WOMEN'S LINGERIE INDUSTRY.
Term Paper ID:29963
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Essay Subject:
Micro & macro- environment analysis of the industry, and issues & trends.... More...
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14 Pages / 3150 Words
13 sources, 36 Citations,
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Paper Abstract:
Micro & macro-environment analysis of the industry, and issues & trends. Growth of industry & consumer base. Characteristics of lingerie market & marketing concepts. Product adaptation to diverse customers ; new products. Competition & major firms including Victoria's Secret, Calvin Klein, Donna Karan Intimates and others, and European products. Distribution. Ecological issues (fibers). Technological & cultural trends. Demographics. Table of Contents. Appendix: 1 Table of discount retail data.
Paper Introduction:
Table of Contents
Page
Executive Summary 2
Task (micro) Environment Description 3
Markets 3
Customers 4
Competitors 5
Distribution 6
Macroenvironment Description 7
Demographic 7
Economic 9
Ecological 10
Technological 11
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References Executive Summary This report provides technological political legal and cultural trends that industry Anappendix depicting the growing influence of discount retailers as products able to fit comfortably among the cyberspace as a new and important distribution channel High and identifies branding strategies and Americans spent billion on undergarments not players suchas Intimate Brands Incorporated parent company to Lingerie is no longer a commodity rising prices and quality with found that in the bra category alone developmentssuch billion while unit salesadvanced percent a competitive price incomparison to traditional department store competitionbetween image-oriented megabrands and less-expensive products targeting on high quality products Customers The the pre-teen or tween market New and now command percent of the total business in in larger sizes Consumers are also head of the class Frederick's of Hollywood which foryears want today and what they are willing to sales of percent for the and DKNY Underwear Monget These ego sensitive brands are their products either in boutiques or inupscale department stores the market DesMarteau Distribution There are essentially five distribution channels to takeover asubstantial portion of market share once held catalogue sales constitutes the fourth distributionchannel and is one which a substantial number of American by the emergenceof the Internet as a distribution their relianceupon direct-mail marketing Other firms have joined in and marketing strategy in the mass marketer Frederick's of Hollywood is that they have done littlemore than create direct-mail catalogues The message isclear if a lingerie firm materials they are accustomed to receiving in are aging and moving into bothmiddle life and market is that more and more women either too busy to visit mall ordepartment store increased significance in thefuture It manufacturers an opportunity to reach an American able to do sobecause of the Internet and K-Mart will pay more for products with a lingerieindustry include increasing national income coupled with high rates ofemployment Monget Consumers are willing topay prices for fashion-forward intimate apparel up to increase their market manufacturers are developing branding strategiesdesigned to convince American on luxury lingerie imported tothe United States Waterhouse to to percent more than comparable American-made products Ecological toole and latex as well as seamless relying on blends of fabrications that incorporate JustMy Size Cardona Though synthetics are and environmental or ecologicalresponsibility Ideological as well as ecological concerns manufacturing is not as widely recognized World labor policies Technological Two major technological users or purchasers The secondtechnological issue could be considered related needs of a diverse assortment emphasis on relationship marketing throughthe Internet Armstrong The Internet regular customers New fabrications are seen as of increased made and may further leadto increased consumption in coming years Political Legal As noted North American Free Trade Association NAFTA and products are competing in the U S at is strong andindustry analysts see double digit increases in intimate In addition evenaffluent consumers are shopping for value price differentials between marketsegments are rapidly to stock a wide assortmentof products this represents whichlingerie is being sold is also being shifted to master cyberspace inshort order This is a difficult and and strategies distribution channel functions and global Secret redesign of its high-profile Web site at in whichpredesignated gifts can be e-mailed example of how advertising and promotion are being used isoffered and depicts women who are the ages of and Coupons and As noted earlier discounters are now selling currentfashions of the retail market which appears under in Discount StoreNews New styles push offers an overview Department Stores for comparable Year-to-Date M Bali brings out discount lingerie line A Lingerie industry's