SOSTAC model

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Summary

What is the SOSTAC model? Meaning.

SOSTAC is the acronym to summarize the main steps of a strategic marketing process by Paul R. Smith (1990). SOSTAC stands for:

Situation Analysis. Where are we now? Compare: SWOT Analysis | PEST Analysis | Marketing Mix | Competitive Position
Objectives. Where do we want to go? Compare: Ashridge Mission Model | 5 P's Model | SMART
Strategy. How are we going to get there? Compare: Market Segmentation | Positioning
Tactics. Some more details of the Strategy. Tools. Communication.
Actions. Implementation, putting the plan to work. Action Plan. Compare: RACI Model | CSFs and KPIs
Control. Track progress through measuring, monitoring, reviewing, updating and modifying. Compare: Performance Management | Balanced Scorecard

The beauty of the SOSTAC method is its simplicity. The acronym is useful to remember the main steps in creating a marketing plan.

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Top 5 Strategy Pitfalls

Strategy Errors, Strategy Traps, Strategy Barriers, Strategic Planning, Strategy Process
Strategy is complex and companies are making many mistakes while working on it. Stuart Cross identified 5 frequent strat (...)

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Compare with: 5 C's of Marketing Strategy | Feasibility Study | VMOST | Customer Relationship Management

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