PROMOTIONAL PLAN

Promotional Plan of Next Plc

Promotional Plan of Next Plc

Introduction

I have chosen Next PLC for retail promotional strategy. Next PLC is basically a retail shop which comprised with footwear, home products, marketing clothing and other accessories. It is situated in the Republic of Ireland and United Kingdom with approximately 550 stores, and they also have almost 50 branches in Asia, Middle East, and Europe. This company is listed on stock exchange of London. Next PLC has major business segments of clothing and other home based accessories. It provides wide range of clothing of women, men, and children. Next PLC was basically established in the year 1864, by Joseph Hepworth as a tailor and initially the name of this company was Joseph Hepworth & Son. Jock Cohen made this company when he got good sales revenue in Joseph Hepworth & Sons.

According to Next PLC website (2012), the company was based on the fashion company of ladies and rainwear. The first retail shop of next was released on 12th February 1982. Hepworth initially bought the chain of Kendalls shops to establish a new Women's wear group of shops.

Next Plc is a very fashionable high street retailer which basically sells clothing at a very reasonable price for all the trendy men and women aged 20 to 40. Next PLC also provides financial services and home based accessories. Next PLC highly controls through five divisions which are Next Retail, Next Directory, Next Overseas, and other activities which include services of property management and telecommunication software. (Chairman, 2011, pp. n.d.)

Next Retail basically controls the high street shops through approximately 330 stores which cover Ireland and UK. Next PLC directory is another division of the mail order partition which also contains the platform of e-commerce. Next PLC Overseas is the division which functions retail outlets in the Asia, Middle East, Continental Europe and the United States through all the franchise agreements.

Discussion

Clothes retailers basically fall into two major categories: initially those who sell own brand clothing and after that, those who sells wear for third party. Main companies of retailers such as the Arcadia Group, and Marks & Spencer are good examples of the first initial group, as are chain operations such as Gap and Next. The majority of independent retailers and the main departmental stores in the UK come in the second group.

Retail stores of clothing have a wide industry which ranges from discounts and low costs retailers through to sportswear, formal wear, exclusive designer boutiques, and independents. The clothing market in UK is comparatively declining market from others. Most of the clothing industry only makes restrained profits. It's not easy to improve the market share in this arena; it needs a high amount of knowledge, energy and money.

Target Market

Next PLC is primarily targeted to the trendy males and females who belong to the high class. Next PLC recognized itself as store of trendy accessories for both males and females. Next PLC is basically the market which is for the people who wants to look ...