Ch.7 Business Marketing.

Victoria Secret's business uses a marketing strategy for the sole purpose of personal consumption. Victoria Secret pride themselves on their high quality products. While the other big brand name retailers try to different ways to get into social media to advertise their products, Victoria Secret is creating excitement of their own with a network TV holiday fashion show featuring young women wearing Swarovski crystal-decorated lingerie strutting down a runway in 6-inch heels. Victoria Secret's fashion show is very important to their business marketing. 

 

 

 

 

 

It serves as the stepping stone for efficiency. Last year, they received a high rating with 22.5 million viewers, most of them were women. The lingerie chain's marketing approach is in sharp contrast to most industry trends.

Ch.8 Segmenting and Targeting Markets.

Victoria Secret also has a nice price range making merchandises affordable for all classes of people. Victoria Secret also has different lines of merchandise such as Pink which suit a younger group of females. Pink attracts females such as college student's who range from 16-29. The clothing's bright color's and designs of the merchandise attracts younger females which brings to the stores.

Victoria Secret target market is for females ranging from 18-45. The purpose of going to Victoria Secret is for women to feel good and look sexy. Victoria Secret clothing line ranges from swim suit wear to lingerie's so they can meet all day and night occasion's. It isn't all about the sexiness but also about the quality. The quality of merchandise's from Victoria Secret beat's other rivaling competitions therefore making it a must go to for women. 

Ch.11 Developing and Managing Products

Victoria Secret has new products every month. New product ideas that survive the initial screening process move to the Victoria Secret analysis stage,where preliminary figures for demand,cost ,sale and profit-ability are calculated. For example, the new products Victoria Secret are planning to show this month, most of them are bath and body work whole sales,and winter's perfume section.Like Pink Body Skin, The Naked, Miraculous, Very Sexy,and the new famous product are "Bombshell in Love". The reason why they are creating most of these bath and body work cause of the winter,especially for Christmas Eve and Valentine's Day. The role of new product is very important to the company's brand. It shows of how Victoria Secret developed such a strong brand by itself with new product every month.

Ch. 18 Social Media and Marketing

Victoria Secret uses social media to boost their advertisement to a new level. Social media such as Twitter has been a big help to he Victoria Secret franchise. With over 2,500,000 followers the number of people talking about Victoria Secret and advertising it boosts up the sales for the franchise. This is a good marketing strategy that not only boosts the sales revenue for the franchise but also helps in the growth of the Victoria Secret franchise.Thus, Istagram is also a advertising that Victoria Secret Uses. Instagram is a popular app to shares photos of new products and merchandise onto the social media that millions to see it. So, it's the best way for Victoria Secret gaining more follower via social media.

Ch.10 Product Concept

Victoria Secret pride themselves on their high quality products. All Victoria Secret products uses materials and fabrics that makes the products last longer and does not wear out as much as products from other competitions. Victoria Secret also produces products based on age for females. This consist of packaging,  styles, color, and designs. Victoria Secret is trying to become the dominant clothing line and brand out of all the other. Victoria Secret aims to showcase the product best qualities and maximum features of the product. Marketers spend a lot of time and research in order to target their attended audience.Especially for the packaging concept, Victoria Secret know how to design it and make it like small, good and cute for female customer. This is a very good idea for the product concept of Victoria Secret.Plus,they know how to com-positive the color with making cute and sexy style.This would attractive to most of teenager female to keep being a big fan of Victoria Secret.

Ch 17.Personal Selling and Sale Management

Victoria Secret has well trained staffs and workers. They are all train to be discipline and show respect to all customers. All workers are to be friendly and helpful to other workers and most importantly the customers. Sales management is very important to the company and is one of their main priorities. It is an important business function as net sales through the sale of products and services and resulting profit drive most commercial business. These are also typically the goals and performance indicators of sales management. Sales Managers are required to a good job so that they can meet their goals and requirements.

Ch. 16 Advertising,Public Relations and Sales Promotion.

