The Brand of Ralph Lauren Rugby Failed in the Market - Essay Example

Identify a reason(s) for failures of the Ralph Lauren Rugby and propose a marketing strategy for re-launching the brand This essay mainly highlights the reasons for which, the brand of Ralph Lauren Rugby failed in the market of America as compared to many other rival players. Other than this, the essay also proposes a strategic rebranding of the brand with the help of service marketing mix. Along with service marketing mix, a marketing strategy is also described that may improve the market share and profitability of the brand. Furthermore, such type of marketing mix strategies is developed in order to improve its position and brand value of the brand of Ralph Lauren Rugby in the market. Other than this, the brand of Ralph Lauren Rugby might increase its customer base and loyalty in the market as compared to its rival contenders. Only then, the brand of Ralph Lauren Rugby might regain its competitiveness and position in American market. Table of Contents Abstract 2 Table of Contents 3 Introduction 4 Brief description of Ralph Lauren Rugby 4 Discussion 4 Reasons for the failure of Ralph Lauren Rugby 4 Marketing strategy for re-launch of Ralph Lauren Rugby 8 Conclusion 12 References 13 Ebay.co.uk, No.Date. . 13 Details about  BNWT Abercrombie & Fitch Women’s Sonia Plaid Wool Tartan Shorts US 4 UK 27W. [Online] Available at: 13 Bibliography 15 Appendices 16 Introduction Brief description of Ralph Lauren Rugby Ralph Lauren Rugby is recognised as one of the popular clothing brand that offers trendy and modern designs of apparels and dresses, as per the style of the citizens of America. Since, 2004, the brand of Ralph Lauren Rugby is trying to satisfy the demands and requirements of the Americans with the help of its wide range of Preppy/Rugby designed clothes. Other than this, the brand of Ralph Lauren Rugby positions itself as a company with distinctive image by offering a wide range of Preppy/Rugby inspired lifestyle apparel for male and female individual of age groups of 16 to 25. Due to the presence of these fashionable clothes, the net income and total sales increased by a significant extent as compared to many other rival brands. However, in spite of wide range of trendy products, the brand of Ralph Lauren Rugby failed to retain its brand value and portfolio in the market. This essay mainly tries to highlight the reasons for the failure of the position of the brand of Ralph Lauren Rugby. Along with this, a re-launching marketing strategy for the brand is also proposed so as to enhance its sustainability in the market. Discussion Reasons for the failure of Ralph Lauren Rugby In spite of comprising of a legendary position in the segment of fashion industry, the brand of Ralph Lauren Rugby failed to retain its image and reputation for a long time. The prime reasons that lead to the decline of the market share and equity of the brand of Ralph Lauren Rugby are presented below: Niche market, which is too narrow: the company of Ralph Lauren Rugby positions itself a premium brand and so its targeted customer range is quite small, i.e. 15-25 years of age as compared to many other successful brands like A&F, Jack Wills and Same Style. Moreover, the style of these high priced apparels is quite old fashioned, which is not preferred by the customers of today’s economic scenario (The Ralph Lauren Corporation, 2012). Therefore, due to high price, the level of competition among the competitors became quite high, that reduced the total sale and revenue of the brand of Ralph Lauren Rugby that reduced its brand value and distinctiveness in the market. Furthermore, small range of customers also made the positioning of the brand quite unclear in the market among others. Moreover, due to niche targeted audience, the level of awareness reduces to a significant extent. As a result, the demand of the products and the rate of profitability of the brand of Ralph Lauren Rugby also reduce day by day. Therefore, due to lack of customer base, the rate of competitiveness and sustainability of the brand declines that hinders its market growth and consistency as compared to many other rival contenders. Hence, due to lack of sustainability of the brand of Ralph Lauren Rugby, its position and reliability faded in the market. As a result, its position and equity declined and failed to retain its dominance in the market among other rival players (The Ralph Lauren Corporation, 2012). Lack of identity: the brand of Ralph Lauren Rugby also lacks its identity in the market. This is mainly due to the presence of wide range of products of quite high price ranges. As a result, only a small segment of