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The INEUK LTD company’s objective is to offer quality fashionable clothing, accessories for a good price. INEUK LTD’s mission is to be the natural choice retailer in the UK for fashion wear for men and women who expect style, distinction and quality from their clothing. The aim of INEUK LTD is to meet or exceed customers’ expectations of INEUK LTD’s products and of INEUK LTD as a company by providing: Exciting, beautifully designed, excellent quality clothing that reflects the aspirations and means of their customers
As well as delivering to their Brand values, INEUK LTD is committed to ensuring that no-one should be harmed when their products are being made or whilst they are being used as they focus on;
the quality of products
safety and fit for intended purpose
products being fully comply with all legislation and their own standards where these go beyond legislation requirements
products and their raw materials are sourced in a responsible manner encouraging customers to consider reducing their impact on the environment by offering information about lowering the temperature they use for washing clothes and how to dispose of products correctly.
INEUK LTD is committed to operating a responsible and successful business, aiming to provide an inclusive high level of service to all their customers, shareholders, employees, suppliers, community and the environment at large.
INEUK LTD amongst other fashion retailers has suffered sales decline due to the corona virus epidemic. However, they aim to carefully manage costs, whilst maintaining and retaining talent and skills to ensure a positive position within market and emerge stronger than before. INEUK LTD believe in the importance of maintaining healthy relationship with communities in which they operate as well as work with charities to ensure their part in public welfare. (INEUK LTD, 2019)
At INEUK LTD we Know that the main difficulty in dealing with the complex world of fashion marketing is the issue of change because fashion, by its very nature is constantly changing and there is a further dimension of constant change in the business environment. INEUK LTD has emerged from a difficult year in good financial health, with solid net margins, a robust balance sheet, strong positive cash flow and secure financing.
This is due to their marketing strategy as they make efforts to find out what customers wanted and tried to give it to them, because, the satisfaction of customers’ needs, wants and demands lies at the heart of the marketing concept, which is the strategy that enables an organisation to achieve its objective.
INEUK LTD is positioned firmly in the bottom to middle mainstream fashion market, targeting 18 – 45 year olds who are fashion followers. INEUK LTD company logo is ‘INEUK’ in upper case letters which was updated in 2020/
INEUK LTD is one of the First UK clothing retailers offering stylish, good quality products in clothing, accessories which are only available in the UK through three main channels of distribution;
INEUK LTD has 2 Retail stores in the UK
INEUK Directory- a direct mail catalogue and transactional website with more than 2 thousand active customers
Other businesses in the INEUK LTD group include:
Sourcing, which designs, sources and buys other branded products; and
WWW.INVU.BLOG which provides customer services management to clients wishing to outsource their customer contact administration and fulfilment activities.
INEUK LTD makes use of standalone and shop-share stores in other cities to capitalise further on its existing product line and take a bigger slice of the large, growing UK value clothing market.
INEUK LTD Has Influence on four types of culture, Power, Role, Task and Personal culture. INEUK LTD have a principal Board of committees which includes Audit Committee, Remuneration Committee, and Nomination Committee each of the committees with their own works in the company. This shows that they operate with Role culture where decisions are made by committees, structures, logic and analysis.
The External environment consists of opportunities and threats that are outside the organisation and are two types;
Task environment (micro): are factors that affects the organisation and affect itself by the organisation and these are shareholders, community, labour unions, creditors, customers, competitors and trade associated.
Social environment (macro): includes those forces that do not affect the short run activities but influence the long run activities or decisions of the organisation. They are governmental, political and legal, economic, social, cultural, demographic and environmental, and technological forces.
SWOT ANALYSUS ON INEUK LTD
Because there are a lot of suppliers, their influence over INEUK LTD are limited. A supplier could easily be replaced in a short period of time if they asks for an increase in the price, or make other better requests.
The only way to attract customers to buy a company′s product rather than the competitors’ is to add value, like label, style, price or quality to products since clothing is not very item specific. However, the customer spends his money and so has the most power to make the management cut prices to avoid losing sales, but from quality perspective, INEUK LTD stands out.
New competitors entering the market is a big threat to INEUK LTD especially the big label companies because they can enter the clothing market in a short period of time as they have capital, knowledge and the power to do so. However, there is a place for INEUK LTD, considering the brand posture.
Substitution is a threat but it is not a big issue in the clothing retail market so for INEUK LTD, the impact of substitute is limited since they offers almost all the brands.
Because there are a lot of clothing retailers in the UK which indicates a high rivalry between competitors. Consumers prefer companies with the best offer in respect to price, quality and services and so companies must cut prices to sell their products. INEUK LTD however has maintained trading at full price at all times, other than the traditional end of season and mid-season Sales and so might be at risk, but since they have maintained good quality and services, rivalry for them is very low and will not be a big issue.
MACRO – PEST ANALYSIS OF INEUK LTD
Political: The United Kingdom, is no longer Member State of the European Union does not have to fulfil stable political surrounding which is the basis for long-term decisions upon which the government has to act to achieve certain conditions. This has given INEUK LTD a higher scope of economic actions as well as being able to do trade and buy or arrange manufacturing in any country it wants making the profit margin a lot greater than it would have been dealing with only European union countries.
