Marketing Plan for Forever 21 - 4451 Words

MARKETING PLAN ‘FOREVER 21’ IN BRAZIL Group 5: Melissa Soto, Zhang Yaou, Edward Kamdem, Li Xzangwen, Guru B Krishnan, Manuel Sanabria EXECUTIVE SUMMARY The company chosen is Forever 21, which is an American chain of clothing retailers with branches in major cities in the world that offers trendy clothing and accessories for young women, men, and teen girls at low prices. Since its creation these company has been constantly growing. It began with just one store and now it has more than 500 stores in several countries. However, there is still a lot of countries where the brand is unknown so there is still a great potential for expansion of the brand. One of those countries is Brazil, which is one of the top economies in the world in terms†¦show more content†¦Moreover, the law system is improved much nowadays, so the legal environment can be more reliable. Economic environment in Brazil 1 Overview Brazil is the eighth world’s largest economy in terms of GDP (Gross Domestic Product), in 2012 its GDP growth rate was of only 1,3% but in 2010 was of 7,5% (The World Fact book). The inflation rate is 5.5% in 2012. However, it is predicted that the inflation for 2013 rise to 6% and that the economic growth for the same year will be around 3%, which is bad news for the Brazilian economy taking into account that most others emerging economies, including Latin America are doing much better (Wrong numbers, 2013). In 2012 Brazil’s economy in terms of GDP was considered larger than UK’s. Nevertheless, accordingly to the Economic Intelligence Unit (EIU) during this year the UK will overpass again Brazil in the GDP ranking, and it won’t be due to UK well performance but due to Brazil’s fall. (Costas, R., 2012). Despite this bad scenario for the Brazilian economy, the EIU forecast that the Brazilian economy would surpass UK’s economy again in 2016 wh en Brazil hosts the Olympic Games (Costas, R., 2012). 2 Economic situation and Forever 21 In spite of the temporarily slowdown in the Brazilian economy (which has had an astonishing growth over the last 10 years), the wages are continuing to rise and the unemploymentShow MoreRelatedForever 21 Marketing Plan4752 Words   |  20 PagesForever 21 Marketing Plan ïÆ' ¼ Index 1. Executive Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦3 2. Environmental Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦.3 2.1 Apparel Market Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦.3 2.2 Competitive Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦.†¦5 2.3 SWOT Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.7 3. Objectives†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦10 4. Marketing Strategies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦12 5. Detailed Action Plan†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreGlobal Sourcing And Domestic Sourcing1242 Words   |  5 Pagesthe process of planning, negotiating, and debating between global sourcing and domestic sourcing; ultimately choosing which path to take. Global sourcing refers to the procurement of goods and services, in which a company s production team works to plan out the most cost-effective and efficient strategy for manufacturing and delivering said goods, and/or services, even if it is done so internationally. For example, a United States company that sells diamond rings purchases diamonds from South AfricaRead MoreZaras Competitors2704 Words   |  11 Pagesmarket as well. We have chosen two other comparable brands in the market to illustrate the differences and similarities among various fashion brands and to help us understand this industry better. The two main competito rs of Zara are Forever 21 and Topshop. Forever 21 and Topshop are entirely two different companies originated from two different countries, the United States of America and England respectively, but they are similar in terms of their sense in fashion and uniqueness in trends. AlthoughRead MoreI Am Writing This Letter To Inform You That I Have Chosen1255 Words   |  6 Pagescommerce. For instance, a student will also  have an opportunity to get the knowledge of the other  important subjects like economics, marketing, accounting, and management. One of the main benefit of choosing Business Administration as my major is learning the skills and the concepts of how to access your own business. It is one of the major advantages for the students who plan to start their own personal business in the future  The number of enrollments in Universities and Colleges with students of businessRead MoreAbercrombie And Fitch : An American Clothing Retailer1636 Words   |  7 Pagesother cheaper alternatives and phased out from dis playing brand names on their clothing. The company was unable to cater to the marketplace and focus on the changing needs of its consumers. Abercrombie was incapable of realizing that their current marketing strategy would only be successful for so long until consumer needs change. The Abercrombie image was created by their CEO, Mike Jeffries, who stated that Abercrombie â€Å"†¦wants to market to cool, good-looking people. We don’t market to anyone otherRead MoreForever 211986 Words   |  8 PagesINTRODUCTION Forever 21 is an American chain of fashion retailers with its headquarters in Los Angeles and sales of $3.7 billion in 2013. Forever 21 began as a 900 square foot store in Los Angeles in 1984, and has grown to sell their clothing lines Forever 21, XXI Forever, Love 21, and Heritage in over 600 stores in the Americas, Asia, the Middle East, and the UK. More than 60% of its apparel is manufactured in China and the average store size is 38,000 square feet. According to Adrienne TennantRead MoreMillennial Proposal Nordstrom4174 Words   |  17 PagesContents Executive Summary 3 Who is the Millennial Customer? 4 Situational Analysis of Nordstrom 4 Analyzing the Numbers and the Nordstrom Customer 4 SWOT Analysis 5 The Competition 6 Objectives and Strategy 7 Marketing Plan Objectives 7 Marketing Strategy 8 Market Segmentation and Targeting Strategy 8 Potential Strategies 10 Executive Summary The purpose of this report is to identify whom the millennial customer is, why they areRead MoreDesigning A Business And Succeed While Doing It Essay1737 Words   |  7 Pagesthrough the â€Å"fit in faze† you could say. I wanted to have nice clothes because it seemed as though all the girls had them. At the age of 16, I experienced my first on my own shopping experience. My very first store was Forever 21, I didn’t really like how messy it was it took me forever to just find an outfit, and sometimes even the workers weren’t even able to help. From then on, as I got older one thing I noticed was that, stores always had a specific style targeting a particular set of teens andRead MoreThe Rio Grande Valley (Rgv) Is Growing Economically.There998 Words   |  4 Pagestextiles and apparel major, I’ve learned that the fashion industry is increasing the knowledge about ethically producing clothing that is also eco-friendly. The fashion industry is increasing the awareness about the negative impact fast fashion (ex. Forever 21, American Apparel, etc) has. The fashion industry in the second most polluting industry and fast fashion companies are known to practice unfair and unethical labor policies. Such awareness has been made possible by the technology and social mediaRead MoreSustainability of HM in Competitive Apparel Market3989 Words   |  16 Pagesmain competitor Zara only at 37. This paper will examine the strong positioning of HM by using 3Cs (Company, Consumer and Competition) and STP (Segmentation, Targeting an d Positioning) analysis. Moreover, the study will also demonstrate how unique marketing strategies (4Ps) help HM to gain profitable market share and build brand loyalty. Background Apparel retail industry has intense competition in the global market. HM (originally known as Hennes Mauritz) with the business concept of â€Å"Giving