Victoria’s Secret

Introduction

Victoria ‘s Secret, presently a family name is a retail trade name of intimate apparel and beauty merchandises which is owned and run by the Limited Brands Company. On mean Victoria ‘s Secret accumulates more than $ 4 Billion in gross revenues a twelvemonth. With over 1000 retail shops around the United States it contributes 42 % of corporate net incomes of Limited Brand. Victoria ‘s Secret promotes their merchandises through extended publicities and advertisement such as catalogues ( Appendix 4 ) , on-line web site ( Appendix 1 ) and Victoria ‘s Secret Direct with gross revenues of about $ 870 Million.

Victoria ‘s Secret was first tally and established by Roy Raymond in the San Francisco country during the 1970 ‘s. Raymond had a vision to transform underwear into manner, although selling underclothes was n’t the exclusive mission, its mission was to turn an ordinary by and large standard piece of underwear and turn it into manner.

Their merchandises stood out from the white cotton pieces which section shops produced and displayed with more accent on attractive colourss and design along with giving it a sense of temptingness. Victoria ‘s Secret enjoys about a monopoly place on the retail of intimate dress in the US.

The promotional runs will be looked into closely into this study in covering with different markets. When covering with different markets one should besides understand that every market is n’t the same. There are a few factors that differ from state to state and in bend market to market. We will be looking at France normally known as the manner capital of the World, India a human dynamo in Asia and a tendency compositor from those in South Asia, United Sates of America that along with France are dub as Fashion Icons. The Middle East which regulations and ordinance are from the other terminal of the spectrum and would be closely analyzed in order to get the better of such barriers and hinders.

In this study we will be looking at the obvious cultural factors along with a few other factors that would offer a company like Victoria ‘s Secret promising penetration every bit good as a sentinel at the jobs they might confront.

The United States of America

We look at the birth topographic point of Victoria Secret where the trade name every bit good as the company has thrived to keep a kind of like monopoly position in the industry. They province that advertisement and publicity is one of the chief grounds as to why they are where they are. In an industry where the physical outside is about everything, the concern that sells an image and lifestyle advertisement is critical. Victoria ‘s Secret spends $ 66 million each twelvemonth on advertisement, basically specifying beauty and packaging it for consumers. Thousands of newspaper ads, catalogues, and televised manner ( Appendix 5 ) shows convince adult females that purchasing Victoria ‘s Secret merchandises will hike their assurance and heighten their entreaty.

Equally long as they don Victoria ‘s Secret intimate apparel, adult females can be transformed like Cinderella from the ties of domestic life to one of the angels seen on the paseo. Furthermore, Victoria ‘s Secret has managed to make a seeable topographic point for itself in dad civilization. “A 1998 study rated it the state ‘s ninth-most recognized trade name and the company ‘s name has grown to be synonymous with romantic and fashionable lingerie” ( McAfee, 2004 ) . It has established credibleness and repute to its sexy, sophisticated trade name name. They have achieved this through several promotional and advertisement methods that will be talked about in this study.

Culture in America

The adult females ‘s dress industry entreaties to an tremendous patronage. The persons who stem from this market are qualified through understanding assorted socio-cultural factors. These factors, decently observed, assistance in detailing who the clients are, what factors make the client, and where future clients exist.

America is composed of people from states all over the universe. A bulk of people come from Europe, Asia and Latin America, but in-migration is non limited to merely these parts. Further American studies show that 34 per centum of Americans are corpulent. For dressing retail merchants, this information reveals that clients are traveling to hold immensely different cultural organic structure types of all different fittingness degrees.

Dressing gross revenues have been on a phenomenal addition in America in peculiarly the Lingerie industry amidst the Global Financial Crisis, making a barrage of media beging work forces and adult females to acquire fit, acquire healthy, and look sexy. The Victoria ‘s Secret Fashion Show is a centrepiece for the trade name ‘s elaborately designed and elegantly working advertisement machine. With this event, Victoria ‘s Secret reaches an audience of over 1 billion people, including intelligence coverage. Televised yearly, the Victoria ‘s Secret Fashion Show Extravaganza has an sole contract with countrywide airing station CBS. Newspaper and magazine ads are effectual for making a broad audience ( McAfee, 2004 ) . In peculiar, Victoria ‘s Secret targets magazines it expects its consumer base to read, which include Cosmopolitan with a first one-fourth circulation in 2009 of 1,616,908 followed by People Magazine which we could presume that the people of America find more importance when it comes to their expressions and lifestyle than the political relations and universe personal businesss. Victoria ‘s Secret catalogues are more fecund than many intelligence magazines with over 390 million transcripts of the Victoria ‘s Secret catalogue are distributed in the U.S. entirely.

