Final Marketing Plan, Victoria Secrets Essay Sample

own unique identity. However, they all maintain a high level of quality in their offerings and presentations.

The success of Victoria's Secret is largely credited to Grace Nichols, who joined the company in 1986 as vice president and general merchandise director. Nichols brought with her the elegance and sexiness that the mega-brand is famous for. In 1988, she continued to make significant contributions to Victoria's Secret.

She became the executive vice president in 1991. Nichols was appointed as the President and CEO of Victoria’s Secret. She led the company under Nichol’s guidance.

According to White (2004, p. 1), Victoria's Secret has achieved global recognition and is now one of the top 10 trade names worldwide in the retail industry for intimate apparel.

Nichols and Weikel both hold the position of Presidents at Victoria's Secret, following a co-leadership model. While Nichols focuses on the merchandise aspect, Weikel handles the operations. These roles align with the mission statement of Limited Brands.

Victoria’s Secret parent company, Limited Brands, is dedicated to building a portfolio of the top fashion brands in the world in order to generate long-term growth for shareholders. This is achieved by prioritizing the company's time and talent.

The likelihood of getting a good return largely relies on the description and capital. The attire a man dons plays a vital role in defining his character. Thus, a man's undergarments hold great importance for his external image. Historically, men's underwear was not regarded as a fashion statement.

Any type of underwear that did not bag, sag, bunch, or shrink in the wash was considered Inequal. Victoria Secret understands that a man's needs go beyond the traditional long underwear with the back two-button flap that

were worn many decades ago. "Once the epitome of practicality and dignity has silently disappeared, that is that the back of a man's underwear should be a large buttonable square of fabric, which could hilariously roll if left unfastened" (Graham).

In recognition of the evolving trends in men's fashion, Victoria's Secret acknowledges the need for change and is poised to introduce the Victoria's Secret Men's line. As an extension of our brand, we will be offering our expertise in the design of men's underwear and sleepwear. Our latest creation, a distinct brief, showcases exceptional design, unique fabrics, and vibrant colors in captivating combinations.

There is now a wide variety of options for underwear, catering to different styles and needs. Initially, underwear was primarily marketed for fashion purposes, but now it is also available for athletic, casual, and romantic purposes.

There are multiple aspects to consider when it comes to figure sweetening such as heat (thermals) and wit. Furthermore, these aspects are complemented by double intents, including the inclusion of pockets from the same shop that has established their women's sleep/underwear line as the frontrunner among all others. Additionally, there are some added features to consider.

The latest and trendiest style today is all about seamless designs, particularly in women's clothing. Victoria's Secret is the perfect company to embrace this fashion trend. Executives in the manufacturing, retail, and marketing industries acknowledge that the main challenge lies in comprehending cultural differences and their impact on individual preferences (Monget). Various styles of bikini and boxer shorts are available in Victoria's Secret's collection.

For the modern man's gustatory sensations and penchants, there is a wide range of products available, including lashes, strings, drawers, and

athletic supporters. Most brands cater to the preferences of young, thin individuals.

The focus is on unclothed male models as the selling point for various brands like Calvin Klein, Sauvage, Tommy Hilfiger, Jockey, and many others. These brands display their provocative advertisements in magazines and billboards everywhere.

There is no denying the significant influence of sex appeal in marketing today. Victoria’s Secret, a well-known brand specializing in lingerie and sleepwear, has effectively harnessed this idea. They have expertly employed sex appeal as a means to stand out from their rivals. Victoria’s Secret predominantly distributes their merchandise through their own brick-and-mortar stores, catalogs, and websites.

The men's line from Victoria's Secret will be purchased by both buyers for their shops and end-consumers. The target market for expanding into men's intimate clothing will be extensive and varied, encompassing men of all ages. They will appreciate the luxurious feel of silk pajamas and boxer trunks, as well as the range of other undergarments and slippers that are part of the new launch. The product assortment will prioritize comfort, fit, quality, and style.

Victoria's Secret will soon be expanding its product offering to cater to female customers who already buy their women's line of bandeaus, panties, intimate apparel, and beauty products such as fragrances and cosmetics. The new addition to their collection is the Victoria's Secret men's line which will provide a diverse selection of men's intimate wear.

The collection includes a variety of underwear styles, pyjama options, robes, and undershirts. These items come in different designs and colors, all made from cotton fabric.

Customers can find lasting comfort with a variety of fabrics, including poly-cotton blends, satin, silk, and cotton-spandex blends. These options are

designed to help break free from the mundane routine of white underwear. Additionally, the ensemble will include cozy cotton slippers.

