Forever 21 Marketing Plan

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Forever 21 Marketing Plan

 Index
1. Executive Summary…………………………………………………………………………………………….…3 2. Environmental Analysis…………………………………………………………………………………….….3 2.1 Apparel Market Analysis………………………………………………………………………….….3 2.2 Competitive Analysis……………………………………………………………………………….…5 2.3 SWOT Analysis………………………………………………………………………….………………….7 3. Objectives………………………………………………………………………………………………………………10 4. Marketing Strategies………………………………………………………………………………………………12 5. Detailed Action Plan……………………………………………………………………………………………….15 6. Budget…………………………………………………………………………………………………………………….17 7. Control…………………………………………………………………………………………………………………….19 8. Sources.………………………………………………………………………………………………………………….20

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Our Objective We aim to bring Forever 21, a popular United States clothing company to Taiwan Executive Summary Forever 21 is a popular clothing retailer. There are several different brands within the company, each with its own target market In opening a store in Taiwan, we are attempting to appeal to a similar target market of college educated females between the ages of 18-34 Our goal is to start with a .5% market share which we will continue to grow with profits between $50,000-75,000, with around 10 thousand new customers Forever 21 traditionally relies on a print campaign in large cities as well as heavy online campaigns. A similar marketing plan will be used in Taiwan with adaptations to fit Taiwanese preferences An online survey will be sent out to determine interest in a Forever 21 retail outlet. Open a retail outlet in Taipei with clothing being imported directly from suppliers, many of which are located in Asia. Environmental analysis Taiwan Apparel Market Analysis Taiwan has limited natural resources. It is not the production country of cotton, yarn and petroleum. However, the development of the textile industry in Taiwan is unusually prosperous, as the main product items are cotton yarn, fiber and garment. The domestic apparel retail development has changed significantly since the 1980s.

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In the early 1980s, the majority of the fashion retailers in Taiwan were medium and small businesses. Very few were imported brands, Taiwanese brands and design concepts. High-end commodities came from Japan and the United States. The mode of operations included trading travelers and consignment stores, both doing businesses in a specific market. In the late 1980s, the traders began to introduce foreign brands and design concepts. Consignment stores, department stores and other retail formats started to be prevalent, but still mainly in consignment ways. In the early 1990s, with the tariff regulations and decrees reform, foreign brands engaged in seizing Taiwan fashion retail market, for example, Hang Ten, Giordano and ESPRIT, etc. It led to the strong invasion of the fashion trends of Europe, the U.S. and Japan. Meanwhile, the domestic business men in fashion industry have begun to create their own brands. Department stores, specialty clothing stores have sprung up at that time. And 1990s is the period of the economic boom, firms aimed to seek the chance to be agents of foreign clothing brands. Such as Pierre Cardin, the customers embraced their designs with high loyalty. Other apparel retailers dedicated to enhance the commodity characteristics, starting their own planning, procurement, and sales. In the early 2000s, Japanese fad was still strong, but due to the increase of labor costs, garment factories have shifted to mainland China and Southeast Asia, leading that Hong Kong apparel group such as Hang Ten, Giordano, etc stationed to Taiwan in a large number in the mode of large chain stores. Stores expanded rapidly to all levels of the city in Taiwan. At the same time, some cuttingedge style designer brands entered into the domestic apparel retail market. The field was really diverse.

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In the late 2000s, because of economic recession, plus consumer was no longer blindly advocating brand names, instead, they asked for...
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