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Unformatted text preview: ---------------------------------------This essay was downloaded fromCheatHouse.com (c) Gradua Networks 1995-2007.More essays, papers, reports, study notes and more can always be found at:- http://www.CheatHouse.com ----------------------------------------Final Marketing PlanMarketing is a crucial part of any new product line. A well researched, innovative marketing plan is a must when planning a successful product launch. This final marketing plan for Victoria's Secret Lil' Devil's line of men's-wear incorporates all the necessary steps involved in a successful marketing plan and product launch.Organizational OverviewVictoria's Secret is the leading specialty retailer of lingerie, operating more than 1,000 stores across the United States. Part of the larger organization Limited Brands, which is based out of Columbus Ohio, has built a superior form of brand recognition. Victoria's Secret has helped, perhaps more than any other brand, attract attention to the lingerie industry (White, 2004, p.1). The brand Victoria's Secret virtually monopolizes the lingerie business in malls all across the United States.Roy Raymond established Victoria's Secret in San Francisco during the early 1970's. The concept was to establish a cozy, inviting atmosphere similar to that of a Victorian boudoir (White, 2004, p.1). Roy's Victoria's Secret, consisting of three stores and a catalog business, was acquired by Limited Brands, among some controversy, in 1982. Many incorrectly believe that Victoria's Secret was of British heritage, an image which some say was perpetuated by its parent company (White, p.1).Currently, Victoria's Secret offers a large assortment of products that are not only lingerie based. In the store part of the organization, there are also beauty and fragrance products that include cosmetics and skin care. In the Victoria's Secret catalog and Web, the assortment varies even further with lingerie, fragrance and beauty, swimwear, apparel and shoes. Within the Victoria's Secret brand, there are sub-brands or collections. These sub-brands have also built recognition. The sub-brands are Pink, Very Sexy, Body by Victoria and Angels. These sub-brands have their own identity but offer and deliver quality, fashion and sexy that the mega-brand is known for.Much of Victoria's Secret's success is attributed to Grace Nichols. Nichols joined Victoria's Secret in 1986 as vice president, general merchandise manager. In 1988, she was promoted to executive vice president. In 1991, Nichols was named President and CEO of Victoria's Secret. Under Nichol's leadership, Victoria's Secret has become one of the top 10 recognized brands in the world and the leading specialty retailer of lingerie (White, 2004, p.1). Currently, Nichols is part of a co-leadership model and shares her position with Mark Weikel. Both are considered Presidents of Victoria's Secret, however, Nichols specializes in the merchandise piece and Weikel in the operations. The mission statement of Limited Brands, Victoria's Secret parent company, sums up the goals and focus of the company. "Limited Brands is committed to Brands, Victoria's Secret parent company, sums up the goals and focus of the company....
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- Spring '10