...MARKETING STRATEGIES Contents I. General View 3 II – Executive summary 4 III – Current market situation: 4 IV – SWOT analysis: 12 V – Objectives and Issues: 13 VI – MKT strategies: 14 VII – Action programs and Budgets: 15 VIII – Control: 19 I. General View 1. History: Victoria's Secret is an American retailer of women's wear, lingerie and beauty products that is owned and run by the Limited Brands Company. This company was founded in 1963 in Columbus, Ohio. Victoria's Secret was started in San Francisco, California, in 1977 by Roy Raymond who was Business alumnus of Tufts University and Stanford Graduate School. He felt embarrassed trying to purchase lingerie for his wife in a department store environment. He opened the first store at Stanford Shopping Center in Palo Alto, and quickly followed it with a mail-order catalog and three other stores. With this store he hoped that it could create a comfortable environment for men, with wood-paneled walls, Victorian details and helpful sales staff. Instead of racks of bras and panties in every size, there were single styles, paired together and mounted on the wall in frames. Men could browse for styles for women and sales staff would help estimate the appropriate size, pulling from inventory in the back rooms. In 1982, after five years of operation, Roy Raymond sold the Victoria's Secret Company, with its six stores and 42-page catalogue, grossing $6 million per year, to Leslie Wexner, creator of The Limited...
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...Victoria Secret is a Columbus, Ohio based Apparel Company. Roy Raymond found Victoria Secret. Victoria Secret is well known for lingerie, swimwear, beauty products, sleepwear, hosiery, etc. Company generates $ 5,700.2 million net sales from 1,098 stores. Victoria secret is mainly divided into three parts Victoria’s Secret Pink, Victoria’s Secret Beauty, and Victoria’s Secret. Middle class women are the target market of the company. Victoria Secret’s PINK targets mostly young age women (Lbrands, 2015). When it comes to marketing strategy, Victoria Secret is currently following Omni Integrated strategy. Victoria Secret has its official page on Facebook with more than 18.5 million fans. Victoria Secret is also pretty active on twitter, pinterest and YouTube (Wakefield, 2012). Victoria Secret relies a lot on e-mail marketing. It informs it’s customers about new products, special offers, and store events via e-mail. Victoria Secret also relies on Mobile marketing. Company has its exclusive app for Androids, IPhones, IPads, and IPods. Victoria Secret offers annual sales twice a year. It also organizes several fashion shows and provides online deals on official website of Victoria Secret (Victoria Secret, 2015). QUESTION NO. 1: How does the company use its home page to provide potential consumers with opportunities for additional exposure to the company and its products? Victoria Secret uses its home page in several ways to provide potential consumers with the opportunities...
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...could help the company stay relevant to compete against competitor or to attract new customers. In this write-up, I focus on the later purpose and analyze the benefit of Victoria Secret Company from repositioning their brand to attract the older customer segment and international markets. About Victoria’s Secret Victoria Secret is the leading specialty retailer of women’s intimate and other apparel with fashion-inspired collections, prestige fragrances and cosmetics, celebrated supermodels and world-famous runway shows. It’s a segment under the mother company Limited Brands. The brand is targeted to the late-teen and college-age woman with Victoria’s Secret Pink and sexy product lines, such as Angels, Very Sexy and Body by Victoria. The company established brand associations of young, sexy and unique. 4Ps Product: Sexy, colorful and young design Price: Average, no premium Place: Pink decorated store chain, young and dreamy theme Promotion: Heavy traditional advertising on TV and prints. The company also held globally famous specialty fashion shows “Victoria’s Secret Show” annually with their exclusive models known as Angels. Customer base Victoria’s Secret’s targeted customers are young women at age of 16 to 40. The company has repositioned the brand in 2007 to appeal to younger customers who are college and young teen ladies with the sub-brand Pink . They started with separate special Pink stores but now already turned almost all Victoria’s Secret stores into...
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...Marketing Plan for Victoria's Secret Sales As part of the efforts to achieve the desired marketing outcome, Victoria Secrets has set up goals and objectives to guide its marketing operations. The key purpose of these goals and objectives is to establish the key elements of the framework of future planning, which is important for the company to work diligently towards its mission. One of the sales goals and objectives of Victoria Secrets is to grow the sales of the company by at least 30% and its revenues 20% by the year 2016 (Workman, 2013). Another goal is to build effective customer relationships in the surrounding market as well as targeted distant market areas. In particular, the objective is to increase Victoria Secrets’ market share in its territory to the leading market-share 25% by the end of the year 2016 (Workman, 2013). Finally, the company’s sales objective is to place its product line into 30% of the business in the territory by 2016 (Workman, 2013). Sales planning for Victoria Secrets will be conducted by sales professional hired by the company to do so. The planning will be done upon the completion of the sales research conducted on the market. This is done by developing both the descriptive and supportive sales tactics and strategies that the company will utilize in the market. By carrying out the sales planning, the company adopts a strategy to effectively target, penetrate, and exploit the sales potentials in the marketplace (Holmes, 2012). In essence,...
