Victoria Secret Marketing Essay Example | Topics and Well Written Essays - 1000 words

Victoria Secret Marketing - Essay Example By way of vast expansion it is felt that they may not be able to stick onto this concept of self preservation. But for expansion of the stores this aspect must be totally changed and a contradictory thought is required in this. There are also whole worlds of opportunities that wait outside the US. Even under calls for protectionism by several business and government leaders, the trade agreements and reconfiguration of certain countries are undergoing and becoming a global marketplace where new ventures can be and are willingly carried out. (The Wide World of International Trade) Though many limited brand companies do recognize the potentiality of the global marketplace, the thought of executing the new venture is found to be discouraging. By way of this expansion there could be a more-deeper amount of commitment and also by opening stores in various other countries we could learn and formulate strategic business plans in wake of the expansion and which specifically addresses the new realities. Firstly to measure the potential of our expansion and target markets, the market study should try to identify certain aspects like similarities in business culture, practices as well as the law in the countries that we are going to expand. There are also other communication barriers being the language. Even the thought of spending, national tradition and religious beliefs of the people have also to be taken into account. The stability of the economic and political background of the market has also to be taken into account. What are the barriers to the limited market e ntry And also the current market size and the potential for growth have also to be taken into account for expansion (The Wide World of International Trade) There are countries that are found suitable in all the above aspects for the opening of new stores and for the expansion of Victoria Sercret. They are Tokyo, Taiwan and Korea, Singapore, Philippines. There is a market open for expanding to nearly many hundreds of stores in Taiwan alone. This is because of the reputable and retailing know-how of the country and also due to the acceptance of the people perspective in inviting new markets. For example the Starbucks Coffee International have agreements signed in opening 12 retail stores in Tokyo, 7 in Hawaii, 6 in Singapore and also in Philippines in 1998. This shows that these countries are very open to new markets and also welcome the new stores and also accept the coming of more markets into their country. (Come one, Come all, Come Every Year!) As a member of the marketing team a very vast potential market could also be visualized in Taiwan and Korea. These countries are suitable for these market expansions due to their perspective of culture and religion. If new stores are opened in these countries there could be an inviting market waiting in these countries which could benefit our expansion in the perspective of culture and religious tourism throughout the year. In this study there were also countries that may not help in expansion. They are Iraq, Syria, Iran and Caucasian countries. There could be no gain in opening new stores in these countries due to less scope in potential market. Whereas, the Arab countries could also be another good place for our expansion for opening new stores, due to the importance given to tourism in these countries. We could gain a good amount of market from the Arab countries