Average Age

The American population is composed of work forces and adult females ( 1:1 ) with 15-64 old ages: 67 % ( male 102,665,043/female 103,129,321 ) . The average age for American adult females is 38 with birthrate rates in at their all clip lowest. This indicates the demand to capture and keep patronage through quality merchandises. They market our trade name to modern and sophisticated adult females who value the importance of purchasing unmentionables that have a positive emotional consequence on themselves. We envision “Victoria” as a sophisticated English adult female who is successful, confident and really elegant. She is good traveled, glamourous and enjoys luxury in life. Womans like Victoria exemplify the adult females we imagine have oning our trade name ( McAfee, 2004 ) . We see Victoria ‘s Secret as Victoria ‘s intimate apparel cupboard, leting our patronage to bask her sense of manner and store her cupboard. We seek to aim adult females who are fashion-conscious and enjoy luxuries. Our mark market in the United States consists of these like-minded adult females from the ages 15- 34. The high Individualism ( IDV ) ranking for the United States indicates a society with a more individualistic attitude and comparatively loose bonds with others ( Hofstede, 2009 ) . They hold dear the impression of individuality and the importance of self-expression. This creates trouble for organisations trying to derive big market portion because of the differing ideals of people and the resulting inflow of trade name and shop handiness and service such as shop insides are besides consistent with the Victoria ‘s Secret image. Wallpaper chromaticities of soft pink promote a soft, feminine environment. Victoria ‘s Secret shops are meant to arouse images and category of a Victorian boudoir, therefore the name ( McAfee, 2004 ) . Not surprisingly, female shoppers are more comfy openly walking into a Victoria ‘s Secret shop and walking out with one of Victoria ‘s pink striped bags. The presence of gentleman parking at a scattering of shops confirms that Victoria ‘s Secret markets to high manner and quality.

The importance of individuality and equality make the market place really sensitive to new merchandises. Coupled with a short-run orientation which is why Victoria ‘s Secret demand to drive changeless development to stay competitory in a market place that is undergoing continual alteration ( Hofstede, 2009 ) . They do this through advertisement being the advanced participant and the tendency compositor in the industry. Occasionally, Victoria ‘s Secret besides puts on particular events to rise the promotion environing the release of a new line of intimate apparel. Victoria ‘s Secret holds one of the most of import input supplies in the intimate apparel industry: supermodels. Victoria ‘s Secret theoretical accounts are synonymous with beauty. Ads capitalise on this association and cement in consumer heads that Victoria ‘s Secret represent beauty and category.

France

The Gallic intimate apparel industry is the largest in the universe and is good known for exceeding quality and manner. In order to vie with the higher priced luxury lines of intimate apparel that is offered in France, including the Italian La Perla, Victoria ‘s Secret are presenting a new line for Gallic adult females that will be merely promoted in the Gallic shops, catalogs and the Gallic Victoria ‘s Secret Direct ( Victoria ‘s Secret – France, 2003 ) .

The Gallic intimate apparel market can be segmented by gender, purchase juncture, age, and consumer emotion. The huge bulk of consumers who purchase intimate apparels are adult females. Although adult females besides purchase upon the occurrence of these types of events, they frequently purchase lingerie out of necessity. There are about 19,583,850 adult females between the ages of 15-64 who comprise over 91 % of the female users of intimate apparel. Although misss between the ages of 15-24 comprise 21 % of the market ‘s population, they are responsible for over 26 % of the intimate apparel purchases doing them the largest consumer of intimate apparel merchandises ( Appendix 2 ) . These misss nevertheless, purchase less expensive intimate apparel than any other group ( Victoria ‘s Secret – France, 2003 ) .

The huge bulk of consumers who purchase intimate apparels are adult females ; nevertheless, work forces besides purchase lingerie. Most purchases by male consumers can be characterized by events such as an anniversary, birthday, or particular juncture. Although adult females besides purchase upon the occurrence of these types of events, they about ever buy lingerie out of necessity.

