Marketing Strategies of Next PLC - Segmentation, Targeting, Positioning and Marketing Mix

This presentation discusses the marketing strategies of Next PLC, a retail company in the UK. It covers the STP (Segmentation, Targeting, Positioning) strategy and the 7Ps of the marketing mix. The presentation also includes recommendations for the company such as offering additional benefits for customers, introducing new products, and using social media platforms to reach a larger audience.

NEXT PLC

Introduction
 Marketing is an essential aspect which include activities related to showing
and advertising organisation brand, products and services in the best
possible manner.
 Next PLC is operating in retail industrial sector with large base of
customers. The presentation focuses upon various marketing strategies of
Next Plc.
 The presentation covers Segmentation, Targeting and Positioning strategy
along with the marketing mix strategies of Next Plc.

Company Overview
 Company’s mission: “to be natural choice retailer in the United Kingdom for fashion aware men and women
who expect distinction, style and quality from their quality”.
 Products: Footwear, home products, clothing or accessories.
 Head Office: Next Plc headquartered in England, UK.

STP Discussion
Segmentation:
 In terms with Next PLC demographics segment of this company include both
genders male and female who are young professional in the age group of 20 and
48.
Targeting:
 Target market of Next PLC is range of consumers those who are around 20 to 48,
as these are fashion conscious as well as price sensitive.
 It has been underlined that customers income segment market of Next PLC other
consumers who are middle class consumers.

STP Discussion
Positioning:
 In terms next PLC it is position as a company with affordable pricing and with moderately high fashion trend
and modernity in their products.
 Next PLC are high on fashion with a little variability in their pricing strategy.

The Marketing Mix (7Ps)
 Product: Higher quality and fashionable designed products
 Price: Neutral pricing strategy
 Promotion: Next Plc emphasizes more upon smaller campaigns rather than large
scale advertising comparatively from other rivals. Also promote their products
and services from their official website.
 Place: More than 500 stores Next PLC. Also offer their products through other
channels that include directory which is a catalogue from where consumers can
order and receive their purchase by post. Along with this company take
advantage of certain online channels.

Cont…
 People: Next PLC is having individual under its sales team. Next PLC
also have employees those who are working in its consumer service
department. Next PLC also have individual those who work with
suppliers as to acquire raw materials.
 Physical Evidence: Next PLC of offer products with distinct colour
packaging .
 Processes: Organisation install certain systems where retailers can
easily get notified when the inventory level are low

Conclusion
 This report states that, STP stands for segmentation targeting and
positioning through which organisation can place their products to get
right customers.
 Marketing mix also plays essential role in identifying the key aspect that
help organisation to develop marketing strategy

Recommendation
 It is recommended to Next PLC to have extended additional benefits for customers those who purchased the
product such as delivery and credit warranties, after sales service, helpline and more.
 Companies is also recommended to introduce new product according to the latest trend, test them before going
to full commercialisation.
 Company is recommended to introduce allowances and discounts and lower prices for shorter period of time as
to attract a greater number of consumers comparatively to rivals.
 Next is also recommended to take use of psychology pricing within which company price their products that
seems to be lower.

CONCLUSION
 Next Plc is recommended to open up it shops on social media and offer their products on these platforms along with
social media post.
 Next Plc is recommended to take use of multiple media channels and social media platforms like Facebook, Instagram.
Twitter and more to reach large base of consumers.
 Company is also recommended to hire influencers on social media and engage in blogging as to promote their products to
increase acceptance of their products.
 Organisation is recommended to make sure that they provide incentives to sales force such as bonus for meeting targets,
commission for their sales.
 Next PLC is also recommended to offer environment friendly packaging

References
 Upadhyay, A., Kumar, A. and Akter, S., 2021. An analysis of UK retailers’ initiatives towards circular
economy transition and policy-driven directions. Clean Technologies and Environmental Policy, pp.1-9.
 Beskarina, I.R., 2021. New Marketing Strategy to Increase Sales in the Digital Transformation Competition in
Indonesia a Case Study of PT XYZ. Jurnal Ilmu Sosial Politik Dan Humaniora, 4(1), pp.35-41.
 Kovač, I., Palić, M. and Tolić, M., 2021. THE IMPORTANCE AND SIGNIFICANCE OF THE
MARKETING MIX ELEMENTS IN A FASHION RETAILING. InterEULawEast: journal for the
international and european law, economics and market integrations, 8(1), pp.15-38.