     Victoria Secret uses most basic form of advertisements from TV commercials, magazines, poster and more. This allows people to see our company and be interested in our products. It also opens our advertising array to lots more people. Victoria Secret also have sales promos where it boosts brand recognition and customer exposure. Promotional products are highly effective for companies with a clearly defined audience and limited budget. These products can be used to attract new clients, reward loyal customers, or build credibility within the public sphere. Every year Victoria Secret holds a fashion show that boosts their popularity and also introduce their new designs and products. The models are an important factor in the advertisements of the Victoria Secret franchise because if they were not attractive than customers would not like the products. We can conclude that Victoria Secret has spent a lot of money and time on their advertisements.

Ch.14 Marketing Channel and Retailing

Victoria Secret's marketing channel involves multiple processes before the buyer can actually purchase the product and wear it. Victoria Secret products are manufactured in several different countries such as China, Israel and Jordan. After being manufactured all products are then shipped by sea to the united states where they are distributed among all the Victoria Secret branches where they will be sold to females all over the United States.

Victoria Secret branches then determine how they will retail and price each product to be sold based on the style and whether it is a new line or not.

Ch.6 Consumer Decision Making

Victoria Secret advertises their products by commercials, internet and magazines. Females who see Victoria Secret advertisements are given the impression that by wearing their products they will feel that they are sexy. By being shown the advertisements females are shown the large array of different designs that Victoria Secret carry in their inventory. After that the buyer would go collect information on the item that they are looking to buy. They would go online to find out more or just go to the Victoria Secret store and try out the product. 

Once they have collected the information on the product they would compare the products with other competitions and brands. After the comparison they will find out that other competitions are not as affordable and the quality is not as good as Victoria Secret, Finally the buyer would go to the store or purchase the product online.

Ch 5. Developing The Global Vision

We can see that Victoria’s Secret is coming up with Global Vision. Victoria's Secret is one of the most prestigious lingerie brands not only in America, but all over the world. However, that does not stop the company to continually work hard to make it even more successful. During the past few years, Victoria’s Secret has seen a noticeable growth in its catalogs and website sales in foreign countries, especially in Australia, Canada, Singapore, and the Soviet countries such Russia and Ukraine even Georgia. These countries are prime examples of the big opportunity that Victoria’s Secret has internationally.  The reason why they want their company to be known around the world is because they want to make their company even more popular and to get more consumers not just in America. Victoria’s Secret’s marketing include doing advertising on televisions, magazines and the internet via their official website. Victoria’s Secret website has been a big profit generator for the company in foreign countries especially today where almost all people around the world have access to the internet.

Ch.4 Marketing Environment

  Victoria's Secret markets is directed specifically to women. Its diversity of products is designed to satisfy the desires of women of all ages from ten-years-old girls to sixty-years-old women. Victoria's Secret products aren't pricey, so every woman, even men who want to give an attractive gift are able to afford it. The environmental management is very active and important in this particular company. This is what this company it's all about, creating new designs and products for the consumers to buy. Every season Victoria's Secret brings a new design as underwear, make up and perfumes. We can also consider this strategy as a component lifestyle because they practice diverse of goods and services that interest the needs of their consumers, instead of practicing a single product.

There are many Victoria Secret's stores  around New York City.Especially the most biggest one are in 34St New york downtown.  In a place where million of New Yorkers transit daily.So, it will be very good place to do their marketing . 

Ch. 3 - Ethics & Social Responsibility

Victoria’s Secret not only provides clothes for women to feel sexy in, they practice business ethics and social responsibility. Just look at the back of their catalogs:

As a value-led organization, Victoria’s Secret is integrating the protection and preservation of  global resources into our everyday business practices.  It’s part of doing what is right, and  means we’re committed to sustainable, responsible and thoughtful environmental behavior.
We are proud to deliver the Victoria’s Secret catalog printed entirely on Forest Stewardship  Council certified paper.  As an environmental leader in the catalog industry, we are pleased to  be one of the first to make such a move.  The FSC logo allows consumers to recognize  companies that support the growth of responsible forest management worldwide.

