environment of customers.

Dear reader,

Maby you are new here, maby you have been here before? Either way I will try my best to entertain you all with my blog about the Victoria's secret lingerie. A little recap: this blog is for a school assignment for marketing environment and I will be answering a couple of questions every week. So hold tight, get your fancy drink and put your bra straight, here is my blog for this week.

So first of all it would be rude to put all the consumers of Victoria’s secret in the same box. This because it is different from person to person how easily they are persuadable and if the social factors really has an influence on them. But after stating that, I will do my best to make some stereotypes about the consumers of Victoria’s secret for my assignment

Cultural factors: “Cultural factors are coming from the different components related to culture or cultural environment from which the consumer belongs.” (Perreau, 2013)

The cultural factors are different for every VS consumer, this is because there are stores all over the world, so there are a lot of different cultures involved. But if you look at what sells more per country, you will find that in Asia there will be selling more warm and bright colors, and in Europe there are more basic colors like black, white and red for an example.

Social factors: “social factors are among the factors influencing consumer behavior significantly. They fall into three categories: reference groups, family and social roles and status” (Perreau, 2013)

So for girls in collage there is always a girl more popular, more rich, more beautiful and so on. These girls who are more … than you always have an opinion about what you should and shouldn’t wear. So if they think you should wear VS instead of H&M, you probably will search online for VS rather than H&M. But if your role model or idol thinks you should but it at hunkemöller, you might go there instead of VS. But if you are from an very strong religious family, they will probably tell you that you can’t but it there, because it will be to provoking. This is of course why VS has their “body by Victoria” line for the cultural barriers. The “young and sexy styles” for all those collage girls, and all the other sexy lingerie for the role models.

Personal factors: “Decisions and buying are obviously also influenced by the characteristics of each consumer” (Perreau, 2013)

So if you are a size 0 you will choose another kind of lingerie, sleep wear of bikini than a size 10 of 12. This is why VS has bra’s up to DDD and panties up to size XL.

Some girls like sparkle, some like plane and some like something in the middle of these two. This is why VS has so many different models, styles and subcategories in their products. All these products are in different price ranges, so a lot of women can buy their product.

Psychological factors: “Among the factors influencing consumer behavior, psychological factors can be divided into 2 categories: motivation as well as learning.” (Perreau, 2013)

So the main reason why someone buys something is because they have a need for something new. They need to satisfy this, and will motivate them to buy this. Whether it is a need for something sexy for that special occasion or if it is a primary need because all their other stuff are broken. For both of these customers VS has the inventory to satisfy their needs. But they can also learn to buy something. If you bought your lingerie at Primark, and it broke after a short period of time, you will learn that Primark is not an store with good quality. You will learn to buy your Lingerie somewhere else. Although if you buy your lingerie al VS, and you notice how great their quality is, you learn that you can buy your product there more often.

Victoria's secret is for every age, I will explain this to you with the use of the family life cycle.

So in the family life cycle you have 5 main characters. You have a child, the child will become a teenager, the teenager will become an adult who will become a couple, this couple will grow old together and will have kids again somewhere along the way. So in this family cycle there are a couple of categories who would not buy Victoria’s secret lingerie, but underneath I summed up a couple who would.

Teenager: there is a sporty generation at the moment. The gym is more busy now a days

then it was in the past. This is why they picked the perfect moment to start their sport collection. Also are teenagers growing, and they need good lingerie with that so support their growth. This is why VS had firm products with great quality. They also have the PINK line special for the younger ones.

Young adult: As a young adult we are looking for connections, a special friend of a partner. At this age we want Sexy, we want that WauW factor, and we want to feel secure doing this. This is why VS has fashionable lingerie for every need. They have the comfortable ones, they have the see trough ones, and they have the ones you don’t really need a shirt for anymore. They have everything for you to flatter you guy or girl.

Adult: They have been through the teenage stage, and have successfully passed the young adult phase. They are now arrived at the age to be comfortable with being their self, and dressing like how they feel like it. If you want to wear something that nobody will see under that old shirt, or want something amazing to waken the flame you once had of still have. For all their needs VS had the solution, and perks of being an adult is that you have worked for a long time already, and probably have more to spend on your lingerie then when you were a young adult.

I bet you are wondering: but Renée what kind of consumor behavior will you most likely see in the VS shoppers? Well let me tell you, the most likely will be that consumers of Victoria’s secret will want something shiny and sexy, because that it what VS what to show the world. The Feminine and luxurious side of lingerie. They present them self like that in their market. If you go on the internet and search for VS, the first thing you will see are the newest items, they are see trough, they are colorful and they are revealing. You wouldn’t search for VS if you want plane HEMA bra’s or cheap Zeeman bra’s. You want to feel beautiful, you want to feel sexy, and you want to feel fashionable and if you want to feel like an ANGEL, you will go to www.victoriassecret.com

Last but not the least I made an attitude scale for my blog, with some questions how I can

find out your opinion about Victoria's secret lingerie. If you guys would take some time so

comment down below what you think about VS, and what your experiences are with this

brand I would be so grateful to you all.

Victoria’s Secret Lingerie	0	1	2	3	4	5
How much do you think that they fulfill the needs of their customers?
How originals do you think their product is?
How wide is the range of their product?
What do you think about their quality vs. quantity rate?
What do you think of their customer service?
How do you rate the Quality of VS?
How bad you want another VS lingerie set?

Rate this attitude scale, with 0 being horrible, and 5 being perfect.

Thanks again for reading everything, and I will see you guys next week!

