This team set out to help Victoria’s Secret enter a new market. After careful analysis it seemed best for Victoria’s Secret to enter the Swedish market because it has a high potential for high quality underwear, and a relatively low rate of competition in the high quality market that Victoria’s Secret is focusing on.
Segmentation will be done on 5 different groups within Sweden: geographic, gender, age, behavioural and social class. After selecting four segmentation groups the team has decided to target individuals between the ages of 16-26 and 26-55, whom are working class individuals or supported by such. Furthermore Victoria’s Secret positions itself higher in the market than most of its competitors do, higher quality, higher service and higher price.
This team has set 5 strategic goals for Victoria’s Secret to attain over the first 5 years after entering the market:
10% market share within three years of entry into the Swedish high quality underwear market for women.
5% increase in brand recognition within the first year of entry into the Swedish high quality underwear market for women.
Increase shareholder value within three years of entry into the Swedish high quality underwear market for women.
Open a flagship store in Stockholm, with a yearly turnover that exceeds approximately €180,000.
Open extra stores in, Gothenburg, Malmö and Uppsala in the first 5 years after entering the Swedish market.
The marketing mix consists of the 4 P’s: Product, Price, Place and Promotion. Victoria’s Secret products will be sold against the same prices as they do around the globe. The promotion will be done mainly via social media and television, and Victoria’s Secret will also make use of their well-known angels. Victoria’s Secret will sell their products online and in stores, the online channel will generate the most sales so it is very important that this is run effectively and efficiently.