premium customers get attracted towards the products of the brand of Ralph Lauren Rugby and so its dominance and identity becomes quite low. Moreover, due to lack of identity in the market, its profit margin and awareness also reduces resulting in loss of its supremacy and popularity (The Ralph Lauren Corporation, 2012). High pricing: the prices of the products of the brand of Ralph Lauren Rugby are extremely high as compared to Jack Wills and A&F as presented below. The price of NWT Jack Wills Charlton Dress Red Plaid Tartan costs $ 79.00 whereas Women’s Sonia Plaid Wool Tartan Shorts of A&F costs £6.49 as compared to Ralph Lauren Rugby (ebay.co.uk, n.d.). The total demand of the products of the brand of Ralph Lauren Rugby is quite low. As a result, the brand failed to enhance its productivity and total revenue thereby affecting its prosperity to a considerable extent as compared to many other rival contenders (The Ralph Lauren Corporation, 2012). Lack to reach the customers on their terms: in this age of diverse and multicultural era, promotion is the most essential requirement. So, most of the brands try to offer more concentration over marketing or promotional campaigns. But the brand of Ralph Lauren Rugby failed to enhance the awareness level of the target customers of age-group: 15-25 years. This is mainly due to lack of promotional campaigns or off message tweeds. As a result, the brand failed to attract a wide range of customers of higher lifestyle and standard that declined its dominance in the market. Along with this, due to lack of customer bases, the rate of profitability and total sale of the brand of Ralph Lauren Rugby also reduced that hindered its market growth and portfolio among others (The Ralph Lauren Corporation, 2012). (Source: Dailymail.co.uk, 2014) Lack of unique value: in order to create a distinctive image and position, each and every brand desire to develop a unique value for its products. However, the brand of Ralph Lauren Rugby lacked to generate a unique value for its products that declined its image and market share. As a result, the brand of Ralph Lauren Rugby failed to create a differentiated image and identity within the minds of the customers. So, the level of reliability and loyalty of the customers declined day by day that hindered its efficiency in the market to almost 15 percent as compared to other rival players. Therefore, the brand of Ralph Lauren Rugby failed to retain its market value and consistency that enhanced its business challenges and threats from new entrants and substitute products (Kazmi, 2007, pp. 876-881). Inability to develop innovative and trendy fashion clothes: as the taste and preferences of the customers is changing every now and then, so the brands operating in this segment like Ralph Lauren Rugby need to update their preppy styled products. Only then, the brand of Ralph Lauren Rugby might become successful to attract and satisfy the changing needs and demand of the customers of this age. As a result, the brand of Ralph Lauren Rugby might retain its dominance and popularity within the minds of the customers thereby amplifying its brand value and total revenue as compared to others. However, it might be possible, only if the brand comprises of extremely skilled and talented designers. But, unfortunately, the brand of Ralph Lauren Rugby failed to recruit, experienced fashion designers, who may offer trendy designs. Due to which, the brand failed to attain a significant position and uniqueness within the minds of the customers that hampered its development (Kazmi, 2007, pp. 921-934). Low quality of apparels: the quality of the apparels of the brand of Ralph Lauren Rugby is also quite low. Due to which, it is not liked or preferred by the customers of America. This is also another important reason that affected significantly thereby hindering its image and position in the market as compared to many other rival contenders. As a result, the dependency and trust of the customers over the brand of Ralph Lauren Rugby reduced day by day that declined its revenue and total sale (Kazmi, 2007, pp. 552-567). Thus, it might be clearly stated from the above mentioned points that the brand of Ralph Lauren Rugby failed mainly due to its preppy looked, high priced products. Along with this, lack of marketing campaigns is also another effective reason for the fall of the brand of Ralph Lauren Rugby in the market of America among others. Marketing strategy for re-launch of Ralph Lauren Rugby In order to re-position an brand, in this age of competitiveness, it’s extremely essential to utilise the 7P’s of marketing (Grant, 2005, pp. 546-556). It is one of the best service marketing