Product differentiation strategy has been identified as one of the most significant competitive strategy for NEXT. Exciting products, beautifully designed, excellent quality clothing and home ware are playing a vital role in the success of NEXT.Lipsy, one of the popular fashion brands among females, introduced new products that resulted in 61% higher sales and accounted at £45 million (Annual Report, 2011). A wide range of quality products and demands made Lipsy to trade from 27 stores. Huge discounts over online purchase through website have created greater attraction for company’s household products, clothing and footwear goods. Company has a very well-balanced product mix that offers a good value for money to its customers and also has wide range of products available to meet higher demand of customers(McKinlay,A.J.R ,2011).
Senior management and technical team have provided a significant role in the success of NEXT to become popular retailer among its customers. Company also keep focus on attracting such highly skilled workforce and retain them. Retail sector has intense level of competition and many other companies always attempt to attract staff of NEXT. Such an efficient management team has identified as an advantage over its competitors. In return, company also takes care of its senior personnel and their remuneration is reviewed and restructured on regular interval to motivate these employees. Strategic development and implementation of various marketing plans, branding, promotional strategies, investment decision, etc., are taken by the management and executive team. Ventura can be considered as a strategic attempt that was started in India in order to make the operational cost low. Such key personal are always provided career development opportunities and an orderly succession within the company’s different management position (McKinlay,A.J.R, 2011).