Forever 21 Market Segmentation
Fashion has been invading people’s style of living tremendously. Every company needs to divide the promotion budget among the major tools to create the promotion mix. Companies can pursue a push or a pull promotional strategy, or a combination of the two. The best blend of promotion tools depends on the type of product/market. Forever 21 follows the push strategy. The company practices a variety of promotional methods. For increasing sales, one of the most noticeable promotional strategy that Forever 21 goes after is providing “free shipping” from time to time and sometimes also applying a limitation on the minmum order amount.
Charging lesser/discounted prices is also another attractive way that Forever 21 uses to promote itself. Forever 21 has also turned its attention towards celecbrity ads bringing BoA, a Korean popstar into its promotional campaigns, such as including her pictures on their website. This promotional strategy associates the Forever 21 brand with celebrity clothing and thus creates a lot of hype, maximum appeal and excitement amonsgst the younger generation. (Promotion – BoA on Forever 21, 2009) This is just one example; Jillian from The Bachelorette also wore a Forever 21 dress, available for sale in stores.
By virtue of its fashion know-how and its expertise in anticipating trends, Forever 21 has achieved popularity among consumers which has enabled the company to grow at a formidable rate; despite overcrowding in the clothing market and slow consumer spending. Forever 21 has a keen understanding of its target market which is the low price, high fashion sector. To promote the company and its clothing, Forever 21 uses video advertisements, print advertisements and the concept of e-marketing (Electronic Marketing).
This promotional strategy will tend to reach consumers from different places around the globe. Forever 21 also offers mail in offers and coupons to consumers. Moreover, since the trend in the marketplace today is the usage of e-marketing, Forever 21 provides a website that any client can access. (www. forever21. com) This method of promotion has become helpful in transforming the value-chain from manufacturers to retailers to consumers, creating a new retail distribution channel.
E-marketing is one of the powerful tools that Forever 21 uses today. The main objective of utilising e-marketing strategy is to keep in touch with different Internet users, spread everywhere. The true strength and benefit of e-marketing is acceleration of the business portfolio and Forever 21 does this well. The company also promotes its apparel and accessories on the giant social networking tool, Facebook with a personal note saying “satisfying your craving for fashion”.
Forever 21 also holds interactive quizes on its Facebook page and awards the winner(s) with particular goodies. This is an attractive way of promoting its products besides television advertisements, pamflets, magazines and kiosks in different shopping malls. Conclusion Forever 21 has been offering great value at affordable prices to its consumers around the globe; and with its extensive and effective promotional strategies on Internet and through other advertisement media, the company can experience high returns on its products.
References Forever 21 – Wikipedia. (n. d. ). Retrieved July 28, 2009, from Wikipedia: http://en. wikipedia. org/wiki/Forever_21 Pfaff, K. (n. d. ). Shopping Centers Today Online. Retrieved July 29, 2009, from SCT: http://www. icsc. org/srch/sct/sct0302/page35. php Promotion – BoA on Forever 21. (2009, March 13). Retrieved 29 July, 2009, from http://seoulfull. wordpress. com/2009/03/13/promotion-boa-on-forever-21-se7en-on-myspace/