Chapter 4: The Marketing Environment

According to the MKTG text book, Target market is a defined group most likely to buy a firm’s product.  Every Company needs to have an environmental management means when a company implements strategies that attempt to shape the external environment within which it operates. Their goals are to gather the environmental data to identify future market opportunities and threats.

Since this is the 21 century, most women are working in the United States which means women starting to have more wants and needs.  Due to multitask now day’s women and men don’t have enough time to stop by places they would love to go. Forever 21 has created their website for online shopper and fans and also face book and twitter where they post ever day’s new arrivals to keep up-to-date to their fans and shoppers. So their fans and shoppers don’t have to spend a lot of their precious time in the store yet find the exact product they are looking for. Recently they have created an app for iPhone. Currently forever is working on making commercials and they will be shown on abc family, and mtv channels.

 

Forever21 is mostly made for women but recently they have starting to bring out men  and children’s clothing’s. According to the research, 66% of women between the ages of 18 to 34 year old. It expands their depth of product selection by offering to their customer a wider mix.

 

 

According to this picture, as you can see the most buyers are Caucasians, African Americans, Asians, and Hispanics. These people have a desire to keep up with the current trends, but wish to stay on a budget. Also finding the household income chart helps them to decide the budget of consumer’ on clothing.

 Feedback from customers are really important for any company. It helps a company to understand customer’s wants and needs and how to improve. Some of the ways forever21 get their fans feedback is through face book, twitter, and blog.

Every Business has some government regulations to ensure consumer’s safeness and whatever best for the society. It is the duty of marketing managers to understand and conform to them.

Forever 21 evaluate their products and strategies to determine how they have been working and if any changes need to be made every year.

 

Why choose forever21?

•  Current trends

•  Recession friendly fashion

•  Designer looks: student friendly budget

•  Sexy not skanky

• Youthful styles

•  Online shopping