10 STEPMarketing Plan for(Victoria’s Secret Mists) Juancho Roa Pascual Product Photo here October 2011 1
Steps 1 to 5Women who loves to smellsexy1. VS targets women from ages 18-282. Women want to smell fresh and sexy3. Beauty products commonly found in the Philippines such as The Body Shop and Ever Bilena4. Gap is other brands are more known to be readily available in the market and providing savings.5. Market size is 7.6Billion pesos(2010). Victoria’s Secret niche is 228 Million.
Steps 6 to 10Women rely on fragrances toboost their sex appeal6. Victoria’s Secret mists are refreshing sprays which also leaves a sensual scent7. Is priced 30% less than The Body Shop mists and 100% more expensive than Ever Bilena products.8. Highly advertised on E-Commerce Sites9. Distributed nationwide10. Differentiation strategy
1. Describe the primary targetmarket (PTM)* 18-28 years old, women, social class AB and C, Single ladies) Actively out in the public and interacts a lot with other people(such as dating), spray as often as you like whenever you need refreshment -before going out and before meeting other people to get that mood enhancement and heightened attractiveness.
2. My PTM’s NWDNeeds from Maslow’s hierarchyWants determine choiceDemands for them to buy the product
Describe your PTM needs Self-Actualization Needs (Self-DevelopmentI am happy to be in a & Realization)romantic relationship Esteem Needs (Recognition, Status) I want to be fresh, Social Needs (sense ofdesirable and attractive belonging, love) Safety Needs (security, protection) Physiological needs (food, water, shelter) Reference: Maslow’s Hierarcy of Needs Marketing Management, 11th ed, Philip Kotler 6
2. PTM’s needs, wants &demandsWomen need to build friendships and a romantic relationship, to gain self-esteem, achieve self- actualizationWomen prefer Victoria’s Secret over other fragrances because of their packaging, price, popularity demand, mildness, refreshingness, moisturizing effects, and unique sexy scent.Women demand a long-lasting scent, refreshing effects to the skin and the sense of smell, feel more attractive and desirable, and good and credible quality.
3a. Victoria’s Secret in thePhilippines has a lot of bigand established Competitors Direct: Ever Bilena, The Body Shop, Avon, Johnsons, Brand signature colognes (like those for Bench, Penshoppe, Marks & Spencer) Indirect: Eau de Toilette, scented powders, scented lotions, scented body wash, scented soaps Price, availability, popularity or brand equity, packaging, benefits, and the unique brand promise of heightened sexual attractiveness.
High perceived brand equity as of 2011 Price vs. Brand EquityPrice/ Brand Equity Low value High valueMatrixHigh price The Body VS MistsShop MistsLow Price EB Mists
as of 2011 Example of a benefit positioning vs. brand map for Body Mists Benefit Positioning vs. Brand Matrix Functional Benefit Ever Bilena Mist Victorias Secret Mist The Body Shop MistSexy scentskin conditioningcalming scentluxury fragranceheighten attractivenessincrease desirabilitylong-lastingSaves money Harder to stand out amidst the competitive clutter.
as of 2011 Ever Bilena has been following the packaging and scents of Victoria’s Secret and sell them here in the Philippines.The packaging(size, shape, color) of Victoria’s Secretand Ever Bilena are very similar and even the scent andProduct name are the same and offering them cheaper. Ever Bilena Mist VS Mist Harder to stand out amidst the competitive clutter.
4. Victoria’s Secret positionsstrongly on DifferentiationVictoria’s Secret-has created the image of being sexy in its brand name itself.-has developed scents that brings out the sexiness in a woman-focuses on Women.Ever Bilena has been literally trying to copy this position.Maintaining the image of sexiness in their lingerie lines continues to be manifested in their beauty products.
5a. Estimate of market sizeusing competitor data-Growth in fragrances rebounded to record value sales of Ps7.6 billion during 2010 as 5% value growth was recorded, a significant improvement on the 2% current value growth recorded during 2009.-Avon Cosmetics share on the 7.6Billion is 40% or 3.1Billion-The Body Shop 10%-Ever Bilena 10%-Victoria’s Secret 3%Reference: http://www.euromonitor.com/fragrances-in-the-philippines/report
5b. Based on personalknowledge1. With its popularity yet limited availability in the market, I assume a 3% market share.2. 3% of 7.6Billion = 228Million
5c. Estimate the market sizeusing customer data1. Usage per day(15spritz or 3mL): -5 spritz before leaving the house in the morning -5 spritz after eating lunch -5 spritz before going home2. 250mL/3mL = 83 days of usage to fully consume3. 365/ = 4 bottles a year.4. Assuming 250,000 people religiously follow this customer consumption: 250k X 4 = 1Million Bottles or 2Million X 500 pesos = 500Million pesos
5. Concluded Body MistMarket is 228Million pesos.1. Competitor data=Php228,000,0002. Company data = Php228,000,0003. Customer Usage data = Php500,000,000
6a. Show how product looksvs. competition Product shot 1 of direct competitors
6b. What do you experience whenchoosing Victoria’s Secret BodyMists…*Experience the luxury of fragrance.*Refreshing formula is infused with conditioning aloe vera and calming chamomile.*Spray on for a sexy touch of scent
6b. Victoria’s Secret FantasiesFragrance mists have 15 differentscents:1. BE SEDUCED 9. PEAR GLACE2. LOVE SPELL 10. WILD SCARLET3. PURE SEDUCTION 11. LOST IN FANTASY4. STRAWBERRIES AND 12. ENDLESS LOVE CHAMPAGNE 13. RAVISHING LOVE5. VANILLA LACE 14. SECRET CHARM6. AMBER ROMANCE 15. MANGO TEMPTATION7. COCONUT PASSION8. SHEER LOVE
7. Price- Brands focus on a mix ofquality and pricing to createattractiveness to customers VS Mists(250mL) are sold at 500 pesos in Watsons The Body Shop regular Mists(100mL) are sold at 795 pesos in all branches Ever Bilena Mists(250mL) are sold at 250 pesos and small Mists(90mL) are sold at 150 pesos in Watsons
7. Price- Body mist prices vary fromPhp1000-Php7950 per Liter VS Mists are sold at 2000 pesos per Liter The Body Shop Mists are sold at 7950 pesos per Liter Ever Bilena Mists are sold at 1000 pesos per Liter or 1667 pesos per Liter.
7. Price Conclusion:Victoria’s Secret mists are 75% cheaper thanThe Body Shop Mists and 20% or 100% moreexpensive than Ever Bilena mists. Relative prices vs. VS mistsSize VS TBS EB250mL 100% 400% 50%
8a. Which of these modesdoes your product use?** Pls. rank most used, 1-highest use1 2 3 56 4
8a. Samples of PromoSamples This can be in multiple slides
8a. Samples of PromoSamples:WholesalingBuy 25 pieces or more and get free shippingBuy 50 or more and get extra 5% OFF
8b. Competitor promoEver Bilena:http://www.youtube.com/watch?v=0zvRXn9FE24http://www.youtube.com/watch?v=0zvRXn9FE24The Body Shop:http://www.thebodyshop.com.ph/Index.php
9. Victoria’s Secret is soldnationwide Mists are sold at all Watsons branches, Other Malls such as Cash & Carry Commonly sold online through E- Commerce websites by individuals who often travel to the US.(such as ebay.ph, sulit.com.ph and etc.)http://stores.ebay.ph/rodeo-drive2007/_i.html?_nkw=secret+mist&submit=Search&_sid=584631916
10. The generic winningstrategy used by Victoria’sSecretDifferentiation plays a major role in the strategy used by Victoria’s Secret