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...Victoria secret utilizes a mixture of value added pricing and prestige pricing strategies. Victoria Secrets pricing strategy includes value added pricing by producing high quality clothing while offering additional features such as catalogues, brand recognition through its fashion shows, and aesthetically pleasing outlet stores to its customers [3]. Prestige pricing is also integrated into Victoria Secrets pricing strategy as the business is extremely recognizable as an exclusive and up-scale clothing distributor. Victoria secret uses prestige pricing to increase its sales price and put the perception of exclusive quality into the minds of its customers. This exclusive and high quality nature is enforced by the value adding features discussed above such as fashion shows. Lululemon: Lululemon utilizes a mixture of value added pricing and prestige pricing strategies. Lululemons pricing strategy includes value added pricing because the business attempts to create additional value for customers by adding additional features on their apparel rather than trying to cut costs by reducing features and the quality of materials used to produce their clothing. The existence of unique features such as clothing made of natural substances like seaweed adds value in the product perceptions of its customers and helps to justify Lululemons higher pricing [1]. Prestige pricing is an additional component of Lululemons pricing strategy. Lululemon produces high quality, unique, fashionable clothing...
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...A Review Of Victoria Secrets Marketing Essay Content starts here! Victoria secrets prominence in the fashion world, has been deemed as a womans dream brand, serving as the yardstick of what is palatable for most of the women nowadays. Victorias Secrets collections consist of barely-there pieces that push up our assets and enhance our beauty. From lacy, racy little numbers that will have the men drooling to cute, feminine combinations that are comfortable and flirty, Victoria's Secret has something for every type of person and personal preference. The Victoria's Secret label encourages women to show off their bodies. They do this by designing amazing pieces that show off what we like about our bodies and hide what we don't. What would we do without a label like this? This is my contribution to introduce a women's dream brand in India where individuals are increasingly considering good dressing, Victoria makes a difference. BRAND HERITAGE Ronald Raymond had an idea to make lingerie shopping a more “personalized” experience. He came up with this concept after having a bad lingerie shopping experience in a dept. store Raymond's store in Stanford Shopping Mall had wood-paneled walls, Victorian details and helpful sales staff. He stressed personalization above all else. The original “Victoria” was imagined to be a sophisticated, elegant, and well-traveled English woman who preferred luxurious items. VS still uses Raymond's concept of personalization and describes the brand...
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...Victoria’s Secret Unit 1 Assignment 1 “Victoria's Secret, currently a household name is a retail brand of lingerie and beauty products which is owned and run by the Limited Brands Company. On average Victoria's Secret accumulates more than $4 Billion in sales a year. With over 1000 retail stores around the United States it contributes 42% of corporate profits of Limited Brand (Victoria Secret)”. Victoria’s Secret is a unique brand. With sensual supermodels, world renowned photographers, and daring advertising, it combines mass-market access with prestige products. Based on the large market size of its home country, Victoria’s Secret has been so far tied up almost solely in the domestic business. “The United States is the birth place of Victoria Secret where the brand as well as the company has thrived to hold a sort of like monopoly status in the industry. They state that advertising and promotion is one of the main reasons as to why they are where they are. In an industry where the physical exterior is about everything, the business that sells an image and lifestyle advertising is critical. Victoria's Secret spends $66 million each year on advertising, essentially defining beauty and packaging it for consumers (McAfee, 2004)”. Victoria’s Secret’s customer satisfaction in receiving merchandise from its catalogs and Web site is critical to customer loyalty. “Being one of the United States leading sellers of lingerie, it is important for the Victoria’s Secret brand name...
