Site Loader

Project on Victoria’s Secret
Prepared For:
Aunima Nazmun Nazhar
Lecturer of Department of Marketing
North South University
Prepared By:
A.R.M. Nafiz Ul Islam Sarkar 1511511030
Fatema Tabassum Tuba 1421409030
Md Shazzad Hosen Fahim 1411570030
Mahbub Ahmed 1421273030
Nafisa Nawara 1420600030
Sadia Sultana 1330041030
Sheikh Sufiaan Ahmed 1411609030

Strategic Marketing
MKT 460
Sec-2
North South University
Date of Submission: 15th April, 2018

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

Acknowledgement
All praise to Allah the almighty and the merciful. Without the blessing of Him, it would not be
possible to accomplish the report.
The success and final outcome of this report required a lot of guidance and assistance from many
people and we are extremely privileged to have got this all around the completion of our report.
All that we have done is only due to such supervision and assistance and we would not forget to
thank them.
We respect and thank Mrs, Aunima Nazmun Nahar, for providing us an opportunity to do the
report work in Organizational Behavior course and giving us all support and guidance which
made us complete the report duly. We are extremely thankful to her for providing such a nice
support and guidance.
We hope this report meets all the requirements that were asked by our course instructor.

Letter of Transmittal
15th April, 2018
To
Mrs. Aunima Nazmun Nahar
Lecturer, Department of Marketing
North South University, Dhaka.
Subject: Submission of report on “Victoria’s Secret”
Dear Madam,
Here is the report that we assigned on the topic as per your request. The report has been
completed by the knowledge that we have gathered from the course “Strategic Marketing”.
In this report, we have used the application of theoretical and the practical knowledge that we
have obtained throughout the course and described the implementing strategies we are going to
use to start the business of Victoria’s Secret in Bangladesh. This report includes all the
requirements according to the guidance. An in-depth analysis is discussed elaborately in the
report. We are thankful to you for giving us such an opportunity to gain knowledge from the
project. We will be pleased to clarify if you have any kind of enquiry regarding our report.
Sincerely,
A.R.M. Nafiz Ul Islam Sarkar
Fatema Tabassum Tuba
Mahbub Ahmed
Md Shazzad Hosen Fahim
Nafisa Nawara
Sadia Sultana
Sheikh Sufiaan Ahmed

Executive Summary
The entire report represents how to apply different types of marketing strategies in real life. We
have worked on the high-end women Undergarments brand Victoria’s Secret which is an
international woman undergarments company running in different countries successfully. We
would introduce the brand in Bangladesh and we have discussed how we should be coordinating
different strategies in order to sustain in the Bangladeshi market. We have done first the micro
and macro environmental analysis which have helped us to get the idea of the current trend of
market. Then we have discussed how we should incorporate strategic decisions at corporate level
and for that we have used two important theories a) Porter’s generic strategy and b) Bowman’s
strategy clock. We have also included Ansoff matrix strategies and how to apply it in the
functional level. Next, we have segmented the market for our brand and identified which target
market to serve. Then we have discussed how we are going to create the brand image in
customers’ mind. We have also analyzed the brand spectrum and key rewards, personality,
values, benefits and features we would offer. We have also showed in our report what sort of
awards we would provide the customers to convert client customers into supporters and
mentioned different innovations strategies to use. We have showed the product lines we are
going to launch. Finally, we have discussed our IMC campaign which includes communication
objective, message strategy, message execution style and message source. The entire report was
worth to working on.

