Victoria Secret to Asia

Topics: Victoria's Secret, Brand, Lingerie Pages: 27 (6812 words) Published: June 1, 2009
Global Marketing Plan

Global Marketing Plan
Victoria’s Secret to Asia May 22, 2009

JCU

600 Upper Thomson

Global Marketing Plan

Table of Content
Company Profile
History
Mission
Products
Situational Analysis
Current Position
Current STP
Current Marketing Mix
Internal Environment
External environment
SWOT
Strength
Weaknesses
Opportunities
Threats
Victoria’s Secret go Global
Country Attractiveness Analysis
Competitive intensity
Singapore
Japan
Why Singapore?
Marketing Objectives
Marketing Strategy
STP
18 Market Entry strategy
Marketing Mix
Products
Marketing Implementation, Evaluation & Control
Implementation
Evaluation
Possible problem
References
18 19 19 22 22 22 22 23 1 1 2 2 3 3 3 4 5 5 9 9 10 10 10 11 11 16 16 16 17 18 18

JCU

600 Upper Thomson

Victoria’s Secret

Global Marketing
I.Company Profile
History
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, 2004, p.1). The brand Victoria's Secret virtually monopolizes the lingerie business in malls all across the United States. Roy Raymond established Victoria's Secret in San Francisco during the early 1970's. The concept was to establish a cozy, inviting atmosphere similar to that of a Victorian boudoir (White, 2004, p.1). Roy's Victoria's Secret, consisting of three stores and a catalog business, was acquired by Limited Brands, among some controversy, in 1982. Many incorrectly believe that Victoria's Secret was of British heritage, an image which some say was perpetuated by its parent company (White, p.1). By the early 1990s, Victoria's Secret had become the largest American lingerie retailer topping one billion dollars. On 10 July 2007, Limited Brands sold 75% of Limited clothing chain to firm Sun Capital Partners to focus and boost sales growth on Victoria's Secret lingerie stores and Bath & Body Works units which provided 72% of revenue in 2006 and almost all the firm's profit. There are 1,003 Victoria's Secret lingerie stores and 100 independent Victoria's Secret Beauty Stores in the US, mostly in shopping centers. In January 31, 2009, Company operates 1,043 retail stores located in leased facilities, primarily in malls and shopping centers, throughout the United States. "Victoria's Secret Angels" are the brand's most visible models and spokeswomen. On November 13, 2007, Victoria's Secret Angels became the first trademark awarded a star on the Hollywood Walk of Fame.

Global Marketing Plan

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Victoria’s Secret

Mission
Victoria‘s Secret is committed to building the world’s best fashion brand offering captivating customer experiences that drive long-term loyalty and deliver sustained growth for our shareholders.

Products
It sells brassieres, panties, hosiery, cosmetics, sleepwear, and much more. Victoria's Secret mails more than 400 million of its catalogues per year. The company was able to vend a widened range of products such swim wears, night wears, lingerie’s and perfumes among others with its mail catalogue issued eight times annually. Among those strategies, Victoria's Secret is offering unique and innovative textures in the cloth or fabric used to manufacturer the products. Through differentiation can be achieved in many ways, the maximum scope for exploiting differentiation remains with the product. Ultimately, the company should want its customer to say "it's different", difference creates identity and brand loyalty (Karia, p.3).

Currently, Victoria's Secret offers a large assortment of products that are not only lingerie based. In the store part of the organization, there are also beauty and fragrance products that include cosmetics...

