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Luxury Retail Store Concept

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Create the Value: Market Segmentation Analysis and a Value Proposition
Your company has decided to explore the possibility of developing a new retail brand aimed at a specific target market. Please prepare a report that would form the basis of a planning discussion with your senior marketing managers. The term retail brand refers to a retail store concept, as opposed to a manufacturer's product or service brand - the retail company is the brand - like Target, GAP or Victoria's Secret.
Your report should be 1,000-1,250 words and include a minimum of three references. Please use the APA format for your paper and reference

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Solution Summary

This solution of 498 words discusses a new luxury retail store concept for Victoria's secret and conducts a market segmentation analysis.

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The retail brand or concept chosen for this assignment is a super premium or luxury store concept for Victoria's secret. The new store concept will focus on exclusive, high end customers by providing ultimate purchase experience via a combination of advance technology, world class super premium offerings and exclusive customer service.

The new store concept of Victoria's secret will focus on utilizing advance retail technology tools such as smart mirrors or smart changing rooms, ibeacons, digital displays, trained sales people with technology tools such as handhelps/tablets to provide an omnichannel buying experience to the exclusive customers. Customers can visit the store, order online or via their mobile device and will get a unifying experience across all channels.

Customers visiting the store will get access to latest technologies such as smart mirrors and ...

Solution provided by:
Sandeep Bardia, MBA
Education
  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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