Victoria's secret price, promotion and place

Price:

Victoria’s Secret is targeting the middle class which is also reflected on the prices. However, they still have  different pricing strategies  depending on the collections. Victoria’s Secret prices tend to be higher than the Pink collection as this latter one is dedicated to teens, college students; younger women in general.         

Whereas Victoria's Secret is more of a high end underwear brand. It's pricier than most underwear brands, such as Etam or Adore me. According to the official website a Victoria's secret bra price can vary anywhere from £30 which would be their basic sexy tee push up bra,all the way to £60 which is the Dream angels push up bra. Their lingerie can be very affordable but also very exclusive, with prices ranging from £20 to £453. We can see that Victoria's secret caters for both middle class and high class women. PINK on the other hand is all affordable, with bra prices ranging from £25 to 32£. The reason for the high prices in Victoria's secret is because of the quality for one, then their underwear is modelled by famous models, which makes the item somewhat in high demand. Also the brand in itself is very famous so the customer is also paying for the brand.

This is the brands most expensive piece of lingerie, the lace gown,  priced at £453.

Also, Vitoria's secret has very frequent promotions and deals online and in-store. The deals could be anything from 50% bras or 5 for £25 on panties. They sometimes will say with any purchase of £70 you get a free tote. They try and entice their customers to buy the products. Also during the fashion they come out with exclusive merchandise written Victoria's secret fashion Show and the year. This exclusive merchandise costs sometimes close to 150£. 

Although Victoria's secret is a leading brand in the US which explains why it can have high prices, it is not quite the case in the UK. Even though there isn't an actually leading underwear retailer as such, department stores like Debenhams, or House of Fraser have an underwear section which as a multitude of different brands, such as Calvin Klein, Tommy Hilfiger or even their own brand. Also, lots of stores have an underwear section, this is the case for Hollister, H&M and other high street names. This gives the customer a wide choice of brand, price and design. Another brand that leads in the underwear industry in the UK is M&S, they aim more towards the older women between 30 and 80, but even young women can find a basic bra. And price wise M&S sells its lingerie at around £20 which is cheaper then Victoria's secret.

The UK may not have many Victoria's Secret stores, but it does have one of the most exclusive lingerie brands ever, "Rigby and Peller" this brand tailors for the Queen and has extremely exclusive prices. There are only 9 stores nation wide. The prices go anywhere from £50 upwards. 

Promotion:

According to the Economic Times, promotion is defined as ' the entire set of activities, which communicate the product, brand or service to the user. The idea is to make people aware, attract and induce to buy the product, in preference over others.' 

Victoria's Secret promotes itself like any other brand; through advertising. Victoria's Secret seeds millions of dollars when it comes to this; the Fashion Show alone costs them over 10 million dollars according to fashion magazines and business papers, such as The Retail Gazette. 

They promote themselves through social media: 

• Twitter (@VictoriasSecret) 
• Facebook (Victoria's Secret, VS PINK) 
• Instagram (@victoriassecret, @vspink) 
• Youtube channel (Victoria's Secret) with ads, interviews, previews and workout videos.

Through social media they announce their annual sales, limited time offers, new collections and products. They also try and get the customer involved by asking them to tag them in photos of their purchases. This is also a good promotional stunt, because the customer is then doing the advertising for them.

They also announce the upcoming events, for example the famous Victoria's Secret fashion show which is a promotional stunt that gets everyone talking. As the Financial Buzz has stated, they don't really promote their product during the Show. The show just helps the brand branch out into the entertainment industry which gives them a little more than the average brand. 
They have a lot of celebrity endorsement, they involve big names to appear on the show and perform at the same time that the Angels are walking down the catwalk. The Angels are also a big part of the advertisement. They help a lot with the promotion through meet ups, interviews and even by promoting the brand through their own personal social media accounts. 

Victoria's Secret also has its own playlist on spotify “train like an Angel” and multiple workout videos on Youtube or Facebook to help people get the body of a Victoria's Secret Angel which the actual Angels get involved in. 

A Victoria's Secret Angel is the best promotional tactic for the brand as they are everything a young girl aspires to look like, they are tall, beautiful, skinny, tanned sexy women who have incredible bodies. They are everything girls look up to and aspire to be like which is probably one of the biggest reasons why this brand is so successful. As well as always looking perfect, the Angels add a touch of fun and quirkiness to the brand during the fashion show as well as a lot of sexiness and glamour. There is also a section on the official website called   

Also, as part of their promotion they include free gifts with a purchase, like a free tote or wash bag with a purchase over a certain amount. 

Place:

The Economic Times have said that the place in the marketing mix refers to the channel, or the route, through which goods move from the source to the final user. Place could be the intermediaries, distributors, wholesalers and retailers. 

Although Victoria's Secret is known worldwide, they do not have many stores located outside of the States. They have 1,060 stores located in the US alone, 55 stores in Canada, and 5 in London. Outside of North America, there are almost 200 Victoria's Secret beauty and accessories stores mostly operated by partners such as Airports. The brand may not have a very big store presence worldwide, but it has a very heavy online presence, with shipping to almost every country, including St Lucia, Uganda, and Uzbekistan. 

They have a very developed online store, with hundreds of products. Unlike other brands such as Calvin Klein or Tommy Hilfiger, Victoria's secret does not sell its products through any other store or website whereas other brands sell through websites such as ASOS or in department stores such as House of Fraser. They do locate their stores rather strategically, placing them on a big high street, or in big shopping malls. 
They also have very unique shop fronts, that have very large, bright pink entrances. They stand out a lot compared to other shop fronts. Also the average size of a store is about 6,000 square feet.