strategies that help an brand to re-gain its market share and prosperity among other existing rival players. Similarly, in case of Ralph Lauren Rugby, the strategy of 7P’s is used, which is presented below: Product repositioning- the brand of Ralph Lauren Rugby might try to change its style of Preppy look to trendy and modern look. So the extreme fashion conscious individual might get attracted towards the designs that may improve its market share and total demand (Hill, 2010, pp. 675-687). Along with this, by introducing varied types of trendy clothes, the profit margin and total revenue of the brand of Ralph Lauren Rugby might get enhanced to a considerable extent as compared to others. Moreover, the brand of Ralph Lauren Rugby might try to add varied types of high quality of casual designed clothes so as to improve its demand and loyalty in the market (Guillén & García-Canal, 2012, pp. 324-334) Price reposition- the brand of Ralph Lauren Rugby might try to offer high quality, fashionable designs at an affordable price. So that the products of Ralph Lauren Rugby might get purchased by the individual of all income groups and lifestyles, that may improve its total demand and total revenue in the market. Such type of pricing strategy might also improve the image and brand value of the brand of Ralph Lauren Rugby in the market. Other than this, the brand might also try to improve its position by offering special discounts in festive seasons. This might help the brand to attract a wide range of customers of varying lifestyles that may enhance its market share and equity (The Ralph Lauren Corporation, 2012). Promotion- the brand might try to offer more concentration over marketing campaigns. However, this might be done with the help of flagship store and social media. Only then, the level of awareness of the customers might get enhanced thereby amplifying the total sale and demand in the market. Moreover, the customers might get the updated information over the launching dates of the new designs of different seasons like spring, autumn, summer etc. This might act positively for the brand thereby increasing its demand and total sale. Better availability of the products- the products of the brand of Ralph Lauren Rugby needs to enhance its distribution channel. As a result, the availability of the products in retail outlets and super or hyper markets might get enhanced. This might prove extremely effective for the brand to improve its total demand and profitability of the brand of Ralph Lauren Rugby in the market (ESOMAR. 2008, pp. 234-245). Experienced and skilled staffs- the brand of Ralph Lauren Rugby might try to recruit highly experienced and skilled staffs so as to assist the customers, at the time of purchasing. This might prove effective both for the customers and the brand in long run. Better assistance might improve the satisfaction and reliability of the customers towards the brand that may amplify its net income and profit margin. Apart from this, the store locations or layouts need to be exactly similar in nature so as to present a unique look and exclusive shopping experience to the customers. Moreover, the stores or outlets might display the information regarding special discounts or availability of sizes of the products through visual representation so as to increase the level of awareness of the customers. Proper packaging and labelling of the products- in order to improve the market share and brand value of the brand of Ralph Lauren Rugby might try to make proper packaging and labelling of the products. Only then the satisfaction rate of the customers might get enhanced that may improve its image and market value. Proper customer services- the brand of Ralph Lauren Rugby might try to offer best customer services so as to improve the perception of the customers over the brand. Only then, the position and brand image of the brand might get enhanced thereby amplifying its revenues and profitability. Apart from this, due to improved customer services, the brand might be preferred by the customers that may enhance its demand. As a result, its range of customer base might get increased, that may improve its position and competitiveness in the market (Drummond & Ensor, 2006, pp. 123-134). The types of advertising which can be used in this regard are social marketing and strategies to attract more customers into the shops. The brand can take the initiatives to advertise the product in social networking websites like Facebook and LinkedIn. In this fashion they can get hold of more customers and the customers will also get to know about the re-launch of the products. Secondly they can put up their stores in prime locations of