Developing and Managing Products

New products are important for a company to increase it's sell. It helps the company to be noticeable in their target market. A company simply creates new products to bring new customers and also keep the old customers interested in the company. Forever 21 is a clothing company where they bring new products to their stores in weekly basis. Their mission is to bring fashion to every corner of the world. In order to accomplish their mission, Forever 21 tend to bring new trends every week. What you may see in the store today, might not be there tomorrow. The company target the teens and young adults the most. To sell their products, the company make the customers to be engaged by bringing in new products. They bring the latest clothing, shoes, bags and accessories to their stores at an affordable price.

Most of the time customers are not loyal to any company. It is because, most of us look for good products in an affordable price or to stay in budge. Therefore, Forever 21 tend to bring the new trends to their stores at an affordable price. When a trend is bit old, the company put those products on sale. They also have seasonal sale which attract costumers. Compare to some of the retailers like H&M, Papaya, etc, Forever 21 gives the best price possible to their costumers. During Fall 2013, The "Bats and Cats collections" which was launch by Forever 21 as the latest collection, were started from $4.80. The clothing and shoes from that collection were between $8.80-$39.80. These prices are pretty low from H&M, Papaya and other retailers. H&M's new Fall Collection 2013, were much more higher than Forever 21. Their New Arrival's were between $34.95-$79.95.

Forever 21 manage their products by putting the clothing and shoes on sale and by bringing new products to their stores. They keep up with the fashion world very well than any other retailers because they are bringing in new trends very week. The reason why customers chooses Forever 21 is because, their products are affordable, and they are always in style.

Social Media and Marketing

The social media has a big impact on the company Forever 21. The company has it's own Facebook page where they post their "New Arrivals". The page is updated every week with the new goods and sales offer. Forever 21 also has videos in YouTube where they promotes their company by the new arrivals. The 3 major social networks that Forever 21 uses are, Facebook, Twitter and YouTube. The reason why the company uses social media is because most of us are involved in this sites to connect with people. An average person ages 13-40 uses social media at least 3-6 hours a day. Therefore, most of the businesses are engaged to the social media to make more sell by putting the advertisements in the Internet.  

 

There are 1.4 billion Facebook users around the world. Therefore, most small and big companies uses Facebook to advertise their products or services. Besides Social Networks, Forever 21 has applications for iPhone where customers can see the sales offer and new products. They have their own website too. The company also advertises their products through fashion magazines and fashion runways. However, the company do not have a television commercial yet. Forever 21 is not a big company to afford television commercial as other companies such as, GAP, Old Navy, Express, etc. Although it is not a big company yet, but it is growing faster than any other retailers. The company is known as the "Fast Fashion retailer". 

Forever 21 Website:   http://www.forever21.com
Facebook: https://www.facebook.com/Forever21
Twitter: https://twitter.com/Forever21
YouTube: http://www.youtube.com/user/Forever21Inc

Product Concepts

Forever 21 is one of the fast fashion retailer which is expanding around the globe. They are increasing product lines and opening up new stores every year. Forever 21 has a good collection of clothing, accessories, shoes and bags. Recently, Forever 21 is also selling beauty products in their stores. The retailer usually sell most of their products at a low price. Therefore, the quality of the products are not of a high standard. They do not have a brand name for their products. The retailer tend to make their products in China or India. Also, they buy some of their products from wholesalers in California and attach their Forever 21 tags to them. The retailer does not have any personal style because, they bring the runway designs to their stores by copying the designs. Forever 21 sells their products at a affordable price, and to continue to do that, they copy the designer's original designs with cheap materials to sell the products at a low price. "Forever 21 has faced more than 50 copyright lawsuits for allegedly stealing the work of designers, ranging from Anna Sui to smaller independent designers like Trovata, most of which have been settled out of court, according to a Jezebel report" (Business Insider). 

Even though Forever 21 sells all kinds of clothing and do not have a brand, they do have a trademark. The trademark is used to represent that the products are sold under their company. "FOREVER21 is a registered trademark, service mark, and/or trade name of Forever21 retailer"(Forever21.com). The trademark separate their products from other retailers such as H&M, Papaya, etc. Forever 21 does not have generic product name for their products. Generic product name means to identify a product by its quality or type and not by trademark. Forever 21 has similar products as the other competing retailers but, the only thing that people tend to shop from Forever 21 is because their products are cheaper than the other retailers. The product concept for this company is to make their product cheaper for the customers by providing products that are not of a high standard quality.

Personal Selling and Sales Management

Forever 21 provide details which explains their products when they are released in the market. The company introduces their product by fashion shows and advertisements. Also Forever 21 has a Facebook page where they updates the company's products every week. The company's "New Arrivals" are always introduced to the customers by the internet, posters or fashion shows. Forever 21 aims for teenagers who can be their long-term customers. The company builds their relationship with the customers by providing them with new trends from runways at a low price. Customers are never loyal to any company. People are always looking for better qualities with an affordable price. Therefore, customers are always looking for an alternative. For example, H&M is one of Forever 21's competition. If customers find similar cloths in H&M at a low price, then they will probably buy it from there. However, it rarely happens because Forever 21 searches the market before releasing their products. The company usually tend to lower their prices than the other stores.

Lowering prices keep the customers coming and the customers also prefer Forever 21 over other retailers because it is cheaper. The company also has products for sale on everyday bases and also in several occasions including Thanksgiving Day and Christmas sale.These sales events always keep the customers interested to go to the company's website and see the "New Arrivals". 

New Bat and Cat Collections