Report on Ralph Lauren Corporation's Marketing Strategies and Concepts

This report provides a comprehensive analysis of the marketing strategies employed by the Ralph Lauren Corporation. It begins with an introduction to marketing concepts and terminology, specifically focusing on their application within the company. The main body of the report delves into the marketing strategies and programs used by Ralph Lauren, assessing their effectiveness in achieving objectives and evaluating the ethical considerations involved. It then explores the marketing concepts and principles, including the 7Ps and STP (Segmentation, Targeting, and Positioning) model, used in the company's operations. The report also examines the relationship between marketing functions and other functional areas within the organization, highlighting cross-functional relationships. The analysis covers product strategy, branding, and promotional strategies, providing insights into how Ralph Lauren positions itself in the market. The report concludes with a summary of the key findings and their implications for the company's marketing approach.

Ralph Lauren and Polo

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
a) Marketing Concepts and terminology applicable to organisation..........................................3
b) Marketing strategies and programs of organisations helped for achievement of objectives
and explaining if objectives are achieved in ethical manner.......................................................5
c) Explaining marketing concepts and principles used in organisational operations..................6
d) Relationship of marketing functions to other functional areas in organisation and
identifying cross functional relationship of marketing and other department in organisation. . .8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing is the total sum of activities that is involved in transfer of goods and services
from seller to buyer which includes shipping, advertising, selling or storing (Eckhardt and et. al.,
2015). Marketing principles are used for optimising market performance of existing goods in
order to launch products successfully into new market. In order to get success in competitive
market, it is very essential for organisation to follow all marketing practices for achievement of
goals and objectives. The given assignment is based on Ralph Lauren Corporation which was
founded in 1967 at America by Ralph Lauren. This is fashion retail which deals in variety of
products such as luxury clothing, house wear, fragrance, furniture, jewellery. This assignment
highlight about concept of marketing and strategies which help in achievement of goals and
objectives. It also cover about 7P's, STP, marketing research and relationship with other
department, promotional, branding and product strategy.
MAIN BODY
a) Marketing Concepts and terminology applicable to organisation
Marketing Concept
It is the philosophy which firms should analyse in order to know about needs and demand
of customers and making decision which can satisfy them in better manner than competition.
This strategy is adopted by organisation for satisfying needs of customers, increasing sales,
maximizing profit and beating competition (5 Marketing Concepts Explained with Examples,
2017). There are different types of marketing concept which can be adopted by organisation as
per nature and size of business. This includes production, selling, product, marketing and societal
concept which helps in achievement of goals and objectives. These are explained in context of
Ralph Lauren and Polo which are given below:
Terminology
The various terminology applicable to Ralph Lauren Corporation are described below:
Product Strategy- When new product is launched in market, it is very difficult for brand
or company to determine whether product can reach to target audience or not. For that, brand
need to design product strategy. It is defined as strategy which determine all steps that brand
need to make to get success in market for new product. It is the vision of product for reaching
desired consumer and aid in deciding elements of products like marketing mix and its design.

