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.

Chapter 15- Retailing.

Victoria's Secret is a retail store originally owned by Limited Brands. Victoria's Secret operates over 1,000 stores in the United States of America and outside of United States of America. In addition, based on my visit to Victoria's Secret store at Green Acres mall, i was able to gather that they carry almost every product as all the other stores. For example, undergarments, fragrance, make-up, lotion and more. The location of this store has similiar hours in comparision to other Victoria's Secret stores for their consumers. This store is opened Monday-Saturday 10:00am-9:30pm and Sunday 11:00am-7:00pm. Victoria's Secret is located at 2034 green Acres Mall Sunrise Highway Valley Stream, New York 11581.

Based on the facts from my visit to this particular Victoria's Secret store, the services are excellent because someone is always there to greet you and make you feel welcomed. However, if you want to save time upon your visit, an associate is also there to help locate a product faster and is able to give information requested on that item.

Furthermore, i must say that during my visit, all products on display were well organized and labelled in each section. This particular store has accomodations for all customers from the young ones in stroller, elderly and to the individuals in wheelchair. This is so because there are escalators and elevators.

In conclusion, if this store does not carry an item or it is out of stock, the customer can purchase it online. However, if the consumer is not pleased with a product, the return policy is in full effect to return for a refund or exchange.

Chapter 6- Consumer Decision Making.

Victoria's Secret has been a hugh driver of financial success for the Limited Brand which is the parent company. Consumers pay more attention to what is hip and trendy in the marketplace as it relates in fashion. Advertising plays a big role in fashion decisions made by adults. For example, advertisers for Victoria's Secret has done a brillant job of creating visual image of sexiness which immediately comes to mind. Victoria's Secret do this by using famous super models to market their signature lines. This association is projected back to the customers who begin to believe they they can be as seductive as the Victoria's Secret models if they purchae such products. Before making any purchase, a buyer goes through a decision making process that is described in five steps according to my marketing text book:

1. Need recognition- occurs when consumers are faced with an imbalance between actual and desired states that arouses and activates the consumer decision making process.

2. Information Search- After recognizing a need or want, consumers search for information about the
various alternatives available to satisfy it.

3. Evaluation of Alternatives- After getting information and constructing an evoked set of alternative
products, the consumer is ready to make a decision.

4. Purchase- The evaluation is made by examining alternative advantages and disadvantages along
important product attributes.

5. Postpurchase Behavior- When buying products, consumers expect certain outcomes from the
purchase. How well these expectations are met determined whether the consumer is satisfied with the purchase.

The five steps listed and explained above represents a general process that can be used as a guide for studying how consumers make decisions.

The Victoria's Secret customer is first captivated by watching catelogs, browsing online or just by figuring out what are their desires. Women are giving the impression that if they buys the Victoria's Secret products, she will feel and be deemed as sexy. The consumer is shown that Victoria's Secret has an array of quality products that can produce enhancing results.

In addition, for women who may thing that Victoria's Secret clothing are too sexy for them, the Pink Brand is a more younger (13-30 years old) and fashionable clothing that customers would enjoy and be comfortable. The Pink line of clothing is basically aimed towards college students who are mainly seen in them. However, with Victoria's Secret and Pink together, consumers are more able to take their personal style to a higher level by wearing clothing that better suits their personalities.

Chapter 5- Developing A Global Vision.

Victoria's Secret has been able to succeed over the years to become a distinguished American brand. However, Victoria's Secret displayes a high value and takes pride in maintaining their outstanding brand.

Over the past years, the company has noticed growth in Victoria's Secret sales from foreign countries. For example, Canada, Australia and the Republic such as Georgia and Russia. The countries listed above are some examples of hugh opportunities that Victoria's Secret has nation wide.

 

 

 Victoria's Secret has been and still is a big profit generator to international countries. This is so because Victoria's Secret has alot of customers all over the world and when a customer cannot get that product he/she desire from a family member or relatives here, they would visit Victoria's Secret website to make their selection and purchases to be shipped to them.