Victoria's Secret has a patented design that includes a seamless and removable ticket, ensuring there is nothing between the customer's skin and clothing that could cause discomfort. Whether customers are seeking casual, romantic, or fashionable intimate wear, Victoria's Secret offers a wide range of options for both day and nighttime.

The different types of men's underwear include drawers, pugilist Jockey shorts, regular Jockey shorts, bikini, and lashs. These underwear styles are made of cotton.

cotton-poly blend and silk. The Victoria’s Secret underwear is characterized by a seamless and removable ticket design, ensuring both comfort and functionality. All items in this line are guaranteed to never pouch, droop, bind, or shrink.

Men's sleepwear options are designed to complement the customer's lifestyle while providing warmth and comfort. Pajamas are offered in various solid colors and prints, and are available with both long and short bottoms. The fabric choices for pajamas include a cotton-poly blend or satin. Coordinating tie wrap robes are also available in both hooded and non-hooded styles. Additionally, men's undershirts can be found in both crew and v-neck options.

Victoria's Secret offers singlets in cotton, cotton-poly, and cotton-spandex blends. These stylish under-shirts come in a variety of solid colors and prints that match the men's underwear line. All of the under-shirts from Victoria's Secret feature a seamless and removable ticket design.

S.W.O.T.T. Analysis

Victoria's Secret's proposed new merchandise line is not without endless opportunities and boundless challenges.

Identifying these opportunities and challenges will support our sales team in their decision-making efforts. The final decision will undoubtedly carry on the tradition that

Mr. Raymond envisioned of a cozy-inviting atmosphere similar to that of a Victorian boudoir. Strengths: A leader in the industry for over 20 years, Victoria’s Secret's expansion into a men’s line would give potential customers the chance to purchase clothes for men from a trusted name in the intimate apparel industry.

Additionally, Victoria's Secret effectively places their clothing catalog in the hands of millions of shoppers. According to www.yahoo.com, "Victoria's Secret Direct."

Victoria's Secret, a brand specifically made for women, sends around 395 million of its sexy catalogs per year. These catalogs offer intimate clothing, women's attire, and footwear. The 395 million catalog holders serve as a significant potential client base for the brand.

Male customers in a Victoria's Secret store may be more likely to purchase items for women rather than themselves. The brand has always focused on attracting female shoppers, but it might take some time for male shoppers to consider buying men's underwear and nightwear from Victoria's Secret.

However, the current male customers present an opportunity to attract new shoppers who are interested in the new merchandise line.

Male shoppers are reported to spend more than females on St. Valentine's Day gifts, according to a company spokeswoman. The average male shopper is projected to spend around $126, with the minimum gift price being approximately $100. This trend proves advantageous for both male shoppers and Victoria's Secret.

Based on information from the National Retail Federation, men spent $96 on Valentine's Day this year, while women spent $38.22 (source: www.cnnmoney.com, 2003). Furthermore, there are concerns about competition from brands like Hanes.

Joe Boxer and Fruit of the Loom are well-known brands for men's underwear, which poses a significant threat to

Victoria's Secret's proposed line. According to market research conducted on the website World Wide Web. marketresearch.

According to com (2003), retail merchants and makers of men’s underclothes face a significant challenge. Many consumers, especially men, do not view underwear as a fashion item. They see it as lacking potential for self-expression or aspirational purchasing. The Victoria’s Secret brand may be considered too fancy for men’s underclothes. The current trends for men's underwear are centered around comfort. Most men prefer either drawers or Jockey shorts. It's a matter of personal preference.

Simon Doonan, creative director at Barney's New York, believes that if Victoria's Secret can discover what makes men comfortable and produce affordable products, then venturing into the men's intimate apparel business could be fruitful. To ensure the successful launch of our new men's line of unmentionables, thorough market research and strategic marketing are essential.

Victoria’s Secret aims to achieve its goal of selecting the most effective strategies and tactics through a three-step marketing research procedure. The initial step involves close collaboration between our marketing team and the merchandise development department. This collaboration enables us to gain knowledge about various products, including their comfort features.

Clothes and available styles and colors. This research will provide the marketing team with a comprehensive understanding of each product in the new line to effectively market the underwear.

The second step in our marketing research program is to conduct point of sale studies with our existing customers. The surveys will be presented to customers during their purchases and will request them to participate by calling in and answering a few questions. This survey will provide valuable information to the marketing team about the buying habits

of both male and female Victoria's Secret customers.

