Marketing Essentials: Victoria's Secret Company Analysis Report

This report provides a comprehensive analysis of Victoria's Secret's marketing strategies, delving into key aspects such as product development, pricing, distribution, and promotion. It examines the roles and responsibilities of the marketing function within the company, exploring the marketing environment and its impact on business decisions. The report also includes a comparison of the marketing mixes of Victoria's Secret and Calvin Klein, highlighting different tactics applied by each organization. Furthermore, it investigates the interrelationship between the marketing department and other functional units like finance, human resources, and research and development. The analysis covers both B2C marketing strategies and the application of the 7Ps of the marketing mix within the context of Victoria's Secret's operations. The report concludes with an overview of the company's marketing plan and its role in achieving predetermined sales, profit, and customer targets.

Marketing Essential.

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
PART A..................................................................................................................................1
PART B..................................................................................................................................6
1) Comparison of marketing mix...........................................................................................6
2) Different tactics applied by organization...........................................................................7
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Essential of marketing play crucial role in all organisation that helps to prepare effective
strategies for product development, pricing determination also decide designing, labelling and
branding of product and advertisement process so they can provide better goods and services to
their customer and generate profits ( Hair and et.al., 2015).
The present report based on Victoria secret company provide products like women's
clothing , underwear, footwear, beauty products etc. this report will include the key roles and
responsibilities of marketing function, marketing in environment of marketing. Marketing plays
significant role in all functional department and critical evaluate of marketing element. This
report includes comparison of marketing mix of two companies and effective tactics apply by
company for achieving the goals. This report also explaining about the effective strategies of
marking plan by using marketing mix.
LO 1
PART A
Definition and marketing concept
 Definition of marketing and nature of marketing: it is essential process that comprises
all activities that helps to reach product to final customer. It helps to identify customer
needs and accordingly manager prepare marketing plan for development product and also
used to determine suitable price.
 Marketing concept -It is the strategies that used to implement product for satisfy loyal
customer and profits maximization. Victoria secret company adopting various marketing
concept such as production concept, product concept, selling concept, marketing concept
and societal marketing concept that impact on overall activities of the company, so they
can easily achieve the goals and objectives. Secret company use advertisement and
promotional activities by email, television, newspaper etc. This company will be adopted
artificial intelligence for advertisement activities that helps in generating huge profits by
enhancing selling.
Roles of marketing
The structure and operation of marketing department
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Prepare marketing strategies- Marketing department set effective strategies for improving overall
performance that helps to achieve sales target in particular market sector. Victoria secret can
provide undergarments in wider graphical market (Baker, 2016).
Marketing research- Victoria company research department identify areas where they can
take competitor advantages and opportunities by understanding customer needs. Market research
helps to understand weakness of business and take action for protecting competitors.
Product development- Manager of the company made team that helps to develop new
product and improve existing one. Secret company develop new branded innerwear as per
customer preferences and demand. it helps to enhance selling and create brand image of the
company.
Sales coordination- It is essential role of marketing that helps to coordinate within sales
department which use to improve performance of sales and increase growth of the company.
effective coordination sales helps to achieve sales target that leads to profit maximisation.
Marketing plan - Manager prepare and implement marketing plan that helps to determine
objectives accomplishment with the time frame. it helps to achieve goals and objective by
providing better quality product at a reasonable price, so they can build image and increase
profitability.
Overview of marketing process
Marketing has significant roles and responsibility in Victoria secret company which use to
achieve predetermine targets like sales target, profit target, customer target. Ultimately company
can achieve goals and objective within a specific time period. there are many roles and
responsibilities in organisation these are -
Manage operations of business- Marketing manage operation work for smooth running of
business. marketing helps in increase selling that can helps to determine budget , flow of the cash
so operation work can be improve (Morgan and et. al., 2019). company can enhance efficiency ,
consistency and effectiveness with the help of proper operation work
Developing marketing plan - Marketing can determine customer needs and preference. Manager
can outline marketing plan for develop the new product or redesign the new product and also
understand the brand image needed in the future, so they can maximize the customer base and
increase selling and profitability.
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Marketing information system- marketing helps to provide internal and external records. This
information use to determine production level and cost of the product. Marketing information
system analysis, capture and distributes of marketing that helps to take decision-making process
for accomplish the goals.
Research and development - It is essential in marketing that helps to understand needs and
preference of customer. role of marketing helps to determine target segment and market .
Company timely provide their product in the market with the help of research department so
company can maximised the area of services and generate profits.
Utilisation of human resources - marketing department coordinate and communicate to all
department. marketing department responsibility is to communicate to all information for smooth
running of business which leads to profit maximisation.
