Chief Marketing Officer Essay
As the Chief Marketing Officer of the Victoria’s Secret brand, there are a number of different countries in different parts of the globe that I would consider good options for the Victoria’s Secret brand. First, allow me to preemptively state that in all situations I am speaking only of the larger metropolitan areas, and not in the rural areas or medium-sized cities.
The start of this marketing campaign and launching the brand would occur only in the largest cities, giving it a higher chance of success internationally and also adding to the appeal of being “hard-to-get” (following the suit of other major designers that only open stores in the trendiest, high-profile cities which increases demand due to the perception of exclusivity). One market I would aggressively pursue is the untapped European market, the fashion hub of the rest of the world.
In a general sense, I believe that European countries would be ideal for the Victoria’s Secret brand because this brand has very much in common with European designs and fashion trends, borrowing heavily from their European counterparts as well as offering a great deal of European designers exclusively through their brand (such as Chantall Thomas, a well-known Parisian lingerie designer). Victoria’s
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The European market has built-in success; it is almost ridiculous that this source has not been tapped yet. All that being said, the specific countries I would target are France, Germany, Italy, and Spain. In choosing these countries, I took a number of factors into consideration. I looked at economic strength, percentage of middle-higher class to lower-class, as well as their general positioning in the fashion industry—which cities would make good targets for launching an internationally recognizable fashion-forward brand to a population that hasn’t yet experienced it.
The best cities to do this in are the cities whose names are synonymous with cutting-edge, exclusive, international fashion (high-end, high-profile, high-demand). Immediately the cities that come to mind are Paris, Milan, and Madrid, the three biggest fashion capitals in the world. In these cities, the customers are already there, and they are there specifically for the hottest new fashions. All the Victoria’s Secret brand has to do to attract clients in these cities is be there.
I also looked at economic prosperity because lingerie is a luxury item, it is not a necessity. With prices for panties averaging $8 per pair and bras about $35 each (for their basic styles, with the majority of stores focusing heavily on specialty items as opposed to basic, plain styles), the Victoria’s Secret brand does not necessarily appeal to consumers of all socio-economic classes. The European launch would have to occur not only in cities with a large fashion draw, but also in cities where there is economic prosperity. Hence the reason I also chose Germany.
I would specifically market Berlin and Munich, which are currently know for their “new” culture and youthfulness, which is certainly the correct audience for the Victoria’s Secret brand (lace panties and bras with rhinestones don’t tend to appeal to the geriatric set). Germany is a highly economically prosperous country, with individual large cities thriving in their own individual ways (culturally, artistically, etc. ). These cities also have a larger concentration of young people, and the majority of German citizens are middle class.