The final step in our marketing research program involves analyzing the demographics of our current customers and identifying which market segments are more likely to purchase items from our new men's line.

Following market research, our sales team will gain a comprehensive grasp of the best sales techniques and approaches to promote our latest range of men's products. Market segmentation is a critical phase in launching a new or enhanced product, as failing to identify a lucrative market can result in substantial financial losses. Consequently, it is vital to establish the criteria for segmenting the market to ensure a successful product launch. Numerous criteria exist for market segmentation, and we find it advantageous to initially focus on Victoria's Secret's existing customer base.

The team is optimistic that if men enjoy Victoria’s Secret products for their significant other, they may also consider purchasing the male version of those products. Another important fact the team will utilize is that most men’s fragrances are bought by women, indicating that women are likely purchasing men’s underwear as well. By leveraging the existing Victoria’s Secret customer base,

The mission of the team is to target a specific segment of the market that shares similar preferences. Another criterion for market segmentation is that it should be a substantial market. Given Victoria's Secret's long-standing presence in the industry and their reputable brand name, the team is confident that there is a sizable market to promote a new men's line. Additionally, the market segment must be actionable, helping the company determine the marketing mix they want to use. The information should be concrete, such as age.

Income or location (McCarthy

Perreault, 2002) is important for business success. Additionally, the market needs to be accessible and the team should be able to effectively reach and target the desired demographic.

After developing the standards to segment the market, the sellers need to decide if they will target a single, multiple, or combination market. This decision is influenced by the wide range of products that Victoria's Secret will release in their new line.

Victoria's Secret has the capacity to meet varying demands in different markets. They, like other organizations, must determine if the new product being launched will benefit both the company and its customers.

The squad acknowledges that the organisational purchasers for Victoria's Secret must satisfy the needs and requirements of the organization. Organizations purchase goods and services to meet the demand for the goods and services they provide to their markets. Essentially, the organization's primary objective is to satisfy their customers and clients (McCarthy & Perreault, 2002). As a retailer,

Victoria's Secret engages in the purchase of merchandise from manufacturers, ensuring that it can resell them to customers at a profit. This is done through both internal and external sellers. The organization can make use of three purchasing procedures, namely new-task purchasing, straight rebuy, and modified rebuy. Victoria's Secret has access to these three types of purchasing procedures.

Singing the new line of menswear, the squad is introducing a new-task purchasing element that could impact the buying decisions of both organizational purchasers and consumers. This type of purchasing arises when an organization has a new requirement and the customer seeks a significant amount of information (McCarthy & Perreault, 2002). Typically, the term "customer" is associated with the end consumer who

buys from a retailer. However, many marketing managers target customers who are not final consumers.

According to McCarthy & Perreault (2002), concerns and other organizations make more purchases than individual consumers. Relationships also have a significant impact on the buying decisions of organizational purchasers and consumers. Perreault & McCarthy (2002) propose that most buyer-seller relationships aim to reduce the customer's total procurement costs. However, some relationships are based on reciprocity, which means trading sales for sales. Victoria's Secret exclusively markets their products through their own stores.

Both catalogs and the Victoria's Secret website will feature the new men's line, targeting both buyers for their shops and end-consumers. The expansion into intimate menswear aims to appeal to a wide range of men, who will enjoy the luxury of silk pajamas, boxer shorts, and a variety of other underwear and slippers that are planned for the launch.

The assortment of products will also prioritize comfort, fit, quality, and style. These products will cater to women who currently purchase items from Victoria's Secret women's collection, such as bras, panties, lingerie, as well as beauty products like fragrance and cosmetics.

Featherbedding of the workforce is soon to occur in people's lives. Positioning refers to the process of designing a company's offerings and image in order to occupy a specific place in the minds of the target audience (Karia, 2004, p. 2).

The ultimate result of effective positioning is the successful creation of customer value and a compelling reason why target customers should purchase a product. The Victoria's Secret brand has proven its ability to position itself in the marketplace. The brand represents sexiness, glamor, luxury, and value. It has truly become a destination in

every major mall in the United States.

