Marketing Fundamentals Analysis and Evaluation for Next plc during COVID-19 Pandemic

Marketing Fundamentals

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Marketing is a set of actions adopted by businesses to attract potential clients and
customers. Marketing is a procedure which includes promoting, researching, distributing and
selling of goods and services (Acosta, Crespo and Agudo, 2018). Marketing helps businesses to
implement growth strategies in order to achieve goals of operations. Marketing impacts a
business in various ways which includes raising brand awareness of company in market,
expanding revenue, building trust or goodwill for brand and increasing engagement of potential
customers within organisation. Emergence of COVID-19 has affected marketing as well as
business processes of businesses worldwide (Visser and Et. Al, 2021). Due to COVID-19
marketers of businesses has to change their marketing strategies in order to survive and thrive in
this stressful environment. A great marketing strategies helped companies to cope with this
COVID-19 situation by carrying on their business operations with objectives to sustain in market
for long run. Next plc is the selected company in this report which is a multinational company
and was founded on 1864 in England, United Kingdom.
This report consist of processes and stages of marketing in a business organisation. It also
consists of impact of COVID-19 on internal and external environment of a company. This report
includes role of marketing environment in achieving goals and objectives in an organisation. At
last it also includes analysing marketing mix strategies adopted by company to cope and thrive in
COVID-19 pandemic.
MAIN BODY
Summary of organisation
Next plc is a multinational retail company having headquarters in England, UK and was
founded by Joseph Hepworth on 1864. Next plc is one of the largest clothing retailer in UK. It
operates in providing a vast range of fashion products which includes footwear, clothing as well
as home products in market. This company has approx 700 stores globally out of which 500
stores are located in United Kingdom and the rest are situated across Asia, Europe and Middle
East. Next plc generates a revenue of around 3.28 billion pounds in 2021 and 44,193 number of
employees working with it.
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Marketing
Marketing derives of under taken activities taken by management of an organisation with
objectives to attract more customers while defeating competitive rivals by generating more
profits to sustain in long run (Ambrose and Waguespack, 2021). Marketing activities includes
researching of market place in terms of demand, taste, etc. of customers, promoting products,
distribution of products etc. Businesses practice marketing process by adopting various
marketing strategies (Visser and Et. Al, 2021). Next plc is involved in various marketing process
in order to enhance its growth in market by generating more profits. In aspect of Next plc main
objectives of adopting a marketing plan is to achieve short term goal of company while making
essential measures to achieve long term objectives of company. Business objectives of Next plc
is to satisfy needs of customers by providing them quality products in market in order gain
profits to sustain in long run. Marketing environment is generally a combination of internal as
well as external forces affecting capabilities of companies in order to create and develop
relationship while serving its customers. Marketing environment is consists of internal as well as
external environment. COVID-19 has created an impact in marketing operations of Next plc.
Due to COVID-19, Next plc has to change and develop its marketing strategies in order to
sustain in market. Marketing environment of Next plc has been influenced because of COVID-19
pandemic. In order to determine impact of COVID-19 in business operations of Next plc can be
analysed by evaluating its internal and external environment and which are evaluated as below-
Internal environment-
Internal environment consists of internal factors that exist within an organisation as well
as creates an impact on its operational activities (Butaney, 2020). In aspect of Next plc its
internal environment consist of consumers, clients, suppliers, employees,etc. Due to COVID-19
internal environment of Next plc has been affected in various ways. Various analysis of
determining internal environment of Next plc has being adapted under consideration of COVID-
19 which are evaluated as follows-
SWOT analysis-
SWOT analysis is a framework adopted by management of a firm to determine its
internal environment in terms of its strengths, weaknesses, opportunities along with threats in
market (Terech, 2018). Analysing swot analysis in context of Next plc is evaluated as below-
SWOT analysis of Next plc
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