Loves Renée

Bibliografie

Perreau, F. (2013, Novermber 28). 4-factors-influencing-consumer-behavior. Opgehaald van the consumer factor: http://theconsumerfactor.com/en/4-factors-influencing-consumer-behavior/

Victoria's secret. (2016, September 19). Opgehaald van Victoria's secret: https://www.victoriassecret.com/

competition and the competitive position of #VS

Hii guys, 

Nice to see you came back this week.

This week I had to answer  a couple of question about the mission statement of the company that I choose. #VS

For these questions I found that Victoria’s secret is owned by L brands, so their mission statement is also the mission statement of Victoria's secret.

The mission statement of L brands is to build a family of the world’s best fashion brands offering customer experience that drive long-term loyalty. This is obviously good for their shareholders. And they also want to do good. Good for communities, for the market and the environment.

Of cource every company has competition, but there are different kinds of competition. You 

generic competition, product form competition and brand competition.I made a little list of these competition forms and who are the compitition.

Generic competition: agent provocateur and their l’ agent, Primark, H&M, Hunkemoller

Product form competition: negative underwear, true&co anya lust,

Brand competition: aerie,  adore me, thirdlove, la perla

(Dishman, 2016)

So VS has a lot of competition but the competitive position of victoria's secret is pretty low because they own 40% of the huge apparel market. And apart from that they also have a product that no one else can offer because they have a world famous fashion show around it. No one has this in the same market as big as they have it. This makes their position very stable. Also are they very renewing, this means that they are constantly looking for new technology and marketing perspectives to enhance their products and their customer base.

Ansoff Matrix:

Most of all you see how Victoria’s secret is always busy with “product development”.  They also have a “market penetration” skill that everybody is familiar with.

Product development:

Every year they have the Victoria’s secret fashion show. Here they show the newest items of their collection, sometimes showing bra’s who are worth 2 MILLION dollars. They have the permanent theme: Angels. So al the models will be decorated with wings etc. These are things other brand don’t have. They are constantly developing their products, so they can keep impressing their customers. And basically every men and woman who watch their show from their sofa’s with a big bucket of ice/chips.
Bibliografie

Market penetration:

So when you sit on the sofa with you big bucket of ice/chips you see these pretty angels, but underneath everything they have lingerie. Pretty lingerie, shining lingerie, soft lingerie and colorful lingerie. But nothing the less still lingerie. Lingerie has always been part of our lives, so that isn’t something new or anything, but they do know how to sell it like it is something new, something we have never seen before. That is how they penetrate their own market.

References: 

Dishman, L. (2016, march 7). victorias secret competitors. Opgehaald van fortune: http://fortune.com/2016/03/07/victorias-secret-competitors/

marketing portaal. (2016, september 14). ansoff matrix. Opgehaald van modellen strategieen: https://www.marketingportaal.nl/modellen-strategieen/ansoff-matrix

Victoria's Angels and their history 1.1

Hey guys!

welcome on my blog. I made this blog because I have this school assignment for marketing

environment where you have to choose a brand and product so I chose: Victoria's Secret, Lingerie.

You maybe wonder why I chose this brand and product? Well let me tell you why!

I have chosen the Victoria’s Secret lingerie line. This is because there were a lot of typical manly brands and products like beer and stuff, and I wanted to add something very female to the list. I  also chose this brand because I really love their products and how they represent their business with one of the biggest fashion shows every year. And they are the largest American retailer of woman’s lingerie

What is not to love right?

Have you ever wondered who is producing this great company and if they are also owner of the brand name? Well let me tell you. Victoria's secret is wholly owned by L Brands. They were also previously known as Limited Brands Inc. and The Limited Inc. They hold a lot of brands like Victoria’s Secrets, Bath & Body Works and others.

So now a little bit about the history of #VS and their Angels. They were founded on June 12^th 1977, which means they are in business for 39 years. Their first store was in the Stanford Shopping Center in San Francisco, California. This company which has over a 1000 stores worldwide right now was all founded by a man. Yes the biggest lingerie brand of America started with the man: Roy Raymond. This because he was feeling embarrassed after he tried to buy lingerie for his wife in an public department store environment. He sold the company after 5 years (1982) to Leslie Wexner, who is the creator of The Limited, later known as L Brands. It then only held 6 stores and was sold for 1 million dollar. Little did Mr. Raymond know that his company would be worth a little more than ONE BILLION DOLLAR in only 8 years. The Limited changed the look of the store. They transformed from “more burlesque than main street” to a color and pattern combination and different styles that promised sexiness and luxury. It was the start of everything that we know now about the Angels of Victoria and the amazing secrets around their lingerie. Nowadays the company can say that they have 1017 company-owned stores and 18 independently owned stores. They are based in: U.S., Canada, UK, Mexico, Malaysia, Philippines, Chile, China, Israel, Austria, Ireland, Poland, Taiwan and Thailand. They expanded their marked over time with sleepwear, beauty products, PINK, music CD’s and swim wear.

As mentioned before they have expanded their marke a couple of times over the last years. Currently their site has the categories: Bra’s and Bralettes, panties, lingerie, sleep wear, beauty, swim wear, sport wear and lounge wear.

Under Bra’s and Bralettes they mean a top which functions as a bra (see picture 1)

With beauty they have the subcategories: Fragrance, mists, body care, travel and accessories, gift sets and Lip cosmetics.

I think Panties, Lingerie, sport wear, swim wear, lounge wear and sleep wear speaks for itself.

Well thanks for reading my blog and I will be back next week with a new blog.

Bibliografie

wikipedia. (2016, june 13). Roy Raymond. Opgehaald van wikipedia, the free encyclopedia: https://en.wikipedia.org/wiki/Roy_Raymond

wikipedia. (2016, august 26). Victoria's Secret. Opgehaald van wikipedia, the free encyclopedia: https://en.wikipedia.org/wiki/Victoria%27s_Secret