Chapter 15 (Retailing)

I went to victoria's secret, the one located in manhattan center mall on 901 6th Avenue, New York, NY 10001, I also checked out the victoria's secret store there going to open a block from there. from my expirience I can definetlly say that victoria's secret is a well managed store, and they definatlly do a good job in keeping there target market (women) pleased with there products.  the only bad thing for me was choosing between the very sexy perfume and lotion an the angel perfume an lotion!!

what I most loved about the victoria secret stores, is that no matter to which victoria secret you go to, is always very pink ang girly

Consumer decision Making

Consumer decision making is basically all the prosess one goes through before buying the good or product.

There are over 1000 vicoria secret stores scatered over the U.S and, and mails out approximately 375 million catalogues per year. Victoria’s Secret sells women’s lingerie, pajamas, make up, perfume, and other feminine-related items. Victoria’s Secret has been a big driver of financial success for Limited Brands (parent company) and VSX-Sport Line is expected to be a big part of Victoria’s Secret’s sustained growth.



As costumers we pay attention to what is hip and trendy in the marketplace. Advertising plays a mayor role in fashion decisions made by adults and pre-adults alike. For example, advertisers for Victoria’s secret have done a brilliant job of creating an association with the Victoria’s Secret brand and the visual image of sexiness that immediately comes to mind.  They do this by  having the victoria secret fasion show which uses famous super models to market their signature lines, they also use there models on comercials and other types of advertisment. They use there models, so that there consumers can  begin to believe that they can be just as seductive and sexy  as the Victoria’s Secret super models if they purchase the product (or atleast hope to be).

This is how the consumer decision process works
1. Need recognition

one's you watch a victoria sectret comercial comercial, like this one, you start to see a want or desire for a product. obcourse know you seeing how victorias sectret products can make you feel sexy.

2. Information research
This is the part were consumers will go look for information on the product one want. you can do this online at the victoria's secret website, or personally go to the store, and see how much it cost and how much other companys have that same products for. 

3. Evaluation of Alternatives
 After gathering information the costumer normally evaluates the alternatives before making a decision. The buyer may wait for a sale, may go to Victoria’s Secret store to try on the product, or may compare Victoria’s Secret prices and quality of product with others retailers.
 
4. Purchase
After gathering the information, all that is left is to make the purchase. Looking at the success Victoria’s Secret has had so far my judgment is that many people are more inclined after research to purchase their product

5. Post purchase behavior
this is when youve aready have the product. we look at weather or not the product meet your ecpectations

 

Reward of global market

 

Victoria’s Secret is the as the brand for Hot, alluring and must-have lingerie. In these past years, the Victoria Secret company has seen a noticeable growth in its catalogs and website sales in foreign countries and have expanded to, Australia, Canada, Singapore, UK, and Soviet countries such Russia and Ukraine. Victoria Secret has stores on the airports in Buenos Aries, Argentina, San Paulo, Brazil, Dubai, United Arab Emirates, Barbados and Mexico City International Airport. victoria's secret is deciding on its current plans to establish one hundred more in the global market. This year, two Victoria’s Secret stores will launch in Britain, one in Kuwait and two in United Arab Emirates

Les Wexner originated The Limited into a fixture in shopping malls across the United States. He built on that success by transforming Victoria's Secret from a tiny mail order firm into a global brand. More recently it has extended its international presence with the purchase of Canadian company La Senza, and developed personal care and beauty chain Bath & Body Works as its #2 brand.

 

The External Marketing Enviornment

   MARKETING ENVIRONMENT


Victoria's Secret markets is directed specifically to women. Its diversity of products is designed to satisfy the desires of women of all ages from a middle school-er to a sixty-years-old women. Victoria's Secret products aren't pricey, so every woman wants to get there hands on them.  they also almost always have sales. men can also shop at Victoria's secret to get their wives, girl friends or even female friends n attractive gift, that doesn't take a lot out of the pocket. The environmental management is very active and important in this particular company. This is what this company it's all about having and creating new idea's with their designs and products for the consumers to buy. Every season Victoria's Secret brings a new design as underwear, make up and perfumes. They are also very diverse with the products, there always expanding, like when they made the new fitness line. they always find a way to make and give their consumer goods and services that interest them

Ethic & Social Responsabilities

ethics is the idea of rigth and wrong conduct, while social responcibility is the business responsibility for society. im going to look into victoria secret ethics and social resposibilities

victoria secret not only creates clothes for women to feel sexy, but they are a social responcible company.

 

 victoria secret was known for printing millions of catalogues on paper made by clearcutting Canada's boreal forests. they are deciding to change that and go green. Victoria’s Secret mails over one million catalogs per day, catalogs that are printed entirely on Forest Stewardship council certified paper. By using this paper they show ethical and thoughtful environmental behavior. At the same time they set an example for other companies to follow their lead. They have the  FSC logo, which allows consumers to recognize companies that support the growth of responsible forest management worldwide. 

 

althought they are going green, it was found out that victoria secret had  their “fair trade” organic cotton was harvested by child slaves in its lingerie line. There have been reports that children have been beaten, forced to work long hours, and have not been given any food. little girls and boys around 13 are forced to work under such conditions. well i personally was shoked about this, i mean this is soppose to be a female empowerment company, yet this is what we hear. well guess they dont seem that ethical know...

strategic planning

strategic planning is when business makes a stategy and how it is followed and carried out. The stragetic plan can make or brake a business. know we look at victoria's sectret strategic planning.

 

-Victoria secrets stategic planning is to focus on women of ALL ages.

-Victoria's Secret is betting its future on expanding its line, into fitness wear for women.

Fitness clothes has been in high demand in recent years and victoria secret is taking advantage of this and expanding its territory into fitness wear for women. they have recentlly revieled there new  “VSX Sexy Sport” collection.

what victoria secret does for competition

 

victoria's secret gives the “Free Panty” coupon. Victoria’s Secret sends these out every month to all of their customers. so you get something free just buy walking in. its no "but buy one get one free" or you have to spent a certain amount, like other companies

 

they also have the clearens sale, These sales occur in the winter time (usually every January) and also every summer. These sales are huge and amazing. they have really good prizes. they have discounts ranging around 30 to 70%. I remember going to one, i found really amizing stuff at a really low price. I also remember spending 20 minutes in a line.

Chapter1-Brief history and mission statement.

BRIEF HISTORY

victoria secret was founded by a guy named roy ramond in 1977, who felt embarrased after entering a department store to buy lingerie for his wife. His idea was to create a place were both man and women could feel comterble bying lingerei. Roy ramond then sold off "victoria secrete" to Leslie wexner in 1982. Leslie then started the annual victoria secret fashion show. This is what got the attention of many celebraties, and many peoples, including myself. victoria secret started of as a lingerei store, but know they sell lingerei, sleepwear, clothing shoes, beauty products and performs. The product I will be concentrating on is the new perfume "angel"

MISSION STATEMENT: Our mission is to deliver a best in class, captivating, branded customer experience that builds loyalty and enables consistent sales and profit growth.