 

In addition, whenever I visit my country in Guyana, I always take Victoria's Secret products to sell and my customers would purchase every single one of my goods available to them. Because i already know what my customers desire, I always satisfy their wants and needs. Also, me being the new kid on the block everytime, my prices are always reasonable and cheaper compared to my competitors.

 

Victoria's Secret also opened a few stores worldwide in 2009 and is continuing to venture into that same path of success. So, every single women from all over the world can have their desirable products at their fingertips and not having to worry about going online to shop and wait for shipment.

Chapter 4- The Marketing Environment.

Victoria's Secret products are designed mainly for women from ages Gerenation Y, X and to Baby Boomers and all ethnicity to satisfy their needs and wants. However, every season Victoria's Secret tends to upgrade their product to a newer version or a brandnew style and design in their various products. Some of the products would include the underwears, fragrance, lotion and make-up. Hence, the women always feel captivated by the goods.
 

                                           



 

 

 

 

 

 

 

 

 

 

 

 

 

In addition, Victoria's Secret stores are located in the centre of attraction for tourists and other shoppers which makes it easier for them to shop when it comes to cummute wise.

 

 

Chapter 3- Ethics and Social Responsibility.

Victoria's Secret not only provide clothes for women to feel sexy and products to smell and feel good, but they also practice business ethics and social responsibility. Victoria's Secret is one of the most famous women under apparel in the United States. It has locations all across the nation as well as an internet website allowing people to buy online.

Victoria's Secret has an annual sale and semi-annual sale each year. Both are offered on their online store and locational stores, and the prices are the same. However, when visiting the New Jersey Gardens Outlet Mall, the Victoria's Secret Outlet is always 75% off on the entire store. In addition, Victoria's Secret accomodate the needs and wants for any age group, whether its from the 20 year old college student to the 60 year old woman.

Chapter 2- Strategic Planning for Competitive Advantages

Victoria Secret spends up to an average of $65 million dollars on advertisements per year. Also, thousands of catalogs, newspaper ads and magazines are distributed to persuade women confidence and improve their demand.

In addition, Victoria Secret host their annual fashion show which is a centerpeice for the Brand's intricately designed and elegantly functioning advertising machine. However, this fashion show normally captivates hundreds of celebrities and entertainers with special performers and acts every year.

Victoria Secret setting is set to be enticing when it comes to the setting of their products and its always a success by helping customers get what they want and need at anytime or anywhere necessary.

Chapter 1- Victoria's Secret Mission Statement

Their mission statement is committed to building a family of the worlds best fashion brands offering captivating customer experiences that drive long-term loyalty and deliver sustained growth for our shareholders.  

Chapter 1- Victoria's Secret History

Victoria's Secret was founded in San Francisco, California, in 1977 by Tufts University and Stanford Graduate School of Business alumnus Roy Raymond. 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. The stores were meant to create a comfortable environment for men, with wood-paneled walls, Victorian details and helpless sales staff.
In 1992, after five years of operation, Roy Raymond sold the Victoria's Secret company, with its six stores and 42-page catalog, grossing $6 million per year, to Leslie Wexner, creator of the Limited, for $4 million. The Limited kept the personalized image of Victoria's Secret intact. Victoria's Secret was rapidly expanding into the U.S. malls throughout the 1980's. The company was able to vend a widened range of products, such as: shoes, evening wear, and perfumes, with its mail catalog issued eight times annually. By the early 1990's, Victoria's Secret had become the largest American lingerie retailer, topping the billion dollars.
Beginning in the 1995, Victoria's Secret began holding the annual Victoria's Secret Fashion Show, which is broadcast on prime time American television. The show is a lavish event with elaborate costumed lingerie, varying music, and set design according to the different themes running within the show. The show attracts hundreds of celebrities and  entertainers, with special performers and/or acts every year.