There is a lot going on at Victoria’s Secret these days. The brand has not been doing well in the last few years, based to a large extent of not embracing consumer preferences and societal changes in body image. This is a good case study that’s fluid and in real-time. This past week, the CEO of VS was ousted (Jan Singer was only on the job for approx. two years) and the coveted annual VS Fashion show completed production in NYC for its early December broadcast.
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Please use the attached article as your backdrop (you may also use additional resource if you think it will be helpful)
Answer the following questions:
1. In your opinion, what should Victoria’s Secret do to address changes in consumer preferences and greater acceptance of more diverse body image? Why or why not? Should VS stick to what the brand has always been about or change their image and broaden their product line?
2. Regardless of how you answered question 1, let’s assume that VS will begin to broaden its product assortment for different body types and changes its brand positioning, do you think the new product assortment should be under the “Victoria’s Secret” brand or do you think they should consider a new brand or sub-brand? HINT: this question entails not only branding but also segmentation, targeting, and positioning – something that I place a lot of focus on.
3. Do you think it’s been a wise decision for VS to focus on product lines such as sports bras and athleisurewear? It looks like Jan Singer has a background that included Spanx and Nike.
4. Based on what the article discussed about Ed Razek, do you think this year’s VS annual Fashion Show (you can look it up online to get news and coverage) will resonate with consumers? Why or why not?