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... Victoria Secret is an American retailer of women's wear, lingerie and beauty products, that has a huge brand recognition and it's well established as the leading retailer in its category around the country. It first opened in 1977 and operated the catalog system, mailing orders, but like many other retailers have done, it launched a Website to operate business directly with customers, on December 4th, 1998. This case study provides general information on how the Web site Victoriassecret.com operates their sales and marketing strategies. Victoria's Secrets Revenue Model The Web site was launched to strengthen and support the Victoria's Secret brand to exceed sales goals, and they use the Web Catalog Revenue Model, where they take advantage of the reputation of the brand, which is a very recognized intimate apparel brand, with sexy supermodels, top photographers and bold advertising, successfully adapting their catalog sales model to the Web, allowing customers to place order through the Website or by telephone. This way the company supplement their long time mail order system. In the Web site they display photos of clothing with their prices, colors, sizes, and availability in their stock. The customers can check the styles very carefully, the fabrics (as they provide a close up in the photo), and they even receive recommendations based on their choices, which makes it easier for them to choose from more options, and widens the chance for the company to complete...
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...Market Entry For Victoria’s Secret Contents 1) Executive Summary…………………………………………………………………………………………………..3 2) Business Environment Factors………………………………..…………………………………………………4 a. Demography …………………………………………………………………………………………………4 b. Political Stability ……………………………………………………………………………………………5 c. Economy ………………………………………………………………………..…………………………….5 d. Industry…………………………………………………………………………………………………………5 e. Market analysis……………………………………………………………………………………………..6 f. SWOT ……………………………………………………………………………………………………………8 g. Landscape……………………………………………………………………………………………………..9 3) Entry In Singapore: Market Feasibility Study……………………………………………………………10 h. Design …………………………………………………………………………………………………………10 i. Bold and Loud Brand Promotion …………………………………………………………………10 j. Rapid Growth of High-end Female Market………………………………………………….10 k. Price Barriers and Distribution Channels……………………………………………………..11 l. Overview…………………………………………………………………………………………………….11 m. Market Challenges and Opportunities…………………………………………………………11 4) Setting Up Retail Outlet In Singapore……………………………………………………………………..12 n. Documents Required for Registration……………………………………………..………….12 o. Registration Procedure and Timeline……………………………………………..……………12 p. Retail Outlets – Key Facts and Requirements………………………………………………13 q. Licenses for Setting Up a Retail Outlet in Singapore…………………………………….13 r. Hiring Staff…………………………………...
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...Company Analysis Founded in 1963 by Leslie H. Wexner in Columbus, Ohio, L Brands (NYSE: LB) has evolved from an apparel-based specialty retailer to a segment leader focused on women's intimate and other apparel, personal care and beauty categories that make customers feel sexy, sophisticated and forever young. L Brands sells its merchandise through specialty retail stores in the United States and Canada, which are primarily mall-based, and through websites, catalogue and international franchise, license and wholesale partners. L Brands is committed to building a family of the world's best fashion retail brands, offering captivating customer experiences that drive long-term loyalty. Under the continued leadership of founder Mr. Wexner, chairman and chief executive officer, L Brands employs nearly 100,000 associates. Pricing Strategy Victoria’s Secret implements a high-low or promotional pricing strategy. The brand sets a first price that is not outrageously high; however, it allows for plenty of room to allow for markdowns. Permanent markdowns are rare as there is generally only a small clearance area in each store. Instead, Victoria’s Secret utilizes many temporary markdowns through promotions like 5 for $25 panties and holiday sales. Customer Analysis Victoria’s Secret target customers are women between the ages of 18 and 49 who want to own fashionable undergarments and lingerie. 44 percent of Victoria’s Secret customers are between the ages of 18 and 34. The majority...
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...research is based upon the study of “Victoria’s Secret” Brand, it describes the brand’s evolution and its product line. The research covers semiotic analysis of Victoria’s Secret in terms of the Brand Ambassador, Visual Promotion material like Print Media, Brand Logo and other Graphics used in its promotion. However, the research does not cover in depth study of: marketing strategies, history and its several Product lines. “Buy the product, get the girl; or buy the product to get to be like the girl so you can get your man” CONTENT TOPIC PAGE NUMBER OBJECTIVE………………………………………………………………………… SIGNIFICANCE………………………………………………………………….. LIMITATIONS…………………………………………………………………… 1. INTRODUCTION…………………………………………………………. 2. …………………………………………………………………………………. 2.1 The history of Victoria secret……………………………………. 2.2.1 The origin…………………………………………………………………………………. 2.2.2 A brief timeline…………………………………………………………………………. 2.2 VICTORIA SECRET PRODUCTS……………………………………. 2.3 SEMIOTIC ANALYSIS 2.3.1 Ad campaign 1 2.3.2 Ad campaign 2 2.3.3 Ad campaign 3 2.3.4 Ad campaign 4 3. CONCLUSION AND SUMMARY……………………………………. OBJECTIVES: * Introduction to Victoria’s Secret * Evolution Of the Brand * A brief...