Due to its influential positioning ability, the clip introduces a fresh class at Victoria's Secret, featuring an alluring and refined line of men's confident apparel called Lil' Devil's. The aim of positioning is to convey a central concept about a company or product to the target audience. Differentiation surpasses positioning by creating a intricate network of distinctions, highlighting the need to differentiate one brand from another in a similar market (Karia, 2004).

p. 2) Differentiation is the act of incorporating meaningful and valuable differences into a company's offerings, with the intention of distinguishing them from competitors' offerings (Karia, p. 2). Product differentiation and merchandise placement are fundamental concepts in a firm's marketing strategy and are closely connected (Karia).

p.2). No company can be successful if its products and offerings are identical to those of every other company. In today's market, most companies struggle because they have the same strategies (Karia, 2004).

p.1 ) . It is crucial for companies to have effective and meaningful place and distinction strategies ( Karia. p. 1 ) . Victoria's Secret has successfully showcased their expertise in product placement and will continue to do so with Lil' Devil.

The company is also planning to implement differentiation strategies. One of these strategies is the use of unique and innovative textures in the fabric of their products. Another aspect of the differentiation strategy is the inclusion of branding on all products in the men's line. Additionally, the Victoria's Secret catalog will provide extensive coverage, including a two-page spread. No other men's intimate apparel company offers these distinctive features. Differentiation can be achieved through various methods.

The range of distinction in

the marketing mix primarily depends on the merchandise, which is a crucial component. It plays a pivotal role in differentiating the product from the other four P's (Karia, 2004, p. 3). In conclusion,

The company should aim for its clients to express that "it's different." Being different creates individuality and brand loyalty (Karia, p. 3). All products go through a product life cycle.

The merchandise life cycle starts with the introduction of the product and continues until it is discontinued. The duration of the merchandise life cycle can vary from 90 days to 100 years (McCarthy, Perreault 2002). Therefore, it is crucial to comprehend the impact of the product life cycle on Victoria's Secret Lil' Devil's line. It is important for the product to quickly pass through the market introduction stage because Victoria's Secret is already a well-known brand, making it easier to introduce new products to consumers.

We have the advantage of presenting this to bing clients to get the word out about our new line. Once the merchandise is introduced, we enter the market growing stage where it is expected that we will see an increase in gross revenues and net income. However,

We need to be cautious not to make the same mistake that many companies do at this stage and think that our work is finished. Once we introduce the new men’s line, we expose ourselves to being imitated by our competitors. An important step during this stage is to carefully examine what our rivals are doing, in order to stay ahead of them.

During the initial market debut, it is crucial for us to differentiate ourselves from competitors. This will allow us to showcase that

we have superior quality products. Once our Lil' Devil's line is established and profitable, despite competitors entering the market, we will reach market maturity.

At this point, we will continue to develop innovative advertisements to make our product stand out from competitors. If we have successfully differentiated ourselves from the competition since the beginning, this task will not be difficult. During this time, we will also evaluate whether it is the right time to introduce new products to replace our original Lil' Devil's line. The final stage of the product life cycle is declining sales.

During the market adulthood stage, we will assess our products. We will either enhance our existing line or introduce a new and improved line with additional merchandise. It is important to be aware of the typical product life cycle and avoid being impacted by it. To prevent this, we may consider adopting a new strategy, such as reverse positioning (Moon).

Instead of focusing on numerous properties of new and improved merchandise, a company can differentiate itself by emphasizing a few quality properties. This approach prevents consumers from becoming overwhelmed. Marketing the merchandises included in the Lil’ Devil’s men’s line is part of this strategy.

Victoria’s Secret is paying close attention to the "Four P's". They have identified the goods and will link the typical characteristics of the Lil' Devil's line to the already strong Victoria’s Secret trade name. Distribution issues play a significant role in determining brand level strategy.

To establish a distinct brand identity, acquiring a significant market share may be crucial. It would not be advantageous for Victoria Secrets to produce a large quantity of inexpensive sleepwear. Certain companies opt for a

niche strategy, wherein they renounce most customers in order to focus on a smaller segment with less competition (e.g. women's underwear).

Victoria Secrets.) In order to maintain the brand image, it may be essential that retailers and other channel members offer specific services, including warranty repairs and providing customer information.

Transporting a diverse range of accessories is a challenging task that not all retailers are willing to undertake. However, insisting on these services can potentially decrease the market reach of the product. Distribution offers various opportunities for the seller, which are typically linked to other aspects of the marketing mix. For example, it incurs certain costs.

The house can enhance its objective by engaging in activities such as in-store demonstrations and providing special arrangements (for which the retailer is often compensated). Placement also presents an opportunity for promotion. Further opportunities include dual distribution, where products are sold both through traditional channels and online or at factory stores. Partnerships and cooperative promotions may also involve distribution. Firms generate profits from the overall sales of goods and services, occasionally.

