Comprehensive Marketing Report: Next Plc, UK Retailer

This report provides a comprehensive analysis of Next Plc's marketing strategies. It begins with an introduction to marketing concepts and the company profile, followed by an explanation of marketing processes, roles, and responsibilities. The report then delves into the marketing mix, examining the 7 Ps (product, price, place, promotion, people, process, and physical evidence) and providing a comparative analysis with H&M. A detailed marketing plan for introducing new clothes made from raw materials is also presented, including vision, objectives, marketing mix elements, marketing budget, and STP (segmentation, targeting, and positioning) analysis. The report concludes with a discussion of monitoring and evaluation measures and a summary of key findings.

MK

Table of Contents
INTRODUCTION...........................................................................................................................1
First Section.....................................................................................................................................1
Covered in PPT...........................................................................................................................1
Second Section.................................................................................................................................1
Part A: Marketing Mix................................................................................................................1
Part B: Marketing Plan................................................................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing is considered as a aggregation of overall task that are performed through
company in order to expand, develop and deliver value for satisfying consumers requirements
into marketplace (Gummesson, 2015). For this report the chosen company is Next Plc which is a
leading British multinational retailer. Its headquarters is in Enderby, Leicestershire, UK. The
purpose of this report is to explain marketing concepts with its current and future trends. Various
marketing process as well as roles and responsibilities of marketing functions. Interrelations with
other departments and value of marketing role. Apart from this marketing mix and plan are lso
mentioned in this report.
First Section
Covered in PPT
Second Section
Part A: Marketing Mix
Marketing mix is considered as a set of actions or tactics which a firm applied in order to
promote their brands and goods or services into market area. It includes 7 P's such as products,
price, place, promotion, people, process and physical evidence (Hastings. and Domegan, 2017).
Thus, two companies marketing mix are mentioned below:
1

Basis Next Plc H&M
Products NEXT Plc mainly specialise in
selling of shoes, clothing etc. for
men, children and women. All
these products are designed in
house by expert teams and are
sourced instantly from its
suppliers. Company design its
products in good quality but at a
reasonable price (Kucuk, 2017).
It will help an organisation to gain
competitive benefits easily and
also retain long term position in
marketplace.
H&M deliver broad range of products
that involves clothing and accessories in
their portfolio. Also, it introduce new
product line after each continuous time
interval through collaborating with
several designers. It mainly target its
product to young age people.
2
Illustration 1: Marketing mix
Source: Marketing mix, 2018

Price It is another essential element of
marketing mix which will used by
an organisation to sell their
products at affordable price.
NEXT Plc used market
penetration and market Skimming
pricing strategies which will assist
them in attracting large number of
customers easily. This element
assist an organisation to
distinguish the brand from their
challengers by offering various
price ranges based on the product
quality and brand name.
It maintain medium pricing strategy fro
their quality products and keep older
inventory in discount. This strategy of
pricing grab the attention of young
clients towards outlet.
Places Company has an omni channel
that allows purchaser to easily
make a buy via smart phones,
catalogues, telesales and tablets.
NEXT Plc has around 539 shops
across the globe and have
currently opened more shops
since the credit crunch in 2008.
company also has a global
website that attracted large
number of customers from across
the world
Respective firm headquarters is situated
is in Sweden that control H&M
networks which are spread into approx
50 countries. It offer products by e
stores in which consumers can expand
several category and online payment
consequently. The products production
took place where cost of labour is less.
Thus, reduces the whole firm cost.
Promotion This element of marketing mix
introduces as a best part of
promotion used an organisation to
advertise their products and
Respective company involves in
promotional activity in order to spread
awareness regarding its apparel quality
at affordable cost. Hence, it utilises
3

