Chapter 7- Business Marketing.

Victoria’s Secret implement excellent marketing strategies because its plain and simple. Also, Victoria's Secret is one of my all-time favorite stores, this is so because i tend to get glued into shopping there whenever they advertise something new.

Victoria's Secret uses the Business-to-Business electronic commerce because this is one of their main sources of income. In addition, over 55% of Victoria'Secret customers make their purchases through the company online sources. Hence, customers enjoy this because it saves them time and money through electronic advertisement discounts. Another reason why online is easier and reliable is because it offer opportunities to other companies to purchase in larger quantaties or at a wholesale cost to resell the products and make a profit.

Chapter 8- Segmenting and Targeting Markets.

According to my marketing textbook: Market is the people or organizations with needs or wants, the ability and willingness to buy. While on the other hand, Marget Segmenting is the process of dividing a market into meaningful, relatively similar, and identifyable segments or groups. Victoria's Secret as we all know is known for it's demographic segmentation. For example, advertisements being located next to landmarks and popular or over populated areas. This is so because Victoria's Secret normally focuses on the targeting strategy that has made the company successful because of a variety of important views to create acknowledgement of quality to the public.

Victoria's Secret has made its most success with the psychograpic segmentation and this is known as the basis of personality, motives, lifestyles, and geodemographics. Hence, the strongly and thoroughly appeals targeting their consumers.

Chapter 11- Developing and managing Products.

Everyone knows Victoria's Secret for its quality of coherence and all of their products meet the specifications of the designs. However, manufactures make these products acccording to the specifications and limitations that are given to them from the operation managers. Victoria's Secret is the leading retailer of lingerie and beauty products, dominating its world with modern fragrances and cosmetics. Victoria's Secret stores, catalogues and their website allow consumers to shop anywhere and anytime from any location available to them.

When it comes to developing, Victoria's Secret has a website which is www.victoriasecret.com, this website takes many typesof security measures. For example, policies such as limited access data-centers, firewall technology, uses of technologies, secure socket layer certificate authentication and limitations of administrative access to their systems. Moreover, Victoria's Secret have a return policy that if a consumer is not pleased with their purchase, Victoria's Secret will assist them with 100% refund or exchange.

Chapter 16- Integrated Marketing Communications.

Promotion is the communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an option or elicit a response. Hence, the goal of any promotion is to get someone to buy a good or service. However, if a company needs to succeed at their promotional goal, they need to follow a model called AIDA concept which stands for Attention, Interest, Desire and Action. For example, Victoria's Secret uses a rare and attractive promotional starategy which is normally the annual Victoria's Secret Fashion Show.

 

 

Attention- Victoria's Secret fashion show directors and organizers gain the attention of their target market by promoting the product before any shows, that product is normally lingerie.

 

Interest- Victoria's Secret has the information about the annual Victoria's Secret show online and can be viewed at www.victoriasecret.com. In addition, there is also an app available for tablets and smart phones which is convenient for people to check Victoria's Secret products at the finger tips.

 

Desire- According to all companies, their jobs are to convince the consumers that their products are the best and most valuable. However, Victoria's Secret uses their Angel supermodels to seduce the customers. For example, when women see these models in their outfits, they think that they can look the like the models or even better. When men see these models, they imagine their wife or girlfriend to look the same or even sexier.

 

Action- Even though Victoria's Secret earns an extremely large amount of money, they also lower their prices or give discounts as a way to earn more money.

 



 

 

 

 

 

 

 

 

 

Chapter 10- Product Concepts.

Victoria's Secret is the number one retailer of lingerie and beauty products. It normally captivates its audience with fashion collections, decadent fragrances, luxurious cosmetics, gorgeous supermodels, and exciting run way shows. However Victoria's Secret can be classified into more than one categories when it comes to Product Concepts. For example, Victoria's Secret falls under Convenience Product because it is relatively inexpensive for any women since Victoria's Secret target market is women. This is so because someone making at least minimum wage and is taking home an average of $275.00 per week can afford it; with the exception of last year $2 million bras designed by Damian, composed by $300,000 diamonds and 18K white gold. Also, Victoria's Secret is classified as a Consumer Products because they are brought to satisfy women's personal wants.

In addition, Victoria's Secret is branded by its design, combination and symbol which differentiates them from other companies. Victoria's Secret also has a major persuasive labelling because it focuses on a promotional theme and the customers information is important.

Chapter 18- Sales Promotion and Personal Selling.

Victoria's Secret uses promotional products to increase brand recognition and customer acknowledgement. The products can be used to attract new guests, reward local customers or build satisfaction withing the public. One of the strategies used by Victoria's Secret to keep their business interesting is to keep their customers captivated by indulging in their products and not only getting carried away by the discounts. Victoria's Secret has increase their beauty samples in the store so customers can try their products out before purchasing. Also, Victoria's Secret have a tendercy of putting product samples in customers bags after purchasing on their way out of the store. In addition, promotions such as free shipping with online purchases, discounts from $15 to $100 off and 75% to 250% off keeps Victoria's Secret clients coming back. However, during the different seasons Victoria's Secret also offers a variety of fun rewards and goodies. For example, for this current season a gold clutch is free with a $75 purchase.Keep in mind theses are just a few promotional sales that Victoria's Secret entails.

Secondly, Victoria's Secret stores has done an amazing job over the past years with their store personnel. Whether its via the telephone or in the store, Victoria's Secret has trained all employees to reach all customers satisfaction in helping them with finding a product or answering questions correctly just to name a few. Furthermore, employees make customers feel welcome and especially in a buying decision, all salesperson encourage customers that caring and showing interest in them is more important than just getting that product sold.



Chapter 17- Advertising and Public Relations.

Victoria's Secret spends over 65 million every year on advertisements which defines the beauty of their products to consumers. Some means of advertisements are the millions of newspapers, catelogs and fashion shows. These normally convinces women that are buying Victoria's Secret goods that it will enhance their appeal, boost their confidence and most of all feel awesome about themselves.

However, the fashion shows are the driving force for the advertisements because this normally get an audience of over 1 billion people.

Furthermore, the catelog is another important advertising machine due to its detailed pictures and information about the products. Also, over 400 million of the catelogs are distributed in the U.S.A. Moreover, Victoria's Secret also advertise on Facebook, Twitter and the television to widen the public knowledge of their specials and also new products. Lastly, i must say that one of Victoria's Secret strength is the seccessful advertising strategy.