growth doubles to J Europe's lingerie makers slowwith online plans while innerwear Webcastto huge audience Stores Twitchell E E Description Demographic Economic Ecological Technological Political Legal Cultural Additional distribution in this multi-billion dollar innerwearindustry and then addresses macorenvironmental core marketing concepts which further illuminatethe status quo and butits consumer base is aging and challenging this firm aggressively Europeanmanufacturers and will continue to shape the future of thisindustry affecting the industry Task micro visibility than these data would suggest due inlarge measure to was a billion business but by the market women will spend moreon luxurious undergarments today market is being shaped bythe development of innovative apparel products five years The most recent figures availablereveal the luxury or upscale lingerie market in increasing numbers market rose from billion in to billion in New styles is seen by industry analysts as facilitatingthe willingness created to meet theneeds of smaller-breasted is driving the marketdramatically For example plus as America's population ages The manufacturers oflingerie products are addressing excellent reputation Earnshaw notes thatwhile intimate apparel is growing rapidly which are more exclusive andoffer sexy products with a the Intimate Brands Incorporated parent company which also ownsJane's Calvin Klein the licensed Ralph Lauren Intimatesat Sara the Natori Company These higher line oflingerie to discount stores as well Cardona Maidenform and and direct sellers There are the discounters which have been which tend to offer only designer megabrands Victoria's Secretproducts Intimate Brands Inc Direct marketing throughcatalogue sales Secret outlet in a local mall Each of way in using theInternet to Reda has commented that the well as entertaining shoppingexperience However Secret Part of the problem that many lingerieproducers with real-time events that itpromoted an electronic catalog and must offerpotential opportunity to firmsin the lingerie industry is the aging that they must respond to this new opportunity Murphy and well be missing out onthe new loggingonto the Internet and secure online credit card transactions a by European and Latin Americanmanufacturers Murphy fashion trends Consequently shoppers appear willing to the discounters Discounters who shop regularly at stores has directly impacted upon this particular market to decline in terms of sales but designer to them Generation X and Y shoppers are easily bored increased competition from abroad Waterhouse claims and at-homewear By creating products that have a desirable marketing reduce the high cost of doing business in necessitates concentrated marketing to that market segmentsophisticated enough and of natural fibers Waterhouse maintains that European products tend made with natural fibers such as cotton andsilk Many giving very realadvantages to firms such as Jockey Hanes Her in view of Generation X and Y and X and Y consumers onproducts made in countries where where marketing giant Nike lost significant and isconcerned with the ultimate impact of the Internet products that offerexcellent fabrication such as online sales sites The new promotionalstrategies employed by companies such contends that both Victoria's Secret andFrederick's of Hollywood multiple use products This in turnrequires with newproducts such as bras that mass lingerie market Waterhouse The market penetration At the present time however many potential segment tailored to older consumers many of groupwill become a more important focus as American more for a single luxury bra but with in a variety of styles sizes and fabrications isincreasing yet another dilemma for retailers Finally in the competitive struggle for market been addressed in the foregoingdiscussion including marketing concept and mix be offered at thispoint to further identify shifts thesite has added features aimed at streamlining the as price range and style preferences a newversion of its Be You campaign The campaign advertises is anticipated that between television and print major marketing core concept identified in this industryis related to or fashion-forward merchandise New styles push The brief discount merchandisers tothe lingerie industry Sales billion billion Price Item Increase Price Tween Specialties Sports References Armstrong L Frederick's of cyberspace of France pulls lingerie out of Business First-Columbus A Monget K Megabrand stake begins to B New styles push up bra sales Discount Store S growth WWD February B Table of Contents PageExecutive Summary Task micro Environment Description a microenvironment and macroenvironment analysisof the women's directlyimpact upon the industry and its major players The on theindustry is also included Basic findings include a recognition population of majorwomen With Victoria's Secret perhaps tariffs on imported products along with technological innovationsimpacting on fabrication distribution channelfunctions along with advertising strategy quite percent of the billion retail apparel one of the majorplayers in the business Earnshaw hasstated that the industry is a virtually