Table of Contents:
Introduction …………………………………………………………………………………………………………………….1

Macro-Environment Analysis ………………………………………………………………………………………… 1-2
PESTLE Analysis in terms of Bangladesh ……………………………………………………………………. 1-2
Micro-Environment Analysis ………………………………………………………………………………………… 2-3
Porter Five Forces for Victoria’s Secret in Bangladesh ………………………………………………………2
Competitor Analysis ……………………………………………………………………………………………………3
Strategic Decision at corporate level …………………………………………………………………………………..4
Differentiation strategy for Victoria’s Secret ……………………………………………………………………4
Strategic Decision at SBU level …………………………………………………………………………………….. 4-5
Porter’s Generic strategies …………………………………………………………………………………………….4
Bowman’s strategy clock ………………………………………………………………………………………….. 4-5
Strategic Decision at Functional Level …………………………………………………………………………… 6-7
Ansoff’s Matrix ……………………………………………………………………………………………………….. 6-7
Market position ……………………………………………………………………………………………………………7
Segmentation strategies for Victoria’s Secret in Bangladesh …………………………………………….. 7-9
Targeting strategies for Victoria’s Secret in Bangladesh ………………………………………………………9
Positioning ……………………………………………………………………………………………………………………11
Points of Differentiation (POD) of Victoria’s Secret ……………………………………………………….10
Points of Parity (POP) of Victoria’s Secret …………………………………………………………………….10
Brand Spectrum …………………………………………………………………………………………………………….11
The Brand wheel ……………………………………………………………………………………………………… 12-13
Key Reward ……………………………………………………………………………………………………………….12
Brand Personality ……………………………………………………………………………………………………….12
Values ………………………………………………………………………………………………………………………..12
Benefit ……………………………………………………………………………………………………………………….13
Features ……………………………………………………………………………………………………………………..13
Converting Clients into Customer ……………………………………………………………………………………13

Innovation strategy for Victoria’s Secret in Bangladesh ………………………………………………………14
Addition to Existing line ……………………………………………………………………………………………..14
New Product Line ……………………………………………………………………………………………………….14
Product and Branding Strategy of Victoria’s Secret ……………………………………………………… 14-15
Product Line ………………………………………………………………………………………………………… 14-15
Product Line Stretching ………………………………………………………………………………………………..14
Brand Elements ………………………………………………………………………………………………………….15
Communication Objective ………………………………………………………………………………………………16
Massage Strategy ……………………………………………………………………………………………………………17
Massage Execution …………………………………………………………………………………………………………17
Massage Source ……………………………………………………………………………………………………………..17
Promotional Tools …………………………………………………………………………………………………………..18
Bibliography …………………………………………………………………………………………………………………22

Page | 1

INTRODUCTION
Roy Raymond is the name behind the success of Victoria’ Secret. He founded Victoria’s Secret
in 1977 at San Francisco from $40,000 bank loan and borrowed $40,000 from relatives. The idea
came out when he felt embarrassed and uncomfortable in buying intimate clothing for his wife at
departmental store. His first year of business was impressive and worth of half a million dollar
which helped to expand Victoria’s Secret into three other stores and began a main catalogue.
This is the beginning of the success of Victoria’s Secret.
Raymond sold Victoria’s Secret which for $4 million to Leslie Wexner, founder of The Limited
Women’s apparel firm. By 1990’s, it become the largest American lingerie outfitted. Victoria’s
Secret now controls over 35% of the US lingerie market. It is now worth over $4 Billion.
Macro-Environment
Pestle Analysis:
Political Factor: Government of Bangladesh always encourages the foreign companies to invest
in different sectors of business. The tax rate is also lower than other countries. From these
perspectives, Victoria’s Secret may get the better opportunity to do the business in Bangladesh.
But the main problem for Victoria’s Secret is the unstable political situation. Strike and political
violence are the examples of these types of unstable political situation. If Victoria’s Secret can
adjust with the current political situation, they can be benefitted with the profit margin.
Economic Factor: The economic condition is improving day by day in Bangladesh. In 2014,
Bangladesh ranked 109th which is better than the year of 2013 and it was 110th. (CPD Dialogue,
2015) But most of the people are still lower and middle class family who like to spend on the
basic need rather than the luxurious things. The disposable income in Bangladesh was BDT
58,442 in 2016 which is lower than other developing nations. Due to lower disposable income,
people cannot afford the luxurious products always. It is a huge disadvantage for Victoria’s
Secret as the higher price of their products. (Trading Economics, 2018)
Social Factor: Products of Victoria’s Secret are relatively more expensive than other clothing
brand. So, they will focus only on the urban or city areas where most of the women are educated

