Victoria secrets prominence in the fashion world, has been regarded as a womans fantasy brand, providing as the yardstick of what is palatable for most of the women nowadays.
Victorias Secrets collections consist of barely-there items that drive up our investments and improve our beauty. From lacy, racy little quantities that will possess the men drooling to cute, womanly mixtures that are comfortable and flirty, Victoria's Technique has something for each and every kind of person and personal choice. The Victoria's Top secret label motivates women showing off their bodies. They do that by designing amazing pieces that show off that which we like about our anatomies and hide what we should don't.
What would we do with out a label like this?
This is my contribution to introduce a women's desire brand in India where folks are significantly considering good dressing, Victoria makes a difference.
Ronald Raymond had an idea to make lingerie shopping a far more "personalized" experience. He came up with this idea after creating a bad lingerie shopping experience in a dept. store
Raymond's store in Stanford RETAIL CENTER had wood-paneled surfaces, Victorian details and helpful sales personnel. He pressured personalization most of all.
The original "Victoria" was dreamed to be a sophisticated, chic, and well-traveled British girl who preferred luxurious items.
VS still uses Raymond's concept of personalization and explains the brand as superior and beautiful.
The customer rules!: Fulfilling customer needs.
Passion leads to success: Emotional and intellectual dedication from worker.
Inclusion makes us stronger: Valuing and cherishing diversity.
It issues how exactly we play the overall game: Doing the right thing on a regular basis. Helping the city and being socially sensible.
VS targets females between your ages of 25 and 40
Pink was added in 2004 to hit the 18-24 era demographic and widen this range - Establishes brand loyalty
o Are usually fashion mindful and place value on buying underwear and lingerie that delivers them with a confident emotional results.
o Value luxurious goods, they're willing to pay a premium for quality
o Need to feel sexy, advanced, and glamorous.
o Men who seek to reward in their life with products on special occasions. (wives, girlfriends, fiancs. . etc)
o Customer have to have a certain purchasing power to buy products Second segment aim for: Men with relatively high interpersonal status who wish to offer quality and expensive lingerie to their wives, girlfriends, fiancs. . . etc
VICTORIA Top secret PRODUCTLINE
Most people think bras when they think of VS nevertheless the product line is pretty varied.
o Offers bras, panties, sleepwear, fragrances, swimsuits, clothing, and shoes
Offer a variety of colors, styles, choices and sizes VS uses the most current bra technology
o BioFit: New bra that gets the feel as if it was custom fit just for the consumer Customer shopping experience
o Unique and interesting experience in shops.
o Convenience through variety of purchase options
Website, Catalogue, 1000+ Retail Stores Promotions and discounts with VS Credit Card
o Offers value and marketing promotions to encourage do it again buys = Brand Commitment.
2. INTEND OF MARKETING AUDIT :
The Following Audit is conducted for Victoria Secrets in India.
Efficient benefits: Offer a basic requirement - Undergarments.
Emotional benefits: The sensation of being naughty and glamorous Personal expressive benefits: The client can pamper themselves like a Princess who adores Luxury.
With these multiple benefits, I get to focus on our complete customer base-from the 20-year-old university student who adores our Red series, to the 30-year-old mother who buys VS lingerie online, to every women who looks for Victoria's Secret to check her outgoing yet advanced personality. Bringing this Goal Brand to India is a wish come true for each and every Women who cherishes Luxury. Thus, I suggest that India Learns Vcitoria's Magic formula. To be able to propose the same I would like to throw light on the Internal Factors that play a significant role in the Brand Management.
3 INTERNAL AUDIT :
In order to propose the same I would like to toss light on the Internal Factors that play a major role in the Brand Management.
ѕ Global leader in Lingerie.
ѕ Strong brand recognition
ѕ Victoria's Magic formula same product range throughout the world.
ѕ Fast adaptation to emergent fads, marketplaces, and environments
ѕ Global Shopping experience.
ѕ Excellent Customer support.
ѕ Effective computerized system/online buying.
ѕ Uncertainty of consumer approval of the Company's products
ѕ Reliance on international sources for development.
ѕ Competition from the already existing secure brands like Etam, Triumph.
ѕ Not associated with any Indian face for marketing.
