ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Company Analysis: Ralph Laurene

Updated on November 18, 2014

Ralph Lauren Corporation is an apparel-oriented organization that is based in U.S. The company focuses on making various designs for men, women and children. Moreover, the company is also involved in marketing and selling high end apparel, fragrances, accessories and home furnishings to various clients globally. The company whose headquarter is in NY was established in 1967 by the American designer Ralph Laurine (Ralph Laurene, 2014). This paper is focused at analyzing the company’s strategic objectives, as well as the available strategic alternatives it can exploit to better its services.

Strategic Framework and Alternative

The 4 PS

Product

The company’s strategy in making its product lies with consumer behavior. Prior to making any type of products, the company first finds out the market behavior of an intended market. This to maximize the market share and exposure, especially in the clothing industry. In light of this, an understanding and knowledge of target markets, decision making of consumers, consumer perceptions and other factors that determine the possibility of the consumer purchasing the intended product is perceived as very critical to Ralph Lauren’s success.

In regard to its product offering, the company need to strategize on how to present its product in an appealing way. In particular, the company should develop specialty boutiques stores, luxury products, and different clothing lines to cater for the different interests and preferences of different market niches. Creation of affordable brands is a strategy that will help in attracting the wider market especially from the low economic background.

One of the advantages of this endeavor is that the company will have a differentiated line of products with those of the existing competitors. However, having to change products constantly may confuse the customers who may have been used to particular products.

Price

The corporations’ pricing strategy depends on various factors. The first and most obvious is calculating the actual cost for production and distribution. This is what actually shapes the price of its various products. There are other less tangible factors like profit margin, consumer attitude and personalities and brand values. Moreover, the company takes advantage of consumer behavior in pricing. For instance if the targeted market comprises of moderately financially well-off customers who do not have a problem with paying a little extra, then it sets the prices to suite them.

However, the company needs to be concerned on the prices it charges for its products. In particular, the price should be made relatively lower than those of her competitors should. This has the potential of drawing more customers from her competitors. However, this strategy may be disadvantageous to the company has low pricing may translate to low returns. Consequently, pricing should be secured after calculation of the anticipated profit from this product and the market share to be generated in relation to those of the competitors.

Promotion

To reaffirm its position as the most preferred luxury brand, Ralph Lauren turns to “merchantainment,” which it describes as a seamless blending of entertainment and merchandising, which means telling of stories from around the world on its own products. In this perspective, retailers create stories across different channels, which turn items to a lifestyle. Further, the company also releases a magazine with the name Ralph Lauren, in order to digitally promote its products and display new ones. This allows prospective customers and loyal shoppers to see and further understand the lifestyle and product categories of Lauren.

However, R.L should explore different avenues and means, which can be used for promotion and advertising purposes in order to develop and expand its local and international markets. In particular, the company should focus on creating private previews, organizing fashion shows, organizing private previews, as well as leveraging on interactive marketing strategies in-store Holiday sales and sneak peeks of new clothing arrivals.

Increased promotional endeavors translate to increased awareness on the company’s products. However, this may lead to wastage of company resources as some avenues may not yield positive results.

Place/Means of Distribution

The corporation sells its products worldwide through its more than 11,500 outlets. In addition, it also wholesales its products to leading mid-tier and upscale departmental stores, golf and pro shops and specialty stores, both internationally and domestically. Further, it also sells products through e-commerce sites, which are operated by wholesale customers. Other products are sold o through licensing with its many licensing partners such as Luxottica group,Hanesbrands,L Oreal and Peerless.

In order to further expand its international market base, Ralph Laurene should endeavor to establish subsidiaries in international markets, which will help in distributing the products to various countries. Moreover, it should make use of potential found in the internet by leveraging on the e-Commerce and mobile industry, online marketing, and hosting fashion shows on their websites.

Implementation of the 4Ps

In essence, a marketing mix that is successful and which facilitate increased results, necessitates analyzing the target market and experimenting. All the marketing mix elements must be coordinated to avoid sending mixed messages to the potential clients, which could lead to confusion. In short, all the elements of the marketing mix ought to contain similar messages. One of the key elements that Ralph Laurine Corporation should consider in respect to the success of their marketing program is to work effectively in shaping the various marketing mixes. This will help in meeting the nature and needs of the target market.

Comments

    0 of 8192 characters used
    Post Comment

    No comments yet.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)