Page | 2

and fashion conscious. More specifically, Victoria’s Secret will target the middle or higher class
people who have the high purchasing power.
Technological Factor: Bangladesh is a growing sector in technology. Now, many IT firms are
providing every solution from production end to consumer end in the technology sector with the
reasonable pricing. For example, they can keep the sales records including the customer’s
database through the software. So, it can be a very positive thing for Victoria’s Secret. But the
problem they can face from the technology end is the low internet speed though they are
focusing on this. Technological change can also create a new market for the Victoria’s Secret
with the new way of shopping. These will help them to make the relationship with customers
very smooth and reliable.
Legal Factor: The legal factors are not so strong in Bangladesh. But as a new company
Victoria’s Secret will have to follow some govt. rules and regulations. To open a new firm or
company they need to wait for a specific period of time as per the govt. rules. Product
transportation, profit margins, and viability of certain markets are all examples of things which
may be influenced by legal factors. They will also have to follow the employment law. (Thomas
Bush, 2016)
Environmental Factor: The climate is changing day by day in Bangladesh. Unplanned
industrialization is the main concern of issues for this situation. Here, the winter season is not so
cold compared to other countries in the world. So, Victoria’s Secret has the opportunity to
increase the sell in every year especially in the summer season. They can sell the cotton fabric
inner part of the lingerie. The customers will feel comfortable using this cotton fabric lingerie
inner part.
Micro Environment
Porter’s Five Forces:
? Bargaining Power of Buyers: The bargaining power of buyers is low due to high switching
cost. There are a number of competitors in the lingerie fashion. But the quality and the size
are not as perfect as Victoria’s Secret. That’s why; bargaining power of buyers of Victoria’s
Secret is low.

Page | 3

? Bargaining Power of Suppliers: The products are imported directly from outside country.
We are not manufacturing the company here. We are just distributing the product. That’s
why bargain power of supplier is not applicable for Victoria’s Secret.
? Rivalry among Existing Competitors: There are few competitors in Bangladesh. So, there
is a huge scope of winning the market share with quality, price and customer service. But no
other competitors have the same quality to compete with Victoria’s Secret. So, rivalry among
existing competitors of Victoria’s Secret is low.
? Threat of Substitutes: Though the rivalry of existing competitors of Victoria secrets is low,
there are a lot of substitutes for these products in Bangladesh. Some companies offer similar
types of undergarments products with lower cost which can affect the selling quantity of
Victoria’s Secrets. So, threat of substitutes of Victoria’s Secret is high.
? Threat of New Entrants: The market is not so saturated now in Bangladesh for lingerie and
other undergarments products. Women are becoming trendy day by day. They are coming off
from the traditional fashion. So, this is the high time for most of the new entrants. Also the
investment is not so high for an entrepreneur who wants to do the lingerie business. That’s
why threat of new entrants is high for Victoria’s Secret.
Competitors Analysis
Direct Competitor: Offers same product or
service as their primary service
Indirect Competitor: Offers same product or service
but not as their primary service
? Valancias Secret
? Sweet Dreams
? LoveBite BD
? Secret Lookz Ltd.
? Apex Lingerie Ltd.
? Local undergarments clothing shops in
Bangladesh. Like Nurjahan market.

Page | 4

Strategic decision at corporate level:
Differentiation strategy for Victoria’s Secret:
For running business in Bangladesh successfully, Victoria’s Secret should use Stability strategy
in the first 2 years of their operation. They should go for stability strategy because; initially they
need better knowledge of their target customers’ tastes and preferences. Based on that, they will
provide their customers with their basic products and will not invest on any different products.
They will open their outlet at only Pink City, Gulshan 1. They serve the higher income
consumers as their product is a premium product. These locations are the best location where
they can attract their customers easily.
However after 2 years of launching and experience gaining, they should go for growth and
retrenchment strategies. As their product will be known by their customers after 2 years of
operation and Victoria’s Secret will also have the knowledge of their customers’ choice and
demand, they can open more outlets at different locations for market expansion. They should
also follow retrenchment strategy by eliminating out the products that are not doing well or
suitable for Bangladesh and customers are not positively responding to the products. By doing
this, they can save their extravagance and will bring newer product in the existing market.
Strategic Decisions at SBU Level:
Porter’s Generic Strategies:
According to Porter’s generic strategies, Victoria’s Secret uses the narrow Focused
Differentiation strategy which means it offers significant niche products for which a premium
price is charged due to the uniqueness of the brand image. Best product to the particular buyer
group.
For entering into Bangladesh market, Victoria’s Secret will follow the same focused
differentiation strategy with the offerings of unique underwear, women’s inner clothing, and
lingerie. As a well-known brand like Victoria’s Secret, people will be ready to pay a premium
price which is obviously represents a higher price than those of competitors here like Valancia’s
Secret, Sweet Dreams, Love Bite BD, Secret Lookz Ltd., Apex Lingerie Ltd. , Posh ‘Dazzle and