This helps in targeting goods to right segment of people in society. It is very important to
implement product strategy as it helps in deciding right steps to be taken to make product
success. Here, Ralph Lauren Corporation need to design effective product strategy for their
goods as it deals variety for increasing sales and profits. There are seven steps which need to be
considered by organisation such as marketing mix, level of product, types of product,
differentiation, brand elements, product design, product mix while deciding strategy for goods
(What is Product Strategy? How to develop a product strategy, 2019). There are various types of
product strategy which can be used by firm such as business strategies, competitors priorities and
competitive advantages. For example, Ralph Lauren Corporation has used competition priorities
strategy for products. Under this strategy, following elements are considered such as price,
delivery, service, quality, product mix, eco-friendly products. When Ralph Lauren Corporation
decide product for their consumers then they provide high quality, service, delivering in time and
so on. As it deals in variety of goods and services which is available in 9,000 locations globally.
This company is global leader in terms of marketing, designing and distribution of high quality
lifestyle products.
Branding- It is the process which involves in creation of unique image and name for
products in minds of consumers through help of advertising campaigns with consistent theme.
The main aim of branding is to establish differentiated and significant presence in market in
order to retain and attract loyal consumers. This helps in identifying product and distinguishing t
from other services and products. Branding helps in getting recognition, increasing business
value, improving satisfaction and pride of employees, generating new consumers, supporting
advertising and creation of trust within marketplace (What Is Branding And Why Is It Important
For Your Business, 2019). Ralph Lauren Corporation uses name of “Ralph Lauren or Polo” for
their products in order expand image of company in market. This leads more secure and
identifiable products from many in market. The success of organisation credited to designing
skills, image making and marketing skills used by partner of Ralph Lauren Corporation. For
branding of Ralph Lauren Corporation, journalist and fashion critics uses words like elegance,
sophistication, tradition, integrity, sporty, pseudo-English, WASPy, mannered for describing
brand in market.
Promotional Strategy- It is finding appropriate market for goods and services and
utilisation of all different aspects of promotion like advertising, online, discounts in order to

promote products in particular market. Promotion is very essential for company to make
consumer aware about goods and services. If product is known to individual then only they
purchase it. Organisation can use push and pull strategy for promotion of products in market and
minds of consumers. The main aim of promotion strategy is to increase awareness, generate
sales, creation of interest and creating brand loyalty. This includes personal selling, sales
promotion, advertising, direct marketing publicity, traditional advertisement, online and so on.
Here, Ralph Lauren Corporation has used its first advertisements in New York City newspaper in
year 1974 and attempted to portray product as part of lifestyle (French and Russell-Bennett,
2015). It has used many lifestyle advertisement in major magazines. Through help this ads, it has
attracted many people for their product and brand. Polo which is subsidiary of Ralph Lauren
Corporation has invested he amount for these advertisements which is $15 million and $20
million per year and got returned to 2 to 3 percent of sales. The director of major fashion
magazine told that Polo has best advertising in firm because it reflects both mood and lifestyle.
b) Marketing strategies and programs of organisations helped for achievement of objectives and
explaining if objectives are achieved in ethical manner
Marketing strategies is business plan in order to reach individual and turn them into
consumers of goods and service which is provided by firm. It is type of document which lay out
timing and types of marketing activities (Kapferer, 2014). This is long term and forward
approach for planning fundamental goals in order to achieve sustainable competitive advantage.
It is very important for organisation to make proper marketing strategies and programs for
achieving their final goals and objectives. Here, Ralph Lauren Corporation has used product
development strategy and programs for their business. It is strategy in which firm deals in
existing market with new products. Ralph Lauren Corporation is global leader in marketing,
designing and distributing premium lifestyle products. There are variety of products which are
provided by Ralph such as apparels, home furnishing, accessories and others. On frequent basis,
this firm come up with new and stylish goods for their target consumer to fulfils their need and
demand effectively and efficiently. It provide product to all category of consumers such as men,
women, young, infants, boys.
Ralph Lauren Corporation is doing their business in ethical manner in order to achieve
goal and objective. As it follow CSR for society to provide them benefits. While manufacturing
products, raw materials are used in good and effective manner. All eco-friendly products are

