Victoria’s secret is one of the most popular and exclusive brand of lingerie, fragrances and beauty products in United States, Canada and other countries. Leslie Wexner the founder of Victoria Secret started this brand in 1982 by purchasing a small chain of lingerie products in San Francisco. He made the merchandize to look good and the products were easy to buy and made the environment look relaxed and attractive (Durbin 2002).
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Current Marketing Strategy
Victoria’s Secret has implemented a 360 degree marketing strategy. 360 degree is basically creating an exclusive brand philosophy. It is more engaged into customer based media strategy (Gupta 2009). As the company is managing the retail outlets, the web stores and catalogues at the same time and fulfilling the customer’s needs at their best level.
Leslie Wexner has made Victoria’s secret the top class brand throughout all channels, catalogues, stores and internet he always said “The same products are launched at the same time, in exactly the same way, with the same quality, and same positioning” (Durbin 2002). From the very first day the company has tried to have a full control on their distribution point.
In addition to that Victoria’s Secret has divided their consumers from demographic point of view and they provide specific messages throughout the campaign with the help of emails. As mentioned by Weil “Our goal is to provide the same message to the same customer at the same time, For instance, a customer whose purchase history indicated a preference for swimwear would receive an e-mail promoting a swimsuit sale and would get the most recent swimwear catalogue” (Durbin 2002).
Victoria secret is basically targeting girls aged 13-29 years and women aged 30-50 years. Due to wide range of products whenever we think of Victoria’s secret the target market always vary with the age. As if the lady is a mother or grandmother of heavy weight she would obliviously go for the body products and fragrances. Where as a young girl or a mother who is in good shape will prefer Victoria’s secrets lingerie and swimwear. And their new brand Victoria’s Pink is basically targeting the young adults of high school and college.
Victoria’s secret core products are women’s lingerie, sleep wear, swim wear, women’s clothing, women’s shoes, beauty products and fragrances (Victoria’s Secret 2010). Its expected products include a wide range of men’s undergarments.
Pricing plays a significant role in the market mix as it basically helps to generate revenues. Victoria’s Secret is an inspirational brand and is known for its premium pricing strategy.
Its distribution system includes Victoria secrets apparel outlets which are more than 1000 worldwide, and then they are selling the products through Victoria’s secret catalogues and through internet. They are also using the multi channel synergy (Durbin 2002).
One of Victoria’s secret strength is its highly flourished advertising campaign. They are targeting their customers through really bold and attractive advertisements, through printed ads in magazines and newspapers, its targeted magazines are Allure, In Style, Glamour and Cosmopolitan.
They are also doing marketing through television and internet, their catalogues which are highly creative and through yearly fashion shows (Chang 2004). Victoria’s secret has the utmost brand loyalty providing prestige products to their customers who are mainly influenced by its style (Durbin 2002). Victoria’s Secret products are always symbolizing fantasy, fun, passion and love all in one. The consumers really fall in love with its products. And that is the best message they are conveying to their consumers.
List of References
Chang, C. C., 2004. The Silky Strategy of Victoria’s Secret. Case Study. Burbank CA: R. Preseton McAfee.
Durbin, T., 2002. Victoria’s Secret. Case study. Dartmouth: Tuck School of Business at Dartmouth.
Gupta, S. D., 2009. 360 degree Mareting. Web.
Victoria’s Secret, 2010. Victoria’s Secret. Web.