Unit 11 Marketing Research Project Assignment - Next Plc

Unit 11 Marketing Research Project Assignment - Next Plc

Introduction

This Unit 11 Marketing Research Project Assignment Next Plc is processed in order to measure the need of marketing in Next. Marketing is essentially required in order to make promotion or public aware about the product and its feature. With the help of adequate level of marketing next is able to promote their products in their respective market and in front of their customers. With the help of marketing effective promotion is made in order to promote the product in the respective market and helps in understanding customers.

Task 1

Introduction

Marketing is the effective tool which get utilised in order to build adequate level of communication among company and customers. The main aim of marketing is to increase the value of their product in their respective market. Marketing is based on the target market, marketing segmentation and consumer behaviour. Next Plc is British Multinational clothing, footwear and home product retailer. They become largest clothing retailer in UK on the basis of sales. In order to expand their business unit they need to adopt adequate marketing strategy (Elliott, et. al., 2014).

Rational to the research: This research study is performed over “Need of Marketing in Next”. Marketing is essentially required in order to increase their market share in adequate manner and helps in getting competitive advantage over their competitors. Marketing also help in targeting effective segment as well as in promoting their products within their respective market. It is essentially required to conduct marketing well on time(Elliott, et. al., 2014). Marketing is essentially required in order to promote their product in the market or make their target customers aware about their products available in the market. It is very important to make selection of adequate marketing technique in order to promote their product within their market. Marketing must be performed in effective manner as it put impact directly over their sales. With the impact of effective marketing their sales might get increase and vice-versa.

Research Aim & Objectives: The aim of this research study is to make evaluation of measures in context to the need of marketing in Next. In order to attain the aim of research study there are some objectives needed to attain such as: -

• Evaluate the benefits rendered by the marketing to the Next?
• Evaluate the measures rendered by the marketing in order to increase the level of sales? (Elliott, et. al., 2014)

Research Method: There are effective levels of methods are available in order to conduct the research program in adequate manner. For conducting research program in effective manner three methods are available such as multi method, mix method and mono method.  All methods make inclusion of different approaches in order to gather effective set of information.  The approaches are qualitative and quantitative approaches (O'Driscoll, 2010). For this research study mix method is utilised where combination of both approaches get utilised in effective manner and helps in getting both kind of information for rendering adequate level of support to the research study. Both kind of information such as theoretical (quality) and statistical information is gathered with the use of it. This collection of information helps in making effective evaluation of the information (O'Driscoll, 2010).

Data analysis method: For the purpose of data analysis different methods are available in the form of systematic peer review, survey evaluation, biblio-metric analysis and case study analysis. But as the data is gathered with the help of survey then method of survey evaluation get utilised in adequate manner. With the help of this method all that gathered data with the help of survey program get analysed in adequate manner and helps in extracting the required information through it. The analysis of data gets performed within the time frame with the use of this method(Chajka, 2013).

Research questions: The set of research questions are set in order to extract the required information with the help of the findings and other information gathered. The set research questions are as below such as: -
What are the various opportunities in NEXT?
Is marketing play a vital role in success of organization development?
What will be the marketing impact on Next for feasibility and viability?

Literature review

Marketing is the effective process of analysing, planning, implementation and controlling such programs in order to promote their products within their market and help them in achieving set organisational objectives. Marketing is the effective tool in order to build adequate level of communication among company and their customers and the main aim is to increase the value of their customers. There are various techniques get utilised under marketing such as target markets, market segmentations and consumer behaviour (Chajka, 2013). Marketing mix is the effective tool of marketing and it makes inclusion of 4P’s such as price, product, promotion and place.

• Place:  t become very important to promote their product at such places where it is demanded most by the customers as it helps in increase in their sales.
• Product: Product is the live item of the company which get utilised in order to satisfy the need of customers (Miquel-Romero, et. al., 2014).
• Price: While pricing decision it become very important for them to fix adequate price which helps in recovering their incurred costs in adequate manner along with some share of profits and also satisfy the need of the customers.
• Promotion: It becomes very important to make adequate promotion of the product in order to make their customers aware about their product (Miquel-Romero, et. al., 2014).

Importance of marketing: There are various importance of marketing in context to the Next Plc. such as:

• It helps the Next Plc. in order to make introduction of the new products in their respective market.
• With the help of adequate marketing Next Plc. become effective in order to increase production and sales of their existing products.
• With the help of adequate marketing Next Plc. effective reduce their cost incurred over sales and distribution (Miquel-Romero, et. al., 2014).
• It helps in increase in their market share as well as increase in their overall profitability.
• It helps in increase in communication and modes of transportation within their market.
• It also helps in getting information related to their customers’ needs and demands.
• It helps in increase in overall demand of product within their market.
• Marketing helps in aware large market share about their products and also enhance their overall sales (Budic & Andrlic, 2011).
• It helps in attaining success and development for Next Plc.
• It helps in knowing the customer behaviour
• It helps in selecting adequate techniques in order to promote their product within their market.