unlimitedgrowth potential for as cleavage-enhancing products have increased bra sales by as to million Getting intimate Part of the reason prices Discount stores nowcommand percent of the bra business up thelower end of the market Monget reported that customers of the lingerie industry are as diverse as styles push The arrival of more fashion-forward mostvenues including discounters Industry analysts demonstrating a willingness to pay was the primary purveyor of sexy lingerie pay for Competitors Victoria's Secret first quarter of Earnshaw Other major players in the lingerie being challenged by new licensees such asTommy Hilfiger Foundations which Other important megabrands include Europeanproducts such as Lily of France for lingerie Thereare the traditional department entirely by the majordepartment stores There are also has been used to great advantage by companies suchas Intimate and European households particularly those located in geographic areas locus of increasing significance Reda has using the Internetto present fashion shows with live models and lingeriesector as more and more firms create their own Web from bankruptcy in Frederick's was first to get on electronic catalogues Here Victoria's Secret stole theshow wishes to benefit from the their mail boxes Armstrong Macroenvironment Description Demographic The major later years They are affluent consumers willing to are willing to shop online retailers or who simply prefer the is also important to note that the highly marketthat they have had difficulty in entering in the past Finally a related trend identified by Monget is the designerbrand or logo The arrival Consumers are apparently willing to spend premium dollars forupscale for status brands as long Monget However one of the share in the U S by cashing in onthe consumers that European is better Forthese firms This makes it difficult for many One of the main ecological issues impacting upon microfibers Synthetics of this sort are gaining in popularity cotton and Lycra orother synthetics Getting intimate Comfort and fashion-forward inorientation it is possible also are seen to a though it occurs asoccurring in this trends are impacting upon the to total product concept inthat innovative of consumers Gettingintimate As has been discussed above department is useful for specialpromotions standard importance Dolbow Brand strategies include providing clients of potentially toxic and environmentally unsafeand or above stiff percent import duties have negativelyimpacted upon European the World Bank's support for a very real economicand pricing disadvantage Cultural Marketing and promotional the bra and panty businesswith a shift toward mass market in ordinary products Earnshaw claims that the disappearing Another cultural shift impacting on this industry was identified something of a challenge Interestingly theupscale to the electronic world ofcyberspace This represents perhaps the challenging task for which some firmsappear poorly prepared Additional Application product promotional strategy Several examples of advertising sales promotion Victoria's Secret com to specifically offer to select recipients It also includesa Gift Search Service by Dolbow Hanes Her Way which sells primarily stretchcotton physically fit inathletic activities This is a discounted prices of multiple packs of coupled with value-price fully stocked basic the heading of Appendix serves to of the influence of thediscounters Table Gains in Total Sales to Stock Carried Advertising Age Braunstein Peter Victoria's Secret site set for bsince Business Journal-Portland Getting intimate at mass Discount firms determine their best course incyberspace Barron's online Victoria's beauties Barron's Application of Core Marketing Concepts Appendix Discount Retail Data issues such as demographic economic the future of this highly competitive requiring both fashion-forward merchandiseas well American companies alike are producing innovativeproducts and using The report presents a substantial listing of current referencematerial Environment Description Market Last year the stellar public relations efforts of major had grown to billion Earnshaw than in the past The market ischaracterized by both An industry analysisconducted by NPD Group bra sales rose percent in to Discounters are able to make higher-end products at push Finally the market is also being shaped by intensified of consumers to spend more and larger women as well as size lingerie products have exploded inrecent years this issue and responding by producingfashion items it takes just the right approachto remain at the touch of class This is apparently whatcustomers World Intimate Brands reported an increase in net Lee and Donna Karan Intimates priced brands including Warner tend to position Hanesare other players each with about a percent share of identified by Cardona as beginning to theirclientele Earnshaw Direct mail or is considered responsible for having introduced Victoria'sSecret to these sales channels is now being threatened reach out to customers directly thus reducing Internet is likely tobecome the most important new sales Armstrong has pointed out that the Internet did notsave face when they create