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...Conditions Communications Strategy: Victoria’s Secret Jasmine Rhodes Southern New Hampshire University Conditions Communication Strategy: Victoria’s Secret In December of 2011, Bloomberg News published an article that brought up allegations against Victoria’s Secret regarding one of their overseas suppliers. The news report stated that child labor laws were being violated by their cotton manufacturer in Burkina Faso, which is an undeveloped country located in West Africa (Simpson, 2011). This cotton is used in a small portion of VS panty styles, and the brand chose this supplier because they were certified as a Fairtrade, organic rain-fed, and pesticide free cotton. They also chose this supplier because this country struggled with poverty, and wanted the opportunity to create “life-changing opportunities for some of the world’s poorest women (lbrands.com).” According to the US Labor Department, Burkina Faso has had multiple reports of child labor instances, including forced child labor or forced labor among their women (Levs, 2011). After hearing these allegations, it was necessary for VS to take action immediately in addressing this matter, and they responded with an investigations of the UNPCB, the government of Burkina Faso, and Fairtrade International (lbrands.com). Their quick action was needed in order to show that they took the matters seriously and to prevent tarnishing the brand image. In times of crisis, there is a need for strategic...
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...line of product and would therefore need heavy investment in terms of promotion and advertising. Given the target market – “young customers” – that has been selected for Pink products, Victoria Secret would need to expand its traditional style of advertising in order to reach its target consumers since teenagers and young adults are a difficult group to reach. The second stage in the buyer process is interest. If consumers are interested, they will search for information about the new product. The company should ensure that current information is readily available on the company’s website or other media. After consumers gather the relevant information, they are now at the evaluation stage. This is where the consumer will decide whether trying the product makes sense. The consumer will weigh the benefits and cost of the product relative to competing products. The fourth stage in the buyer process is trial. If the customer perceived value is high, the consumer will try the product on a small scale. If after trying the product, it meets or exceeds the customer expectations, the customer will decide to adopt the new product through frequent or regular purchases. 2. Aspirational groups can be defined as groups to which individuals wish or aspire to belong. Victoria’s Secret is using buzz marketing by enlisting opinion leaders such as Lindsay Lohan and Sophia Bush who has social influence on Pink’s target market to spread the word and promote Pink’s brand...
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...Market: Victoria’s Secret is a retail brand product of lingerie, clothes and beauty products, which is owned by the Limited Brands Company. It has thousands of retail stores opened in the United States and few in Canada. The Products are available through the retail stores, catalogue and online business. Such fast growing market was established by Roy Raymond in San Francisco during the 1970s. Raymond went beyond from just providing the traditional white cotton piece for underwear that sold in department stores, because he offered different colours, patterns and style that created sexiness. Such sexiness is created by combining European elegance and luxury. A market is defined as the set of actual and potential buyers of a product or service (reference). The current market of Victoria’s Secret consists of woman ranging from different ages, especially the younger women age early 20s to mid-30s will buy and prefer to wear luxuries lingerie in order to feel sexy and impress their partners. Other potential buyers are teenage girls going through puberty (age 13+), because they are becoming more aware of their changing body and feeling more mature. Also, some women would buy other type of products beside the lingerie, such as the Pink product line of clothing or the beauty products. In countries such as Canada and United States, the culture is so diverse that the market consists of different ethnic groups. Other buyers are men who would give gifts to their girlfriend or wife. Such...
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...Group Consumer Analysis: Victoria’s Secret | MKTG 425-101 | Michelle Fox, Tyler Gullivan, Shannon Johnston, Sara Seeger, Colin Watts | Executive Summary Victoria’s Secret is one of, if not the most popular women’s lingerie and clothing store in the United States. They are known for their higher priced, sexy, and sometimes promiscuous clothing. Victoria’s Secret has come up with many different innovations after first opening their door, such as a make-up line, body care line, and PINK teenage line. The next logical step is for Victoria’s Secret to create a baby clothing line. The baby clothing line, entitled Baby Secret, would have various types of infant and toddler clothing, and would be classic and simple, yet fashion-forward. A focus group was interviewed to find out their feelings on the Victoria’s Secret brand as a whole, and the new baby line. From these findings, a rationale was built which helped form a new target segment, examples of possibly baby products, and recommendations of company changes in strategy and tactics. All of these elements confirmed the original proposition that the Victoria’s Secret new baby clothing line is the next logical step in the Victoria’s Secret expansion plan in order to generate more revenue, and capture a different target market. By capturing a different target segment with the baby clothing line, the hope is that these customers will become loyal Victoria’s Secret customers in future years. Table of Contents Executive...
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