They are aiming this age and psychographic section in France. Like the selling program in the U.S.A. , they will be marketing their intimate apparel to carry through the consumer ‘s demands for particular occasions every bit good as their day-to-day demands. They besides have a more diverse merchandise offering than our major competition with the exclusion of Sara Lee who distributes more than one trade name. They, nevertheless, have more assortment within our trade name than any of Sara Lee ‘s trade names.

They plan on distinguishing ourselves from our rivals by stressing our accessible luxury. Their merchandises will be available to our patronages through free standing shops in France every bit good as through a mail order catalog and an e-commerce web site, known as Victoria ‘s Secret Direct. Each of these distribution channels is easy accessible to adult females in our mark market and will exudate the type of luxury that is expected of our trade name. Victoria ‘s Secret ‘s selling scheme is making clients anyway, anyplace and anytime-and offering them the same high-quality ware. Across all channels – catalog, shops and Internet, the same merchandises are launched at the same clip in precisely the same manner with the same quality and same monetary value. Until they gain market experience, all three French Victoria ‘s Secret shops will be located in northern France.

The downside to this would be the ad valorem ( revenue enhancement ) and VAT revenue enhancements that will be added to the imported merchandises ( Victoria ‘s Secret – France, 2003 ) ( McAfee, 2004 ) . Our ocular stigmatization consists of our signature pink, every bit good as black and pick. One of our major rivals, BodyOne has free standing white wood paneled, brushed aluminium accented shops with a similar colour strategy of pink and navy blue. They will hold to distinguish ourselves in the Gallic market topographic point to guarantee that our trade name does non acquire confused with theirs. In France they intend to stress the black and cream more than pink in our bing ocular stigmatization and utilizing the softer lighting strategy in our white wood paneled shops to our advantage. Pink, our signature colour, will be used subtly in certain countries and tinted illuming in focal wall shows. Photography used in the shop ‘s ocular signage is closely tied with the manner that is presented in the catalog and online. This picture taking emphasizes the supermodels assertiveness and creates a shopping experience representative of the Victoria ‘s Secret life style. They besides intend to include siting countries within our shop that can be utilized by our patronages or their comrades. Possibly the most aggressive manner that they can aim our market is through our mail-order catalog that offers a immense ocular impact ( Victoria ‘s Secret – France, 2003 ) . They can woo our patronages through usage of world-class supermodels in alien locations such as the beaches of the Bahamas and the Gallic Riviera. The Victoria ‘s Secret catalog in France will incorporate all the same exposure and merchandises as the catalogs in America except the merchandise descriptions will be written in French.

India

Lingerie is heading towards a new phase in the growing rhythm of the industry, the one time traditional and conservative nature of the Indian society has kept the industry more of a secret that anything else. With western influences coming in and the perceptual experience altering due to intense advertisement with a high grade of advertisement is intended both to entice and to educate consumers about the manner and public-service corporation nature of innerwear has played a cardinal function in altering the mentality of industry allowing people know that intimate apparel can be stylish alternatively off pigeonholing it being raunchy.

Majority of the advertisement is being done through Television and Print Media. Victoria ‘s Secret uses Television channels such as Channel V, MTV and Fashion TV all with their major mark market between 16-35. These Stationss reach the more westernized and flush sections of Indian society ( Kuruvilla, 2005 ) .

Magazines are besides a immense advertisement tool that Victoria ‘ Secret capitalizes on with such manner magazines like Femina and Women ‘s Era are the most popular print mediums used for advertisement. Once once more these premium category of magazines target the more flush of the Indian consumers. The trade names besides use “Bollywood” ( Indian Film Industry ) as a agency of pulling and retaining consumers. Film actresses are used both in electronic and print media as trade name embassadors.

The theoretical account used by Victoria ‘s Secret USA is being used with Fashion Shows exhibiting the line of work and exposing the tendency in with India and their civilization is heading towards ( Textile, 2004 )

Promotions offered by the innerwear industry are limited to seasonal gross revenues. The consumer purchasing wonts and disbursement has evolved over the last decennary. The urban population has become manner witting and is invariably seeking to be abreast of the tendencies. The consumers look for a western image with an Indian individuality. The middleclass is acute on demoing off its wealth and richness and trade names have managed to leverage this to their advantage.

