Brand Management in Ralph Lauren - Report Example

BRAND MANAGEMENT: RALPH LAUREN CASE STUDY ANALYSIS Table of Contents 1.Introduction………………….………………...……………………….………………………3 Brand Salience/Awareness………………………………...……………………………....3 1.1 Depth of Brand Awareness…………………...…………………………...…………..3 1.2 Breadth of Brand Awareness………………………………………………………….3 3 .Brand Performance……………………………………………...……..………………………4 4. Brand Image…………………………………………………..……….……………………….4 5. Brand Judgment………………………………………………...……….……………………..5 6. Brand Feelings…………………………………..………….……………….…………………5 7. Brand Resonance…………………………………………..………….……………………….6 7.1Behavioural Loyalty…………………………...……...………………………………..6 7.2 Attitudinal Attachment………………….……………………………………………..6 7.3Sense of Community……………….………………..…………………………………6 7.4 Active Engagement……………….………………..………………………………….7 8. POP and POD……………………………………………….……….……………………….7 8.1 POP………………………………………………………...…….………………………….7 A) Comparative POP……………………………….…………………………..……8 B) Competitive POP……………………………..…………………………….……8 8.2 POD……………………………………………………….….……………………………..8 9. Recommendations……………………………………………...…………………………..…9 Conclusion………………………………….…………………..……………………….…...…..11 Reference…...……………………………………………...………………………………….…12 1. Introduction The name Ralph Lauren is at the core of lifestyle marketing. Ralph Lauren, established in 1967 by Ralph Lauren, is popular brand all over the world. The brand is a global key player in the design and lifestyle industry with products lines ranging from expensive to relatively expensive brands for men, women, and children clothing and also home furnishings. Commonly perceived as the leading brand that portrays the American style in the international market, Ralph Lauren has employed a whole marketing strategy, strengthening its brand equity since its inception (Weatherly, 2009). In addition, the brand sells its products all over the globe while maintaining its longstanding reputation and distinctive image developed across a wide range of products and brand markets. Through its marketing tools and high-quality brand image, the luxury brand upholds a constant relation with its customers (McDowell, 2003).This report discusses how Ralph Lauren has achieved resonance with its consumers using the Keller’s CBBE model (2003, 2008 or 2011), and the brands Points of Parity and Points of Difference. Recommendations are given on ways through which Ralph Lauren Brand can uphold its success in future. 2. Brand Salience/Awareness 2.1 Depth of Brand Awareness Everything started with Ralph Lauren’s logo. The founder chose the popular polo player as his logo due to his admiration and perceived opulence of this sport. This opulent polo player has been globally associated with the Ralph Lauren brand, and it is easy to remember (Weatherly, 2009). 2.2 Breadth of Brand Awareness In addition, Lauren wanted to position his brand in the consumer’s mind as a luxurious and high-quality brand. Prices were set high to all collections, and this explains why today consumers remember the brand as unique and high quality classic style (Joseph, 2009).In short, when consumer thinks of buying a luxurious and high-quality brand, RL crosses their minds. 3. Brand Performance In regard to its performance, Ralph Lauren brand has won itself an immense reputation in development and sale of a broad range of garments and accessories. The brand offers a variety of products to a broad range of customers (different origins, ages, and genders). Then, as a pricey and luxurious brand, it has to confirm high quality of products. The brand’s products are classed as durable and reliable. The design is inspirational, innovative and stylish. The brand has strong meaningfulness in the minds of its consumers according to the association between the diversity of the products, style and high quality. Ralph Lauren has both target genders product lines and sub-classifies them to target different age groups (Rugby target v Purple target). This diversification of the target consumers enables the brand to offer different products to different target consumers and, therefore, cover a large part of the luxurious brand market (Lauren and Carter, 2005). 4. Brand Image The founder, Ralph Lauren, has built his image such that consumers perceive him and the brand as synonymous. Since its formation, Ralph Lauren brand has stood out as an embodiment of how an organization can build strong brand equity over the years. The brand has created and developed its image across a wide ranging products and markets using an ideal lifestyle marketing strategy. The founder, Ralph Lauren, gave the company his own name and has spent his entire life controlling the business’ brand image. His personality and style is reflected in the brand image (Weatherly, 2009).In addition, the choice of implantation contributes to the brand image. The brand establishes its shops, not anywhere, but in specific strategic areas. For instance, all the official brands shops are located in capitals such as, New York, Paris, London and other posh areas. In addition, the brand’s retailers such as Harrods are luxurious departmental stores that depict the image of the brand as luxurious, prestigious and unique to the consumers (Lauren and Carter, 2005).The brand’s image is also perceived as sincere and classy as seen in its association to popular movies such as Annie Hall and The Great Gatsby (Joseph, 2009). The impressive brand image is also reflected in the choice of models. Advertisements use Asia, English and African models but maintain the main American Style choice. This contributes to the inspiring brand image around the globe (Joseph, 2009). 