New Product: are products that are
1 - new to a company or new to a market
2 - include existing products which have been improved or revised, brand extensions, additions to existing line, repositioned products targeted at to new markets, and new-to-the-world products
Victoria Secret: New Products
Angel Fantasy- Push up bra
this product is an improved product
Sleep wear-pjs
this is a also a new product to the brand extensions
Integrated Marketing Communications:is an approach to achieving the objectives of a marketing campaign, through a well coordinated use of different promotional methods that are intended to reinforce each other.
Victoria's secret Marketing Campaign: One of Victoria’s Secret’s strengths in its Marketing campaign is it very successful advertising strategy. In a business that sells an image and a lifestyle, advertising is crucial. Victoria’s Secret spends $66 million each year on advertising (as I stated before), essentially defining beauty and packaging it for consumers. Thousands of newspaper ads, catalogues, and televised fashion shows convince women that buying Victoria’s Secret products will boost their confidence and enhance their appeal.
Promotion: Victoria’s Secret sends special promotions to those that subscribe to their email or own the Angel credit card as an incentive to keep making purchases.
Competitive Advantage:Victoria’s Secret as has its own catalog, which releases new issues every month. This is an example of the company’s use of a pull-strategy. Victoria’s Secret does not rely on other retailers for the sale of their products. They do all the legwork themselves. As such their primary focus is to convince the final consumer to purchase their products. Limited Brands dedicate a real estate division to placing all its stores in prime locations, but this experienced group also has an advantage in negotiating leases because it represents several major labels. The family of brands is particularly popular with young women, who make up a large segment of the shopper population. Often, four or five Limited Brand companies are found as tenants under the same roof.
Through their use of integrated marketing communications Victoria’s Secret has successfully become and continues to be the number one provider of sexy women’s wear in the United States.
Product concept: is the understanding of the dynamics of the product in order to showcase the best qualities of the product. Marketers spend a lot of time and research in order to target their attended audience.
What is the first thing that pops in your mined when you hear the the name "Victoria's secret"? well for most people, they think of underwear, however now Victoria's secret sale all type of products for women, not just lingerie They sale clothes shoes and beauty products. Victoria Secret products fall into the category of consumer
products because they are brought to exclusively satisfy women's
personal wants and needs. They spend a lot of time making sure that their consumers are satisfy with the products they have to offer.