Ch. 2 - Strategic Planning for Competitive Advantage

 

Current Marketing Situation Victoria’s Secret, the largest subsidiary of Limited Brands, Inc. and #1retailer of women’s intimate apparel, is based out of Columbus Ohio and hasmore than 1,000 stores throughout the United States and Canada. Victoria’sSecret, creator of the Miracle Bra (1994), is known for its quality bras,underwear, and lingerie. However, they have extended their brand into hosiery,fragrance, apparel, and beauty products, such as lotion, makeup, and hairproducts. Victoria’s Secret is known for their many bra and underwear fits andstyles. Their products are available in appealing colors and patterns. TheVictoria’s Secret Pink line also contains less expensive bras, underwear, andapparel aimed at a younger college-aged audience.

 Each year over three-hundred ninety million copies of the Victoria's Secret Catalog are distributed in the United States alone. Victoria's Secret catalogs are by far thee most  prolific than many news magazines.
What the company of Victoria's Secret doesn't spend on internet and television ads, fashion shows, or its catalog is put into newspaper and magazine ads. Due to the lifestyle of a high population in the United Sates alone leaves people with the comfort to read it in the New York times, newspaper, including Cosmopolitan, In style, Glamour, Allure, and last but not least Maxim. 

 Victoria's Secret sells merchandise throughout several channels which are retail stores, catalogs and the internet just with this 360 degree approach reinforces the company's brand and expands sales opportunities, helping customers to buy what they need and want at anytime and anywhere. 

As we already know that (The Limited) has bought Victoria's Secret. With Bill Lepler being The Limited's vice president he affirms " The customers buying Victoria's Secret products through multiple channels spend three to five times more than customers who buy only through one channel".


With the reputation Victoria's Secret has gained throughout all the years in business the Victoria's Secret products represents fun, romance, fantasy, desire, and love all in one.

Chapter 1: Victoria's Secret Mission Statement.

   The mission statement for the Victoria's Secret retail chain is the same as its parent company, Limited Brands, and as "captivating" as the merchandise mix in the Victoria's Secret stores and catalog. The Limited mission statement is... "Limited Brands is committed to building a family of the world's best fashion brands offering captivating customer experiences that drive long-term loyalty and deliver sustained growth for our shareholders."

The first history of Victoria secret .

   Victoria's Secret was founded by Tufts University and Stanford Graduate School of Business alumnus Roy Raymond, and his wife Gaye, in San Francisco, California in 1977.

   Victoria's Secret grossed $500,000 its first year of business at the Stanford Shopping Center, enough to finance to expand the company from a headquarters and warehouse with four new store locations.

   Raymond's philosophy of focusing on selling lingerie to male customers was becoming increasingly unprofitable; Victoria's Secret was heading for bankruptcy.

  Raymond sold Victoria's Secret Inc., which was grossing $6 million annually with its six stores and 42-page catalogue, to Leslie Wexner, creator of Limited Stores Inc of Columbus, Ohio, for $4 million, a figure later disclosed;at the time the deal was made, the New York Times reported that the sale price was not disclosed.

  In 1983 Leslie Wexner revamped Victoria's Secret. He discarded the money-losing model of selling lingerie to male customers and replaced it with one that focused on, specifically, females. Victoria's Secret transformed from "more burlesque than Main Street" to a mainstay that sold broadly accepted underwear.

  In five years of the purchase The Limited had transformed a three store boutique into a 346 store retailer.

In 1985 Howard Gross is promoted to president from vice president.

  ^{By 2000 slower sales growth from Victoria's Secret Direct, the catalog division, relative to other divisions led to a management change at the catalog division. Specifically in May 2000 Wexner installed Sharen Jester Turney, previously of Neiman Marcus Direct, as the new chief executive of Victoria's Secret Direct to turn around lagging sales at the catalog.}

By 2006 Victoria's Secret's 1,000 stores across the United States accounted for one third of all purchases in the intimate apparel industry.

In May 2006 Wexner turned to Sharon Jester Turney who had led the Victoria's Secret catalog and online units to lead the whole company by promoting her to the top.

In September 2006 it was reported that Victoria's Secret were head-hunting writers from Women's Wear Daily to incorporate a more magazine feel into the text within their catalogs.

In 2008 CEO Turney acknowledged the disconnect between the company's "product quality that doesn't equal the brand's hype".