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Transcript of Ralph Lauren
Leader in design, Marketing and distribution of premium lifestyle products for 45years.
4 product categories
Multiple sub-brand labels
Polo Ralph Lauren
The Ralph Lauren Collection
Mission Statement & Current Competitors
'To redefine American style, provide quality products, create world and invite people to take part in our dreams'
Look at the College market more closely.
Already a significant customer.
Reboot Rugby or similar line of Ralph Lauren Apparel.
Create new line which is affordable for College students. but retain the Ralph Lauren prestige.
Communication Techniques & Media Vehicles
In store - Stores are themed and often the interior decoration is quite opulent. Staff members are immaculately groomed and well spoken. RL has concession stores in upmarket department stores, E.g. David Jones
Premium Designer Brands
Country Road (factory outlet stores
Social Media - RL have over 7million Facebook likes. Uses the page to advertise new promotions and new clothing lines.
RL Magazine - Released quarterly. Helps reinforce
the "luxury lifestyle" image RL wish to promote.
Informs customers of other initiatives RL are involved in E.g. the Ralph Lauren cancer care institute.
Current Marketing Strategies
Portray images of successful people engaging in affluent activities.
The use of exotic locations in much of RL promotional material.
Extended brand to 5 star restaurant.
Use of social campaigns to market themselves as socially conscious. E.g. Pink Pony.
Strengths - Long standing company, with big international presence.
Weakness - Don't sell essential items, can be cut from ones budget.
Opportunities - Growing luxury good sectors in rising economies, e.g. China
Threats - More competitive priced line from other competitors
New Target Market
Retail Marketing Strategies
Connect more effectively with social media, exploit online outlets for promo.
Effective store locations, e.g. Melbourne's inner north.
Follow the lead of clothing labels such as Jack & Wills and associate the label with social events regularly attended by the target market.
Look towards funneling profits back into helping the target market.
Offer mentoring programs for students, similar to that of Rolex.
Offer scholarships to international students from underdeveloped countries.
Conducting a financial overview of the company.
Competitive analysis and organizational planning - helps understand direction and how similar companies that are successful operate.
Executive team working on expanding further within the Asian and European Market
Diversifying their Target Marketing
Teens - College students
New Strategic positioning - involving the 4 P's of the marketing mix
Communication strategy redevelopment.
Defining a clear message to all stakeholders.
A Leader of luxury clothing market for 40 years
Premium price products
The fit and style of RL clothing is favoured by older men and women
Key market are professionals over 35 in a high wage bracket.