Communication Plan for Next Plc: A Marketing Report
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This report discusses the communication plan for Next Plc, a British multinational clothing brand, to promote their products effectively in the market. It includes SWOT and PESTLE analysis, STP analysis, marketing mix, media plan, production plan, budget plan, and evaluation proposals.
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Table of Contents INTRODUCTION...........................................................................................................................4 MAIN BODY...................................................................................................................................4 Company Overview...................................................................................................................4 Communication plan..................................................................................................................6 Communication Plan.......................................................................................................................6 Personal Reflection on team plan development..........................................................................8 CONCLUSION................................................................................................................................9 REFERENCES:.............................................................................................................................10 Books and Journals...................................................................................................................10
EXECUTIVE SUMMARY Communication plan is a process to promote the product effectively in market. In this report there will be preparation of brief communication plan which includes various aspects. There is discussion about new audience which could be targeted in order to achieve more profits n market. For further instance in this report there will be evaluation of different essential component which includes budget plan, production plane etc. the organisation needs to formulate various strategies to promote the product effectively in market.
INTRODUCTION Communication plan can be described as a process which helps the organisation to use various channels. They can communicate effectively with the target audience and provide the essential product or service. There are various gaols and objectives which can be achieved by the company in an effective manner(Rust, 2020). Next plc is a British multinational clothing brands which provide various fashion accessories to the customers. The organisation has seen an significant growth over a period of time. They offer excellent quality products to consumer at an affordable prices in market. The company was founded by Joseph Hepworth in Leeds in 1864. In this report there will be brief discussion about launching and effective communication plan with the help of digital marketing tools. To launch this plan there needs to be allocation of budgets and various other aspects in a significant manner. On the other hand in this report there is analysation of different marketing research which needs to be evaluated by the organisation in and effective manner. For further instance, this report aims to analyse about understanding the different channels and marketing tools which can be used by the company to fulfil the demand and supply among various customers. For further instance, there will be discussion about multiple target models. Through this the company can segment their audience in market. MAIN BODY Company Overview Brand is a name or term which help the products viability and status in market. The brand value makes the organisation unique and the consumers understand the products quality of a significant brand. Next plc is a British multinational organisation which offers quality clothing products to the consumer(Mothersbaugh, and et.al 2020). They had managed to acquire a huge share in industry by providing the products which fulfil the consumer needs and wants. Next plc is significantly expanding their business in different regions. The organisation has 700 stores in United Kingdom. Due to diversity in their products and services. They are generating and increased amount of revenues in market. Swot Analysis This is the tool which helps the company to evaluate different factors. By understanding the factors they can achieve great results in market(Granizo, and et.al 2021). There are different components in this tools which is mentioned below:
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Strengths –Next Plc provide different quality products to consumer which helps them to generate more revues in market. Weakness –The main weakness of Next plc is that that the management needs to do financial planning effectively. This helps them to improve the capital effectively. They can improve certain areas in their organisation. Opportunities –Net plc needs to introduce new and diversified products which is the opportunity for them in the fashion industry. This will help them to generate more revenues in market. Threats –The major threat for Next plc is the technology disruption. They need to invest heavily in technology to achieve greater results in market. Pestle Analysis Pestle analysis is a macro environment tool which helps the organisation to understand different external forces in market(Feinman, 2018). There are multiple components in this framework which is mentioned below: Political factor –There are various laws which can affect the organisation performance. Brexit has impacted the Next Plc in a negative manner. The transition period of Brexit is affect their operations. Economic factor –The retail industry is significantly affected by the economic factor. In relation to Next plc they need to focus on the economic factors. They will help them to achieve a sustainable growth in market. Social Factor –Next plc is providing the products according to the consumer needs and desires. This helps them to attain maximum customer satisfaction and they had achieved positive brand image in industry. Technological Factor –Next plc needs to implement new technology. In this they are facing different challenges the organisation needs to implement different technological operations to carry out the operations effectively. Legal Factor –Next Plc is following all the legal factors which is abide by the government. The main focus of the organisation is to follow all the legal implications to manage the working operations appropriately. Environmental Factor –Next Plc main vision is to reduce the use of carbon footprint. They are utilising the resources in an effective manner to preserve the environment.