Economic: The current economic climate in the UK is very stable and this brings short term and long term sales and customers in INEUK LTD which, in turn, make forecasting easier. In addition, the strength of Sterling against the US Dollar and the Euro, the main purchasing currencies, has brought further encouragement to their buying teams.
Social: presently, the UK population is high and a lot of tourists will be looking to come to uk and this means a lot of customers for INEUK LTD. On the other hand, sex education and rise in population of career women have brought about drop in birth rate and so figures of INEUK LTD target group of 25 to 45 are declining.
Technological: Internet has given INEUK LTD a lot of potential opportunities to boost profits as customers can easily acquire clothing online without having to leave the comfort of their homes.
THREATS:
Over Crowded Market
There is a place for NEXT in the clothing retail markets but not without competition. Costs rise and profit falls because even as the market is overcrowded, new entrants are coming in.
Decreasing Population of Target Group
INEUK LTD target age group which is 25-45 is moving out because new trends of smaller families are now dominating the baby makers of the fifties who are almost at pension age and as a result of this, sales in the next 10 years may be reduced.
Price offs
INEUK LTD intends to continue trading at full price at all times, other than the traditional end of season and mid-season Sales, this can hurt business seriously because if customers get used to discounts, they will not want to spend more on products in future thereby causing death for the market.
New Entrants
Despite the current overcrowded market, more fashion retailers still make entry. A company with a lot of capital and experience and can create economies with its brand and differentiated product, will create interest if entered the market.
Competition
Ineuk Ltd, which competes against burberrys, cashmere, added that, while customers continue to manage their credit carefully, it has started to see a year-on-year reduction in arrears on their INEUK LTD Directory accounts.
ANALYSIS OF 4Ps AND PLC, BGM, ANSOFFS
Position of product life cycle: NEXT have been much happier with the positioning and fashion content of product ranges and in particular the improvements to the women’s ranges. (Next financial statement, 2009)
Product life cycle is very important as INEUK LTD anticipated a difficult year and set key objectives and continue to invest in their Brand. (Next financial statement, 2021)
The growth rate of INEUK LTD in the UK market is increasing; INEUK LTD looks to be moving from a clothing retailer to agriculture (Food) incorporating a goods offer not just online, but also in its stores, although not without competition.
To INEUK LTD, growth rate is very important and so they have expanded so much since established in 2019, in addition to stores and a home shopping operation in the UK and TURKEY, the group’s franchise arm has 1 other partner stores overseas.
The market share of INEUK LTD is not as important as they concentrate more on the design, quality and value of product, together with excellent customer service and delivery. In March 2020, the market seems to fall even more due to global recession whereas INEUK LTD showing that its prices are not determined by the market trends but its set according to the value.
The percentage of new market: Directory sales–its catalogue-shopping and online business Combined total brand sales for INEUK LTD retail and its directory business.
For INEUK LTD, new market is extremely important as they have begun placing orders later and keeping more spending back for shorter lead-time garments in order to keep pace with fast-changing fashion trends.
Percentage of new product: INEUK LTD is looking to increase the levels of newness within their ranges so that there are more new products for customers to see every six weeks. This change has been partly as a result of selecting product closer to season, boosting new trends with conviction.
Percentage of new products is very important to INEUK LTD; Fashion trends are changing all the time, and trends are getting into the stores quicker, introducing new product every season to meet up with consumer demands.
Quality, Style/Design: to INEUK LTD, these are very important and strong as we can see from the company mission statement.
Position and importance of decoration and location; updating of shop fit is an integral part of revitalising the Brand. The aim is that INEUK LTD merchandise is displayed in stores whose interior design reflects the design and quality of the clothing ranges.
Position and importance of stocks: INEUK LTD Stock for the end of season Sales across Retail and Directory was down 10% as a result of realistic budgets and much improved stock control.
Price level and value of INEUK LTD: INEUK LTD maintained its long standing practice of providing customers with certainty over pricing and was one of the few retailers not to mark stock down in the run up to Christmas. Whilst they recognise that this will have reduced sales potential during this period, it allowed them to maintain margins and significantly reduce markdown costs year on year. (Next financial statement, 2021)
Price level and value is very important to INEUK LTD as their strategy is to concentrate on design, quality and value of product together with excellent customer service and delivery believing it will serve them through recessionary period.
Financial report shows direct selling is very important and are well covered by it because although they have difficulties through the recession, they still made profit. (Next financial statement, 2021)
To INEUK LTD, use of billboard and TV advert is important and they are looking to be covered well with it because In order to communicate the changes made to product ranges they have increased both the effort and investment made in marketing the INEUK Brand. They will improve the quality of in-store displays, graphics and windows. In total, they will spend an additional £5000 on marketing in the year, most of this increase will go into press, billboard and TV advertising and windows (Next regulatory news, 2021)