ѕ Same product range across the globe.
ѕ Basic e-commerce sales were up 25% in '09 2009 with spending at $35. 9B, which indicates that shoppers are prepared to buy things online
ѕ Increase in time-conscious type of online consumers because of occupied lifestyles
ѕ Increasing Brand consciousness & brand mindful people.
ѕ Increase Internet advertising and sales.
ѕ Financially secure working women.
ѕ Can penetrate deeper in the bustiers market & give India its fantasy brand.
ѕ Industry is dangerous because in order to get competitive advantage you may have to use gambles (prediction of future fads)
ѕ Approval from the Indian market.
ѕ Cutural difference in Advertisements etc.
ѕ Political functions interference.
ѕ Super fast changes in customer tastes.
4. Alternative AUDIT
Political : Change in the execution of regulations with advantages of new authorities. Eg no overseas collaborations, or no overseas goods and products coming in the Indian market.
Economical : Changes due to Downturn.
Social : Conventional women & society.
Eg : Bold adverts of Victoria Secret.
Technological : Technology and infrastructure of India not in par with the international benchmarks.
Environmental: Usage of paper for Victoria hidden knowledge catalogues.
Legal : Difference in marketing strategies, trading insurance policy, manufacturing standards, and process, retailing, etc
Porters 5 Causes :
1. Bargaining vitality of Buyer
Customer is our buyer & Victoria solution would maintain the Customer centric methodology.
2. Bargaining ability of Supplier
Victoria secret preserves High Quality requirements. Thus very few can cater to the criteria.
Thus. Suppliers would have an upper palm.
3. Industrial Competition
Victoria Technique has major competition hazard from already established Bustiers brands like Etam
Marks & Spencer
All these are International brands already founded in the Indian market the USP for Victoria magic formula is the strong brand acknowledgement & wide product range.
4. Threat of New Entry
Victoria Solution has a significant danger from new Underwear entries like
United Colorings of Benetton
The good thing about Victoria technique in India would be an array of luxury
clothing & emphasis on Customer service & retention.
5. Threat of Substitution Products
Lingerie is the most important aspect of your women's clothing collection. It's a basic necessity for every Women. Thus it has no threat of Alternative Product.
5. MARKETING STRATEGIES :
MARKETING MIX - 7'Ps for the release of Victoria Secret
Victoria Top secret in India will be a the best 6.
Victoria's Technique would operate with the five sub-brands -Body by Victoria : Comfortable, Everyday wear Very Hot : Sexy, Provocative, Extreme, Sophisticated, and Daring (Impressive and fashion right)
Sexy Little Things : Cute, naughty, fun, and playful.
Angels : A reflection of all things feminine in tender colors and sensitive laces (Elegant, charming, feminine )
PINK : "Red is life, life is green. "
Comfortable, Fun, Cute, Flirty & Hip!!
Soft & No clothing collection rules.
Panties : Thongs, Boxers, Boyshorts, Bikini's, V string.
Body by Victoria : $ 20 - $ 49.
Very Sexy : $ 30 - $ 58
Sexy Little Things : $ 12 - $ 50
Angels : $ 38 - $ 50
PINK : $ 20 - $ 32
Panties : $5 -$ 20
All these prices are acc to the Global standards of Costing and cannot be customized
But the products are affordability & are globally renowned because of its quality.
They aim for every women who has the desire for Luxury.
Victoria Secrets should be ideally situated in New Delhi.
DSL Emporio - Vasant kunj South Delhi- Rent 10 lakhs per mth / 1000
Oberio - Centre delhi - Rs7 lakhs per mth
Having Stand alone store. Thus, preserving its personality & uniqueness.
6. Expansion STRATEGIES :
Considering the target Victoria Technique has it should definitely be launched in Delhi.
1. Vicoria Secret should be introducing itself in the Indian Market where INDIA Learns Victoria's Hidden knowledge.
2. The main aim for of Victoria Top secret being Women looking for Luxury.
3. New technology of affluent and fashion- mindful Indians present an incredible chance for global luxury brands to type in the marketplace. In India, the most coveted destinations for global stores is the capital city of New Delhi.
