Comany_Analysis

| Company Case-Victoria’s Secret Pink: Keeping the Brand Hip | | | In our lesson we learn the buyer decision process had five stages. Those stages are need recognition, information search, evaluation of alternatives, purchase decision, and postpurchase behavior. It is suggested that the buying process starts long before the actual purchase and continues long after (Kotler/Armstrong, 13ed, pg 153). The buyer decision of a typical Pink customer skips from the need recognition to the purchase decision. This is done when the customer has identified a need/want for the product and decides to purchase without any further needed research or evaluation of the product. During the last stage of the buyer decision process the customer may experience cognitive dissonance. The text defines this as “Buyer discomfort caused by postpurchase conflict” (Kotler/Armstrong, 13ed, pg 155). The consumer may be happy with their purchase but may not be sastified with the drawbacks of purchasing the product. The Pink brand is supposed to appeal to the consumers ages 18 to 30 years of age. However, the brand has appeal to consumers as young as 10 years old and those older than 30. The brand is not geared to be sexy as other products in Victoria Secrets stores. The brand is geared to be fun and playful which is why it is appealing to the younger generation. Setting boundaries on the brand may hurt the company revenue. This is because when the brand is marketed it is not geared for younger children. It is mostly marketed to college students and young adults. It is up to the parents of the younger children to decide if they want to allow their children to purchase these products from Victoria Secrets. The attitudes towards Pink can be both positive and negative. The positive attitude comes from consumers who purchase the brand. The things that appeal to them and their attitude is that the brand is fun and flirty. It is hip and casual and not meant to sexy. The sweatpant, tshirts, pajamas appeal to college students and give them that ability to be comfortable while studying or even just relaxing with friends . The negative attitude will come from those consumers that don’t purchase the Pink brand but shop at Victoria Secrets. These consumers may see the Pink brand as too adult for the younger generation but still too young for those that are older. They may also see the fact that some parents may purchase this brand for their children as allowing them to grow up to soon. A persons attitude towards Pink may change for good if they took the time to maybe research the product. Sometimes it helps to try the product for yourself to decide if the product is good or not. For instance, I’m not usually a sweatpants and t-shirt type person but I found that the sweatpants and different tees are comfortable but yet fashionable when I need to make a quick trip to the store and don’t really want to get dressed. I found this out from working at Victoria Secrets and actually trying out the brand for myself. I’ll admit the fact that I got a discount didn’t hurt either. Although a person can have a positive attitude towards the brand might change because of the prices of the product. Most people will not want to pay the high prices for the brand because they may feel that the brand is not worth the prices. This will cause them to have a negative attitude and could influence them to take their business elsewhere to purchase sweatpants and t-shirts. This is because after the launch of the Pink brand other companies are starting to make fun and flirty “loungewear” that appeals to younger generations for half the cost. The self-concept of teens, tweens and young adults is helped by the Pink brand. According to Marshall Cohen, more young women are wearing loungewear, not just at home, but at school and the mall. “Pajamas are streetwear. Slippers are shoes” (Company Case, pg 164). The ability for mothers and daughters to shop together give them the opportunity share something in common. This could also bring them closer together and improve their relationship. Some may see this negatively because the brand appeals to the younger generation. Executives of Victoria Secrets deny that they are targeting seventh and eighth graders. The reason for this is because it might be considered exploitative. This is because until 2003, Victoria Secrets was only for sexy lingerie. Some are asking if the Pink brand extreme low rise string bikini panties are a gateway to other types of lingerie. I say it’s the discretion of the parent as to what they will and will not allow their children to purchase when it come to the Pink brand. References Kotler, Philip & Armstrong, Gary (2010). Principles of Marketing 13th Edition.