Page | 5

many more. The company emphasis on specialty of products that will easily differentiates from
the competitors.
However this focused differentiation strategy extends to other areas of the business as Victoria’s
Secret maintain a sustainable and responsible sourcing policy to ensure the superior quality over
the products that its competitors are offering.
As customers are paying a premium price the product should be always updated and unique like
the other countries, who always giving customers a better service. Maintaining product quality is
also important for the Victoria’s Secret because the images they create to the customer are very
precious for the company.
So the company like Victoria’s Secret always has to look after the customer need and
preferences. And make the strong supply chain so that they can be aware of the resources and
capabilities through which it can deliver the unique products to the customers.
Bowman’s Strategy Clock:

Focus Differentiation: Victoria’s Secret can use the focus differentiation strategy as they
provide the most niche market to the customer. We know Victoria’s Secret is very well known
brand and it contains a high perceived value in the market. This is advantage for Victoria’s
Secret that they can separate themselves from competition as well as they would earn a high

Page | 6

margin. Victoria’s Secret has that brand image by which they are bound to maintain high product
quality which they have already provided worldwide. Victoria’s Secret has a very strong brand
value that customer willing to pay premium prices for the best quality products.
Strategic decision at functional level:
Ansoff’s Matrix Strategies:
1. Penetration Strategy:
We will be promoting the brand "Victoria’s Secret" through social media marketing. We will be
using Instagram and Snapchat etc. We will also make some promotional activities through the
very specific target of Facebook. Beauty salon, Spa, Gym etc. are the most prominent sector
through which we will promote our products.
2. Product Development:
• At first we will be launching the women clothing- Lingerie.
• Next we will be introducing Victoria’s Secret's signature perfume, bag, purse, makeup products
for women.
3. Market Development:
We will expand to new locations in Dhaka like Dhanmnodi, Mirpur and Uttara.
Market Position:
Victoria’s Secret will enter the market as a “Market Nicher”. Victoria’s Secret would serve a
very narrow market but they will do it so efficiently and effectively that their customers won’t
face any problem. Therefore they can use the following strategy:
1. Serving one type of end users: Victoria’s Secret would serve the customer in BD who mostly
spend a chunk of money on comfortable inners and want exclusive products which they cannot
find anywhere else.

Page | 7

2. Flanking Attack: Victoria’s Secret can also use the flanking attack strategy which market
challengers use to their advantages. Some of them are-
– In Bangladesh, top lingerie brands do not offer a satisfactory online customer experience. They
are not up to date with their online pages; as a result customer faces difficulties in finding
products in showroom. So we plan to update our products regularly for customers help.
– Most of the lingerie brands in Bangladesh lack to offer trendy and comfortable products for
women. Victoria’s Secret will bring innovation designs, trendy and comfortable products for the
customers.
3. Guerilla Attack: Intensive promotion on Social media like Instagram, Users generated
marketing on YouTube would be done in order to attack competitors.
Segmentation Strategies of Victoria’s Secret in Bangladesh:
• Geographic:
Victoria’s Secret is an American brand which has multiple outlets around 43 counties of the
world. Though it is very powerful brand, it will take some time to explore and catch customers’
attention because it will target a very niche market of a huge population. As it’s a luxury product
so the outlet must be located in posh areas of Bangladesh. So Victoria’s Secret will be located in
Pink City, Gulshan 1. If Victoria’s Secret would be successful, we will start multiple outlets in
Dhaka city. A large number of corporate offices of valuable brands and international customers
prevail in these sectors that already have acquaintance with the brand. Establishing in these
sectors will enable in gaining control over these markets.
• Demographic:
Victoria’s Secret will use a series of demographic variables for dividing its potential customers:
Age: Victoria’s Secret basically targets the younger women who want to feel comfortable,
confident, sexy and beautiful. Mainly they will be targeting the age group of 15-35. Once the
business gets stable in Bangladesh, it will launch undergarments and lingerie especially for the
teenage girls.

