In this marketing plan, the execution of marketing strategy of an existing organization that is ‘NEXT’ will be discussed. In this plan the marketing strategies implementation will be discussed in detail. The marketing mix and the targeting, segmenting and positioning strategy of NEXT in China will be elaborated. Through this marketing plan, the aim will be to identify the implementation of marketing strategies through which the NEXT will aim to expand its market share and consumer base. Also, the current situation of Chinese apparel industry and NEXT current market situation in China will also be discussed in detail. The tactics and strategies that the can employ to achieve the given objective will also be discussed.
NEXT plc is the UK based high street multi channel retailer which provides a wide range of fashion commodities ranging from clothing to accessories and home products. The company’s products are designed by styled in house team providing superior quality with a contemporary fashion edge that gives value for money (NEXT plc, 2014a). The company headquarter is in Enderby with around more than 540 retail stores in the UK. The company has a NEXT directory which is a home shopping website and catalogues that has around 4 million active consumers and has services in over more than 70 countries. By being on the web, the company has been able to increase its share by more than 150 percent in last ten years. Also the company’s catalogue provides around 1,400 pages of their collection as compared to 350 pages at the time it was first launched (NEXT Plc, 2014b). To evaluate the external and internal environment of the company presently in China, the pestle and SWOT analysis of the company is discussed as below:
The governmental policies and regulation that impact an organization are the political factors. In Chinese market the political factors included increase tax and regulation relating to transferring business on other areas (cities or regions). These are the political aspects that affects NEXT as well in China (Fogel, 2010).