Communication plan Smart Objectives SPECIFIC –To increase the sales of the organisation by 10 % MEASURABLE –To measure the performance different KPI indicators ill help which include customer retention and profit maximisation ACHIEVABLE –This goal can be achieved by 4 to 5 months by the organisation. RELEVANT –This objective is relevant to improve the organisation profits in market. TIME – BOUND –This objective can be achieved with a time period of 5 to 6 months Communication Plan It is a process which helps the organisation to communicate effectively with the audience. They are able to enhance their profits in the market. In relation to Next plc they are offering clothing products to consumer. The organisation needs to use various advertising methods to attract new customers in market(Strycharz, and et.al, 2019). New methods of advertising includes social media platforms like Facebook, Instagram etc. through this the company can achieve and effective position in market. The are heavily investing in technology to achieve a significant growth in retail industry. The use of these channels will help them to achieve more profitability in market. STP analysis This model will help the organisation to provide the products and services to the essential audience(Desai, 2019). This will majorly helps them to enhance their profits in market. In relation to Next Plc this model has three different components which is mentioned below: Segmentation –This stage will help the company to segment the audience in groups. They are able to formulate every different aspects to understand the consumer needs and wants. In relation to Next plc they are able to enhance the overall profits on market by understanding the consumer desires and wants. They can offer the clothing products to the consumer in accordance to the age, gender and other perspectives which is the vital role for segmentation. Targeting –In this stage the organisation can target the desired audience which will buy their product or services. Next plc can formulate a plan in which they are able to attract different customers with the help of creative and engaging campaigns. This will help the
organisation to maximize their profits in market. This particular campaign will target the audience which age between 19 to 45 year. Positioning –This is the stage n which the organisation understand their position in market(Viglia, Zaefarian,and Ulqinaku,2021). Next plc is providing the quality products to consumer which will help them to improve their market position in industry. Marketing Mix Marketing mix is a process which incudes various factors it is a set of tactics which helps theorganisationtosuccessfullypromotetheproductsinmarket.Therearefourmajor components in this framework which is described below: Price –This s the essential component which helps the organisation to attract more audience. Effective pricing of products will help them company to generate more profits in market(DeJesus, 2021). In relation to Next plc they are offering the competitive price of products which help them to attract different individual in market and maximize the overall profits of company. Product –This is the stage in which the company provide the essential product to consumer which fulfil their needs and wants in an effective manner. Next plc is providing the high quality clothing product at an unaffordable prices to the individual. This will help them to attract different customers. On the other hand, they could collect increase number of profits in the market. Promotion –In this new digital era the organisation can use certain new channelsto promote the products effectively in market. Next plc is using the new digital channels which includes social media platforms like Instagram, Facebook etc. They are able to enhance the profits. With the help of different promotion channels the organisation can create engaging content which will attract different consumers in market. Place –This is the stage in which the organisation distribute the products with different channels. Next plc is providing the clothing product in the stores which is in different regions. On the other hand, the product is also available on the online platforms. Media plan Media planning is a process to determine what are the sources which can be used by the organisation to promote their products in market. In relation to Next plc they are using the social media channels to promote the products. This is one of the new trend to promote the products
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and services essentially. It includes platforms like Facebook, Instagram etc. They are creating engaging campaigns which will improvise the overall sales of the organisation. Production Plan It is a process to develop the essential product of service. It covers different aspects whichneedstobeevaluatedinaneffectivemannerbytheorganisation.NextPlchas implemented the technological advancements in their production structure. This helps them to Improve their performance(Deepak, and Jeyakumar,2019). They can fulfil the demand of the products in market. Budget Plan This is the process which helps the management to manage the budget. They can allocate the budget as per the product and services. In relation to next plc they are prepared a brief plan in which there is budget set for the allocated tasks. Setting the budget will help them to provide the products to consumers at low costs. This will help them to gain a competitive advantage in marker and enhance the sales. The budget of this campaign is 20000 $ in which various expenses might be covered which included digital promotion through social media channels, and the cost to prepare the product. Evaluation Proposals It has been evaluated from the Project plan there are various essentials which needs to evaluated effectively by the organisation. There is detailed structure which is prepared for the organisation. Through which they can successfully provide the new product to the consumer, Next plc is can maximize the overall sales in market by offering quality products to consumer. Personal Reflection on team plan development While working in a team there are various strategies and approaches which is used by me to mange the working effectively. The main focus is to build and effective and sustainable campaign through which the organisation can attract a lot of customers and maximize their overall profits in market(Appel, and et.al 2020). On the other hand, while preparing the campaign there are various new aspects which is measured by me in an effective manner. The plan which I had developed enhanced my overall skills and capabilities. This will help me to attain and effective growth in future.
CONCLUSION From the above report, it has been analysed that communication plan is a strategic process which helps the organisation to promote the products to consumers in market effectively. On the other hand, in this report there is brief discussion about various new strategies and approaches which can formulated by the company in order to achieve success in market. Along with that, in this report there is evaluation of swot and pestle analysis which helps the company to understand the factors which is affecting their performance in market. For further instance, in this report there is analysation of budget plan and product plan which plays a crucial role for the company.
REFERENCES: Books and Journals Appel,and et.al 2020. The future of social media in marketing.Journal of the Academy of Marketing Science,48(1), pp.79-95. Deepak, R.K.A. and Jeyakumar, S., 2019.Marketing management. Educreation Publishing. DeJesus, G., 2021. Integrated Marketing Communication Plan: Event Scheduling & Reservation Management App. Desai, V., 2019. Digital marketing: A review.International Journal of Trend in Scientific Research and Development,5(5), pp.196-200. Feinman, D., 2018. Integrated Marketing Communication Plan. Granizo, X., Sánchez, J., Naula, B. and Pazmiño, D., 2021. Communication Plan as a Tool for Business Positioning.ESPOCH Congresses: The Ecuadorian Journal of STEAM, pp.608- 628. Mothersbaugh, and et.al 2020.Consumer behavior: Building marketing strategy. New York, NY, USA: McGraw-Hill Education. Rust,R.T.,2020.Outside-inmarketing:Why,whenandhow?.IndustrialMarketing Management,89, pp.102-104. Strycharz, and et.al, 2019. Contrasting perspectives–practitioner’s viewpoint on personalised marketing communication.European Journal of Marketing,53(4), pp.635-660. Viglia, G., Zaefarian, G. and Ulqinaku, A., 2021. How to design good experiments in marketing: Types, examples, and methods.Industrial Marketing Management,98, pp.193-206.