Creating competitive advantage- Victoria secret company can take competitive advantage and
creating opportunities by marketing. Advertisement and promotion activities of marketing helps
to create opportunities. Company can enhance their brand image in the market by providing
quality and newly design of their product.
Victoria secret company adopt four key elements of marketing function such as product , place,
price and promotion which used to determine customers need and preferences and also helps to
determine price of product.
Product - Victoria secret company provide such product women clothing , underwear ,
lingerie, beauty product and footwear. Company have to improve quality of product because now
days mostly customer prefer branded product, so they have to use quality material for
manufacturing the cloths and undergarment that helps to enhance customer retention. Company
have to use various design in manufacturing the product so customer get lot of design according
to their preference and also use advance technology to produce the product and meet out the
customer demand that helps to improve efficiency of productivity and increase profitability.
Price- Manager of the company have to prepare strategies and effective utilization of
resources so cost can be minimized on each product. Company will use advance technology that
helps to reduce the cost. Company will provide quality product at a reasonable price. Victoria
company should adopt price strategies according to geographical area. Competition price
strategies adopt where competitors are high this situation company provide product at which
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price, so they can compete with competitors and generate profits but company also provide
product to rural area at a reasonable price that helps to increase customer base (Kasemsap, 2018).
Place- Victoria secret company should provide their product in all over the world, so they
can build their image and increase selling. Research and development department researches the
area which needs the product which can maximized profits of the company. Company deliver
product to rural area that helps to maximize customer base and increase profitability. Research
also define that place where need of marketing to create awareness so ales can be increase.
Promotion - Company should prepare effective and efficient strategies for advertising
and promoting the product. With the help of effective promotion company can achieve sales
target that leads to generating profitability and build image.
Different role of marketing within B2C and B2B
Marketing environment affect to business abilities and its function. Marketing play crucial role in
the marketing environment that helps to reduce losses due to occurrence of any circumstances.
Marketing have role and responsibilities in following environment-
Social environment- Marketing manager segregate their products according to customer age,
race, size and location wise. Manager identify populated and young people, so they can introduce
product. Manager identifies posh area so there company have to provide quality or branded
product with suitable price that helps in maximization of profits (Dąbrowska and Podmetina,
2018).
System environment - Manager identity those factor which influence by customer purchasing
power. Marketing prepare strategies which helps to reduce losses due to change in inflation rate ,
interest rate. Marketing manager continue analysis market trends and analysis market demand
then develop market plan for developing new product or re-innovate existing product. it also
helps to identify customer spending pattern and customer preference, so they can prepare plan
for achieving the goals.
Physical environment- Victoria secret company analysis the nature of environment it includes
climatic condition, pollution, environment changes. Marketing used to analysis customers needs
and preferences changes during the change in environment and calamities. For example - In
winter session marketing manager advertise of woollen cloth. Manager identifies all area weather
accordingly provide cloth, undergarments and other product.
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Technical environment- marketing use technology to encourage awareness among people. It is
essential for advertising of product. Company sent mail and messages related to product detail
with price. Marketing manager adopt innovative technology for produce new design product or
use for increase productivity. It helps to provide inner wear into the market so customer demand
can be meet at the time that helps to increase profitability. it is essential tool which increase
overall efficiency and create relationship with customers so company can take competition
advantage and reduce future treats (Dib, 2018)
Interrelationship of functional unit:
 Marketing as a business function
Marketing has significant roles and responsibility in Victoria secret company which use
to achieve predetermine targets like sales target, profit target, customer target. Ultimately
company can achieve goals and objective within a specific time period. Therefore, it plays an
effective role in order to establish the relationship between customer as well as organization
which are offer their products in a market. Such that through effective marketing, company will
also interact with customers and collect the effective feedback and then take action accordingly.
 Different roles of business unit and interrelation between dunctional unit and marketing
Communication and coordination of marketing department with other functional
department is essential because it helps to achieve goals and objective of the company. Company
functional departments are finance department, marketing department, human resource
department. Strong interrelation among all department helps to achieve goals and objective of the
company.
Marketing department with human resource department - Marketing department and
human resource department are interrelated with each other. Human resource department recruit
and select skill, knowledgable and experience people, so they can attract customer by
advertisement and promotion activities, and they can also deliver product at store that can helps
to meet out customer needs on the time of demand. If marketing department performs better than
it generate profits and employees gets high salary and extra benefits like bonus and incentives
that can boost morale and motivation of the employees. Communication and coordination
between both department which helps to increase profits and effectively human resource can be
utilized.
