Next brand Essay Example | Topics and Well Written Essays - 750 words

Next brand - Essay Example Having being on the listing of London Stock Exchange where it is among the top 100 companies in the FTSE 100 Index, NEXT Brand is the best clothing retailer in UK in terms of sales. The NEXT brand company offers affordable and appealing products that depict immense value, style, and quality (Next Plc., 2014). Moreover, the company offers a wide range of products, which include original clothing and marketing material, jewelry, womens and mens and clothes, accessories, and beauty products (Next, 2014). Various external factors affect the operations and success of NEXT brand. Most of these factors are economic. NEXT brand participates in a monopolistic competition market structure. Indeed, there are many sellers in this industry since the fashion industry falls under perfect competition. However, companies in this industry do not sell identical products. In fact, NEXT brand sells differentiated products although they serve the same purpose. For instance, all clothing from NEXT brand depicts high value, style, and quality, which derives a competitive advantage (Next Plc., 2014). Moreover, the NEXT brand’s products are convenient since they are accessible online. The location and brand name of NEXT brand is different from that of other competing companies in this industry, which defines monopolistic competition market structure. The company abhors television campaigns and online marketing which promotes the NEXT brand’s products over other companies’ products. As such, under this market structure, NEXT brand have only limited control over price. Notably, there are various competitors in this industry where NEXT brand always seeks to achieve a competitive advantage over other serious competitors. Indeed, other companies in the fashion and clothing industry include Marks & Spencer, Debenhams, New Look, TK Maxx, Tesco, River Island, Dorothy Perkins, and Top Shop. Most of these companies sell the same products, which include original clothing, and