Next Plc Case Study Example
Next Plc is UK’s second-largest consumer retailer that focuses on mid-aged citizens between 25 to 44. It is a renowned retailer that deals with footwear, apparel, and products for domestic uses. Next PLC focuses on retailing, customer service management, and household items.
This report analyzes the internal and external environment of the company.
The data assembled in the report helps to build a report which will give the organization’s vision and lets them know their current position in the market.
The mission of Next Plc
The company aims at providing its customers with fashionable clothing and accessories. Secondly, it aspires to be the first-choice clothing retailer for fashionistas or trend followers who look for style, quality, and distinction from their apparel.
A value analysis of the company highlights activities that take place with companies and Analyses them to offer a competitive advantage of the company.
the next plc gains from Online shopping and established a good brand image by its customer service, Out-of-the-box design, quality of the products, and Affordable price. The next PLC retail store covers up a large area and also includes a lime store.
Like any other business, the fashion industry also suffered a loss in revenue due to the recession. The same goes for the next PLC. They plan to manage the operational expenses, making proper use of the business strategy, and returning the skills to ensure A positive standing in the market. This is how they want to emerge stronger than before.
The Enterprise prioritizes maintaining a healthy relationship with suppliers and customers
As per clamps theory, The biggest difficulty faced by the fashion industry is the ever-changing nature of the market. The nature of the market is changing at a rapid pace. Additionally, the business environment is also changing.
By its Positive cash flow, lowest balance sheet, and secure Financial strategy, Next PLC made a comeback from a bad financial year.
Since fulfilling customer needs, demands and expectations lie at the core of the Marketing concept, Enterprises Need to figure out a marketing strategy keeping the consumer perspectives in mind.
Situation analysis studies both the Internal factors that recognize opportunities, threats to generating revenues and sales.
Internal analysis of Next Plc
an effective strategy formulation and implementation help businesses to achieve success in a competitive market. Internal structure and factors are controllable by n enterprise. They are existing in the management marketing Research and development, Information Technology activities of a business enterprise.
Next Plc Company structure
Next PLC Established itself as a forefront dealer and retailer in the mainstream fashion industry and targets mid-aged individuals aging from 25 to 40. The Enterprise places itself as one of the leading retailers in the UK fashion industry dealing with the high quality of footwear and apparel.
The company logo got updated in 2007, where the upper case letter got changed to a lower case. The next PLC is a Tier 2 business that’s in stars. Stars are businesses or products conflicting in the market they are relatively stronger than their competitors.
It is one of the leading of the UK’s fashion retail store that manufactures good quality, and stylish accessories, apparel, and footwear. It does so through three main channels of distribution:
Next Retail: a chain of over 500 stores in the Eire and UK.
Next International-with more than 170 overseas stores
Next Suppliers -that sources design and buys Next Branded Stores
Next Directory -a transactional website and catalog with over 2 million active customers
Ventura -contact center service partners that serve clients keen to leverage their call center administrations
Next Stores are spacious enough to accommodate and improve shopping convenience. It’s about 30000 square feet revamped store in BlueWater Shopping Complex. Stores got tiled in place of wooden flooring. Wood veneer panels and wave effect got incorporated, mannequins got introduced and store lighting got lifted.
Company Culture of Next Plc
As per Miniard, Engel, and Blackwell, Culture refers to the set of values, artifacts, and ideas that help individuals to interpret, evaluate and communicate as members of society.
Culture is the accumulation of norms, traditions, and rituals among members living within a society.
Four types of company culture exist. The Next PLC includes a principal board of committee that includes the Nomination Committee, Remuneration Committee, and Audit Committee. All the committee work independently. It implies that individuals have a role to play where decisions are taken by the analysis, logic, and members of the committee.
To gain sales and generate more revenue, Next plc should Increase the billboard and advertisements by 2%. This should help the company to increase sales, range of products served, and maintaining quality. They should increase Internet functionality to boost directory sales they
The next PLC can also introduce a 3D body scanner for accurate measurements. They should Specially advertise the adult fashion is, the main product delivered by the fashion retail store.