and confirm achievement)
Actionable (can we do it?)
Reasonable (realistically attainable)
Timed (incorporate deadlines)
STAGE 3 STRATEGY HOW DO WE GET THERE?
Segmentation – How do we want to divide up the market(s)?
Targeting – Which segments of the market do we wish to focus upon?
Positioning – How do we want to be perceived in each different target segment?
STAGE 4 TACTICAL PLAN HOW DO WE IMPLEMENT THE STRATEGY?
Which Communication Tools are we going to use?
How are we going to use them?
What message(s) do we wish to communicate?
Are we being consistent across different tools and messages?
Do we have the necessary resources/budgets?
STAGE 5 ACTION PLAN WHO, WHAT, WHEN?
Who is going to do what?
When are they going to do it?
What is the resource allocation for the action?
What are the key performance measurements?
How is performance going to be recorded?
STAGE 6 CONTROL KEEPING TRACK OF PROGRESS
Do action performance measurements relate to objectives?
The purpose of this report is to understand about an e-marketing or electronic marketing, which is the use of information technology in the processes of creating, communicating, and delivering value to customers, and for managing customer relationships in ways that benefit the organisation and its stakeholders. The report of the e-marketing contains the marketing mix, pricing and product of the two website which got completely different product and industry background. The main part of the report is to compare the website with the marketing mix.
INTRODUCTION:
The purpose of this report is to understand about an e-marketing or electronic marketing, which is the use of information technology in the processes of creating, communicating, and delivering value to customers, and for managing customer relationships in ways that benefit the organisation and its stakeholders.
The two website is being analysed and compared with each other has different product and industry. The website is of Nike and Crown Casino.
The website has been compared by the e-marketing strategic called e-marketing mix in which the product, price, place and promotion plays an important factor to compared.
Iwill also discuss about the product and their segmentation and targeting.
THE WEBSITE HOME PAGE AND OVERVIEW:
NIKE WEBSITE
The Nike is the commercial product and consumer good industry which is globally situated and produces a wide range of sports equipment. Nike sells an assortment of products, including shoes and apparel for sports activities like association football, basketball, running, tennis, athletics, golf and for men, women, and children. They currently also make shoes, jerseys, shorts, base layers etc. for a wide range of sports including track & field, baseball, ice hockey, tennis, Association football,basketball and cricket. Nike is well known and popular in youth culture, chav culture and hip hop culture as they supply urban fashion clothing
Sport person are inspired to buy the product. There can be ordinary customer which can be influenced by the sport person or can be the sports person itself.
The company also has a program called NIKEiD at nikeid.com, which allows customers to customize designs of some styles of Nike shoes and jerseys and deliver them directly from manufacturer to the consumer. Nike sells its products in international markets through independent distributors, and online market.
THE WEBSITE HOME PAGE AND OVERVEIW:
CROWN CASINO
The crown casino is totally entertainment complex. It has got various type of entertainment such as gaming floor in which Crown provides the 6 main casino games of Blackjack, Craps, Pai Gow, Poker, Baccarat and Roulette. The Crown Entertainment Complex incorporates several nightclubs, a Village Cinema complex and multiple restaurants, fast food outlets, food courts and shops. The complex also got "Galactic Circus", an electronic games arcade, laser 'tag' game and bowling alley.
The crown has also got five star hotels which are crown tower, crown promenade and crown metropol.The crown has also got the Palladium Room which has a capacity of 1500 people function.
This industry of entertainment is focused on all type of customer, from children to old age people, from business person to tourist person, from gambling person to entertainer type person.
Crown casino website is not selling and product online but giving the information about the gaming floor, restaurants, shops, food court, hotels reservation and booking, etc. this website is information based website.
Crown casino does not belongs to particularly gambling business but it has widespread the business of hospitality industry and tourism industry as well.
E-MARKETING MIX-
PRODUCT STRATEGIES: - The organization can sell merchandise, services, or advertising on the website. It can adopt one of the e-business models, such as online auctions, to generate a revenue stream. The firm can create new brands for the online market or simply sell selected current or enhanced products in that channel. The most astute firms take advantage of information technology capabilities to alter their online offerings. For example, Dell Company allows product customisation in an online purchase.
Nike Company product a strategy is that they allows customer to customize the product as they like and their delivery strategies is also on time.
Crown Casino does not sell any of the product but the website show all the information about the place where is situated. What is the services provider by the crown are the product strategies.
PRICING STRATEGIES: - A firm must decide how product price will compare with offline equivalents. To make this decision, firms consider the differing costs of sorting and delivering products to individuals through the online channel as well as competitive and market concerns. Two particularly important online pricing trends include the following:
·Dynamic pricing: - This strategy applies different price levels for different customers or situations. For examples the internet allows firms to price items automatically and “on the fly” while users view pages, as mentioned in the Dell example.