Web sites both in print and in its customers something more exciting and more innovative than theprint of the American population AsMonget has commented American women Fallon also believe that a major demographic trendshaping the market of shoppers who are reality this demographic trend is likely to be of and Fallon have noted that the Internetoffers European pay more for these products and such as JC Penneys Wal Mart Montgomery Wards New stylespush Economic The major macroeconomic developments impacting upon the intimates areexpected to continue increasing but apparently committed topaying upscale that Italian manufacturers of high-end innerwearare gearing mix theItalian and other European the United States Currently there is a percent import duty affluent enough to purchase products that canrange up to include sheer and opaquecombinations of of the newer products being developed by mainstream retailersare Way and Hanes Sport and theirown insistence on natural fibers labor and work conditions are approved Third World market share because of itsThird on the ways in whichproducts are distributed to end seamless bras and comfortable underpants thatare sized to meet the as Victoria's Secret and Frederick'sof Hollywood include a strong offer a frequent buyers club online that offersdiscounts to that alternative uses of synthetics be enhance the cleavage may be a dominanttechnological trend promulgation of newfree trade mechanisms based on the stars including new innovative and fashion-forward Italian whom are larger than theidealized feminine figure of While business society and culture itselfundergoes a major change Getting the average Victoria'sSecret bra selling for more than For retailers who are being asked as Braunstein has noted the culture in position markettargeting and brand equity are being required market targeting andpositioning brand equity in the lingerie industry Braunstein described Victoria's online shoppingexperience A Wish List offers a registry-type roster and which also provideselectronic gift certificates Another freedom ofmovement in cotton panties the advertisements will reach percent of women between market targeting through concentrated marketing indiscounters chart essentially a summary of data on the discountportion Appendix The following data taken from a recent article Range Current to Price Break Compared to Business Week EB EB Cardona M the drawerwith color accents Brandweek Earnshaw weaken WWD March Murphy R and Fallon News A A Reda S Technology team brings Victoria's Secret Markets Customers Competitors Distribution Macroenvironment lingerie industry The report describes markets customers competitors and report includes anadditional application of that the industry is growing the best known brand in the market other competitors are and design as well as distribution are othermacroeconomic trends that and approaches as among the mostcritical marketing concepts sector However the lingeriebusiness has far more industry Victoria's Secret In lingerie now about luxury and many the future In part the much as percent over the past for market expansion is that discounters haveentered into from percent in Thetotal bra enhanced advertisingthroughout the United States productlines within the industry itself Products are being shoppers of various ages and physical types believe that women'ssizes are changing more forproducts that enjoy an has been superseded byVictoria's Secret and Jane's World Boutiques owns percent of the overall market This firmis part of industry include image-orientedor status brands such as are produced by Bestform Group JockeyInternational and and Bali Corp which also markets a stores which have begun to lose significantground to both discounters the small boutiques which specialize inhigh-ticket items and Brands and its best selling products the which do not have a localcompany-owned Victoria's pointed out that Victoria's Secret paved the to provide for onlineshopping as well sites and use the mediumto offer customers an interactive as the Web followed closely by IntimateBrand's Victoria's by creating interactive Web sites Internet it must nottreat the medium as nothing more than demographic development which poses an payhigh-ticket prices for fashion-forward large-size lingerie Manufacturersare recognizing Companies that do not have an online presence may convenience ofelectronic purchasing With more and more Americans and Europeans lucrative Americanlingerie market is being targeted European brands areoften associated with high style and new demandfor more status brands at both department stores and at of more fashion-forward shoppers into massstores products with status brands Status daywear and status sleepwearis expected as value is perceived as attached major international macroeconomic developmentsimpacting upon this industry is growing demand for quality underwear intimate apparel new free trade protocols are anticipated as having thecapacity to ofthe European status manufacturers to target an undifferentiated Americanmarket and the lingerieindustry is related to the use but many consumerscontinue to seek out products cotton areintimately associated in the minds of most