This paper examines the company Victoria Secrets, its goals and its strategic advantages in terms of the competition.
Written in 2006; 1,136 words; 2 sources; MLA; $ 39.95
Paper Summary:
In this paper the author thoroughly examines the profile and properties of the lingerie company Victoria Secrets. The author starts with a summary of the beginnings of Victoria Secrets. He tells us that its founder Roy Raymond could not find a present for his wife and saw an opening in the market. The author proceeds to expand on how the company grew and constantly changed its perspectives on the market, based on the acceptable fashions of each time period. The paper also looks at the marketing ploys of the company, from advertising through to store design, which has made it the most successful lingerie business there is today. Finally the author confirms Victoria Secrets success by stating it has given the customer a lifestyle which incorporates the product.
From the Paper:
"With the transformation of the business, its goals also changed. Working on the thought that while bought and wore underwear, they aspired to buy and wear lingerie, the first move was do away with Raymond's goal of having the stores' as some sort of shopping haven for male shoppers. Wexner, along with Senior Vice President, Dan Finkleman realized that while men gave lingerie as gifts, it was women who bought 90% of their own intimate apparel and therefore the company made female customers the sole focus of all its efforts. The main goal of the company in this respect was and is image. Dan McGinn aptly summarizes this and other goals in his case study of the company. He says, "It started with the name Victoria, which conjures up 19th-century England. To further emphasize the veneer of European luxury, catalogs listed the company's headquarters in London, even though it was really in Ohio. And the products themselves stood apart from traditional department store offerings." Another one of the company's major goals was to avoid mistakes made by other lingerie producers, particularly stories such as Frederick's of Hollywood."
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