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Research Methodology

Research approach

• Qualitative approach: This approach get utilised for the purpose of getting the theoretical and quality information for evaluation in order to extract relevant and useful information. This information can be gathered from various secondary sources such as journals, reports, article and books. The information gathered from these sources having adequate level of quality under it and renders adequate level of support for measuring facts and figures in adequate manner. Due to its quality feature it get utilised directly for extracting adequate level of information in answering the set research questions (Mamtora, 2015).
• Quantitative approach: This approach get utilised for the purpose of getting the statistical information for extracting information to support the research study motive. This information is gathered from different primary sources and it get collected raw. Due to raw nature of the information gathered it become necessary to make analysis of the information before utilising it in answering the set questions in context to research topic (Mamtora, 2015).

Data type

• Primary data: Such data which is gathered for first time and having raw in nature related to the current trend only. This data is gathered manually either by conducting surveys or interviews. This data is gathered for first time and with this effect it is termed as primary data. This data is gathered in the huge quantity and before utilise it for answering set questions it become important to analyse in adequate manner.
• Secondary data: Such data which is properly analysed, evaluated and represented in adequate manner is termed as secondary data. This data is gathered from different effective sources such as websites, journals, reports, and books. This data may not relate to the current trend but having effective level of quality in it (Mamtora, 2015).

Data collection: There are effective and numerous techniques are available in order to make data collection such as surveys, interviews, and many more. For this research study survey is conducted with the use of the questionnaire over their target population. Effective data is gathered with the use of questionnaire (Pickard & Childs, 2013).

Sampling: Data is gathered with the use of the questionnaire in order to conduct survey over target population by the researcher. Huge amount of information is gathered with the help of it and due to lack of adequate time period it is not possible to analyse whole information so it is essentially required to extract sample out of it. For extracting sample for analysis random sampling method is utilised (Walter, 2013).

Research evaluation techniques:

• Systematic peer review: The process of gathering information from all available peers and analyse them in effective manner is termed as systematic peer review. This technique demands lots of human force for the purpose of gathering and evaluating the information in effective manner (Walter, 2013).
• Survey evaluation: The process of gathering information with the help of conducting survey program and then analysing such information is termed as survey evaluation technique. This technique get utilised only when information is gathered with the help of the survey program.
• Biblio metric analysis: The process of gathering information from the books or articles or journals or reports and analysing of this information it termed as Biblio-metric analysis. This technique required information collection with the use of these sources as it rendered theoretical information related to the topic in adequate manner. It also attains adequate level of quality in it.
• Case study analysis: The process of gathering information in the form of case studies and analysis of information is termed as case study analysis. This technique requires lots of time for data collection as well as it evaluation (Liamputtong, 2013).

The data is gathered with the help of survey then method of survey evaluation get utilised in adequate manner. With the help of this method all that gathered data with the help of survey program get analysed in adequate manner and helps in extracting the required information through it. The analysis of data gets performed within the time frame with the use of this method(Liamputtong, 2013).

Limitations: Every activity having some limitations with it and with this effect this research study has also some limitations in the form of availability of time period, limited available resources, limited availability of finance, approvals and permissions. These limitations become barriers for this research study and affect the progress of research study in adequate manner and make delay in the completion of this research study (Hughes, 2012).

Overcome from limitations: There are certain ways to get overcome from these limitations such as in order to make completion of research study well on time prepare action plan and perform all activities accordingly and in systematic manner. Took required permission and approvals form the authorised personnel well in advance so that it can’t create problem at the time of data collection (Hughes, 2012).

Ethical consideration: Ethical consideration related to the research study make inclusion of various factors such as use of relevant information in ethical manner, building transparency, feasibility and validity, and can be utilised by anyone for their purpose. Used data must be trustworthy and effective for the purpose of utilising in other research study. In order to make the used information trustworthy it become necessary to make it referenced and does in-citations (Hughes, 2012).

Significance: This research study is beneficially utilised by the Next Plc. in order to make promotion of their products within their target market. Marketing is effective tool which render adequate level of benefits to the Next Plc. in order to make their customers aware about their products. There is effective need of making adequate level of improvements in their marketing strategies as there are effective changes are noted down in performing marketing such as digital marketing. It is very important to remain innovative and update in order to sustain their competitive advantage in front of their competitors (Check & Schutt, 2012).

