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Vs Brand Plan

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Brand Plan for Victoria Secret

Brand Plan for Victoria Secret

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Vs Brand Plan Vs Brand Plan Presentation Transcript

  • Victoria’s Secret Brand Plan By Kevin McEnery
  • Brand Heritage
    • Brand Heritage
      • Ronald Raymond had an idea to make lingerie shopping a more “personalized” experience. He came up with this concept after having a bad lingerie shopping experience in a dept. store
      • Raymond’s store in Stanford Shopping Mall had wood-paneled walls, Victorian details and helpful sales staff. He stressed personalization above all else.
      • The original “Victoria” was imagined to be a sophisticated, elegant, and well-traveled English woman who preferred luxurious items.
      • VS still uses Raymond’s concept of personalization and describes the brand as sophisticated and elegant.
  • Brand Timeline
    • Historical Brand Landmarks
      • In 1977 company was started by Ronald Raymond
      • In 1982 the company was acquired Limited.
      • In 2004, VS launched Pink brand
      • In 2007, Limited Brands sold 3/4 of the Limited clothing chain to Sun Capital Partners to focus and boost sales growth on Victoria's Secret lingerie stores.
  • VS Brand Target
    • VS targets females between the ages of 25 and 40
    • Pink was added in 2004 to hit the 18-24 age demographic and widen this range – Establishes brand loyalty
    • VS consumers:
      • Are typically fashion conscious and place value on buying underwear and lingerie that provides them with a positive emotional effects.
      • Value luxurious goods, they’re willing to pay a premium for quality
      • Desire to feel sexy, sophisticated, and glamorous
  • Brand as Product
    • Most people think bras when they think of VS however the product line is pretty diversified.
      • Offers bras, panties, sleepwear, fragrances, swimsuits, clothing, and shoes
    • Offer a variety of colors, styles, collections and sizes
    • VS uses the most up to date bra technology
      • BioFit: New bra that has the feel as if it was custom fit just for the consumer
  • Brand as Product (cont’d)
    • Customer shopping experience
      • Unique and exciting experience in retail stores.
      • Convenience through variety of purchase options
        • Website, Catalogue, 1000+ Retail Stores
    • Promotions and discounts with VS Credit Card
      • Offers value and promotions to encourage repeat purchases = Brand Loyalty
  • Brand as Symbol
    • VS advertises its brand through the use of supermodels and sponsoring an annual fashion show.
    • The VS Angels are the most visible models and company spokeswomen in the world.
      • Former Angels have included Tyra Banks and Heidi Klum
  • Brand as Organization
      • Four core values
        • The customer rules!: Fulfilling customer needs
        • Passion leads to success: Emotional and intellectual commitment from employees
        • Inclusion makes us stronger: Valuing and cherishing diversity
        • It matters how we play the game: Doing the right thing all the time. Helping the community and being socially responsible.
  • Brand Personality
    • Sexy, glamorous, and sophisticated
      • Conveyed through apparel design and use of supermodels
    • Innovative & Technologically Advanced
      • Use of new technology to create a better fitting bras eg.BioFit
    • Convenient and Personalized
      • Offering multiple purchase options and helpful store employees that can offer customers a great fitting bra.
  • Brand Value Proposition
    • Functional benefits : Offer a basic necessity – underwear. Also a wide assortment of intimate apparel
    • Emotional benefits : The feeling of being sexy and glamorous
    • Self expressive benefits: The customer can express themselves like a supermodel!
  • Competitor Analysis – Brand Differentiation
    • Intense focus on intimate apparel
    • Innovative through using latest bra technologies
    • Offer a brand extension to serve younger demographic
    • Use of supermodels and sponsorship of VS annual fashion show
  • Consumer Touch Points
    • Website: www.victoriassecret.com
    • Catalogue: Consumers can sign up in stores or online
    • Retail Stores: VS has over 1000 retail stores
    • Store Employees: Store employees are taught to provide exceptional customer service and encourage the use of store credit cards
    • Fashion Shows: VS sponsors an annual fashion show. VS Angels are widely known and recognized.
    • Print Advertising: The firm places print advertisements in Cosmopolitan and Vogue.
  • Equity – Brand Asset Valuation
    • Differentiation: VS differentiates itself through the use of supermodels, sponsoring fashion shows, focusing on intimate apparel, encouraging brand loyalty, and using technology to create better fitting bras.
    • Relevance: VS is relevant to fashionable females aged 18 to 40 who prefer luxurious living.
    • Knowledge: The firm is well known by consumers for its catalogue, famous supermodels, and personalized retail shopping experience. VS has gained additional popularity and presence to the public through the development of the Pink brand.
    • Esteem: Highly regarded by the public as a luxurious that is fashionable.
  • Any Questions?