·Online bidding: This approach presents a way to optimise inventory management. For instance, a few Seattle hotels allows guests to bid for hotel rooms on slow days, instructing its reservation agents to accept various minimum bid levels depending on occupancy rates for any given day. Priceline.com, ebay.com, and many B2B exchanges exclusively using this strategy.
For Nike website the pricing strategy can be dynamic pricing. For different country there can be different prices and for people as well.
And for crown casino there are hotels as well and the hotel are five star so they can keep the online bidding for some of the suites in some seasons.
Place: Many firms use the Internet to distribute products or create efficiencies among supply chain members in the distribution channel.
·Direct marketing: many firms sell directly to customers, bypassing intermediaries in the traditional channel for some sales. In B2B markets, many firms realize tremendous cost reductions by using the internet to facilitate sales.
·Agent e-business Models: firms such as e-bay and E-trade bring buyers and sellers together and earn a fee for the transaction.
At Nike, our challenge is to anticipate what they'll want and be ready with a solution. When we're really good, it's something -- a product, a service, a whatever -- that's so intuitively perfect the consumer hasn't even imagined it could exist. Nike is driving email strategy, sharing results, vendor management, forecasting and expense tracking. You’ll develop and manage all seasonal email marketing
Crown casino is doing direct marketing to the customer providing information regarding the crown casino and targets the footy sport for the marketing.
PROMOTION:
The internet spawned a multimedia of new marketing communication strategies, both to draw customers to a web and to interact with brick and motor customers. Firms use web pages and e-mails to communicate with their target markets and business partners. Companies build brand images; create awareness of new product and position products using the web and e-mails.
The Nike website promotion to the global while choosing the different sports for the different country and doing the marketing from the sport person.
The crown casino also does promotion towards the footy game and footy season and does the marketing from the footy person.
PRODUCT:
Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need. There are three types of product core product, actual product and augmented product.
CORE PRODUCT: - the core product which consumer are really looking for when they buy any product. E.g. in the case of Qantas, the core product is time critical transport
Website of Nike suggests that their core product is all types of sport wear. Its sells all the types of sports uniform of the players from t-shirts to shoes and other stuff.
ACTUAL PRODUCT: - a product’s parts, styling, features, brand name, packaging, and other attributes that combine to deliver core product benefits. For example, a Qantas air ticket to Europe on the kangaroo route is an actual product. The Qantas name, air terminal layout and service, plane seating configurations, crew uniform styling, booking system etc are carefully combined to deliver the core benefit or service.
The Nike website actual product is brand name and logo. It provides the customer the quality product and fashionable sports product from the website to any where in the world though it is a globalise website.
The crown casino actual product are the gambling games and restaurants and all the things which the people entertainment.
AUGMENTED PRODUCT: - The product planner must build an augmented product around the core and actual product by offering additional consumer services and benefits. For example Qantas is providing consumers with a product that meets or exceeds their expectations before and after the flight.
Nike website augmented products are free customisation of nike jersey by putting any name and number behind the jersey. Its also gives free shipping for the product and it has various other products like club kits, Socceroos, etc...
Crown casino website is a information site and does not sell any product but it also got the augmented product which are different types of plays like Rhythms of Ireland, Shannon Noll, Diesel Hits and Blues Tour etc.
Market segmentation
Market segmentation is the procedure a company draw on to categorise its prospective consumers into distinct groupings based on similar characteristics, wants and needs. By doing this, a company can plan particular and detailed marketing operation for a segment, thus leading to more successful marketing outcomes.
As per the Nike website is concerned, the website has segmented the sport industry as football, cricket and rugby etc…
And crown casino website market segment towards the Australia football league in the website its an events show.
In the conclusion of report I would like to conclude that the two sites which are taken by me, According to evaluation criteria which I did use both have good attraction. Both the website were good animated . Nike website is selling product online and crown website is giving the information about the places in crown, events, and hotels booking.
REFERENCE:-
Chandler, Daniel (2002) : Semiotics The Basics. London: Routledge
Foss, B., Henderson, I., Johnson, P., Murray, D., & Stone, M. (2002). Managing the quality and completeness of customer data. Journal of Database Marketing, 10(2), 139-158.
Khouw, Natalia : The Meaning of Color for Gender [WWW document] http://www.colormatters.com/khouw.html
WEEK 1 Topic: THE WORLD CLOCK The statistic is continuously increased, although the death is increasing, but compare with the birth, population is several fold increase. From this link, we can keep an update of the events taking place in the world wether its good or bad such as Births, deaths, greenery, illness, and crimes as per year, month day and minute. It is also available in different languages. However it only has got information about US crimes according to me rather of any other countries. All over i found the website with very good technological power and also it’s a red alert to the people of the world that what problems they are going to face in the future regarding the increasing population the world. The population is the most I felt surprised. On the other hand, the statistic is showing the different of data of environment, nature resource, which showing a data of various information, for example: the Global Warming, CO2 Emissions, Forest Lost, and Forest remaining. I think the link of the website should give all the human of the world. As a human being, we need to know how to protect our planet, doing green environment activities. I think the whole planet should take this information very seriously and think about the solutions which is going to take place in future to stand on a safe side, better and healthy living.
