Victoria's Secret
Final Marketing Plan
Marketing is a crucial part of any new product line. A well researched, innovative marketing plan is a must when planning a successful product launch. This final marketing plan for Victoria 's Secret Lil ' Devil 's line of men 's-wear incorporates all the necessary steps involved in a successful marketing plan and product launch.
Organizational Overview
Victoria 's Secret is the leading specialty retailer of lingerie, operating more than 1,000 stores across the United States. Part of the larger organization Limited Brands, which is based out of Columbus Ohio, has built a superior form of brand recognition. Victoria 's Secret has helped, perhaps more than any other brand, attract attention to the lingerie industry (White, …show more content…
For example, at a cost, the firm can promote its objective by such activities as in-store demonstrations/samples and special placement (for which the retailer is often paid). Placement is also an opportunity for promotion. Other opportunities involve "parallel" distribution, having products sold both through conventional channels and through the Internet or factory outlet stores. Partnerships and joint promotions may involve distribution.
Firms make money on the totality of products and services that they sell, and sometimes, profit can be maximized by settling for small margins on some, making up on others. Retailers involved in a more exclusive distribution arrangement are likely to be more loyal, they will tend to recommend the product to the customer and thus sell large quantities as well as carry larger inventories and selections and provide more services.
· Promotion/Advertising: Customers can be quite effectively targeted in many situations because of the context that they themselves have sought out. For example, when a consumer searches for a specific term in a search engine, a "banner" or link to a firm selling products in that area can be displayed. Print and television advertisements can also feature the firm 's web address, thus inexpensively drawing in those who would like additional …show more content…
There are two basic promotion strategies, PUSH and PULL. The PUSH strategy maximizes our use of all available channels of distribution to "push" the offering into the marketplace. This usually requires generous discounts to achieve the objective of giving the channels incentive to promote the offering, thus minimizing our need for advertising. The PULL strategy requires direct interface with the end user of the offering. Use of channels of distribution is minimized during the first stages of promotion and a major commitment to advertising is required. Our objective is to "pull" the prospects into the various channel outlets creating a demand the channels cannot
Marketing is a crucial part of any new product line. A well researched, innovative marketing plan is a must when planning a successful product launch. This final marketing plan for Victoria 's Secret Lil ' Devil 's line of men 's-wear incorporates all the necessary steps involved in a successful marketing plan and product launch.
Organizational Overview
Victoria 's Secret is the leading specialty retailer of lingerie, operating more than 1,000 stores across the United States. Part of the larger organization Limited Brands, which is based out of Columbus Ohio, has built a superior form of brand recognition. Victoria 's Secret has helped, perhaps more than any other brand, attract attention to the lingerie industry (White, …show more content…
For example, at a cost, the firm can promote its objective by such activities as in-store demonstrations/samples and special placement (for which the retailer is often paid). Placement is also an opportunity for promotion. Other opportunities involve "parallel" distribution, having products sold both through conventional channels and through the Internet or factory outlet stores. Partnerships and joint promotions may involve distribution.
Firms make money on the totality of products and services that they sell, and sometimes, profit can be maximized by settling for small margins on some, making up on others. Retailers involved in a more exclusive distribution arrangement are likely to be more loyal, they will tend to recommend the product to the customer and thus sell large quantities as well as carry larger inventories and selections and provide more services.
· Promotion/Advertising: Customers can be quite effectively targeted in many situations because of the context that they themselves have sought out. For example, when a consumer searches for a specific term in a search engine, a "banner" or link to a firm selling products in that area can be displayed. Print and television advertisements can also feature the firm 's web address, thus inexpensively drawing in those who would like additional …show more content…
There are two basic promotion strategies, PUSH and PULL. The PUSH strategy maximizes our use of all available channels of distribution to "push" the offering into the marketplace. This usually requires generous discounts to achieve the objective of giving the channels incentive to promote the offering, thus minimizing our need for advertising. The PULL strategy requires direct interface with the end user of the offering. Use of channels of distribution is minimized during the first stages of promotion and a major commitment to advertising is required. Our objective is to "pull" the prospects into the various channel outlets creating a demand the channels cannot