Proposal for Innovative Idea by Next Plc

This proposal outlines an innovative idea for Next Plc, a British multinational company, to improve its business. It discusses the benefits of the idea and ways to successfully implement it.

PROPOSAL

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Innovation and idea generation theory........................................................................................3
Proposal for explaining innovative idea by Next Plc in terms of its benefits and ways to
implement its successfully..........................................................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Innovation is being defined as the transformation of ideas into reality. The business
operate in the external environment and because of this there are many changes taking place
within the external environment which need to be adopted by the company. The reason
underlying this fact is that if the company will not adapt to these changes then they will become
obsolete and consumers will not like this. The present study is based on next PLC which is a
British multinational company dealing clothing and footwear brand which was founded in the
year 1864 by Joseph Hepworth. The present study will outline different innovation theories in
order to develop a new idea for improving the business. The present report will outline of
proposal including the marketing target audience costs relating to the implementation of the idea.
MAIN BODY
Innovation and idea generation theory
There are many different theories of innovation which can be used in order to innovate in
the product and services of the company will stop the reason underlying this fact is that there are
many different changes taking place within the external environment and all these changes need
to be adopted by the company (Nambisan and et.al., 2017). Hence for this next PLC uses the lean
innovation management theory. This is a theory which majorly focuses in managing innovator
projects and involves the process of innovation from stop there are many different changes
taking place within the external environment and it is not necessary that each and every change is
of benefit to the company for stop hands for this next PLC undertakes the innovation life cycle in
order to evaluate the fact that whether the idea is viable or not.
With the market analysis it was evaluated that the latest current trend within the fashion
industry is the use of virtual fitting rooms. The virtual fitting room is a technology where in a
person with help of the virtual reality and augmented reality can analyse the fact that whether the
outfit will be looking good over the person or not. This is particularly because of the reason that
I'm due to the current covid-19 situation people are not comfortable in going to the stores to buy
clothes. Hence with help of this virtual fitting room the person can identify the fact that whether
the outfit will be looking good on them or not (Haefner and et.al., 2021). In addition to this with
the help of this virtual fitting room the person can also provide suggestions to the company that

how they need the material and designs of the clothes. Hence it can be stated that with help of the
virtual reading room the consumer can customise their own clothes and suggest it to next PLC to
make it.
With the help of lean innovation management it was evaluated that there is a innovation
life cycle which can be a system in success of the development of new idea (Frishammar and
et.al., 2019). This life cycle starts with investigation where in the company investigates the
market and try to analyse the loopholes within the market which can be converted into an
opportunity or innovative idea for stop this investigation will assist next PLC in identifying the
areas where there is need of development. The next stage is to Idea to evaluate the new idea. This
is the most crucial important stage because here the company analyse and evaluate the new idea
that whether it will be successful or not. The next stage is of designing building and
experimenting. In this stage the company next PLC tries to develop the idea theoretically and
design and build it and try some experiment with that Idea.
This idea is developed within the product or service of the company and is being
launched. The next stage is of test launch where in the new service of the virtual fitting room is
being launched for some target consumers. After launching on them the feedback is taken from
the consumer that whether they like the virtual fitting room or not. In accordance with the
feedback that is if the feedback is positive then it is launched all over the stores of next PLC. In
addition to this if this idea is not successful then the suggestions of the consumer are kept in
mind and changes are done accordingly. After making the changes the alternative virtual fitting
room is again tested on those consumers only and if it is successful then it is launched fully.
Hence with the help of the lean innovation management it is clear that the effective
investigation is very necessary. The reason underlying this fact is that if the investigation is done
in deeper manner than this outlines the major fat that whether the idea will be successful or not.
In addition to this the investigation is done in deeper manner than this will provide many
different ideas to next PLC in order to innovate and improve the performance. After the
investigation the analysis is also very essential for next PLC. In case of virtual fitting room with
help of current trend analysis it was evaluated that this new idea will be successful because it is
currently training among the consumers (Bazaki and Wanick, 2019). This is due to the fact that
because of pandemic the consumers or not going to store and trying new clothes and because of
this the virtual fitting room will get successful for next PLC.

Thus in the end it can be stated that time to time researching within the market and
innovating is very essential for companies to get successful. This is particularly because of the
reason that with good and speedy innovation the consumers are attracted towards the company
and this increases the sales and operational efficiency of the company.
Proposal for explaining innovative idea by Next Plc in terms of its benefits and ways to
implement its successfully
Why the idea is right for the business: The new and innovative idea for Next Plc is considered
to be a potential idea as it will provide valuable service to customers in terms of both an efficient
and easier technology to be used for changing attires just by swiping for online businesses. By
doing so, mass participation can be achieved from potential customers by generating lead
through such an innovative concept among modern and highly demanding customers (Fauziah
and Supriyanti, 2021). By creating a real avatar of oneself, it is easier to attract more customers
to the online platforms of the business as if they like the look they get after changing attires, they
would be get motivated to pay for the product very easily. When any movements like shaking
hands and dancing will be initiated by an individual while trying on different attires, then the
image does the same which is possible through the installation of augmented reality technology
in the virtual fitting room. Such a live experience enjoyed by business to their customers leads to
making shopping a fun instead of just filling on shopping baskets. This fun creation among
customer leads to higher sales revenue generation for the online businesses like Next Plc.
The benefit derived from the idea to Next Plc: There are many benefits that could be derived
from the idea of offering the additional services in terms of virtual fitting room for allowing
customers to make purchase on the basis of what is exactly and best suited and fitted to them
(Ripollés, Blesa and Martínez, 2020). The idea would allow for changing clothing and shoes on a
virtual basis to the online customers of the related products, so that they could make a better
choice among the available alternatives. Some of the benefits derived from the idea are as
follows:
 Businesses like Next Plc can have an emotional level of connection with their clients and
customers. Through this innovative tech idea trying on with several attires just like a
game results in falling in love with making shopping from the business’s online platforms

