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In: Business and Management

Submitted By barbaraboller
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arket:
Victoria’s Secret is a retail brand product of lingerie, clothes and beauty products, which is owned by the Limited Brands Company. It has thousands of retail stores opened in the United States and few in Canada. The Products are available through the retail stores, catalogue and online business. Such fast growing market was established by Roy Raymond in San Francisco during the 1970s. Raymond went beyond from just providing the traditional white cotton piece for underwear that sold in department stores, because he offered different colours, patterns and style that created sexiness. Such sexiness is created by combining European elegance and luxury.
A market is defined as the set of actual and potential buyers of a product or service (reference). The current market of Victoria’s Secret consists of woman ranging from different ages, especially the younger women age early 20s to mid-30s will buy and prefer to wear luxuries lingerie in order to feel sexy and impress their partners. Other potential buyers are teenage girls going through puberty (age 13+), because they are becoming more aware of their changing body and feeling more mature. Also, some women would buy other type of products beside the lingerie, such as the Pink product line of clothing or the beauty products. In countries such as Canada and United States, the culture is so diverse that the market consists of different ethnic groups. Other buyers are men who would give gifts to their girlfriend or wife.
Such market of actual and potential buyers take place in retail stores opened across United States, Canada and internationally. There are 1000s of store opened in United States and around 23 stores in Canada. Recently, some stores opened internationally, such as United Arab Emirate and Dominican Republic. Customers are able to browse and purchase from Victoria’s Secret website, which is internationally accessible. Customers can use catalogues to purchase by ordering one from the official...
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