Page | 8

Income: Victoria’s Secret will offer a premium price as it has a high brand value. So the higher
economic class and higher middle people will be the targeted customer of Victoria’s Secret.
Occupation: Mainly Top level corporate officer (women), Model, Fashion designer, Students
etc.
Religion: Bangladesh is a Muslim majority country and that's why Victoria’s Secret will never
offer any product that hurts religious sentiments.
Social class: Obviously Victoria’s Secret will offer products that are for a certain social class
people.
• Psychographic:
Victoria’s Secret will do the psychographic segmentation by different lifestyle, personality and
core value of different customers. We will also provide the products and offers according to
VALS Framework:
VALS Framework:
Innovators: Victoria’s Secret has a high brand value so that they charge premium price to the
customers. These kinds of products are more preferable to the premium customers. This is
because of the affordability factors related to it. In the Bangladeshi market, only the premium
customers can afford Victoria’s Secret products. So Victoria’s Secret would be the perfect place
to shop for innovators.
Experiencer: Victoria’s Secret will focus on this group of people because they likely spend a
high portion of their income on fashion. Victoria’s Secret provide sports lingerie like sports bra,
sweat control bra etc. to this group of customers.
Striver: These people are very much trendy and want to keep up modern fashion. Victoria’s
Secret will keep up to date about the upcoming products to this group of customer.

Page | 9

• Behavioral:
Brand Loyalty: Customers are the main stakeholders of the business, so the customers will get
lots of significance from Victoria’s Secret. In today world brand instinct and brand loyalty is
hard to find in the people. So we will try to make sure that our targeted customers won’t sift to
our competitors. We will do it by giving customers various kinds of privilege like loyalty cards.
Benefit: Victoria’s Secret will provide the products to the targeted customers with the proper
benefits.
Targeting strategies for Victoria’s Secret Brand in Bangladesh:
Target market of Victoria’s Secret will be profitable for the brand. In our country there is no
other brands those provide different size of undergarments which do not fit properly to the
women and most of the time other brands do not provide good quality of fabrics. We will
provide our products to those people who want the perfect size undergarments and lingerie which
fits them properly. So these customers are ready to pay the premium price for their comfort. As
Victoria’s Secret's will charge a higher price relatively than its competitors, upper and upper-
middle class women will be the target market.
Kotler’s Targeting Strategy:
As Victoria’s Secret will launch premium products for a narrow market, they will follow the
Kotler’s concentrated strategy.
Derek’s Targeting Strategy:
Victoria’s Secret will be following under market specialization strategy as because initially
Victoria’s Secret will serve different types of undergarments and lingerie only for upper class
and upper-middle class women.

Page | 10

Point of Differentiation (POD) of Victoria’s Secret:
Premium price: As Victoria’s Secret provide the high quality products, so they will charge
premium price on the customer. For maintaining global brand image Victoria’s Secret cannot
compromise the product quality and this is the reason Victoria’s Secret will different from
competitor.
Desirable to customer: Victoria’s Secret provide customers the perfect size and comfortable
product. We will also provide the unique design and stylish products which are used by
celebrities. This is the reason Victoria’s Secret will be unique from its competitor. Victoria’s
Secret is already an established brand in other countries so customers are already aware of the
brand and they can differentiate the brand image of this company.
Deliverable by the company: Victoria’s Secret will be able to provide the promising products to
the customers. Victoria’s Secret has a stable performance since they gained the brand image,
which is indicating that they will not break the customer’ expectations.
Differentiable from the Competitors: Victoria’s Secret is totally different from its competitor
by unique business strategies. They offer various designer undergarments and lingerie items and
they do not hold their stocks for a long time period. They bring up to date products to their retail
outlets and they always offer the fresh products to their customers.
Point of Parity (POP) of Victoria’s Secret:
Women inner wearing: The point of parity of Victoria’s Secret and other competitors is to
provide the women undergarments and lingerie.
Retail Outlet Ambience: Victoria’s Secret will offer a good-looking and charming environment
to their customers where customer will be interested to shop for a long time. We will also
provide security to the customers inside the outlet so that customer can enjoy a joyful shopping
in a secure place. We also provide the air conditioned and trail facilities to our respective
customers.

