Overview:
Forever Young will strategically position itself as a full-service clothing retail by offering products that are difficult for competitors to replace. This positioning requires a balance between location, store layout, customer service, relationship management, price, and differentiated products. These components help to create a retail mix that has a sustainable competitive advantage over the competition, while meeting the vast range of stakeholders in the target market area. The strategic positioning will be based upon quality, value, and differentiation.
Industry Trends:
The clothing retail industry has sustained during the economic recession of 2008. This recession has created global competition for companies who strive for greater market shares, increased revenues, and more profit (Bui, 2013). The United States had to deal with the high unemployment rates while labor costs, domestically was rising in 2013 (Bui, 2013).
Target Market:
The decision to buy …show more content…
The atmosphere of the store will be comfortable, safe, and inviting. We want every visit to be delightful that invites customers to return with a smile. Annually, we strive to improve to become the best women’s retail store possible. Our principles are to make women feel beautiful and happy. The stakeholder is working together around the clock to make these goals and values a reality. Forever Young will reinforce these messages in the store, including marketing, affordability, value, accessibility, personalization, and long-term customer relationships.
Marketing Strategy:
To expand the target market advertising will be segmented to different groups, but still keeping the company’s message clearly understood. The residential income will influence the prices of the products in Forever Young to ensure that the target market can afford majority of the products sold.
Marketing
Forever Young will strategically position itself as a full-service clothing retail by offering products that are difficult for competitors to replace. This positioning requires a balance between location, store layout, customer service, relationship management, price, and differentiated products. These components help to create a retail mix that has a sustainable competitive advantage over the competition, while meeting the vast range of stakeholders in the target market area. The strategic positioning will be based upon quality, value, and differentiation.
Industry Trends:
The clothing retail industry has sustained during the economic recession of 2008. This recession has created global competition for companies who strive for greater market shares, increased revenues, and more profit (Bui, 2013). The United States had to deal with the high unemployment rates while labor costs, domestically was rising in 2013 (Bui, 2013).
Target Market:
The decision to buy …show more content…
The atmosphere of the store will be comfortable, safe, and inviting. We want every visit to be delightful that invites customers to return with a smile. Annually, we strive to improve to become the best women’s retail store possible. Our principles are to make women feel beautiful and happy. The stakeholder is working together around the clock to make these goals and values a reality. Forever Young will reinforce these messages in the store, including marketing, affordability, value, accessibility, personalization, and long-term customer relationships.
Marketing Strategy:
To expand the target market advertising will be segmented to different groups, but still keeping the company’s message clearly understood. The residential income will influence the prices of the products in Forever Young to ensure that the target market can afford majority of the products sold.
Marketing