Victoria's Secret Product Development
- 1. Michaela Polk &Michael Fagone October 18, 2011 Period E Mrs. Scheffer Marketing and Business 1
- 2. Product Pink Undergarments - Bombshell Sleepwear Women’sclothing Lingerie Swimwear Fragrances Beauty products Hair Products Price $3 - $90 Place VS boutiques VS outlets in malls VS website Approximately 1,200 stores nation wide Promotion Flyers - mailed TV commercials – Style, Lifetime, E!, Bravo Shopping bags Billboards Magazine adds – entertainment weekly, people, cosmopolitan,
- 3. Demographics • 16 –mid 40’s • Female • High school – college graduates • Caucasian • White collar – managers, sale executives • Single or married • Also males buying for their girlfriends/wives Psychographic • All clothing matters, make-up and perfume is a must, being fit • You look good, you feel good • Looking good at the gym, eating healthy, shopping • Cant buy clothing from just anywhere • Fashion, looking like a celebrity Geographic urban environments New York, Seattle, DC, LA, Miami, Boston, San Francisco, Houston, Las Vegas, Chicago Population: 20,379,228 • 1,200 stores in the US – more internationally Customer Profile
- 4. Strengths • Brand recognitionworld wide • Powerful advertising – super models, famous photographers • New collections presented in annual runway shows • Reliable brand – around over 34 years • Wide range of products – from undergarments to beauty products and also fragrances Weaknesses • Only target market is women • Market limited to mainly US and European countries • Doesn’t offer wide range of sizes for different body types • Clothes aren't made for casual everyday wear: more elegant and extravagant • Wide known brand image – may be hard to start new lines Opportunities • Can start to target men - new brand • Can create a business formal work line for women • Can go global – introduce more stores world wide • Also expand on the stores in America to offer all lines • Can offer more clothing to larger sized women – create new brand Threats • Is largely affected by the economy • Competition targets men and larger women sizes • A lot of other companies offer the same products – large number of competition, lower prices
- 5. Product Underwear Sleepwear Men’s clothing Swim shorts Colognes HairProducts Price $10 - $90 Place XY boutiques XY outlets in malls XY website Approximately 1,200 stores nation wide Promotion Flyers – mailed TV commercials – Style, Lifetime, E!, Bravo Shopping bags Billboards Magazine adds – Golf, Sports Illustrated, Muscle Mag
- 6. Demographics • 18 –mid 40’s • Male • High school – college graduates • Caucasian • Higher than entry level • Single or married • Also females buying for their boyfriends/husbands Psychographic • All clothing matters, being fit, always trying to get females attention • You look good, you feel good • Looking good at the gym, eating healthy, impressing females • Cant buy clothing from just anywhere • Fashion, looking like a celebrity Geographic urban environments New York, Seattle, DC, LA, Miami, Boston, San Francisco, Houston, Las Vegas, Chicago Population: 20,379,228 • 1,200 stores in the US – more internationally Customer Profile