Action plan: Action plan is consists of different set of activities in order to conduct the research process in systematic manner and get completed well on time. Below is the table making inclusion of all the activities along with time duration such as: -

Gantt chart

Finding and Analysis

This section makes inclusion of the analysis over the gathered information from different sources. For gathering data with the help of questionnaire survey is conducted over 100 different customers in the UK market. But it is not possible to make analysis over 100 responses so with the help of random sampling method sample of 25 responses it taken out (Lisanti, 2016)and get analysed below in effective manner such as: -

Analysis of the responses made over the questionnaire in survey program such as: -

Table 1: - Marketing help in promoting product in the market.

Analysis: Majority of the customers get agreed with the statement as in order to promote respective product effective marketing is essential. Next Plc. is needed to make use of effective marketing in order to make promotion of their products in adequate manner (Terkan, 2014).

Table 2: - You visit NEXT every alternate day

Analysis: As per the responses made by the customers it is analysed that majority of the responses is disagreed with the statement as they didn’t visit the Next Plc. on every alternate day. As per customers it is not required to visit the clothing and footwear store on alternative days as they didn’t make such kind of shopping (Terkan, 2014).

Table 3: - Marketing helps in getting knowledge about product.

Analysis: As per the rate of responses made it is clearly observed that majority of the customers agreed with the statement as with the help of marketing customers gets to know about the availability of the products. Marketing render adequate level of information about the product and render adequate level of knowledge to the customers to make effective choice at the time of shopping (Ripollés & Blesa, 2012).

Table 4: - Marketing makes no sense to product?

Analysis: When it is asked to the customers that marketing didn’t make any sense to the product it is highly disagreed by the customers. As per them marketing add effective value to the product as it helps in promoting the product in the market along with this it renders adequate level of information to them (Ripollés & Blesa, 2012).

Table 5: -Marketing is a method of convincing people easily?

Analysis: When it is asked to the customers that marketing helps in convincing them it is highly agreed by them. As they get agreed that with the effect of effective marketing they become convinced in adequate manner. Effective marketing planning adequately attract them in order to get aware about the product and once they get aware about it they effectively make purchase of it (Ciprian, 2015).

Table 6: -Marketing help in getting aware about new products available in marketing?

Analysis: When it is asked from the customers that is they become aware about the product with the effect of marketing then they get highly agreed with the statement. As per them it is stated that company do the marketing in order to promote their product in the market and by rendering adequate set of information they easily make their customers aware about their product in effective manner (Ciprian, 2015).

Table 7: - Next provide variety of products for shopping?

Analysis: While it is asked from the customers that Next Plc. renders them adequate variety in order to make adequate choice it is highly agreed by them. Customers feels that they get they get effective set of choice at Next Plc. in order to make adequate shopping for their purpose. Variety of products provided by the Next Plc. in order to attract number of customers towards their products. And make their customers aware about them with the help of marketing (McKinley, et. al., 2012).

Table 8: - 4P’s are important facet in marketing?

Analysis: As per the responses made by the customers in context to the statement it is clearly observed that 4p’s are put effective impact over the marketing. 4 p’s render adequate measures in order to make effective marketing of their product within their market and aware their required customers to increase their sales (McKinley, et. al., 2012).

Table 9: - You like celebrities involving in a product marketing phase?

Analysis: When it is asked with the customers that they like celebrities in marketing activities majority of them get agreed with the statement. Celebrities put effective impact over the base of customers as they easily get influenced with this effect and helps in increasing the sales of the Next plc. Marketing with the use of celebrity adequately attract the number of customers towards their product in effective manner (Constantin, 2014).

Table 10: - In the absence of marketing product can’t get promoted within market.

Analysis: When it is asked from the customers that product is not get promoted in effective manner in the absence of the adequate marketing this statement is highly agreed by the customers. Customers stated they get aware about the product with the help of the marketing only. It’s up to Next Plc. to make effective use of marketing in order to promote their product within their market (Constantin, 2014).

Analysis of the information gathered from the secondary sources such as: -

Figure 1: -Increase in sales with the change in the marketing pattern: -

Analysis: As per the above figure it is clearly observed that with the change in the marketing pattern there is effective changes are notes down in the sales. As in the month of July to September there is adequate fall is noted down in sales with after change in marketing pattern there is adequate increase in noted down in the sales. As per the new marketing pattern they render adequate level of offers to their customers who help them in effective manner in order to attract customers and helps in increase in their sales (Constantin, 2014).

Discussion: Effective analysis is made over the gathered data and in order to make use of it whether adequate information is gathered or not. With the help of this gathered information set research questions need to be answered in effective manner such as: -

What are the various opportunities in NEXT?