again and again and this leads to more creation of sales revenue for the businesses
(KUROVS, 2019).
 The problem poor fit can be overcome easily by the online clothing and shoe businesses
and results in losing of potential by the companies like Next Plc, but this technology
would overcome this problem by providing an idea about correct fit. Therefore, brand
loyalty can be enhanced, customers can be retained and unnecessary expenses on the
ground of returning and exchanging issues can be avoided by the business. Accordingly,
profitability can be enhanced (Sentana and et.al., 2017).
 Real time tracking of shoppers and customers act of trying and rejecting a clothing
products are helpful for businesses in conducting market testing where results are
generated at an earliest possible way about the customer’s taste and preferences.
Therefore, businesses can modify their offerings according to the customer’s desires and
obtain the benefit of higher customer satisfaction.
 More customers will be attracted, retained for long term, and accordingly, ensures
business sustainability and survival if customers are satisfied with the Next Plc.’s
products and services (Erdur and FINDIKLI, 2020).
Successful implementation of the idea: The idea so developed must be implemented in a
successful manner because at this stage of implementation, there is much more consciousness
required from the side of the marketing and management team of Next Plc. A very great idea can
be failed if the launching and implementation is not done in a proper and required manner. First
of all, there is a budget that has been prepared before initiating any launching of products or
services. The team comprising of experts and experienced will be created for carrying out the
launching successfully (Fauziah and Supriyanti, 2021). Then next there has been a well framed
strategy for marketing the concept of virtual fitting room which has been decided to promote
through the social media networks. The launching team comprising of marketing experts has
created a buzz strategy, so that enough word of mouth marketing and promotion can be done.
And there has been enough stock created of the product like clothing and shoes for which the
customers are actually attracted through this technological concept. It has been decided to market
this pattern of selling clothing and shoes in order to differentiate Next Plc.’s way of offering
from their customers, so that customers who are finding problems in finding best for their attires
can be attracted towards Next Plc.’s platform for making their clothing and shoe purchases.

Marketing, target audience and costs of the idea: These three are the major factors for taking
into account by every marketing team in order to achieve the end goals of the business which
nothing but more sales, more profit and higher customer’s satisfaction (Ripollés, Blesa and
Martínez, 2020). In the given case where a new product offering idea has been generated for the
Next Plc., will be marketed through various digital channels such as social media, website of the
company itself and other paid advertisement sources such as pay per click and influencer
marketing. And for these of these sources there will be a distinct content created like videos for
social media and articles and blogs for company’s website.
The target customer for this idea would be middle-aged people ranging from 18 – 45 years and
particularly those who are highly influenced to make online purchases for their various needs.
The cost of the idea has been projected for payment towards technical team in developing such
technology for the company and also payment made to the team created for successful launching
of the idea and other miscellaneous expenses has been projected. And the total cost comes to
£5000 for the company which is planned to be achieved within two years from the launching of
the idea.
CONCLUSION
From the above report it has been concluded that how a business should analyse each and
every proposal that comes there way by evaluating each and every aspect of the proposal. In this
report the business proposal of a new innovative idea of Virtual fitting room has been evaluated
for the suggesting Next Plc., regarding the potentiality of this idea.

REFERENCES
Books and Journals
Nambisan, S., and et.al., 2017. Digital Innovation Management: Reinventing innovation
management research in a digital world. Mis Quarterly, 41(1).
Haefner, N., and et.al., 2021. Artificial intelligence and innovation management: A review,
framework, and research agenda✰. Technological Forecasting and Social Change, 162,
p.120392.
Frishammar, J., and et.al., 2019. Opportunities and challenges in the new innovation landscape:
Implications for innovation auditing and innovation management. European
Management Journal, 37(2), pp.151-164.
Bazaki, E. and Wanick, V., 2019. Unlocking the Potential of the Salesperson in the Virtual
Fitting Room: Enhancing the Online Retail Experience for Fashion Brands.
Fauziah, Z. and Supriyanti, D., 2021. Influence of Business Process Maturity Model as a
Business Architecture Planning Proposal. ADI Journal on Recent Innovation
(AJRI), 2(2).
Ripollés, M., Blesa, A. and Martínez, L., 2020. UCV-E2: fitting your business proposal in seven
sessions. In How to Become an Entrepreneur in a Week. Edward Elgar Publishing.
KUROVS, J., 2019. ANALYSIS OF BUSINESS MODEL DEFINITIONS AND PROPOSAL
OF A NEW DEFINITION OF SOCIALLY RESPONSIBLE BUSINESS MODEL
Boriss KUROVS.
Sentana, E., and et.al., 2017. The social profitability of business incubators: a measurement
proposal. Entrepreneurship & Regional Development, 29(1-2), pp.116-136.
Erdur, D. A. and FINDIKLI, M. A., 2020. A Conceptual Model Proposal for Co-Creation of
Social Value: Insights from Social Entrepreneurs. İstanbul Gelişim Üniversitesi Sosyal
Bilimler Dergisi, 7(1), pp.1-20.