WEEK 2
It was really bad experience with me to purchase online ticket with the one of the online website called travel.com. As I have couldn’t found any ticket for India from any agent in the last year of June. But I found it online from travel.com which was the only ticket I got in those particular days which was suitable for me because it was compulsory to reach India on those days for family function. As I entered all my details and the payment option as well. Everything was absolutely perfect and double check with the details of payment but the things was it was not able to recognise my credit card details. I have tried few times but showed me same problem. Then I stoped and call the customer centre regarding the problem and then he did it manually and it accepted my credit card there. I but could not make it online purchase.
WEEK 3
(1)Consider a restaurant in Sturt Street Ballarat. On the discussion page write down all the offline marketing activities you can think of and then start a separate list and write down all the online activities you can think of.
Answer:
Online Activities:
·Creating business blog
·Website created in an organized & easy-to-browse format
·Website should be attractive and displayed in a user-friendly
·Providing updates about the menu and giving the online ordering facility and take away or delivery facility.
·Providing the google map on the website
·There should be facility to give the customer experience or feedback
Offline activities:
·Creating and designing the brochure and distributing in all the houses and standing on some busy street and distributing them.
·Giving an advertisement in the television
·Giving the discount to the student and pensioners
There is not much of differentiation in both marketing activities, because both offline and online activities showsthe same things; only creating awareness in different methods. Both offline & online activities are as important as one another as they both create marketing perspectives that are important for the business.
(2) Consider two other products/services of your choice. Write down all the offline/online marketing possibilities you can think of?
Product 1. Mobile handset
For the marketing of the Mobile handset, I will be using following offline and online marketing possibilities:
Offline marketing possibilities:
·First of all I will create and design the numerous brochures and marketing materials of the mobile handsets and distribute it to the some potential customers.
·From business cards and letterhead to press releases and brochures, our website address of the mobile instrument of the company should always be listed to drive traffic.
·Now for the introduction of new mobile handset to the customer, company should give advertisement in the leading newspapers, magazine and also make advertising in public place.
·Announce the changes andfeatures of the mobile handset that’s are in website in the newsletteror publicationFor givingcustomers a reason to visit and let them know what can be found online
·Give presentations and talks about our handset and let people know they can find out more information on our website.
Online marketing possibilities:
The look and feel of the businesses should be creative and online material plays an integral role in the development of brand.
·Design attractive website that assists customer for finding the information about mobile hand sets in easy manner.
·The home page, have spot for announcements and events. Current news about mobile hand set should mansion on the home page so our customers can easily find what’s new and will want to check back often to find out the latest information.
·Publish and display the images of the new mobile set on the website so customers can select the best instrument.
·Try to mention all the features of the mobile handset like internet facility, speed, camera’s quality, information about display size, music system, memory, guarantees and warranties etc.
·Make available some tunes and music on website so customer get attracted.
·Update website once in the month so it helps to keep things fresh and new.Who wants to return to a site that never changes?
·Link for online purchasing of the mobile should be their on the website
·How the customer make the payment of their instrument should be mentioned in the web page.
·Customers experience and suggestion for the mobile hand sets are also displayed on the wed site.
Product 2) Books: famous Chain of book stores
Offline marketing possibilities:
Many businesses put a lot of time and attention to building a strong website, but in my eyes, that is only half the battle. When developing marketing plans, I would recommend placing just as much emphasis on offline marketing as online marketing.
·For the introduction of the branches of bookstores, first display advertising in the Yellow Pages.
·Supply brochures and material that include information and address of the store to attract target audience.
·Give presentation in the institutions and in the public place about the books that’s available in our store.
·From answering phones to talking to customers, every employee should know our website address and know exactly what could be found online about our books and other material.
·Create a subscription email newsletter. This is a very track-able marketing tool that will help us gauge how well we are connecting with our target customers of the books.
Online marketing possibilities:
Attractive designs, consistent looks, catchy copy and other design elements can all enhance image and identity, especially in today’s world where websites are a major vehicle to reaching out to the customer base.
·Prepare the well organized web site that fascinate the customer quick finding of the books from the so many available books online.
·Display the images of the stores of the book on the wed site.
·Display the images of the coffee shop which our organization provides to the customer for enjoying shopping with a cup of coffee.
·Mention that our store allows the customers happily browsing behind shop windows is the best advertisement that offer to the potential customers the sample of the book.
·Display the arrangement of the book according to the field of marketing, finance, economics and general books on web site.
