Forever 21 Marketing Plan
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
2
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
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
2
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