the country but it should be kept in mind that the stores of the brand are far apart from the stores of the competitors. They can identify a specific group of customers who they can target as their purchasers. Hence, in order to re-launch the brand of Ralph Lauren Rugby in the market of America, cost leadership strategy might be most effective as compared to discounted pricing or competitive pricing. This is because only then the brand of Ralph Lauren Rugby might become successful in attracting a wide range of customers of different income groups that may improve its profitability and net income in long run among others. Hence, only then, the brand of Ralph Lauren Rugby might become successful to create a distinct image and differentiated position in the market among others (Kotler & Keller, 2012, pp. 712-723). Competitor analysis A&F Jack Wills Store locations : high-ended streets Store locations: 80 areas Online presence: includes online sites Online presence: includes online sites Products: flannel shirt, jeans, graphic tees, polos, outwear, pants. Products: shirts, tweed jackets, blazers, contemporary jackets, t-shirts. Objectives: attractive products at competitive price Objectives: clothes for all at affordable price Revenue: € 45.7 million in 2011 Revenue: £ 61.9 million in 2011 Customer base: large catalogue of customers Customer base: large catalogue of customers. Conclusion Conclusively, it might be stated that in order to develop a competitive position and image in the market, an brand might try to offer differentiated and high quality of products at an affordable price, only then, the demand and total sale of the products of the brand might get enhanced. Similarly, the brand of Ralph Lauren Rugby might try to introduce varied types of trendy designs and styles so as to increase its demand and total sale. Along with this, the brand of Ralph Lauren Rugby might try to offer the products at a competitive price so as to increase its range of customers and profitability in the market. References Drummond, G. & Ensor, J. 2006. Introduction to Marketing Concepts. New York: Cengage Learning. Dailymail.co.uk, 2014. Fathers Day Gift Guide. [Online] Available at: http://www.dailymail.co.uk/femail/article-1191775/Fathers-Day-gift-guide-Forget-tie-heres-dad-wants.html [Accessed on 16th march, 2014]. EmeraldInsights, 2013. Marketing mix. Online] Available at: http://www.emeraldinsight.com/journals.htm?articleid=1728013 [Accessed on 16th march, 2014]. ESOMAR. 2008. Market Research Handbook. London: Sage. Ebay.co.uk, No.Date. .   Posts to: United Kingdom Import charges: (estimated and based on current bid) To be provided at checkout  help icon for delivery – opens a layer This amount includes applicable customs duties, taxes, brokerage and other fees. This amount is subject to change until you make payment. For additional information, see the Global Postage Programme terms and conditions Delivery: Estimated within 4-5 working days  help icon for estimated delivery date – opens a layer Estimated delivery dates [newWindowTxt] include seller’s dispatch time, and will depend on delivery service selected and receipt of cleared payment[newWindowTxt]. Delivery times may vary, especially during peak periods. Details about  BNWT Abercrombie & Fitch Women’s Sonia Plaid Wool Tartan Shorts US 4 UK 27W. [Online] Available at: http://www.ebay.co.uk/itm/BNWT-Abercrombie-Fitch-Womens-Sonia-Plaid-Wool-Tartan-Shorts-US-4-UK-27W-/251367152805 [Accessed on 16th march, 2014]. Guillén, M. F., & García-Canal, E. 2012. Execution as Strategy. Harvard Business Review Vol. 90(10). Grant, R, M. 2005. Contemporary Strategy Analysis. London: Sage. Hill, C. 2010. International Business Mc Graw Hill 8th International Edition. New York: McGraw-Hill. Keegan, 2002. Global Marketing Management. London: Pearson Education. Kazmi, S, H, H. 2007. Marketing Management. Germany: Springer. Kotler, P. & Keller, K. 2012. Marketing management. Harlow, NJ: Pearson Education. Seekingalpha.com, 2013. Analysis of Polo Ralph Lauren Corporation. [Online] Available at: http://seekingalpha.com/symbol/RL / [Accessed on 16th march, 2014]. The Ralph Lauren Corporation, 2012. Rugby Basics. [Online] Available at: http://ezielsresume.files.wordpress.com/2012/01/final-marketing-plan-for-rugby.pdf [Accessed on 16th march, 2014]. Bibliography Beall, A, E. 2010. Strategic Market Research: A Guide to Conducting Research to solve problems. Boston: Harvard Business School Press. Bradley, N. 2007. Marketing Research: Tools & Techniques. New York: McGraw-Hill. Appendices (Source: The Emerald-insight limited, 2014) Analysis of Polo Ralph Lauren Corporation (Source: seekingalpha.com, 2013) Read More