services around the world
(Nirschl and Steinberg, 2018).
NEXT Plc mainly specialise in
selling of cloths, shoes etc. to
customers. In order to promote
these product, company used
different channels such as fashion
magazines, TV ads and many
other print media. All these ways
highly help an organisation to
increase customer base and
market share also. There are also
different channels available for an
organisation to advertise their
products to customers such as
social media, e-mail marketing
etc. All these will also assist
NEXT Plc to maintain their brand
reputation in customer's mind.
television to promote their brands.
Moreover, also used tools of social
media such as Facebook, Instagram
etc. as well as exclusive designer to
show case its brand.
People It is a most essential element of
marketing mix. In NEXT Plc,
there are different employees
work with each other to attain
long term goals and objectives. In
order to retain employees for long
time, company will used different
motivation theories which will
also assist an enterprise by
increasing its sales. For example:
Motivated employees are main
asset of an organisation which
The H&M staff perfrorm on rotational
basis in order to offer the clients.
Thereafter train the workers at all levels
to gain large profitability. Also, they tie
up with various clothing designers in
whole world (Olaison and Taalas,
2016). It aids firm to bring current and
innovative trends.
4

will help them by treating
customers with more friendly.
Thus, it will also help them by
maximising customer base.
Process This element of marketing mix
introduces to the effective process
of keeping its purchaser more
happy speedy billing facilities and
easy acquirement of goods in its
shops online as well as offline.
Next Plc attains this by
employing competent worker and
paying more attention to client
grievances. Company also
followed supply chain
management process which will
help them in reducing its wastage
and additional cost of inventory.
H&M focus towards maintaining longer
period relation with their existing and
potential clients. Fro this it has their
consumer care services so that various
problems of the consumers can be
resolved.
Physical
Evidence
This element of marketing mix is
mainly related with company's
logos, labels, colours and many
other ways. All these aspects help
an organisation to attract large
number of customers and attain
competitive benefits within given
time period. The shops are also
introduces as as physical evidence
of the brand and is it spot of
moment of fact with the clients.
H&M assure that its merchandise is of
premium quality with advanced trend.
Its stores have effective atmosphere and
proficient employees. They also, invite
famous people like celebrities in their
launching events for developing large
market buzz.
5

Part B: Marketing Plan
Marketing Plan is considered as formal document that includes whole marketing
department efforts which will perform in future (Tarka, 2017). It states various planning activity
and marketing techniques for company. Hence, as an assistant marketing manager of Next Plc,
planning to introduce new clothes made up through raw materials.
Vision: “ To drive profitability by introducing new clothes that are made up through raw
materials”.
Objectives: To launch new clothes and gain profitability of 15% in 2 years.
Marketing mix for new clothes made up through raw materials:
Marketing mix refers as a crucial marketing element, it aids company to develop its
marketing plan for new stores. Next Plc use this for its new stores are given below: Product: Product is considered a things which company is planning to launch into new
products. For Next Plc, it is new clothes made up through raw materials. Price: This is the essential component fro firm and clients. Usually customer are
concentrated towards price so, it have to be affordable. Price of new clothes made up
through raw materials will be as per their categories and specification. Place: Place where company wish to launch their goods. Next Plc is launching their new
products firstly in UK region.
 Promotion: It is the manner by which firm develop products awareness among clients.
Thus, Next Plc facilitates advertisements upon various online sites and TV.
Marketing Budget:
This is considered as the marketing plan in respect of cost (Waheed and Yang, 2017). It is
an approximated cost that will be required through respective firm to do whole activities like
distribution, advertisements, etc. thus approximated cost is £ 25,000.
STP analysis:
This is generally known as segmentation, targeting and positioning. Moreover, it
develops value and effectiveness of marketing. Organisation segment their market for identifying
clusters of potential clients then target customers for specific marketing communication which
are developed to position their offering and also to stand out from competitors. STP analysis of
Next Plc are as follows:
6