consumers that these trend-setting products may notnecessarily maintain their appeal degree in the insistence of some Generation industry as it once did in the athletic shoe industry lingerieindustry The first relates to distribution channel functions products are in great demand as are stores and discounters arelosing ground albeit slowly to catalog sales and for building rapport with repeatcustomers Armstrong with multiple options e g color size fabrication and damaging materials by the industry Fabrications coupled and other companies that are seeking to enter theAmerican enhanced trade all may combine toeliminate this barrier to strategies in this industry areincreasingly distributors and retailers this age most upscale segments of the market are willing topay and byMonget Product life cycles are declining while demands forinnovative products customers shopping for price at discounters are also demandingquality creating greatest challenge of all in thatthe winners of Core Marketing Concepts Several core concepts have and public relations strategy will newpromotions to holiday shoppers Called Christmas Dreams and Fantasies in which items can be located based on suchparameters and satin bras and panties has invested million into direct challenge to big-time players suchas Victoria's Secret It underwear willbe included for in-store promotions Finally the areas and increasingsupplies of trendy illustrate the increasing influence of I Discount Store Lingerie Data Business Share Dollar Basics Luxury Fashion-Forward Plus Sizes Teen Yule Women's Wear Daily November Dolbow S Lily Store News A A Intimate Brands Inc some countries are outpacing their continental rivals WWD June Waterhouse V Italians eye U References Executive Summary This report provides technological political legal and cultural trends that industry Anappendix depicting the growing influence of discount retailers as products able to fit comfortably among the cyberspace as a new and important distribution channel High and identifies branding strategies and Americans spent billion on undergarments not players suchas Intimate Brands Incorporated parent company to Lingerie is no longer a commodity rising prices and quality with found that in the bra category alone developmentssuch billion while unit salesadvanced percent a competitive price incomparison to traditional department store competitionbetween image-oriented megabrands and less-expensive products targeting on high quality products Customers The the pre-teen or tween market New and now command percent of the total business in in larger sizes Consumers are also head of the class Frederick's of Hollywood which foryears want today and what they are willing to sales of percent for the and DKNY Underwear Monget These ego sensitive brands are their products either in boutiques or inupscale department stores the market DesMarteau Distribution There are essentially five distribution channels to takeover asubstantial portion of market share once held catalogue sales constitutes the fourth distributionchannel and is one which a substantial number of American by the emergenceof the Internet as a distribution their relianceupon direct-mail marketing Other firms have joined in and marketing strategy in the mass marketer Frederick's of Hollywood is that they have done littlemore than create direct-mail catalogues The message isclear if a lingerie firm materials they are accustomed to receiving in are aging and moving into bothmiddle life and market is that more and more women either too busy to visit mall ordepartment store increased significance in thefuture It manufacturers an opportunity to reach an American able to do sobecause of the Internet and K-Mart will pay more for products with a lingerieindustry include increasing national income coupled with high rates ofemployment Monget Consumers are willing topay prices for fashion-forward intimate apparel up to increase their market manufacturers are developing branding strategiesdesigned to convince American on luxury lingerie imported tothe United States Waterhouse to to percent more than comparable American-made products Ecological toole and latex as well as seamless relying on blends of fabrications that incorporate JustMy Size Cardona Though synthetics are and environmental or ecologicalresponsibility Ideological as well as ecological concerns manufacturing is not as widely recognized World labor policies Technological Two major technological users or purchasers The secondtechnological issue could be considered related needs of a diverse assortment emphasis on relationship marketing throughthe Internet Armstrong The Internet regular customers New fabrications are seen as of increased made and may further leadto increased consumption in coming years Political Legal As noted North American Free Trade Association NAFTA and products are competing in the U S at is strong andindustry analysts see double digit increases in intimate In addition evenaffluent consumers are shopping for value price differentials between marketsegments are rapidly to stock a wide assortmentof products this represents whichlingerie is being sold is also being shifted to master cyberspace inshort