Maximizing net income involves accepting smaller margins on certain products while focusing on others. Retailers who enter exclusive distribution agreements are more inclined to remain loyal. They will be motivated to promote the product to customers, resulting in larger sales volumes, increased inventory, diverse product choices, and additional services. Promotion and advertising can effectively target customers who have actively sought out specific products or services.

When a consumer searches for a specific term in a search engine, a "banner" or link to a company selling products in that area may be displayed. Print and television advertisements can also include the firm's website address,

attracting those who would like more information at a low cost.

Customer service:

The website may provide information for those who no longer have their manuals readily available.

For electronic merchandise, we provide updated drivers and software patches.

Market research:

Data can be collected relatively inexpensively on the Internet. However, the response rates are likely to be very unrepresentative. Recent research also indicates that getting consumers to read instructions is very difficult.

This is one of the reasons why the reliability of online information is often questioned. As we move forward in exploring the marketing strategy for Victoria's Secret's menswear line, we come across a crucial aspect: the price of the products. To put it simply.

The monetary value is the total amount charged for a specific item of value. The selling team must be aware of several factors when determining the price for an item of value, including competition, the introduction of new or revised products, and the consumer.

The pricing program for the new VS line of menswear will reflect the mindset of its customers by considering objective factors such as quality and affordability. Our plan for success is to understand and meet the needs of customers when they arise. By implementing a flexible-price policy, VS will be able to leverage the loyalty of existing customers and attract new ones with high-quality products at affordable prices. "A flexible-price policy involves offering the same products and quantities to different customers at different prices. This is made possible through the use of computer systems for implementing flexible pricing."

The determinations primarily revolve around which clients will receive a financial break. According to Perreault, A. and McCarthy, it is important for VS to take advantage

of its store credit card to attract customers even before the product is available in stores. Additionally, online shoppers provide another resource for obtaining information and discounts.

The clients that enjoy shopping in our salesrooms will be able to take advantage of seasonal and regional price reduction pricing when available. By being flexible with our pricing, VS is directing a message to consumers that all of the benefits that are presently being used for buying merchandise will continue with the introductory menswear line. "Value pricing means putting a just monetary value level for a selling mix that truly gives the target market superior customer value" Perreault & McCarthy (2002). The VS brand is one of the leading names in the undergarment industry. Having the ability to use value pricing with the new menswear line is a resource that can mean continued success in the undergarment sphere. Victoria's Secret has been very successful with their Angel's line for women. In compliment to that.

The new men's line, called Lil' Devil's, will have a contrasting pink design to Victoria's Secret. The Devil's line will feature bright ruddy packaging, targeting both men and women. Since many women buy clothing items for men, the publicity campaign will appeal to both genders. Full-page advertisements will be placed in magazines like Maxim and Sports Illustrated, as well as publications that appeal to women such as Cosmo and Marie Claire. Additionally, circulars will be included with existing customer statements, accompanied by a discount voucher to boost sales.

Billboards, as well as advertisements on city transit coaches and metro trains, will be used across the United States. Victoria's Secret is sponsoring a red NASCAR entry in

2006, which is highly popular and appeals to both men and women. We are currently searching for a driver who can embody the perfect image for our brand, similar to the way Michael Jordan has promoted Hanes. Once we find that individual, they will be signed on to promote our line.

There will be an extended telecasting blitz to present the new interpreter. The Lil’ Devil’s line will be heavily promoted within the Victoria’s Secrets shops, with devilish lighting and music in that subdivision of the shop. Instead of the traditional pink and white striped Victoria’s bags, the Lil’ Devil’s purchases will be wrapped in ruddy tissue and bagged in ruddy and white bags with a little blink Satan in the lower corner. The Victoria’s Secret web site will have a special menswear subdivision promoting the Lil’ Devil’s line soon. The launch for our new line is planned for mid-November to take advantage of holiday shopping. Each holiday purchase made in Victoria’s Secrets shops will come with a little Sn of breath batchs in Lil’ Devil’s packaging.

The batches will be Satans dressed as Santa Claus. In today's highly competitive market, it is essential to have a strategy that consistently outperforms all other competition in offering our products or services. However, it is equally important to have a well-defined methodology for implementing the strategy on a daily basis. Having a strategy is meaningless if we don't have the resources or expertise to execute it. When developing a marketing strategy, many factors need to be considered.

Each scheme must consider different factors individually and it is not logical to place every important factor at a generic level. However, man