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Thus far you have learned some of the basic constructs of market research and its relationship to planning. You are an existing company that sells to mainly females in the 15 to 24 year old demographic.
You have retail stores throughout the US in most of the major cities. Your clothing line is considered fashionable among this demographic that reside mostly in these major cities. Competition however has increased over the years and market share has steadily dropped.
Your company is thinking of expanding into the suburbs where there is less competition. The median income however is night as high in the suburbs as they are in the major cities and there is a concern that your clothing line may be considered too expensive for this new target area. In addition, the style of clothing may not be to the liking of this suburb demographic as well.
Your assignment is to develop a marketing plan by conducting some research and developing a survey that can be sent to this new potential demographic.
You must also consider new technologies, such as social media to reach this new demographic.
Your new marketing plan to find out whether this new demographic will purchase your clothing line in stores located in the suburbs will culminate in a market research report.
Verified Expert
The primary purpose of the paper is to demonstrate the marketing plan of a clothing retail company of the United States, the Forever 21. The company will be going to expand their business in the suburbs areas of this country because the competition rate in this place is quite lower than other areas of the country. The firm is going to manufacture new fashionable product line for the women of age between 15 to 24 years. Thus in order to demonstrate their new product offering the marketing vision as well as the objectives of the company has been well discussed in this context. In addition, a survey has been conducted that demonstrate the marketing materials and the market needs that should be essential for the firm to introduce the new good offerings.
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