5. Consumer Judgment Centered on its principles of creating and selling clothing and accessories in a luxury context, the brand has gained a high-value reputation in the consumer’s minds. Further, consumers judge the brand as credible, based on its popular American style. In addition, Ralph Lauren differentiates itself from competitors by providing a unique experience and lifestyle based on the fashion of its products. The brand has also won great admiration from consumers due to its philanthropic endeavors. For example, in 1993 Polo Sport Fragrance financed the first annual Race to deliver, an event that raised finances for the philanthropic organization God’s Love We Deliver, which helps people with HIV/AIDS. The brand has also been active in supporting breast cancer campaigns, and it won the first Humanitarian Award from the Nina Hyde Centre, which was presented to the founder by Princess Diana. In 2000, Ralph brand donated $6 million towards the establishment of The Ralph Lauren Center for Cancer Care and Prevention in North General Hospital in Harlem. It still supports the initiative by donating 10 percent of proceeds from its Pinky Pony campaign (Joseph, 2009). 6. Brand Feelings The purple label, inaugurated in 1994, is a line of men’s tailored garment. The garment was made from finer fabrics with tailored shapes. The product label line along with a women version depicts a high-status image. Ralph Lauren opened its first exclusively children store in Milan during the 2002-2003 fashion season. It was the first self-supporting children’s wear store, featuring the same high quality and style of its adult polo line. This children’s line endeavours to depict joyous and cheerful feeling. In addition, the brands Rugby Line dedicated to Generation Y-Rugby inaugurated in 2004 represents a nostalgic look at the splendid league experience and the standards of a scholastic setting(Joseph, 2009). Furthermore, the brand association to the American style makes consumers around the world feel proud and confident as they get a sensation of living the American dream. 7. Consumer Brand Resonance 7.1 Behavioural Loyalty Behavioural loyalty is high. Ralph Lauren brand has maintained high sales volume even during economic downturn. As a leader in the luxurious market, the brand has completely achieved behavioural loyalty with its customers. The consumers are so attached to Ralph Lauren brand such that they would buy it even in moments of economic crisis (Weatherly, 2009). 7.2 Attitudinal Attachment Attitudinal attachment can be claimed to range from moderate to high. Through factors such as uniqueness in the luxurious market, a wide range of products, impressive image achieved through various strategies, and its famous American style, consumers love the brand. They are attached to it, and they feel proud to be identified with it (Lauren and Carter, 2005). 7.3 Sense of Community The brand’s success in establishing a sense of community can be rated as low. There is no evidence of adequate strategies in place to make the consumers’ feel part of the fraternity with respect to the brand. 7.4 Active engagement This resonance dimension ranges from moderate to low. The brand’s popularity has been substantially achieved through word of mouth as customers with experience with the brand recommend it to others. The brand is substantially active in the social media. In addition, the company has achieved this resonance dimension through its website where consumers shop online and can rapidly adopt the brand according to the demand (Joseph, 2009). 8. Points of Difference (POD) and Points of Parity (POP) 8.1 Point of Parity A) Comparative POP Ralph Lauren is a luxurious brand just like its competitors. It designs garments and accessories to respond to the immense demand just like its competitors do. It offers product lines that are common to other brands in the luxurious market, polo, sweaters, skirts, dresses, Knits and ties, pants, shorts, denim jackets, suits, belts, bags, hats, gloves, scarves, outwear, sleepwear, handbags, shoes , fragrances and jewelries accessories (Weatherly, 2009).The brand is diversified, but it offers common product lines in the market. Ralph Lauren is a pricey brand that targets audiences looking for specific purchases in particular atmospheres but, nevertheless, the brand is deemed exclusive. In the consumers mind, the high prices are an assurance of high-quality products and services. Luxurious brands like Ralph Lauren are perceived to offer classy quality products. B. Competitive POP The brands unique association with its founder Ralph Lauren sets itself apart from other competitors. He gave the brand his own name, and he has actively spent his life improving the brand through creativity so that it fulfills his vision. The height of his creativity can be seen in his marketing strategies. For instance, after launch of the Polo Sports line, Lauren was quick to observe that a black model appearing in the company’s campaign advertisements would render the brand more appealing to the black Americans, so he introduced Beckford as a new model to his mostly Caucasian team of models. The change in advertisement style won the brand a new ethnic market (Joseph, 2009). Further, his personality that has won his enterprise numerous prestigious awards is reflected in the brand image. His history narrates of a marketing genius who was so focused to establish a formidable brand. From a simple concept of selling ties to the launch of high-end garments and accessories, Lauren displays an aspirational and classically iconic brand with a unique attitude of its own (Joseph 2009) .As literature puts it, his biography is an integral component of his brand and without him, the clothing would be worthless (Gross, 2003).The brand is, therefore, a trend setter by its founder’s lifestyle marketing acumen. The brand is further depicted as presenting the American dream in the global market, and it is, therefore, connected with living the American dream. 