chp 7 business Marketing

Business Marketing: The marketing of goods and services to companies, governments, or not-for-profit organizations for use in the creation of goods and services that they can produce and market to others.

Business marketing and Victoria's secret

Victoria's secret practices Business-to-Business Electronic Commerce. It gets most of it profit from online, since people would rather go online, since it is easier that way. you just got to go to their website and order, they even give free shipping sometimes. it is also better for other business to but a large amount of products to resell

souce:http://highered.mcgraw-hill.com/sites/0073381063/student_view0/glossary.html 

ch 8 Segmenting and Targeting Markets

Victoria's secret Limited Brands targets women that value beauty, boldness, self-care and image. These women are the concentrated target market of Limited brand. These products are meant to satisfy their desires and wants. Limited Brands main target are middle class women ages 18-40, however its Targeting Strategy is Multi-segment.

their strategy are Multi-segment because the target all type of women, and person has a different want. for example i might like the very sexy perfume from victoria's secret, while some one else might want victoria secrets make up products. different things Victoria's secret sales  appeal to different women, a teenager might not want the same thing as her mom.

This strategic multi-segment are women who can afford to buy a product that is higher than the average price in return for superb quality and up to date fashion. This make these women feel really good about them self

and their is nothing like having high self esteem

Ch. 11 - Developing and Managing Products

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

peep toe pumps

Ch. 16 -Integrated Marketing Communications

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.

Ch. 10 - Product Concepts

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.

Sales Promotion and Personal Selling

Sales promotion is any initiative undertaken by an organisation to promote an increase in sales. this can happen in two ways either by lowering the price or adding value. 

Victoria's Secret is one of the most famous retailer for women wear, including, bras, panties, thongs, babydolls, robes, perfumes, swimsuits, clothes, dresses, sweeters, fitness wear and much more.  They do a very good job pleasing there taget market (women).  This fall they realezed a new holloween costume line. This is great to know,  considering the fact that holloween is around the corner
One of the strategies used by Victoria’s Secret to boost their sales is to get more aggressive with offers, not necessarily bigger discounts, but a better-perceived value.  Victoria’s Secret has put this practice into place by adding more beauty samples to some of their customer gifts with purchase or making the gifts with purchase bags larger without costing more to do so.  They are not focusing on discounts but are bringing more attention to offers they already have such as buying four items to get one free.

Sales Promotion for victoria secret
To Earn Online/Catalogue: 

• To Earn Online/Catalogue: 
  • Place an order of in-stock merchandise totaling $10 or more and use offer codeLOVEANGELS at checkout.
  • Choose the Victoria’s Secret Angel Credit Card* as your method of payment. (You must complete your order with an Angel Credit Card to qualify.)
  • Your free Secret Reward Card will be added to your order after offer code is applied and will be included in your merchandise package. One free Secret Reward Card per order.
  To Earn in Stores: 
• Use your Victoria’s Secret Angel Credit Card* with any purchase of $10 or more to receive your free Secret Reward Card. One free Secret Reward Card per customer, per day.Valid only at US, non-outlet Victoria’s Secret stores. 
• 
  
• Other Sales

 

Ch. 17 - Advertising and Public Relations

It is no Secret that Advertisement Plays a mayor role in the success of a company. like many companies Victoria's secret owes most of its success to its advertising.
There biggest advertisement is there annual fashion show in witch they get models/angels to walk the runway with their lingerie

In the fashion show you see the models having fun. The annual fashion show grabs the attention of the public and many celebrities. They feature many celebrates, to make sure the get our attention.
this year they will be featuring Justin Beaber, Bruno Mars and Rihanna.

you can watch the annual fashion show Tuesday, December 4, 2012 at 10:00pm on CBS
 Here's a video of the 2011 Fashion show

The annual fashion show is definitely not the only advertisement Victoria secret does, They have many commercials and they make sure to organizes a photo and video shoot for their models when promoting new products such as the VSX Sexy Sport line. 

Victoria’s Secret spends around $66 million each year on advertisements that essentially define beauty for consumers. i think that the $66 million or more they spent on advertisement this year is defiantly worth it.