 Segmentation: Herein, Next Plc choose the large market place and distribute this in
segments. In this bases of segments are determined and all profile segment are
developed. It also ensures that appropriate segment are chosen. Thus, respective
organisation select large market as well as distribute it into smaller units.
Basis Next Plc (New clothes made up through raw
materials)
Gender Both male and female
Age All age
Market UK region
 Targeting: Next Plc determine to whom they have to target. Thus, they ascertain whole
segment to check the existence of value in whole market segment. They utilises
differentiated approach and target the mid and upper level individuals.
 Positioning: At last positioning is performed for whole target segment. Herein, products
are positioned in segment. Next Plc understand as well as developed a USP fro their
brands in that segment. Also, they position its new products by advertisements through
famous personality.
Measures for monitoring and evaluating progression:
For evaluating and observing marketing plan Next Plc consider some measures so that it
can accomplish goals (Zook and Smith, 2016). Above marketing plan can be observed and
measured through requirements and preferences. Also, action plan will aids respective firm
manager to evaluate appropriately so that their expected objective can be attained in given time
period. Also, this will assists them to sustain for long time into competitive market.
CONCLUSION
As per the above report it have been concluded that marketing plays a significant role in
company. Few marketing trends like social marketing, artificial intelligence and many are ustilse
through firm. Process of marketing is applied to examine the marketing opportunities, selecting
target market place, developing marketing mix and maintaining marketing efforts. Few
marketing functions roles and responsibilities are product distribution. Standardisation etc.
interrelation of marketing with functional departments such as hr, finance and so on. Role of
7

marketing is valuable and significant for organisation. Two firms are compared in respect of
marketing mix as well as marketing plan are develop to attain the objectives of the company.
8

REFERENCES
Books and Journals
Gummesson, E., 2015. 14. From relationship marketing to many-to-many marketing. Handbook
on research in relationship marketing, p.301.
Hastings, G. and Domegan, C., 2017. Social marketing: Rebels with a cause. Routledge.
Kucuk, S. U., 2017. Promotion. In Visualizing Marketing (pp. 59-82). Palgrave Macmillan,
Cham.
Nirschl, M. and Steinberg, L., 2018. Steigende Bedeutung des Influencer Marketing im
Marketing-Mix von Unternehmen. In Einstieg in das Influencer Marketing (pp. 1-3).
Springer Gabler, Wiesbaden.
Olaison, L. and Taalas, S. L., 2016. Marketing, Consumer Resistance and Digital Play. The
business of gamification: A critical analysis.
Tarka, P., 2017. Managers’ beliefs about marketing research and information use in decisions in
context of the bounded-rationality theory. Management Decision. 55(5). pp.987-1005.
Waheed, A. and Yang, J., 2017. The effect of e-marketing and outdoor media advertising on
exploratory consumer buying behavior. International Journal of Customer Relationship
Marketing and Management (IJCRMM). 8(1). pp.30-48.
Zook, Z. and Smith, P. R., 2016. Marketing communications: offline and online integration,
engagement and analytics. Kogan Page Publishers.
Online
Marketing mix. 2018. [Online]. Available through
<https://www.tutor2u.net/business/reference/the-extended-marketing-mix-7ps>
9

Gummesson, E., 2015. 14. From relationship marketing to many-to-many marketing. Handbook
on research in relationship marketing, p.301.
Hastings, G. and Domegan, C., 2017. Social marketing: Rebels with a cause. Routledge.
Kucuk, S. U., 2017. Promotion. In Visualizing Marketing (pp. 59-82). Palgrave Macmillan,
Cham.
Nirschl, M. and Steinberg, L., 2018. Steigende Bedeutung des Influencer Marketing im
Marketing-Mix von Unternehmen. In Einstieg in das Influencer Marketing (pp. 1-3).
Springer Gabler, Wiesbaden.
Olaison, L. and Taalas, S. L., 2016. Marketing, Consumer Resistance and Digital Play. The
business of gamification: A critical analysis.
Tarka, P., 2017. Managers’ beliefs about marketing research and information use in decisions in
context of the bounded-rationality theory. Management Decision. 55(5). pp.987-1005.
Waheed, A. and Yang, J., 2017. The effect of e-marketing and outdoor media advertising on
exploratory consumer buying behavior. International Journal of Customer Relationship
Marketing and Management (IJCRMM). 8(1). pp.30-48.
Zook, Z. and Smith, P. R., 2016. Marketing communications: offline and online integration,
engagement and analytics. Kogan Page Publishers.
Online
Marketing mix. 2018. [Online]. Available through
<https://www.tutor2u.net/business/reference/the-extended-marketing-mix-7ps>