4. PINK by Victoria Top secret the range for younger get older - again Delhi is known for being Fashion capital for India, thus most population is to check out these movements of Style with Affordibility.
5. Victoria Key targets the market & consumers having the the purchasing capacity to buy luxury - Delhi thus appropriate in this requirements. .
6. Delhi is a very brand conscious status thus Victoria Secret would top the Wishlist. Hence Delhi is the destination for Victoria Top secret, being truly a potential market.
ONLINE MARKETING STRATEGY FOR VICTORIA Top secret USING ANSOFF'S GRID
* India is a potential market with an evergrowing self-employed women & brand recognition has already crept in India and is already growing at a fantastic rate.
* Quantity of International brands have already made their existence experienced in the Indian market and have created their own place but Victoria Top secret would have an advantage because of its brand personality.
* Brand awareness is increasing amongst Women.
* Victoria Top secret is still not launched in every parts of the world and hence it has to launch itself in several parts it should use Market Development Strategy. . for Victoria Secret starting in Delhi being truly a new market with the same products
* Victoria Key in India would concentrate on Corset market and focus on women throughout India but it according to its credit Victoria Magic formula should also establish their beauty products in India. Thus once they settle in the Indian market I would highly suggest Product Development for Victoria Solution over time.
7. EXECUTION MECHANISM
EXECUTION OF PROPOSAL
* I highly suggest firstly recognition through offers through Superstar wives like Gauri Khan. As Victoria Key has already been known as a Corset Brand on the globe. Thus it's the Brand Reputation that needs to be emphasized.
* Secondly Delhi is also caters to other brands catering of Corset lingerie which have already created a direct effect and are steady[Etam, Triumph ]Their products are costed cheaper thus being less expensive. Thus VS must lay down more stress on its quality and the merchandise that happen to be same globally, the shopping experience and customer service.
* A Standalone store around 2000 sq feet to show all products using its entire range. thus providing a good service and shopping experience which being its quest. considering all requirements DSL Emporio shopping center which is enclosure the world renowned fashion stores with adequate auto parking place and perfect International ambience will be a perfect place to set up theVictoria Secret showroom.
* Being a Women's brand targeting the women, it is best located in DSL Emporio as all the ladies coming there want for luxury thus providing us the right type of Customer databes for further reference.
* Targeting Women would best be achieved by the thought of promoting the Concept of " Design your own Nighties" by using experts. For those who cannot make it to the store can do it online.
* Victoria Technique should produce Victoria Hidden knowledge services for the entire grooming and the service experience for the consumer on which the business harps[Victoria salon]. Eg : Introducing Indian women to the wonder therapies used by Victoria Key. Thus providing a complete package deal at one place and delevoping strategies for launching the Beauty products of Victoria solution.
* Victoria Top secret is assosciated with the interpersonal causes so should also create awareness about any of it locally to produce understanding about its participation and brand.
Victoria key wouldn't normally only cater to the Indian market but also value all the advice from their new customers by launching a niche site called http://www. victoriassecretreviews. com/india
This would get Victoria secret the advantage & emphasise on customer retention. As a World renowned brand Victoria top secret would definitely have advantage for Quality. But an addition to the same Victoria solution would also add for any devise which would help women chose their nighties after seeing your system type.
Victoria magic formula also focus on Fashion with a Conscience in doing so donating a share of their sales to the reason for Breast Cancer tumor & Natural Calmities. As Women almost everywhere own an innate sense of solidarity As a part of my research I've also managed to collect a few reactions of Indians to the Launch of Victoria Solution in India. ( PFA a Video tutorial for the same. )
These are my recommendations for introducing Victoria Secrets in Delhi, the last mentioned being a new market.
Company :Victoria Solution lingerie has attained a reputation of being sensual and gorgeous which has empowered today's women to flaunt their feminity with lan. Thus, suiting every preference and need.
Delhi : May be the Fashion capital which is normal, fashionable and modern. Thus Delhi has too much to offer. With its ever changing trends, new designs and styles discovering every fall season and every spring, this is a appealing place to be in. This place is actually a shopper's paradise.
A Blend of both these provides women an excellent opportunity to pamper yourself & enjoy your feminity to the hilt.
WWW. VICTORIASECRET. COM
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