The consumer purchasing wonts are besides dictated by festivals and cultural events, which leads to seasonal fluctuations in gross revenues ( Appendix 3 ) .

Saudi Arabia

The term advertisement and everything it stand for and attempts to carry through by and large do n’t travel manus in manus with the working and the regulations and ordinances of the Middle East. What comes into being is the industry stereotypes, cultural limitations, unvarying originative designs, happening the right people, and the deficiency of dependable market research. This is non the instance, nevertheless, as the part moves towards 2009 and a more robust and turning advertisement industry that is continually repressing the ever-present skewed stereotypes of the part ( Jaffrey, 2009 ) .

The market have opened up to the West and the West tendencies and manner have changed the one time stiff stand point of the Middle Eastern and particularly Saudi Arabian civilization and with more people in the part encompassing Western civilization and hence promoting advertizers to prove boundaries with an increasing assortment of meeting media vehicles, particularly the Internet, Mobile and ambient selling.

In footings of originative betterment, a budding immature audience that is flush and media-savvy is coercing advertizers to be more originative. Fresh alumnuss returning from abroad are conveying back with them a overplus of originative penetration and thoughts that are rapidly being adopted into the markets. Despite this positive mentality on future creativeness, about all In-between Eastern markets are expected to confront a famine in the advertisement employment sectors in 2009 ( Jaffrey, 2009 ) .

The evident deficiency of transparence and answerability in all the markets has cast a shadow of uncertainty on the market research section of the industry. This has led to the issue of accurately sectioning markets and ciphering the returns on marketing spend for efficient allotment of resources.

It ‘s an sarcasm of the land ‘s rigorous segregation of the sexes. Merely work forces are employed as gross revenues staff to maintain adult females from holding to cover with male clients or work around work forces.

But in lingerie shops, that means work forces are speaking to adult females about bandeaus or lashs, looking them up and down to find their cup sizes, even rubbing the underwear to demo how discolorations can be washed out. The consequence is mortifying for everyone involved – shoppers, salesmen, even the male relations who accompany the adult females ( Associated Press, 2009 ) .

This is a point that Victoria ‘s Secret has capitalized on and promoted the fact that the merchandises can be bought through their web site where the clients have their privateness to make purchase what they want with all the inside informations given there about the merchandise and they could ask about anything via electronic mail to the client service reference or telephone figure.

Mentions

  1. Associated Press. ( 2009, March 25th ) . Saudi adult females launch lingerie store boycott. Retrieved December 5th, 2009, from hypertext transfer protocol: //www.msnbc.msn.com/id/29884856
  2. Hofstede, G. ( 2009 ) . Cultural Dimensions. Retrieved December 5th, 2009, from itim International: hypertext transfer protocol: //www.geert-hofstede.com/hofstede_united_states.shtml
  3. Jaffrey, I. ( 2009 ) . Advertising Trends in the Middle East – A Look Towards 2009. Retrieved December 5th, 2009, from WorldWidePartners INC: hypertext transfer protocol: //www.worldwidepartners.com/business_insights/advertising-trends-middle-east-a-look-towards-2009
  4. Kuruvilla, A. ( 2005, May 17th ) . How MTV made it large in India. Retrieved Dec 5th, 2009, from rediff.com: hypertext transfer protocol: //www.rediff.com/money/2005/may/17spec.htm
  5. McAfee, P. ( 2004 ) . The Silk Strategy of Victoria ‘s Secret.
  6. Fabric, B. ( 2004 ) . Inner Secrets – The Lingerie Show. Retrieved Dec 5th, 2009, from hypertext transfer protocol: //www.bharattextile.com/features/innersecrets/
  7. Victoria ‘s Secret – France. ( 2003 ) . Victoria ‘s Secret – France.

Victoria ‘s Secret web site

Appendix 2

The undermentioned graph demonstrates the per centum of intimate apparel purchases by age groups:

Beginning: “La intimate apparel femme 2005” carried out by IFM

Appendix 3

The above graph shows that the gross revenues of innerwear extremums between April-May and September-October. The extremums are driven by festivals like Divali and Id every bit good as traditional matrimony seasons. The gross revenues hit its lowest points during monsoon periods.

Appendix 4

Victoria ‘s Secret Online Catalogue

Appendix 5