Principles and Practices of Marketing

Principles and Practices of
Marketing

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Background related to marketing strategies of the company.................................................3
Information required on the practical promotional mix policies undertaken by the company.
................................................................................................................................................4
Theoretical aspect of promotional mix in an organisation.....................................................8
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Marketing principles and practices are defined as the dimensions which are undertaken
by business in order to upkeep various areas of marketing. In this concept different aspects are
included such as situational analysis, research of market, targeting and segmentation of market
and many more factors as well. In business some of the basic principles are undertaken in order
to boost sales and profit such as marketing mix (Lewnes and Keller, 2019). With the use of
promotional strategies functions of promotions gets more effective. Marketing principles are
providing adequate path for attainment of overall objectives. With the assistance of marketing
strategies sustainability can be achieved by the business. This report is covering all the aspects
of marketing under the background of Next Plc. Next Plc is a British multinational clothing
manufacturer company which was founded in the year of 1864 and headquartered in UK. This
report is examination of various promotional activities adopted by Next Plc in order to make
their tactics more effective.
MAIN BODY
Background related to marketing strategies of the company.
Next Plc is a clothing manufacturer which was founded in the year of 1864 by Joseph
Hepworth. In the current time the company can upkeep their market share by using sum of
competitive strategies such as sales promotion and advertising. Next Plc is having wider range
of products in which they are keeping prominent position in the marketplace which lead them to
face high end growth and success. Next Plc is one of the prominent companies which are
known for their market growth and aggressive campaigns. Next Plc is known for their
Excellency in fashionable clothing of high quality as well. The company is having major
motive to provide high quality clothing to their customer which is low in cost so that to satisfy
demands of customers.
Next Plc is targeting at marketing strategies in order to maximise their sales and to
provide product differentiation and to meet needs of customer. This process is designed by
them in a very systematic manner which is explained as under:

 Targeting: This is associated with comprehensive marketing plan in which various
segments are differentiated on the basis of life cycle, income level and social status
(Wood, 2016). For Next Plc their products are highly differential in nature which is
fulfilling demands of various regions.
 Segmentation: Within this market is divided into identifiable groups as per the obtained
response. Each segment is consisting of their own characteristics which give business
viability to perform business operation. For Next Pl on the basis of demographic
segmentation market is being divided by them.
 Positioning: Within this strategy various plans are prepared in order to improvise
market image and to provide distinct position in minds of customer. For this Next Plc is
making quality clothing so as to attain desired goals.
Information required on the practical promotional mix policies undertaken by the company.
Next Plc is having high diversity in their product offerings as they are providing range of
clothes for men, women and beauty products as well. The company is known for their trendy
cloths and stylish fashionable accessories.
Promotional mix is the process in which various methods are used by company in order
to promote their product so that to present the same within market in a very considerable and
attractive manner (Wrigley, 2017). Promotional strategies are keys to impart success for the
business. For Next Plc they are using various activities within this aspect in order to attract
huge customer and attain growth for long term. By this high loyalty is generated among
customer and more customers are persuaded to but their products. For this marketing consultant
of Next Plc is adopting various promotional tools and strategies which are elaborated as under:
ADVERTISING
Transit advertisement: This is a type of advertising which is displayed on public
transport such as trains, bus or metros, subways and many more. This is a stable advertisement
which is static in nature and lasts for longer duration.
Retail advertisement: This is a type of advertisement in which advertisement is displayed on
various locations such as stores, malls and other public areas. This advertising requires large