References: 1.Johny K. Johansson, 2006-Global marketing-Foreign entry, local marketing & global management Fourth Edition- McGraw Hill International 2.Victoria’s Secret: Lingerie and Woman’s clothing, Accessories and more – Retrieved on May 6th, 2009 from http://www.victoriassecret.com/?cm_mmc=Google-_-Singapore_VSBrand-_-exact-_-victoria%20s%20secret %20Exact 3.Victoria’s Secret – Retrieved on May 6th,2009 from http://en.wikipedia.org/wiki/Victoria 's_Secret 4.Victoria’s Secret MySpace - Retrieved on May 7th, 2009 from http://www.ask.com/bar?q=victoria%22s
+secret&page=1&qsrc=0&ab=4&u=http%3A%2F%2Fwww.victoriassecretmyspacelayouts.com%2F 5.Limited Brands (LTD) Annual Report 2007 - Retrieved on May 21st , 2009 from http://ww3.ics.adp.com/ streetlink_data/dirLPD/annual/HTML1/default.htm 6.Limited Brands (LTD) First Quarter 2008 Financial Packet - Retrieved on May 21st , 2009 from http:// www.wikinvest.com/stock/Limited_Brands_(LTD) 7.Limited Brands, Inc. 1Q08 (Qtr End 5/3/08) Earnings Call Transcript - Retrieved on May 21st, 2009 from http://seekingalpha.com/article/78508-limited-brands-inc-1q08-qtr-end-5-3-08-earnings-call-transcript?page=8 8.Intimate Brands, Inc. Home Page, 28 April 1998 - Retrieved on 15th May,2009 from http:// www.intimatebrands.com/index.jsp 9."Intimate Brands, Inc." Hoover 's Online, 25 April 1998 - Retrieved on May 15th, 2009 from http:// www.hoovers.com 10.Japan – Country profile – 2008- Retrieved on May 07th , 2009 from http://www.indexmundi.com/japan/ index.html#Economy 11.The 2009 Index of economic freedom-The Heritage Foundation and Wall Street Journal 12.Statistics from Singapore Tourism Board - 2008 – Retrieved on 30th April, 2009 from http:// www.stb.com.sg/ 13.Statistics from Japan National Tourist Organization (JNTO) - 2008 – Retrieved on 30th 2009 from http:// www.jnto.org.sg/ 14.Statistics Singapore – 2008 – Retrieved on 10th May 2009 from http://www.singstat.gov.sg/ 15.ICA – Visa requirements – 2008 – Retrieved on 10th May, 2009 from http://www.ica.gov.sg/page.aspx? pageid=96&secid=94 16.Statistic from International Monetary Fund – 2008 – Retrieved on 10th May, 2009 from http://www.imf.org/ external/pubind.htm
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Victoria’s Secret
17.Global Intimate Apparel Market: 2008 – Retrieved on 15th May, 2009 from http://www.just-style.com/store/ product.aspx?id=70169&lk=ea 18.Alix Partners - Retail Advertising & Shopping Trends - Shop Local’s Pulse of the Shopper & Holiday 2008 Retail Spending- Retrieved on 11th May 2009 from http://www.alixpartners.com/en/ 19.International Council of Shopping Centers – Retrieved on 11th May, 2009 from http://www.icsc.org/srch/ apps/newsdsp.php?storyid=2489®ion=main 20.The Washington Times - Recession winner: Granny underwear – 24th February, 2009 – Retrieved on 12th May, 2009 from http://www.washingtontimes.com/news/2009/feb/24/underneath-it-all-were-just-not-feelingso-sexy 21.Hong Kong Mode Lingerie : Hong Kong Mode Lingerie Analyses the Trends and Market of Lingerie in Asia – 8th April 2008 - Eurovet Asia Limited 22.Datamonitor, Global Womenswear industry, August 2008, www.datamonitor.com 23.Datamonitor, Singapore Womenswear industry, July 2008, www.datamonitor.com 24.Datamonitor, Japan Womenswear industry, August 2008, www.datamonitor.com 25.Datamonitor, Global retail industry, July 2008, www.datamonitor.com 26.Triumph International Ltd, www.triumph.com 27.Central Intelligent Agency, The world fact book, https://www.cia.gov/library/publications/the-world-factbook/ docs/profileguide.html 28.Victoria Secret Annual Report, 2007, www.victoriasecret.com 29.Tony Hines and Margaret Bruces, 2007, Fashion marketing: contemporary issues, 30.Japan Lingerie market, http://www.fibre2fashion.com/news/company-news/fashion-in-japan/ newsdetails.aspx?news_id=19124
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