manufactured by Ralph Lauren Corporation for their consumers so that they can survive and
sustain their business in order to earn profits, sale, revenues (Kapferer, Klippert and Leproux,
2014). The ethical way of doing business helps in creation of goodwill and brand image in
market. As Ralph Lauren Corporation is using all ethical values and practices for running their
business in competitive era.
c) Explaining marketing concepts and principles used in organisational operations
The marketing concepts and principles that are used by Ralph Lauren Corporation for
their business are explained with help of 7P's and STP which are given below:
7P's of Ralph Lauren Corporation
The marketing mix of respective organisation is given below:
Product- Ralph Lauren Corporation is lifestyle brand which is linked with recognised
and luxury by high quality and design. This is related with marketing, manufacturing, designing,
distributing of fragrances, home, accessories and apparel (Kastanakis and Balabanis, 2012). It
has diversified products in babies, women, men, boys and girls. They are as following: Apparel- Polo shirts, jackets, casual shirts, sleepwear, jeans, tops, denim, blazers,
swimwear, skirts, coats, dresses, sweatshirts, outerwear, activewear, shorts, trousers and
so on. Accessories- Belts, bags, hats, gloves, braces, bath accessories, sunglasses, eyeglasses,
leggings, jewellery, ties, bow ties etc. Home- Comforters, bath towels, lighting, tabletop, rugs, blankets, decorative pillows,
artwork. Footwear- Sneakers, pumps, ballets, flats, sandals, boots, dress shoes, casual shoes.
 Fragrances- Polo, polo blue, polo black, polo red, Lauren.
Place- Ralph Lauren Corporation serves their products in different parts of world such as
North America, Europe, Middle-East, Latin America, Asia. It has strong channel of distribution
which includes operations with help of wholesale business, retail outlets, licensing and others.
There are 144 personalised outlets of respective organisation, 272 polo factory, 493 directly
operated outlets and 77 club Monaco outlets (Katukuri and et. al., 2014). This organisation
operates in 583 concession shops and possess global licensing partnership and manage through
42 dedicated shops. Ralph Lauren Corporation has its own online store with 10 e-commerce
portal for doing shopping.

Price- During financial year 2015-16, estimated revenues was 7.4 billion dollars and net
income is 546 million dollars of Ralph Lauren Corporation. This organisation provide high
quality goods and services to consumers as it denotes status in society. It has adopted premium
pricing for their products and assist in earning revenues of organisation.
Promotion- Ralph Lauren Corporation has hired creative team and in house advertising
that creates and execute promotional policies for retaining and increasing brand awareness in
market. The primary promotional tool for advertisement is printing and ads placed in fashion
magazine and lifestyle. It has launched campaign of promotion through advertisement on special
events, television, direct to consumer. Nowadays, it is using Facebook, YouTube, Twitter and
social media for creating awareness in market regarding products. In order to get maximum
brand exposure, company has participated in fashion shows such as New York and Milan
Fashion week (Marketing Mix Of Ralph Lauren – Ralph Lauren Marketing Mix, 2019).
People- There are number of people who purchase goods and services of Ralph Lauren
Corporation such as employees, customers, government, suppliers, employer and others. These
all contribute in earning maximum profits and gain through interaction of all people.
Process- The distribution and people both responded in process of manufacturing of
goods and services. Ralph Lauren Corporation customer can buy products in simplest and easiest
way. It has implemented technology for manufacturing of goods and services for their consumers
to provide them high quality and good products.
Physical Evidence- Ralph Lauren Corporation is located in various parts of world
supplying their goods and service in order to fulfils need and demand of consumers. This is
operating business in multiple location, countries and cities. All these outlet plays an effective
role in maximizing profits and gains.
STP of Ralph Lauren Corporation
Segmentation Targeting and Positioning (STP) is strategic approach that is used in
modern marketing. This model is used for creating marketing communication plans as it helps
marketers to prioritise propositions and deliver and develop messages to target audience (Mason,
Kjellberg and Hagberg, 2015). STP of Ralph Lauren Corporation are as follows:
Segmentation- It means identifying consumer need and demand and accordingly
segmenting market. Ralph Lauren Corporation can segment market on basis of various factors