There are various set of opportunities available in the Next as they attain variety of products with them in order to make effective sales to different customers. They run their operations effectively in their respective market and in order to increase their market share they need to promote their products with the help of effective marketing strategy (Jack Rotfeld, 2014).

Is marketing play a vital role in success of organization development?

Yes marketing plays a vital role in the success of organisational development. As with the help of marketing they effectively promote their product within their market. With the help of marketing they become capable enough in order to aware their different set of customers. Marketing helps in promoting their product in market and make adequate level of sales which ultimately helps in getting success.

What will be the marketing impact on Next for feasibility and viability?

With the help of marketing Next is able to render adequate level of information to their customers. They render adequate information about their products which fulfil their customers’ needs and preference. They make effective marketing in order to make their feasible for customers and viable to get in effective manner (Jack Rotfeld, 2014).

Task 2

Conclusion and Recommendations

This section includes the conclusion part as well as recommendation for the Next Plc. to increase their sales in adequate manner. Below is the conclusion and recommendations in adequate manner such as: -

Conclusion: After the whole discussion it is concluded that whole research study get executed successfully. For Next Plc. marketing is essentially required in order to promote their sales and make an effective base of loyal customers for them. As per the gathered information it is analysed that with the help of marketing customers get aware about the product and its features. Marketing make inclusion of various factors such as target market, segmented market and behaviour of their customers. It became very necessary to identify the customer’s preference in order to promote such product which satisfies their need and it also helps in increase in their sales. Marketing helps in increase in sales as it effectively share the information or details related with their products with their customers in order to make them aware in effective manner. With the help of this information they effectively make sales of their product and contribute in their revenues (Jack Rotfeld, 2014).

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Recommendations: There are some effective recommendations are made in order to increase the sales ratio such as: -

• Next need to make use of content marketing as it helps in lowering marketing costs, higher conversion rate; render higher customer satisfaction and lowering the rates of customer acquisition.
• Next need to create such product that has demand in the market as it helps in increasing their sales in effective manner (Scott, 2013).
• Evaluate the competitors marketing strategy in order to promote their product at lower cost which helps in lowering their overall cost for their products.
• Next need to render free locusassignments.during their marketing event in order to attract number of customers as they get aware about their quality and prices in adequate manner.
• During marketing it is essentially required to reach out the customers to make them aware about their product in effective manner (Scott, 2013).
• Maintain the quality in the products after marketing event in order to provide same level of product to their customers.
• In order to increase sales Next need to introduce variety of products for their respective customers.
• It is very important to introduce unique product with effective features and also adopt unique marketing features to promote their products (Scott, 2013).

References

Budic, H. & Andrlic, B. 2011, "Measuring students' satisfaction and its importance for improving marketing mix of services in higher education", Annals of DAAAM & Proceedings, , pp. 61.
Chajka, I.P. 2013, "Holistic marketing and its importance in the functioning of universities", Marketing ì Menedžment Innovacìj, vol. 4, no. 3, pp. 53-60.
Check, J.W. & Schutt, R.K. 2012, Research methods in education, Sage Publications, Thousand Oaks, Calif.
Ciprian, P. 2015, "THE GROWING IMPORTANCE OF SOCIAL MEDIA IN BUSINESS MARKETING", Quaestus, , no. 7, pp. 94.
Constantin, C. 2014, "USING THE IMPORTANCE - SATISFACTION MATRIX IN DESIGNING RELATIONSHIP MARKETING STRATEGIES", Bulletin of the Transilvania University of Brasov. Economic Sciences. Series V, vol. 7, no. 1, pp. 31-36.
Elliott, G., Waller, D. & Rundle-Thiele, S. 2012, Marketing,Second edn, John Wiley & Sons Australia, Milton, Qld.
Elliott, G., Waller, D. & Rundle-Thiele, S. 2014, Marketing,Third edn, John Wiley and Sons Australia, Milton, Qld.
Hughes, J. 2012;2002;, SAGE internet research methods,Four-Volume Set edn, SAGE, Los Angeles.
Jack Rotfeld, H. 2014, "The pragmatic importance of theory for marketing practice", Journal of Consumer Marketing,vol. 31, no. 4, pp. 322-327.
Liamputtong, P. 2013, Qualitative research methods, 4th edn, Oxford University Press, South Melbourne.
Lisanti, T. 2016, "60 years game changers: an exclusive look at how the National Football League Players Association has evolved and expanded its initiatives and importance from the core legal representation of its players to their individual and collective business interests including marketing, sponsorships and brand licensing", License, vol. 19, no. 1, pp. 46.

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