The aim of this paper is to give profound recommendations how the brand should react to a new market situation and the current trends which influence the industry and the consumer behavior. Victoria’s Secret needs a makeover. What will be discussed is the question what exactly needs a makeover and how this one should look like.
These two dimensions are linked with the topics brand image, corporate communication and rebranding, which should reveal some optimization potential. A problem analysis with subsequent consideration of the communication strategy should help to identify strengths and weaknesses of the brand and make it possible to give management suggestions for now and the future.
To answer my research question, I am applying a qualitative approach based on collecting relevant information and literature review of key sources. Other competitors use the lack of innovation of Victoria’s Secret as an advantage to gain market share by emphasizing racial, body and gender inclusivity in their brand messaging with a huge success and consistently positive consumer response. Victoria’s Secret has now reached a point where it has to take actions to remain competitive and to respond correctly to the market change.
Table of Contents
- 1 Introduction
- 1.1 Problem Definition
- 1.2 Objectives
- 1.3 Course of Investigation
- 2 Theoretical Foundation
- 2.1 Importance of Brand Image
- 2.2 Relevance of Corporate Communication and Rebranding
- 3 Actual state of the Problematic
- 4 Research method
- 4.1 Description of the Strategy
- 4.2 Adaption to the Case
- 4.3 Research Result
- 5 Summary
- 5.1 Management Recommendations
- 5.2 Outlook
Objectives and Key Themes
This term paper aims to provide recommendations on how Victoria's Secret should respond to current market trends and consumer behavior. It investigates how brand image, corporate communication, and rebranding can optimize the brand's position. A problem analysis, considering the brand's communication strategy, identifies strengths and weaknesses to provide management suggestions.
- The importance of brand image in a competitive market, especially concerning consumer self-perception and brand identification.
- The role of corporate communication and rebranding in addressing a negative brand image and adapting to changing market trends.
- The analysis of Victoria's Secret's current market position, considering its declining profits and negative public perception.
- The development of a communication strategy for image improvement and market repositioning.
- The formulation of management recommendations for Victoria's Secret based on the analysis and research findings.
Chapter Summaries
1 Introduction: This introductory chapter establishes the problem Victoria's Secret faces: declining profits and a negative brand image in the face of changing societal values emphasizing body positivity and inclusivity. The chapter highlights the contrast between Victoria's Secret's traditionally idealized image of female beauty and the evolving preferences of contemporary consumers. It introduces the paper's objective to offer actionable recommendations for brand revitalization through strategic communication and rebranding, focusing on an analysis of brand image, corporate communication, and the potential for rebranding to improve market standing. The methodology of the study, incorporating qualitative approaches and relevant literature, is also outlined.
2 Theoretical Foundation: This chapter explores the theoretical underpinnings of brand image, corporate communication, and rebranding. It emphasizes the crucial role of a positive brand image in the highly competitive lingerie market, highlighting the importance of consumer identification with a brand’s personality to drive purchasing decisions. The chapter then delves into the significance of effective corporate communication and rebranding strategies, arguing that they are essential tools for managing a brand’s identity and successfully adapting to market changes. It explores various communication strategies, such as celebrity endorsements and brand-focused campaigns, outlining how these methods shape brand perception and influence consumer behavior. The discussion emphasizes the impact of a negative brand image on business success and the necessity of swift corrective action.
3 Actual state of the Problematic: This chapter presents a case study of Victoria's Secret, illustrating the consequences of a flawed brand image, ineffective communication, and a lack of rebranding. The cancellation of the annual fashion show due to declining viewership and store closures are cited as tangible evidence of the brand's struggles. Furthermore, the chapter draws attention to the negative publicity surrounding the company's association with convicted sex offender Jeffrey Epstein, further damaging its public image. This section directly links the theoretical framework established in the previous chapter to the real-world challenges faced by Victoria's Secret.
Keywords
Brand image, corporate communication, rebranding, Victoria's Secret, lingerie market, consumer behavior, market trends, body positivity, inclusivity, brand revitalization, strategic communication, management recommendations.
Victoria's Secret Brand Revitalization: FAQ
What is the main topic of this term paper?
This term paper analyzes Victoria's Secret's current market challenges, focusing on its declining profits and negative brand image. It aims to provide recommendations for brand revitalization through strategic communication and rebranding efforts.
What are the key themes explored in the paper?
The paper explores the importance of brand image in a competitive market, the role of corporate communication and rebranding in addressing negative perceptions, and the analysis of Victoria's Secret's current market position. It also focuses on developing a communication strategy for image improvement and market repositioning, culminating in management recommendations.
What is the problem Victoria's Secret faces, as identified in the paper?
Victoria's Secret faces declining profits and a negative brand image due to its failure to adapt to changing societal values emphasizing body positivity and inclusivity. The contrast between its traditionally idealized image of female beauty and the evolving preferences of contemporary consumers is highlighted as a major contributing factor.
What theoretical frameworks are used in the paper?
The paper utilizes theoretical frameworks related to brand image, corporate communication, and rebranding. It emphasizes the crucial role of a positive brand image in driving purchasing decisions and the importance of effective communication strategies in managing brand identity and adapting to market changes.
What methodology is employed in this research?
The paper employs a combination of qualitative approaches and relevant literature to analyze Victoria's Secret's situation. It incorporates a case study approach examining the company's challenges and offering evidence-based recommendations.
What are some specific examples of Victoria's Secret's struggles mentioned in the paper?
The paper cites the cancellation of the annual fashion show due to declining viewership and store closures as tangible evidence of the brand's struggles. The negative publicity surrounding the company's association with convicted sex offender Jeffrey Epstein is also highlighted as a significant contributor to its damaged public image.
What kind of recommendations are provided in the paper?
The paper provides management recommendations for Victoria's Secret based on the analysis and research findings. These recommendations aim to guide the company in improving its brand image, enhancing its communication strategies, and effectively repositioning itself in the market.
What are the key words associated with this research?
The keywords include: Brand image, corporate communication, rebranding, Victoria's Secret, lingerie market, consumer behavior, market trends, body positivity, inclusivity, brand revitalization, strategic communication, and management recommendations.
What is the structure of the paper?
The paper is structured into several chapters: an introduction defining the problem and objectives; a theoretical foundation exploring relevant concepts; an analysis of Victoria's Secret's current situation; a summary of findings and management recommendations; and a conclusion providing an outlook for the future.
What is the overall purpose of this document?
This document serves as a comprehensive preview of the term paper, providing a detailed overview of its contents, including the table of contents, objectives and key themes, chapter summaries, and keywords. It is intended for academic use and analysis of the themes presented.
- Quote paper
- Katrin Finkler (Author), 2020, The Brand "Victoria’s Secret". Does the Brand Need a Makeover?, Munich, GRIN Verlag, https://www.grin.com/document/903545
