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Marketing Plan for Victoria's Secret - Case Study Example

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Summary
The important elements of marketing Victoria's secret is to precisely define the business, identify the goals and serve as the Victoria's secret resume. Pro forma balance sheet, an income statement, planning precise strategies and cash flow analyses comprises the basic components of a marketing plan Victoria's secret…
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Marketing Plan for Victoria's Secret

Download file to see previous pages... Other important applications include informing the details of the company to the sales personnel, suppliers and others so that they become aware of company's goals and achievements. Let's look at the essential elements of marketing plan Victoria's secret. The launch proposal for Victoria's secret would be as below mentioned.
Feasibility study is an important phase in the Victoria's secret development process. It enables the advertiser to have an assessment of the product being launched. It refers to the feasibility study of the product in this case Victoria's secret in terms of outcomes of the product, operational use and technical support required for implementing it. The best media to promote Victoria's secret would be electronic media like Television and Internet. The below are the feasibility study for the media like electronic and internet.
Economic Feasibility: It refers to the benefits or outcomes. We are deriving from the product as compared to the total cost we are spending for developing the product. If the benefits are more or less the same as the older system, then it is not feasible to develop the product.
In the present system, the development of the new product greatly enhance the accuracy of the system and cuts short the delay in knowing the brand to the general public as well. The errors can be greatly reduced and at the same time providing great level of security. Hence, we do not need any additional equipment except advertising strategy of required capacity.
No need of spending money on Victoria's secret for maintenance because the database used is web enabled database.
Operational Feasibility: It refers to the feasibility of the product to be operational. Some products may work very well at design and implementation but may fall in the real time environment. It includes the study of additional human resources required and their technical expertise.
Technical Feasibility: It refers to whether the software that is available in the market fully supports the Victoria's secret's advertising. It studies the pros and cons of using particular software for the development of the ad and its feasibility. It also studies the additional training need to be given to the people to make the advertisement..

To stay in the present marketing world a company should have good customer support services. The competition among companies is high and they to stay at the top they are using aggressive marketing strategies. The operational management and the Human Resource (HR) departments have a bigger role to play in the development of the respective companies. The quality of the product should always be of high standard.
The service side concentrates mainly on providing knowledge about the brand to the guilible buyers. Buyers care section plays an important role on deciding how good a company and should be taken seriously at all times. To become a multinational company the management has to expand its units across the country. As company and its other units are slowly expanding so does the problems are increasing ...Download file to see next pagesRead More
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