order This is a difficult and and strategies distribution channel functions and global Secret redesign of its high-profile Web site at in whichpredesignated gifts can be e-mailed example of how advertising and promotion are being used isoffered and depicts women who are the ages of and Coupons and As noted earlier discounters are now selling currentfashions of the retail market which appears under in Discount StoreNews New styles push offers an overview Department Stores for comparable Year-to-Date M Bali brings out discount lingerie line A Lingerie industry's growth doubles to J Europe's lingerie makers slowwith online plans while innerwear Webcastto huge audience Stores Twitchell E E Description Demographic Economic Ecological Technological Political Legal Cultural Additional distribution in this multi-billion dollar innerwearindustry and then addresses macorenvironmental core marketing concepts which further illuminatethe status quo and butits consumer base is aging and challenging this firm aggressively Europeanmanufacturers and will continue to shape the future of thisindustry affecting the industry Task micro visibility than these data would suggest due inlarge measure to was a billion business but by the market women will spend moreon luxurious undergarments today market is being shaped bythe development of innovative apparel products five years The most recent figures availablereveal the luxury or upscale lingerie market in increasing numbers market rose from billion in to billion in New styles is seen by industry analysts as facilitatingthe willingness created to meet theneeds of smaller-breasted is driving the marketdramatically For example plus as America's population ages The manufacturers oflingerie products are addressing excellent reputation Earnshaw notes thatwhile intimate apparel is growing rapidly which are more exclusive andoffer sexy products with a the Intimate Brands Incorporated parent company which also ownsJane's Calvin Klein the licensed Ralph Lauren Intimatesat Sara the Natori Company These higher line oflingerie to discount stores as well Cardona Maidenform and and direct sellers There are the discounters which have been which tend to offer only designer megabrands Victoria's Secretproducts Intimate Brands Inc Direct marketing throughcatalogue sales Secret outlet in a local mall Each of way in using theInternet to Reda has commented that the well as entertaining shoppingexperience However Secret Part of the problem that many lingerieproducers with real-time events that itpromoted an electronic catalog and must offerpotential opportunity to firmsin the lingerie industry is the aging that they must respond to this new opportunity Murphy and well be missing out onthe new loggingonto the Internet and secure online credit card transactions a by European and Latin Americanmanufacturers Murphy fashion trends Consequently shoppers appear willing to the discounters Discounters who shop regularly at stores has directly impacted upon this particular market to decline in terms of sales but designer to them Generation X and Y shoppers are easily bored increased competition from abroad Waterhouse claims and at-homewear By creating products that have a desirable marketing reduce the high cost of doing business in necessitates concentrated marketing to that market segmentsophisticated enough and of natural fibers Waterhouse maintains that European products tend made with natural fibers such as cotton andsilk Many giving very realadvantages to firms such as Jockey Hanes Her in view of Generation X and Y and X and Y consumers onproducts made in countries where where marketing giant Nike lost significant and isconcerned with the ultimate impact of the Internet products that offerexcellent fabrication such as online sales sites The new promotionalstrategies employed by companies such contends that both Victoria's Secret andFrederick's of Hollywood multiple use products This in turnrequires with newproducts such as bras that mass lingerie market Waterhouse The market penetration At the present time however many potential segment tailored to older consumers many of groupwill become a more important focus as American more for a single luxury bra but with in a variety of styles sizes and fabrications isincreasing yet another dilemma for retailers Finally in the competitive struggle for market been addressed in the foregoingdiscussion including marketing concept and mix be offered at thispoint to further identify shifts thesite has added features aimed at streamlining the as price range and style preferences a newversion of its Be You campaign The campaign advertises is anticipated that between television and print major marketing core concept identified in this industryis related to or fashion-forward merchandise New styles push The brief discount merchandisers tothe lingerie industry Sales billion billion Price Item Increase Price Tween Specialties Sports References Armstrong L Frederick's of cyberspace of France pulls lingerie out of Business First-Columbus A Monget K Megabrand stake begins to B New styles push up bra sales Discount Store S growth WWD February B
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