VICTORIA'S SECRET BACKGROUND INFORMATION

VICTORIA'S SECRET BACKGROUND INFORMATION:

Victoria's Secret was founded by Roy Raymond, and his wife Gaye Raymond, in San Francisco, California, on June 12, 1977. In 1977, Raymond borrowed $40,000 from his parents and $40,000 from a bank to establish Victoria's Secret: a store in which men could feel comfortable buying lingerie. After borrowing money from his in-laws and from a bank, he established Victoria's Secret, which was named after the Queen because he imagined the stores looking like Victorian-era boudoirs, and wanted to evoke the sense of Victorian sophistication and propriety, while eluding to the 'secret' underneath the clothes.

When the brand was founded in 1977, the reason it began was because Roy Raymond wanted to buy his wife sexy lingerie as a gift, but didn't want to come across suspicious buying women's underwear. Raymond then had the ingenious idea to sound a company that would facilitate shopping for underwear. He wanted it to be an exciting process that would make men feel comfortable, not perverted.

Victoria's Secret's beginnings highlight an issue: the company was selling something geared towards men rather than women. A peek at a 1979 catalog shows women sprawled out in provocative positions. The birth control pill hit the market in the 60's a few years prior to Victoria's Secret being founded and where the sex revolution for women had just broken ground. This then made sexy lingerie an even bigger trend and therefore resulted in the company becoming more and more successful.

References:

1. https://en.wikipedia.org/wiki/Victoria%27s_Secret
2. https://www.businessinsider.com/victorias-secrets-crazy-history-2015-7?r=US&IR=T

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FINAL BRAND POSITIONING MAP

Victoria’s Secret’s top competitors as of January 2019 are Calvin Klein, Ralph Lauren and Donna Karan New York, and all three just like Victoria’s Secret, work in the Systems Software Industry, which is a type of computer programmer that is used to run a computer’s applications. In addition, as found in some primary research that has been conducted of an Instagram Poll. There are also many other brands that are competitors of Victoria’s Secret. For example, Ann Summers, Boux Avenue, Primark and H&M. There are a large amount of competitors that consumers would lean towards rather than Victoria’s Secret because they are cheaper, better quality and have better ethics/morals and therefore customers have more respect for those brands. Even though Victoria’s Secret is a successful business, alternative brands have many features buyers worship that Victoria’s Secret do not have, resulting in a loss of sales for the company.

CURRENT SOCIAL MEDIA/INFLUENCER MARKETING/MARKETING MIX MOOD BOARD

This is my current social media/influencer marketing/marketing mix mood board that will be included within my report. Within this report I have included some influencers such as Gigi Hadid and Kendall Jenner as these are two of the key most famous influencers the brand uses to market the products. Twitter and Instagram are on the mood board as these are the brand's most used social media platforms and the American flag because the place the brand was founded in was San Francisco and it is an overall American brand. The Victoria's Secret Angels are also large influencers of the brand and the fashions shows are a large part of the promotion, the two go together well as a good brand strategy to get the products out in the open. Finally, the interior of the store is on this mood board as it gives the consumers a positive shopping experience which is another strategy to bring in business and also the catalogues etc are another way the brand promotes the products.

BRAND POSITIONING MAP

This is my brand positioning map/first attempt of the one I will be submitting; I may add/change some of the brand around once even more research has been conducted. The points I decided to go for in this brand positioning map is 'HIGH PRICE', 'LOW PRICE', 'HIGH QUALITY' AND 'LOW QUALITY'. I believe these are good points as it shows if the price of the products matches up to the quality and portrays whether you actually get for what you pay for. These brands on the map are all of different levels of quality and price and I have placed them according to where I believe they should go.

Fashion Management and Marketing One

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