Hi, need to submit a 4750 words essay on the topic Victoria Secret.Download file to see previous pages... Metrics 16 Outcome metric 16 Performance Metric 16 13. Leveraging its brick and mortar store 1

Hi, need to submit a 4750 words essay on the topic Victoria Secret.

Metrics 16 Outcome metric 16 Performance Metric 16 13. Leveraging its brick and mortar store 17 14. Changes expected after the 24 months launch period 17 Works Cited 19 1. Current target segment: The new brand for men The management of Victoria’s secret has come up with the strategy to expand their line of products into the men’s segment. They expect to be equally successful in this segment as they had been in the women’s segment. The underlying idea behind this expansion is to introduce color and style to men’s underwear thereby exploring a market which is tremendously underserved. The new line brand of products targeted towards men will add a new dimension to Victoria’s Secret range of products. Expanding into the new line of men’s undergarment will fetch consumer loyalty to Victoria’s from this segment of customers as well alongside the loyalty of their existing customers. The underlying strategy behind the company’s expansion into the men’s underwear line is to attract new customers. This strategy will help the business to diversify into a segment that is yet to be explored in the US and henceforth in the world. In addition to that, the expansion program will help Victoria’s secret to achieve a wider customer base thereby creating new sources of revenue stream. 2. Do men consider underwear purchases discretionary? According to a logic outlined by Alan Greenspan, men’s practice of buying underwear is thought to be a good indicator of discretionary spending (“What Is the Men's Underwear Index?”). The logic that Alan Greenspan stated is both elegant and simple. According to him, more often than not most of the guys have their drawer filled with fairly ratty underwear which they choose to wear until and unless the elastic has ruptured or the boxers are riddled with holes. Because of the fact that co workers and friends generally do not notice a guy’s undergarments, hence this frayed underwear often looks like a purchase made on discretionary basis. Men’s pattern of buying underwear is a crucial indicator of how the economy is performing. Whenever, men starts to apprehend that the economy is about to dip, they simply stop refilling their drawers with fresh undergarments. A perfect example to support this theory was when the economy started dipping the year 2008, annual sales of men’s underwear dropped by 12% (Trex “Boxers, Briefs or Loincloth? A Brief History of Men's Underwear”). In accordance with these recent theories, expanding into the men’s segment will prove to be a prospective decision for Victoria’s secret. The primary reason that can be attributed to this fact is that currently the United States economy is recovering at a steady pace. Moreover, not many undergarment brands exist in the country which produces men’s underwear suggesting that, this segment is highly unexplored. So, it is expected that the changing pattern in the performance of the United States economy will bring about a profound change in the way men buy their undergarments. Thus, an expansion in this division will prove to be a value maximizing decision for the company. If the products are well appreciated by customers and society, Victoria’s Secret has a possibility for extended growth. 3. Potential target market The potential target market is young and trendy men between the age group 15 and 45. As of now, in terms of geography, the chosen target market is USA.