CHAP. 7 BUSINESS MARKETING

Victoria's secret mostly retails consumer products such as lingerie, underwear, sportswear, clothing, swimwear, beauty products and other. Those products are purchased for personal consumption and can't be use in business.
Victoria's secret was founded in 1977 and was bought 10 years later by Limited Brands which transformed it as the 1st retailer of lingerie in US. VS most important manufacturer is based in South Asia. The factory is in Sri Lanka and is called MAS, it is specialized in lingerie and produces a sixth of bras sold by VS.
In order to better promote its products, VS uses internet. On internet, VS created its own website which provides every collections and allows customers to easily make purchases. Advertising and public relations are done through social media such as Facebook, Twitter, Pinterest, Instagram and others in order to stay in touch with customers. 26 millions on average of fans are connected with VS through Facebook, 3,5 millions through Twitter. Also, the company has a Youtube channel which is updated regularly with new commercials and is watched by 96 millions of fans. In the other hand, the company stays in touch through emails as well. Customers' emails are monthly  updated with new collections, coupons, discounts, and events.
Besides Limited Brands and its manufacturers, VS is not really affiliated to any other firms because its products are more for personal consumption or gift.

CHAP. 11 DEVELOPING AND MANAGING PRODUCT

Victoria's secret, besides being the first retailer of lingerie in US, is also producing fragrances, make up, clothing, sportswear, swimwear and many other accessories. Every month, a new product is launched at VS, whether it is lingerie or beauty products. For example, most recently it launched FABULOUS Eau de Parfum a floral fragrance

that already accumulated 5 stars in reviews and VERY SEXY NOW Eau de Parfum a fruity fragrance. It also created a bombshell day every first Saturday of May in which a couple of new products are released in stores. This year, it was the second edition of the bombshell day, the company chose to produce more items in its VERY SEXY collection. The VERY SEXY collection provides push up bras, laces, balconets and babydolls. At the bombshell day, VS also make promotions such as buy one bra and the second is 50% discount. 

 

Every time a new product is launched, Victoria's secret goal is to educate its 25-30000 employees in sales associates and stores to communicate that newest to the costumers, while still meeting their needs in terms of what they are coming in for. The company focuses on conversion and how to convert customers, using that as the metric to success - The number of customers that walk through the door are converted to purchases. 

In terms of strategy VS is reaped huge benefits from its lingerie products while expanding into new products. This has allowed VS to gain a stronger name in the lingerie industry by also selling clothes. At the present time without any real competitors, there is no doubt VS has established itself as the standard in the lingerie business. Being the standard has allowed them to enter new industries developing new products with much success. VS is definitely at its maturity stage due to its leader place on the market.