Marketing management- next Article Example | Topics and Well Written Essays - 2000 words

Marketing management- following - Article ExampleIt is a British retailer marketing clothe, footwear, accessories and home productions. In India the growth of retail business is at its budding stage. Organized retail business has a grasp of nearly 7% in Indian Market and there is umpteen opportunity for its development. Off late big scars and fashion houses are aiming towards the Indian market. Due to the immense cross culture factor or globalization, trends from across the lump are getting accepted by far and large. Even in India, people are getting influenced by various other cultures and the Indian convention is happily embracing it. Apparently growth of retail business in Indian market is at its best. Under such circumstances, it would be the accurate period for succeeding(prenominal) to hit the Indian market. Even though it has three branches in India, it should start eyeing other locations in India. Not many people are sure of Next plc, so Next should keep in mind of having phenomenal launch in India. Lot of retail chains are getting naturalized in India. Indian players like Future Group, RPG Group, reliance Retail, and global players like Wal-Mart, Metro etc are having their presence in India. Still the organized retail orbit in India is not actually big. Hence Next can enter into Indian market and it has lot of potential to grow with its wide product range. I have considered area of study to be clothing. There is lot of competition in apparel industry because people have started becoming more brand conscious in clothing segment. Hence it is very important to position yourself well in such an industry. B - PLC Stage PLC (Product Life Cycle) is the course of products sales and profits over its lifetime. It involves five distinct stages. Product Development Introduction Growth Maturity Decline Clothing is a necessity for every human being. In a country like India the scope for branded product (in clothing) is very high. India is a country whi ch is fast developing and the purchase power of people in India is increasing. So the share of wallet for branded apparels is surely increasing. That is the reason why all big names in the clothing segment exist in India. But the entry of these companies has happened recently and they have still not captured the market. Next in India is at introduction stage. As it has entered the Indian market recently and at the moment has only three stores in India. As far as Bostons Matrix is concerned next has low market share but the market they are in has high growth. So next is in the question mark quadrant. C - chump Market India is one of the emerging markets and it is becoming more and more important buyer in our global economy. India has a nice percentage of world substance population so if not right now, in few years, India will be one of the most important buyers in the world (sayeconomy.com). Hence it is very important to choose the right segment in Indian market to succeed. Next h as three stores in India (Two stores at Delhi/Gurgaon and one store at Mumbai). This understandably shows that the segment they have goated is the urban/metro segment. The purchasing power of people in these area is comparatively more than those who stay in small cities and villages. Next has also targeted the middle class and upper middle class. When you sell products which are luxurious item and not necessarily necessities, then an organization usually target middle class and