Published by MBA Skool Team, Last Updated: November 18, 2017
Marketing Strategy of Forever 21 analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Forever 21 marketing mix, help the brand succeed in the market.
Forever 21 marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Forever 21 Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Forever 21 marketing strategy can be explained as follows:
Forever 21 is a popular fashion brand serving clothes for both men and women across various age categories. Forever 21 has its presence globally with a diverse portfolio of products in its marketing mix ranging from beauty products and accessories to apparel for girls, men and women. The company caters adults, kids and even toddlers as its target customers. Some of Forever 21’s products include-
Clothing & Apparels: Man/Women/Kids
Jewelry & Accessories
Dresses- Tunic, t-shirt, maxi, party dresses, daywear
Tops- Crop, Camis, Graphics, Vests, Body suits, High necks and kimonos
Lingerie: Robes, slips, Pajamas, women and men Undergarments
Brooches, Pins, Watches, Body Jewelry, Rings, bracelets, earrings and necklaces
Accessories: Socks, Belts, Gloves, Hats, Sunglasses and Ties etc.
Slipper, Sandals, Loafers, Wedges, Heels, boots
Forever 21 Price/Pricing Strategy:
Below is the pricing strategy in Forever 21 marketing strategy:
Forever 21 is known for its pricing strategies.
It has a great deal reputation for meeting the fashion demand of its customer at an economical price tag. The pricing strategy in its marketing mix is that to compete in the aggressive industry. The response received by the company from its customers speaks about the strategy of the company by itself. The numbers are rising up as we speak. The end of financial year generated 3.7 billion revenues for the company from its 480 stores which increased to 3.9 billion and reached 4.5 billion in the next year. All the data shows that Forever 21 has become one of the coveted brand because of its well thought of policies of making products pocket- friendly and qualitative as well. Company also caters to its high- end consumers as well. The number of units sold by the brand is highest in USA.
Forever 21 Place & Distribution Strategy:
Following is the distribution strategy in the Forever 21 marketing mix:
Started in Los Angeles, Forever 21 has spread its network in various countries around the world. It has more than 600 retail stores across Asia, Europe, Middle-East, America and Africa. The company has strategically established its huge outlets in the Countries like India, Germany, Australia Japan, China, Brazil and United Kingdom. Forever 21also eyeing to go to the countries like Israel, Malaysia, Costa Rica, Russia and Greece. The retail stores are at least as large as Thirty Eight thousand Square-feet. On average 60 percent of the total production for the company happens in manufacturing Plants located in China. Forever 21 has a substantially wide distribution channel and network around the globe. This network consists of vendors, suppliers and franchise owners.
Except a few locations like Middle-East, the company has ownership of the business.
Forever 21 Promotion & Advertising Strategy:
The promotional and advertising strategy in the Forever 21 marketing strategy is as follows:
Forever 21 uses all media channels to ensure it reaches all its customers. Promotional policies are required to maximize the reach of the brand and to capitalize of market share. The company since its inception has been an international organization which sold its products globally. To lure customers from all around the world, Forever 21has been following multiple promotional ideas. The rise of Social media has been a biggest plus for the company. With the help of various social media platforms, like Facebook, Twitter, Pintrest, Instagram etc company is spreading awareness among the masses by each passing day. The increasing popularity can be measured by its increase in number of followers of the company’s official social media pages. Conventional methods like Print and Digital media has been not dropped as well. The company’s official website has been constantly upgrading to become more user friendly to provide all the necessary information to the existing and potential customers. Hence this completes the marketing mix of Forever 21.
About Forever 21:
Forever 21 is one of the most recognized fashion brands based out of USA. One of the largest retailer chain of United States, Forever 21 was founded in year 1984. It is famous for its youth oriented fashion and apparel products.
The biggest competitor of Forever 21 are: H&M, Zara, Gap Inc, URBN and J. Crew etc.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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