First, I would strong recommend the firm to focus on expanding into other nations. For instance, countries like India could be a great prospect for the firm. Since, the firm already has a manufacturing unit in China; it can target various nations in South East Asia for its sales. Second, it must introduce and implement new advanced technology to reduce its costs and improve the quality of its manufactured goods. Japanese manufacturing firms are far more superior to NEXT Plc when it comes to quality management. Today, company is working in a global platform and therefore, must focus on competing on a global scale. NEXT Plc should focus on younger people, women and untapped foreign locations. Third, it should focus on bringing new types of recreational vehicles to attract new clients. Introduction of new designs could play a major role. I would like to use an example of Apple Inc. and how it restored its success by introducing new iPods and laptops. Similarly, NEXT Plc should focus on reinventing and recreating new designs to attract today’s younger generations.
Fourth, increasing brand awareness, sponsoring more events which would foster brand recognition, revised marketing strategy and check for all marketing processes will improve and stabilize financial conditions for NEXT. Fifth, the company must revisit its prices, since it is competing with the companies from all over the world. Pricing will become an important consideration in the future and the competition would become price intensive in the future.