such as demographics, psycho-graphics. This has segmented market on basis of classy urban
premium apparel and accessories.
Targeting- It is process for identifying attractive segments from segmentation stage
which is profitable for business (Reichert and Lambiase, 2013). Ralph Lauren Corporation can
evaluate commercial and potential attractiveness of each segment on basis of criteria size,
money, difference, focus on differentiated and accessible. Here, target group of Ralph Lauren
Corporation are women and men from urban premium class.
Positioning- It is final process and business oriented stage where they can achieve
position and competitive advantage in minds of consumers. Ralph Lauren Corporation is famous
and renowned brand in market as it is one shop for clothing, accessories and home décor. It has
capture market through high quality, brand image and variety in products in minds of consumers.
d) Relationship of marketing functions to other functional areas in organisation and identifying
cross functional relationship of marketing and other department in organisation
Marketing function in organisation does not exist alone in business. Therefore, it is very
important to know how marketing connects with and permeates other functions in organisation.
The relationship of marketing functions to other functional areas in Ralph Lauren Corporation
are as follows:
Marketing and Research and Development- Research and Development helps in
generating new innovations, ideas and creative new goods and services. For example, fashion
industry need to analyse competitors and accordingly innovate new products through helps of
marketing. Marketers need to liaise engineers and researchers for making consumers needs to be
represented. Thus, marketing department of Ralph Lauren Corporation should creative
relationship with research and development in order to provide effective and high quality goods
and services to their target market.
Marketing and Production/Operations/Logistics- The production, operations and
logistics functions within business should work in cooperation with marketing department
(Sheng Goh, Chattaraman and Forsythe, 2013). Operation means other activities like packaging,
warehousing and distribution. Production is where products and services are made and generated.
Similarly, logistics focused on getting products from warehousing or production for retailing.
Here, Ralph Lauren Corporation need to increase production, operations and logistics with help
of marketing department for achievement of goals and objectives.

Marketing and Information Technology (IT)- With help of Information Technology
(IT) that is CRM (Customer Relationship Management) helps in doing interaction with
consumers, products, and create long term relationship with marketing company. Intranet is IT
supported process that supplies up to date information to all employees of organisation and other
key stakeholders. Ralph Lauren Corporation need to use CRM, IT system with help of marketing
for building relationship with customer in order to sale products and increase profit and
sustainability (Marketing Interfaces with other functional areas, 2020).
Cross functional relationship occur when members of team with same manager working
on same project or operation. Each and every team members has own goals and resources but
main was to solve problems and solve issues. The cross functional relationship of marketing and
other department in Ralph Lauren Corporation are as follows:
Marketing and Finance- Marketing plans requires major financial dimension. As
finance is the life blood of any organisation through all activities of business are carried out
(Smith, 2012). Here, the marketing department of Ralph Lauren Corporation forecast market and
sales and finance analyse requirement of capital, cash flow and financing needs. The marketing
mix of Ralph Lauren Corporation should be carried out by finance with help of capital
requirement, financing needs and others.
Marketing and Production- The linkage between production and marketing is dual one.
As production helps in determining capabilities, number and type of products which are
marketed. The forecasting of sales helps in determining each product and product line for
effective production operations (Terho and Jalkala, 2017). Both department work together for
achievement of goals and objectives. It is relationship among designing of new products and
facilities of production that is based on extensive market research for new product, space
distribution and time. It is very important for Ralph Lauren Corporation to do production as per
need and demand of consumers surviving in market.
Marketing and Procurement- The marketing department of Ralph Lauren Corporation
need to research regarding degree of acceptance of new materials and identification of suppliers
of raw materials and procurement department helps in new materials and equipments. This
procurement department is very essential for each and every organisation to identify raw
materials for business and achievement of goals and objectives. As marketing functions need

input from procurement for introduction of anticipated changes or raw materials in activities of
production due to changes in supply of various raw materials (Vella, 2015).
CONCLUSION
From above report it can be summarised that organisation need to make effective plans
and strategies for their operations of business. The strategy should be made for product, branding
and promotion in order to know about taste and preferences of consumers so that awareness can
be created in market. Product development strategy has been used by organisation in order to
maximum sales and revenues. For organisational operations, business has used 7P's, STP to
target particular market and segment so that firm can know about their competitors. With use of
marketing mix, enterprise can make best use of resources. Thus, it is very essential for
corporation to establish effective cross relationship with various department and areas to build
strong relationship with other more functions and achieve their final goal and objectives.

REFERENCES
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