Page | 11

Positioning
Victoria’s Secret is a famous brand by worldwide for its premium product quality and
exclusiveness. Also it is one of the leading brands in its industry. The brand has a clear
perceptual position on customers mind that Victoria’s Secret always provide best quality
product. So if the brand can keep this brand image in Bangladesh they will be enjoy a
competitive advantage in our country because in Bangladesh there is no brand who has as strong
brand image as Victoria’s Secret. Thus the brand can be the first choice on its customers mind by
offering them stylish, comfortable and quality full product. It also helps the brand to enjoy
consumer franchise in Bangladesh as they will be the first choice on consumers mind.
So the positioning statement of Victoria’s Secret will be-
“Our brand is for those women who always want to feel young, sexy, glamorous and
sophisticated. We always provide well designed product that will be stylish and also comfortable
for you. It’s our promise to you that we will always provide you the premium quality product
that you won’t get from anywhere. By using our product you will feel superior as you are using
the exclusive products that are used by supermodels.”
Brand spectrum
The parent brand of Victoria’s Secret is L Brand, Inc. (Limited Brand, Inc.). It is an American
fashion retailer and it’s headquarter is in Columbus, Ohio. This brand has several subsidiaries
brand in its portfolio and Victoria’s Secret is one of them. So our brand would be fall under
“House of brand” in brand relationship spectrum. Also it would be fall under “not connected
category” of House of brand because Victoria’s Secret has its own identity and it is not directly
connected with its parent brand.
As our brand fall under the not connected category of House of brand we will enjoy some
benefits in case of positioning. Victoria’s Secret can avoid irrelevant brand association with other
sub brands of L brand. Also we can introduce new offerings with new types of benefits. (L
Brands, N.D.)

Page | 12

The Brand Wheel
Key reward:
Our company’s key reward will be the exclusive design and premium quality product. We will
always ensure the premium quality of our product and never decline the product quality.
Brand personality:
The brand personality of our brand would be sexy, glamorous and sophisticated. The product of
Victoria’s Secret is especially for the upper class female customers. So when someone thinks
about the brand personality of Victoria’s Secret the personality come to their mind is a sexy,
confident, mysterious and glamorous angel. (Victoria’s Secret Brand Personality, 2014)
Values:
Victoria’s Secret is engaged in several CSR activities all over the world as part of its parent
brand (L Brand). They perform their CSR activities among four major areas-
1. Environmental- Victoria’s Secret conducts their business in an environmentally
responsible way and try to do less hamper on environment. They also work for saving
natural resources. “The Detox Campaign” which is signed by Victoria’s Secret. The
purpose of this campaign is eliminating all hazardous chemical from their supply chain
and product by 2020. (Inside Victoria’s Secret, N.D.)
2. Community- They work for bringing positive changes in their community, social welfare
and also for global community. They do several charity shows and charitable donation
among worldwide. Their “Pelotonia Event” which mission is raising fund for life-saving
cancer research. (Inside Victoria’s Secret, N.D.)
3. Inclusion- They organize several fashion shows and assign supermodels but their main
focus is fulfilling customers’ expectation through quality full products and services.
(Inside Victoria’s Secret, N.D.)
4. Labor practices and product information- They conduct their business by following
ethical standards. Their fundamental value is honesty, integrity and fair treatment with
customers, suppliers, and companions. (Inside Victoria’s Secret, N.D.)

Page | 13

Victoria’s Secret will do several CSR activities in Bangladesh as they do worldwide. Our plan is
to do campaign for the welfare of Acid Burnt women and deprived women and children. We also
do charitable donation for then.
Benefit:
The benefits of our products for which customers will buy our product are exclusive design and
premium quality lingerie, we will use cotton which will be very comfortable and different sizes
will be available in our outlet. At the same time our product will be comfortable, fashionable and
customers will be feel like they are become an angel when they using our product because of our
brand personality. Customers will experience a luxurious feeling when they do shopping from
our outlet.
Features:
We will give “Angel Credit Card” to our regular and loyal customer. This card is used by
Victoria’s Secret for its regular customers where we reward them for their purchase (reward
them for every 250 points. Here $1 spent= 1 point), if they earn more than 500 points they will
become an Angel VIP and if earn 1000 points they will get Angel Forever Card which is the
most exclusive card for Victoria’s Secret customers,. Also we will give them birthday gifts, and
several discounts occasionally. (The Angel Card, N.D.)
Converting clients into supporters:
Clients are basically the regular customers of Victoria’s Secret but they are not the loyal
customers. For any brand customers loyalty is very important and Victoria’s Secret can get loyal
customers if they can convert their clients into supporters. To do this they will follow some
strategies-
Premiums: We will provide some small gifts for our regular customers. We will provide them
surprise gifts on their birthday or weeding. When they get such surprise gifts on the special
occasions of their life it will be very precious for them and we can build an emotional attachment
with our customers. These gifts will have low unit cost but these will work very worthy for us in
case of making loyal customers.

