SOSTAC for Virtual Reality Commerce

1. STAGE 1: SITUATION ANALYSIS - WHERE ARE WE NOW?

• How are we performing?
o Assess the current performance of Virtual Reality Commerce in the market.
• What are our distinctive competitive (marketing) advantages?
o Identify the unique features and advantages of our Virtual Reality Commerce
platform.
• How effective is our Marketing Mix?
o Evaluate the effectiveness of the 4Ps (Product, Price, Place, Promotion) in the
context of Virtual Reality Commerce.
• Are we focusing on the best segments with the right type of customer?
o Analyze the target customer segments for Virtual Reality Commerce and their
alignment with business goals.
• Are we using the most appropriate channels for communication and distribution?
o Review the current communication and distribution channels for Virtual Reality
Commerce.
• What uncontrollable event(s) or trend(s) can impact my business?
o Identify external factors such as technological advancements or market trends that
may affect Virtual Reality Commerce.
2. STAGE 2: SET OBJECTIVES - WHERE DO WE WANT TO GO?
1. Business Mission?
o Define the mission of the Virtual Reality Commerce business.
2. Business Objectives?
o Specify overarching business goals related to Virtual Reality Commerce.
3. Marketing Objectives - Business Development?
o Establish marketing objectives that contribute to business development in Virtual
Reality Commerce.
4. Marketing Communication Objectives?
o Determine specific objectives for marketing communication within Virtual
Reality Commerce.
5. The SMART Test for Objectives
o Ensure that objectives are Specific, Measurable, Actionable, Reasonable, and
Timed.
3. STAGE 3: STRATEGY - HOW DO WE GET THERE?
1. Segmentation - How do we want to divide up the market(s)?
o Identify and segment the market based on Virtual Reality Commerce needs and
preferences.
2. Targeting - Which segments of the market do we wish to focus upon?
o Select target segments that align with business goals and have a high potential for
Virtual Reality Commerce adoption.
3. Positioning - How do we want to be perceived in each different target segment?
o Define the desired perception of the Virtual Reality Commerce platform in each
identified target segment.
4. STAGE 4: TACTICAL PLAN - HOW DO WE IMPLEMENT THE STRATEGY?
1. Which Communication Tools are we going to use?
 o Utilize a mix of communication tools such as social media, VR experiences, and
online advertising.
2. How are we going to use them?
o Develop a comprehensive plan for the deployment of communication tools in
Virtual Reality Commerce.
3. What message(s) do we wish to communicate?
o Craft clear and consistent messages that highlight the immersive and unique
aspects of Virtual Reality Commerce.
4. Are we being consistent across different tools and messages?
o Ensure uniformity and consistency in messaging across various communication
tools.
5. Do we have the necessary resources/budgets?
o Allocate appropriate resources and budgets for the implementation of the Virtual
Reality Commerce communication plan.
5. Action - Gantt Chart (Timeline for Implementation):
Task Start End Date Duration Responsible
Date (Weeks)
Market Research on VR Adoption 1/1/2024 15/1/2024 2 weeks Marketing
Identify Competitive Advantages 16/1/2024 31/1/2024 2 weeks Strategy
Assess Current Marketing Mix 1/2/2024 15/2/2024 2 weeks Marketing
Customer Segmentation Analysis 16/2/2024 28/2/2024 2 weeks Strategy
Develop SMART Marketing Objectives 1/3/2024 15/3/2024 2 weeks Strategy
Crafting Positioning Strategy 16/3/2024 31/3/2024 2 weeks Strategy
Selection of Communication Tools 1/4/2024 15/4/2024 2 weeks Marketing
Message Development and Consistency 16/4/2024 30/4/2024 2 weeks Marketing
Check
Resource and Budget Allocation 1/5/2024 15/5/2024 2 weeks Finance

This Gantt chart outlines the timeline for key tasks related to the implementation of the VR
Commerce marketing strategy. It helps in visualizing the sequence and duration of activities.

Note: Dates are for illustrative purposes and can be adjusted based on the actual project
timeline.