Victoria’s Secret
This brand of lingerie is one of the most famous and
prestigious in the world.
It was created by a young American businessman who
managed to take advantage of his shyness. He decided to make a man feel
comfortable, while accompanying his girlfriend to lingerie shopping. He
invented and introduced the policies which helped to facilitate the purchase of
that type of product without intimidation. Then in 1977 he opened his first
store in San Francisco.
The key idea was to sell the lingerie through the
catalogs. Some years later the company started to grow after having been
acquired by “The Limited” company. Its experts had a clear idea of how to
expand the business throughout the United States. So they opened some stores
and added some new lines of business such as shoes, accessories and cosmetics.
In the 1990s it was considered to be one of the most
important companies in America which produces lingerie. From that time, the
management team decided to hire professional models for advertising (the models
are known as the angels of Victoria’s Secret). This idea was well received and
some years later the first runway show took place. The success of the show was
so outstanding that between 1999 and 2000 it became available via their
website. After repeated success, the company negotiated with the ABC TV in
order to show it worldwide and to reach a wide audience.
They offer the aspirational products to achieve the
company’s development and expansion so the top models play a very important
role in the every year shows. This allows them to raise the prices of their
goods and differentiate themselves from competitors. Actually, if Victoria’s
Secret lowers the prices it would sell even less. How do they do that? It turns
out that making the price irrelevant gives more value to sensations. Few brands
like Victoria’s Secret and Starbucks are able to increase the prices on their
goods and make people feel happy paying for them.
Another important point of success are the complementary
products, you can find in the stores (shoes, pajamas, cosmetics and perfume).
Surely they have been able to manage a good strategic
plan and now they do not collaborate only with the American market but they are
also pushing their way into the European market as well. If they keep carrying
on their business policy and marketing strategies they undoubtedly will achieve
even more success.
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