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Marketing department with finance department: finance department prepare
strategies and budget like sales budget, production budget and purchase and cash budget.
Marketing department will estimate amount to be spending advertisement and other activities.
Effective marketing helps to increase selling and generating profit that will improve cash flow
statement and financial statement that show financial position. if financial position is positive
that will increase market price per share and enhance shareholder value (Sulaiman and
Syahrivay, 2018).
Marketing department with research department: coordination with both department
helps to improve performance of the company. Research department identify customer needs and
preference, brand preference and geographical area. Effective coordination in both area helps to
increase profitability by providing quality product at the suitable price. Victoria secret company
can provide undergarment and clothing product to needed people.
PART B
1) Comparison of marketing mix
Marketing mix is the set of marketing tool which is use by all company to achieve the
goals and objectives, this includes 7 P's of marketing mix such as Products, price, place,
promotion, process, people and physical evidence are marketing mix.
Basis Victoria secret company Calvin Klein company
Product Company provide women's cloth,
lingerie, footwear, beauty product and
swimwear product with better quality
to their customers.
Calvin kelvin company provide lifestyle
accessories, home furnishing product,
perfumery and jewellery product.
Price Company uses seasonal pricing
strategy and prepare different price
strategies that depend upon collection
but price of the product is higher than
pink collection (Dib, 2018).
Price of this product is higher for middle
class and lower class people. this
company adopt target price strategies
that help to gain customer attention of
customer and making profits. Further it
uses competitive pricing strategy.
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Place It is an American designer and
manufacturing company. Total number
of location are 1017 and 18
independently owned store.
This company have strong international
presence. Recently it has flagship store
at Madison in New york. it has presence
21 countries apart from US.
Promotion Victoria secret company uses
traditional promotional strategy. They
can do promotion activities by
television, newspaper, magazine.
Company promote its product by using
traditional as well as modern form of
marketing tools such that television,
direct marketing and social media
marketing that helps to enhance selling.
process Company open several store over the
world and provide product over the
work and company charge shipping
charges on online provide product.
Company adopt distribution channel.
Company adopt distribution channel
producer-whole seller-retailer-customer.
This company provide product all over
the world.
people Victoria secret company have trained
staff, so they can give best services to
product and provide product on the
time of demand. Recently company
have large customer base because it is
leading company. Total 93600
employees engage with this company.
This company have high staff and
employees base. Total 5000 plus
number of employees engage with this
company and have large loyal customer
base.
Physical
evidence
Company adopt distribution channel to
reach product to their customer.
Company packaging and branding
attract to their customers.
Calvin Klein company provide product
to customer and adopt branding,
packaging and targeting that helps to
customer identify this product and loyal
customer created by company by
physical evidence.
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2) Different tactics applied by organization
Managing tactics is crucial part of marketing as it helps marketing team in boosting
promotional measures which helps in increasing sales (Baker, 2016). Tactics are the strategies
incorporated to grab attention of buyers. Further, marketing tactics of Victoria secret are focused
on specific brands which helps in focusing on each segment of firm.
 For increasing sales of Underwear’s marketing activities and tactics are based on
celebrity promotion which offers discount to few randomly selected buyers.
 Tactics of innerwear’s of Victoria secret comprise schemes like pack of 3 at discounted
rates like products are offered at little less price in comparison to actual price of brand.
 Victoria Secret focus on social media content of its Brand like Underwear’s in order to
protect cultural ideologies. In this focus of firm is on premium marketing content with the
help of infographic which helps in targeting needs and expectation of individual
shoppers. Using the online social media, the company also attract wide range of
customers towards them.
 The marketing tactics of organization also comprise in persons event and social media
promotion which helps in increasing traffic of buyers for one specific brand of firm.
These tactics aid the firm in increasing sales of specific products which ultimately helps
in creating brand awareness (Ismail, Nguyen and Melewar, 2018).
CONCLUSION
Above report summarized that marketing is essential that helps to prepare strategies and
marketing plan that helps to achieve goals and objective of the company. Marketing research,
sales coordination and product development are roles and responsibilities of marketing function.
Marketing roles and responsibilities like development marketing plan, utilization of resources
and effective operation work helps to achieve profitability target. This report also consulted that
marketing have also roles and responsibility in marketing environment. Marketing environment
include demographic, economic etc. Effective communication and co-ordination is essential for
achieving goals and objectives. It also explained about Victoria secret company should;d have
improved in product, price, place and promotion activities that helps to improve profitability.
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Company must adopt tactics for achieving the pre determine goals and sustainable growth of the
company.
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