Deqfeqf

DESIGN AND MARKETING

SUBJECT CODE: DM002

ASSESSMENT 1

T32013

LECTURER NAME:

KARYN WESTREN

STUDENT NAME:

PHAM THI THUY DIEM ( IVY) 123FPM3772

INTRODUCTION:

There are close to one million business buyers around the world. This is far short of approximately 18 million consumers but the total sales volume in the business market far surpasses the total sales to the consumer market. Therefore it is very important in understanding the behaviour of consumers because it involves individuals making purchasing decisions. This report research about Forever 21 brand to understand the fundamental principles of consumer behavior, including identifying customer needs and how these translate into demand.

Forever 21 is a chain of clothing retailers throughout the World offering fashion and accessories for young women and men. Most of the retailer's apparel is private label and made in Southern California, with the exception of their "Fabulous Finds", which are very cheap items imported from Vietnam. Forever 21 typically serves the same audience and competes with Urban Outfitters, Wet Seal, Guess, Deb Shops and Charlotte Russe.

CUSTOMER ANALYSIS:

CUSTOMERS:

There are three types of customers

1. Consumer

2. Business

3. Government

CONSUMER DECISION PROCESS:

The consumer purchase decision process is generally viewed as consisting of sequential steps or stages through which the buyer passes in purchasing a product or service.

* Problem recognition

The first step in the consumer decision-making process is that of problem recognition, which is caused by a difference between the consumer’s ideal state and actual state. There are various causes of sources of problem recognition. These include:

* 1. Out of stock

* 2. Dissatisfaction

* 3. New needs/wants

* 4. Related products/purchases

* 5. Marketer induced problem recognition

* 6. New products

* Information Search

The second step in the consumer decision making process...