Ch. 2 - Strategic Planning for Competitive Advantage

"Wow! I love your dress, where did you get it?"

"Forever 21."

There's nothing more inspirational than to express yourself through fashion, and that's what Forever 21 offers for the young generation. Forever 21 is one of the top leading and most popular retailer of the latest trends and the seasonal "hottest" styles at affordable prices.  Along with their mission statement, their goal is to become an "$8 billion company by 2017 and open 600 stores in the next three years..." And even with the company’s tremendous growth, it still remains a family owned business.

Strengths

With hundreds of stores worldwide, Forever 21 has been able to hire over 30,000 employes in each country. Forever 21 are well-known for converting stores to make them more attractive and convenient for customers. In 2001, Forever 21 opened XXI flagship store in Texas, Miami, Los Angeles, Chicago, and Edmonton, Canada. Opening a flagship store provides customers with a fun and exciting environment to shop in. 

Forever 21 provides a strong and unique online website to costumers. Their website is very easy to understand and navigate. The first thing an online shopper would want to see at a clothing line website is the "new style." Fashion is always changing, and not everyone can keep up with the new trend nowadays. Which is why Forever 21 motto is,"Always changing and always in style."  Forever 21 helps the young generation to get in style; what to wear, how to look good, but also feel good. Not only can people shop for the items they like, but also get featured a "You May also Like" section. Forever 21 is always trying to connect with their customers, especially through social media such as Facebook, Twitter, Instagram, YouTube, a blog and an iPhone app.

Facebook: Offers fashion/beauty advice, updated information on the latest trends, and sometimes contests to enter. 
Twitter: Like Facebook; offers fashion/beauty advice and updates. Also,it gives shoppers the opportunity to communicate with the company.
Instagram: Provides images of models with the latest trends.
Blog: Offers a more in-depth coverage of the latest fashion trends and beauty techniques.
iPhone App:Gives users the opportunity to shop, look at new arrivals, browse daily specials, and access to the latest look-books.

Weaknesses

Even though Forever 21 has many stores available worldwide, they still are limited to the numbers of stores in Latin America, Asia and European regions. 
The quality of certain products is not always reliable due to mass production.
Their websites sometimes have a weak supply chain; products undelivered and canceled orders.

Opportunities

Forever 21 always have trendy, new clothing at affordable prices.
Their online market can provide Forever 21 the ability to greatly expand their business and reach out to a larger audience. 
Celebrities, T.V. programs, and cartoons help promote and endorse Forever 21 apparel.

Threats

Competitors like H&M can lower Forever 21’s profits, because competitors can attract consumers  with superior products.

Forever 21 Marketing Mix: 

Products: Variety of clothing for women, men, and kids. Also, beauty products, shoes, and accessories. If some products are only online, it is guaranteed to be in stock again, or available in stores. 

Place: Forever 21 has over 480 stores in the U.S., specifically in malls; however, shopping online makes it easier to place consumer's order. All products come from Los Angeles, California. 

Promotion: Advertising is used through social media, via email, and through postal mail. Forever 21 also uses celebrities such as Iggy Azalea, Nick Young, etc.  

Pricing: Forever 21 ensure that pricing is consistent at all of its locations, including their online website. In some occasions, there may be price differences due to promotional events and special offers; however, prices are generally satisfying for the customer, which makes sales successful.