Page | 14

Price-offs: We will provide them several discounts and offers on different occasions. In
different seasons such as Eid, Puja, Pahela Baishak we will give price-off offers.
Coupons: We will give coupons or tokens on every large purchase. Also we give them another
benefit which is known as “Angel credit card”. The customers who have this card always receive
rewards for large purchase.
Feedback: We always take feedback from our beloved customers and try to improve our
product according to their demands.
Contests: We will arrange several contests on our social media pages in different occasions
and invite the member of “Angel credit card” to join those contests and will provide gifts for our
lucky winners.
INNOVATION STRATEGY
Victoria’s Secret will adopt different types of innovation strategy and those are discussed below:
Addition to Existing Lines: Victoria’s Secret will add some new product in the existing
product line. This will completely depending on the high demand on some specific products.
New Product Line: When we will reach at the growth stage, we will bring some other
Victoria’s Secret signature products (e.g. perfume, bag, purse, makeup products etc.). This new
products will add more value to the brand.
To satisfy our targeted customers we need to follow this innovation strategy properly and
hopefully we will be able to meet customers’ needs and want.
Product and Branding Strategy of Victoria’s Secret:
Product line: We are just launching two product categories for Victoria Secret
1. Lingerie: Under this product category there are 5 product lines we are launching. They are:
? Slips
? Babydolls
? Teddies ; Bodysuits
? Kimonos ; Robes

Page | 15

? Corsets ; Bustiers
2. Women Undergarments: Under this product category there are 3 product lines we are
launching. They are:
? Bras
? Panties
? Sleep
Product line stretching:
Victoria Secret has a wide number of extensions. Yes, we will be using the line stretching format
in the future, but not at this very moment. Now we will only be launching the 2-product line
stated above Lingerie ; Women Undergarments. We are launching just a few selected products
under these 2-product categories. In future by seeing or observing how the market reacts to the
launched products we will add products under the same category that are closely related for
performing similar function.
We will be using the two stretches Method. In this method we will be adding products in two-
way direction. Like for now we are targeting the upper class and upper middle-class women.
Gradually we will be adding the premium segment and the Economy segment for capturing the
market more widely in other words for enlarging the target market.
Brand Extension:
We will be adding Signature Perfume, Bag, Purse, Makeup products for women.
Brand Elements:
The Brand Elements we are going to focus most on are:
1. Packaging: The unique Packaging of the products of Victoria secret will be the main
brand element. Because the packaging has memorability, meaningfulness to the
customer, likeability, adaptability to the change in environment, protectable for the
product from any damages.

Page | 16

2. Brand Name: “Victoria Secret” is a renowned Brand name all over the world. Though
Bangladesh still not has any official outlets of Victoria Secret but the brand name is
popular/ well known here. That’s why this brand name will be a valuable brand element.
3. Logo: The logo of Victoria Secret is also quite popular to the market. That’s why it is
going to be another major brand element for us for launching the products of Victoria
Secret in Bangladesh.
Communication objective:
To build brand knowledge:
In marketing, measure of how well known a brand, firm, or product is. Companies usually set a
target for the degree of awareness they intend to achieve, and then plan a promotional campaign
to reach that target. Victoria’s Secret is launching for the first time in Bangladesh, so an
awareness of the brand and its products needs to reach people. As we are not going to sell to
mass market, this awareness and knowledge will be mostly applicable for our target market.
To encourage action/purchase intention:
A key communication objective is to motivate customers to buy. This is normally done through
persuasive advertising, which involves emphasis of your superior benefits to the user, usually
relative to competitors. It is critical to strike a chord with the underlying need or want that
triggers a customer to act. The products that Victoria’s Secret offers are something different than
what the Bangladeshi consumers are used to. Our objective here is to appeal to the consumers
and create a want for our products.
To create category need:
This communication objective is to create demand for the product category. As the products
provided by Victoria’s Secret are not day to day essentials, we will need to create a category
demand of our product line. For the first time a renowned company is launching high end
lingerie in Bangladeshi market, which the consumer segment is not used to getting. A premium
product means you have to spend a premium price for it. As Bangladesh prospers financially, we
have huge potential market for our premium lingerie line.

