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The marketing strategy The marketing strategy Presentation Transcript

  • The Marketing Strategy Vanna McCarthy Tara McKinney Krystal Thorne
  • Background Information• First shop in Figueroa Street in Los Angeles• Fashion 21• At the end of the first year, their sales had grown from 35,000 to 700,000• 1995 they opened a store in Mall of Americas in Miami, Florida
  • Today• 2002, Forever 21 Incorporated has been ranked as one of the 50 largest privately held companies• 2008, they were averaging 90 new stores openings each year.• 1 million square feet of space to 10 million, from one brand of its own to six• This year it plans to open at least 75 more stores in five countries
  • Today
  • Products & Services• Current fashions at the greatest value• Forever 21• XXI Forever• Heritage1981• For Love21• Twelve by Twelve• Forever 21+• 21Men• Department store-sized stores
  • Target Market• Mostly young men and women• 66% are women between the ages of 18-34 years old
  • Target Market Age Gender Female Male 3 - 12 13 - 17 18 - 34 35 - 49 50+ 7% 6% 15% 34% 27% 66% 45%
  • Target Market Ethnicity Household IncomeCaucasian African American Asian Hispanic Other 0 - 30,000 30,000 - 60,000 60,000 - 100,000 100,000+ 1% 16% 19% 30% 15% 52% 24% 16% 27%
  • Value Proposition• Customers have options and are able to be creative within their retail doors• Supplier and Vendor Social Compliance and Ethical Sourcing
  • Retail Strategy Competitors:
  • Retail Strategy• Forever 21: expand their depth of product selection by offering to their customers a wider mix• Dedicated lines within different product categories
  • Traditional Marketing• Print Ads
  • Non-Traditional Marketing• Facebook
  • Non-Traditional MarketingTwitter
  • Non-Traditional MarketingBlog
  • Non-Traditional MarketingYou Tube
  • Marketing Strategies Applied• Their blog is aimed at educating the customer on their products• Inspiration boards• Twitter is used to attract customers for sales and limited time offers• Facebook page have many customers speaking to each other