Marketing Plan Development ExerciseYou are required to prepare an outline marketing plan based around the SOSTAC model by PR Smith. You should use a University as a case study. Your existing knowledge can be supplemented by visiting the university website.Providing answers to the following questions will help guide your research. In the absence of actual data or information, please feel free to make assumptions.2. What does success look like on campus? Off campus (peer institutions, funding agencies, alumni)?3. What goals would help achieve this success4. Strengths-What are the university’s successes?-What makes them successes?-What factors (people, products, systems, etc.) contributed to the success?-What would stakeholders say are the university’s strengths 5. Weaknesses-What are the university’s weaknesses?-Would stakeholders agree with these identified weaknesses?-What changes could the university make to improve the situation?-What factors (people, products, systems, etc.) contributed to the weaknesses?6. Opportunities-What are some realistic opportunities that the university might be aware of?-Are there any changes or trends in the marketplace that might present an opportunity?-How can these opportunities be taken advantage of?7. Threats-Who is the competition for the university?-What is the competition doing that works?-What are the similarities and differences between the university and the competition?8. Who can make the top goals happen?9. Strategies-What new strategies will work?-Are these strategies measurable?10. Messages-Why do students choose the university. What are the benefits?
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