Page | 17

Message Strategy, execution and source
For the message we have created a poster featuring Jannatul Ferdous Peya, who is a top model
from Bangladesh. We have chosen to avoid foreign models to make it more relatable to our
customers. As the product is already foreign a local face will help to relate more. This will work
as our in-shop poster.
Message strategy:
Our message strategy will have Affective and Conative element in it. A simple poster yet it will
evoke a sense of boldness and empowerment in the minds of our customers. This will be in term
trigger a response of some sort of action. The action is to purchase the product make themselves
relatable to the poster. Thus will fulfilling both the elements of the message strategy.
Message execution:
For our execution style we have chosen Fantasy and testimonial evidence. The fantasy part will
have greater influence. Victoria’s Secret in international market uses the term Victoria's Secret
Angels for their models. Our model will also adorn a Victoria’s product but we have left the term
‘angel’ for now. The thinking here is, a model in scantily clad lingerie is already a fantasy for the
conservative mind set of our country.
Jannatul Ferdous Peya was one of the very first supermodel of the country walking the ramp in a
bikini. So, this makes her the perfect for inducing testimonial evidence in the minds of our
consumers. Her image will create a sense of trust.
Message source:
The Credibility of the spokesperson affects receiver’s acceptance of the spokesperson and
message. A credible source is believable. Our spokesperson has all the five parameters present in
her, but her key strengths will be these three attributes: Attractiveness, Likeability and
Expertise.
? Attractiveness: As a top supermodel she has proven herself with physical attractiveness,
she also has suave and classy personality.

Page | 18

? Likeability: She has great popularity among our target segment, due to her achievements
and being a trend setter.
? Expertise: lingerie, for a conservative country like ours is very new. But for her
experience in working in the international modeling industry, Peya has certain expertise
when it comes to lingerie and swimwear.

Promotional Tools:
Advertising:
For our promotional tool we have chosen Advertising, as this is fitting for our product
considering varios aspects. As the products of Victoria’s Secret are sensual in nature, using
mainstream media to advertise will not be viable. We will be using ATL communication but on a
limited scale. For advertising we will use Facebook with specific target reach, Instagram,
Snapchat. Also we will advertise physically is high end beauty salons, spa, Women’s Gym. This
will be part of our in-store advertising campaign.
We will also try to reach the targeted consumer segment using fashion magazines such as,
Lifestyle magazine, ICE Today, Canvas magazine. Print ad, posters, motion posters, videos are
some of the tools we will be using for advertisements.

Page | 19

Page | 20

Page | 21

Conclusion
Victoria’s secret is one of the most popular lingerie brand in the world and it will be our goal to
maintain the same level of popularity in Bangladesh market even in a niche scale. We will try to
follow all our marketing strategies strongly. Our vision is to make Victoria’s Secret a synonym
for fashion and sensuousness in Bangladesh fashion industry. To uphold what Victoria’s Secret
stand for globally in the local market.

Page | 22

Bibliography
Trading Economic,(2018,April) “Bangladesh Disposal Personal income” Retrieved April 15,
from http://tradingeconomics.com/bangladesh/disposal-personal-income.
Thomas Bush,(2016,July 14) “Legal factors affecting business” Retrieved April 15, http://legal-
factors-affecting-business.
Victoria’s Secret Brand Personality. (2014, April 4). Retrieved from
https://victoriasecretfinal.weebly.com/victorias-secret-brand-personality
The Angel Card. (N.D.). Retrieved from https://www.victoriassecret.com/angel-card
Inside Victoria’s Secret. (N.D.). Corporate social responsibility. Retrieved from
CORPORATE SOCIAL RESPONSIBILITY
L Brands. (N.D.). Retrieved from https://www.lb.com/

Post Author: admin

x

Hi!
I'm Chloe

Would you like to get a custom essay? How about receiving a customized one?

Check it out
x

Hi!
I'm Ted!

Would you like to get a custom essay? How about receiving a customized one?

Check it out