Target market means that a group of customers that the business has decided to aim its marketing efforts and ultimately its merchandise towards. The company needs to really know about their target market. So do the targets. It is because, by really knowing your target; you would not pay too much on wrong advertising style. For example PINK target market are woman age 18 – 30 years. So when PINK wants to create TV Commercials; PINK need to put it on AXN, Fashion Channel or FOX channel, not in Disney Channel. It is because, so many woman on that ages watch these channels. Target market position is inside Served Available Market and total Available Market. It means here, the total available markets here are women on age 18 – 23 years old. Then the Served Available market are women that have income more than $ 500 / month (In Indonesia case). It is because, as PINK is still under the Victoria’s Secret flag; so then PINK price is on medium high categorize. Moreover, the served target market also need to know about fashion, up-to-date, and really want to be seen as a sexy woman. So if we are talking about PINK Target market:
The target markets of PINK by Victoria’s Secret Products are: Age group 18 – 30 years old
Have income more than $500 / month
And young, hip, and fashionable style scholars.
PINK by Victoria’s Secret is targeting their market by using Concentrated Targeting Strategy. It means that PINK defines and makes it specific about their segments of population. They really know who are the buyers of their product, and really know how to attract the buyers. In addition, there is a limited resource for distribution, production and advertising. Means here, PINK do not want to attract every people that is not inside PINK target market. In advertising strategy, PINK really knows how to attract their consumers. PINK really specifying all the advertisement that they would do. It is because PINK does not want to take wrong customers as their customer’s loyalty. If we are talking about brand, PINK is quite new in apparel industry. Even PINK is the subsidiary of Victoria’s Secret, but PINK reputation is still new out there. It makes PINK really need loyal customers to make them still alive. That is why, PINK really maintaining their loyal customers by giving them special discount coupon, which is like Victoria’s secret did, to attract them. After PINK could get their loyal customers, PINK wants to make their own brand image. So the customers could differentiate between PINK products with others. PINK wants to create home to comfy, playful, sexy fun, and effortlessly cool wear & accessories for all the customers that bought their products. This brand images really attached with the loyal customers. So when they think about ‘what should they wear when they want something comfort?’ PINK is the answer. Moreover, those PINK loyal customers would keep always buy PINK products. It is because the other brands could not treat them as the same like PINK does.
Victoria’s Secret, a division of Limited Brands, is an established and successful company that provides lingerie, clothing and beauty products to women all over the United States. The Victoria Secret brand is highly recognizable and is synonymous with quality products. In an effort to expand their market share and appeal to a younger customer base, Victoria’s Secret created the PINK line. This line is comprised primarily of loungewear such as sweatpants and t-shirts, which are characterized by playful patterns and bright colors. The PINK line separates itself from traditional Victoria’s Secret merchandise by their focus on “cute” rather than “sexy” products, and in doing so, have been able to attract the attention of their target market of 18-30 year olds in a big way. However, the PINK brand has also caught the attention of females outside the target market; some as young as 11. Some of the...
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