·Display the images of the kids section which is think and colorful- just the kind kids love it on the web site.
·With the use of the membership card they can buy the books on some special discount and services from the web site.
·Regular updating of the web site that include new books and material that attract the customer for visiting the web site.
3) What makes a great online product from a marketer’s point of view? How would you measure success?
Availability of the product:
As we know, the success of the products and services relies directly upon ability of the product to sell them. So the company should make it easy for customers to find the product of their choice in online marketing.
Determination of reasonable product price:
If your prices come in too low, you won't make a reasonable profit. Go too high, and you may weaken the demand for your offerings. There is some simple, yet definitive measures we can take to accurately price of the product or service.
E.g.Price of Proactive product of U.S.A is reasonable because company is directly providing the product to the final consumer without the help of intermediaries so the profit of the intermediaries’ organization can be saved.
Customers Experience Management (CEM):
Companies have to manage with experience of the customer that they feel while using the product of the company. Online marketing companies should ask to the customer for their experience and recommendation and should work on it. By exercising creative judgment and a keen awareness of consumer motivations, Companies can greatly increase its chances of owning the market.
E.g. Crossword is trying to sell not just books, but love of the books. It puts premium on the complete experience of the customers- including element the customer may not really note.
Best value for money:
Customers want the best value for their money, and thus they will almost always do a quality comparison and make purchases based on the best price for the best value so the quality of the product should be very good in comparison to other company’s product.
E.g. Apples iPods are costly but having excellent quality of music so customer gets the value for their money and they are willing to pay for this quality.
After sales service:
Customers are also concern with the service provided by companies after sales that include delivery on time, warranty and guarantee of the product. With the satisfaction of the customer company can achieve their vision.
E.g. Proactive cosmetic product – a little product works great as online product as customer need to place order online and sending it and they get product at their home in any country.
Wide range of variety:
Company should provide customers with vide range of variety so they have the option for Choice.
E.g. Apple Company is providing iPod shuffle in five colors and iPod nanoin nine different colors.
Advertisement of the product:
Company should advertise the product by providing links on internet so customer should go directly to the product.
Ease of payment:
Company should make the payment ofproducts easy in online marketing for the customers.
Company can measure the successes of their product by analyzing the followings:
1)Customer satisfaction
2)Market Share of the product
3)Sales of the Products
4)Profit from the products
5)Repetitive purchase of the product by customers.
6)Brand equity
4) Preview the pricing of two products and consider some dynamic pricing models.
Answer:The airline industry offers an outstanding example of how dynamic pricing works against the airlines best interests. Customer then begins to seeking out a better price or confirmation that this is the best possible price they can get.
(5) What are some of the issues these (pricing) models raise?
Price dynamics model issue can be raised by
·Off peak time, when there is no sale of good or service.
·Whenthere is economic recession or down market
WEEK 4
Q1. An example from my own experience of poor e-Marketing
It was really bad experience with me to purchase online ticket with the one of the online website called travel.com. As I have couldn’t found any ticket for India from any agent in the last year of June. But I found it online from travel.com which was the only ticket I got in those particular days which was suitable for me because it was compulsory to reach India on those days for family function. As I entered all my details and the payment option as well. Everything was absolutely perfect and double check with the details of payment but the things was it was not able to recognise my credit card details. I have tried few times but showed me same problem. Then I stoped and call the customer centre regarding the problem and then he did it manually and it accepted my credit card there. I but could not make it online purchase.
Q2.List 5 examples of poor e-marketing on your personal blog page.
1. Misleading information or not enough information or content about the topic.
2. Bad navigation, no easy interface and friendly function.
3. Information but cannot buying from the internet.
4. The website with no listing price on the product.
5. Non-supporting international deliveries from website sales.
Q3.Provide one example(from Ballarat or your experience) ofeach of the six levelsof eMarketing
Level 0 - No online marketing activities
Level 1 - Basic Web Presence
Level 2 - Simple Static Information Site
Level 3 - Simple Interactive Site
Level 4 - Interactive site supporting transactions with users
Level 5 - Fully interactive site supporting the whole buying process
Hi Nikunjkumar Patel
I am doing my bachelor degree in commerce and major in accounting but I was very much interested in computer based subject like e-business fundamental, e-marketing and information of technology. This subject has taught me about the technology of the marketing and many more business ways. While doing the subjects i have learned mny things like importance of search, how to make a survey online and many small things like animation, digital photography and slide show, website coding-designing etc.
My hobbies are to chat with the people online, playing online games like poker and mafia, and reading the articles or reading the story books which I get easily on the internet and I don’t have to buy the books.
This wiki page is a part of my educational activity. It contains lab activities and exercise of eBusiness Fundamentals. I learnt a lot about online business from this subject, so I would like to share my knowledge through this wiki page.