8.2 Point of Difference As a popular luxury brand in lifestyle market, Ralph Lauren differentiates itself from its main competitors such as Tommy Hilfiger and the Jones group. There are several points of differentiation that culminate to convincing consumers that Ralph Lauren is the brand of choice: firstly, Ralph Lauren is known for its outstanding website (RalphLauren.com). This well-constructed website presents the different retail stores around the world, the various other sub-brands such as Rugby and Purple Labels, Polo Golf, Polo Black Label, Polo jeans among others. Through the website, the company responds to the customers’ needs and illustrates the history of the Ralph Lauren brand and all classes of products offered (clothes, fragrances and home furnishings), (Ralphlauren.co.uk, 2014). Ralph Lauren also has an online magazine (RL Magazine) to maintain a constant relationship with its customers who are fashion oriented (Weatherly, 2009). Secondly, Ralph Lauren depicts itself as a brand representing class and status. It is associated with affluence and high social class. First, its retail stores are located in strategic affluent cities such as New York, Paris, London and Moscow. The brand is also highly priced compared to competitors, this being in line with Ralph Lauren’s opinion that if the prices are higher, the consumers will perceive the quality as higher. Further, the brand’s polo log associated with the opulent lifestyle of the sport adds to the high quality and luxurious perception of the brand in the consumer’s mind (Joseph, 2009). 9. Recommendations Ralph Lauren is undisputedly a leading brand in the Luxurious fashion market. The brand has good marketing strategies and strong brand equity. However, it needs to lay down strategies that can enhance its current market positioning and guarantee continued success in future. Ralph Lauren should be more adaptive to the technological development. In this respect, it can consider developing technological tools such as mobile applications where customers can directly select their desired purchases, design their styles and colours. Such mobile applications could also be used to provide customers with services such as alerts on discount offers and reminders of where they are supposed to park their vehicles. Secondly, to improve its communication strategies with consumers, Ralph Lauren should be more active in social media such as Facebook, twitter for all its product lines. Most brands are using social media that are the modern and cost effective channels of communicating with consumers (Riley, 2010).Ralph Lauren being a top of the range brand in the luxurious lifestyle market should be a pacesetter in using social media to provide information, advertise and update news. Thirdly, the brand is mainly perceived a luxurious brand with a heritage and, apparently this is one of its strengths (Weatherly, 2009). The brand scores high in making unique fashion garments for a wide range of consumers in terms variables such as sex and age. However, the brand should focus on keeping in line with fashion trends. Young people and teenagers are looking for new fashion clothing. Developing a tendency to create new fashion collections according to the young people tastes would be a valuable asset for the brand in future. Fourthly, the brand should consider further diversification of its products (Kapferer, 2008).Cosmetics could be a good option. The brand is already diversified in garments and accessories, fragrance and home furnishings, but it lacks any cosmetic product. Introduction of this particular category could give Ralph Lauren a firmer grip on its leadership in the market in the face of rising competition in lifestyle market. Ralph Lauren should consider joining numerous other brands that have invested in the bio-diversity. Such a move would position it as an environmental friendly brand and enhance its image. Currently, environmental care is a pre- occupation in all industries all over the world. Many organizations are actively engaged in environmental protection such as by use of environmental friendly manufacturing processes and recyclable materials (Riley, 2010).Ralph Lauren as a market leader should spearhead these environmental protection initiatives. Ralph Lauren is currently perceived as an expensive brand for the affluent people. This resonates with the founder’s philosophy that high pricing leads to high-quality perception of the brand in the consumers’ mind. As much as this assertion is true in line with particular principles of marketing, failure of the brand to appeal to the low-income earners can cause a drop in its sales in future. To counter this potential risk, Ralph Lauren should review its pricing strategies in order to erase the consumers’ view of the brand as pricey. In the wake of competition that will certainly be more robust in future than today, low-income earners will have many options for their lifestyle products shopping. It is also not guaranteed that RL will be able to sustain its current customer loyalty with its high pricing while they have options for the same quality for less spending. Conclusion Ralph Lauren brand stands out in lifestyle marketing through its pricing strategies and image of high quality and luxury achieved over the years. Its founder Ralph Lauren has worked to improve the brand by giving key focus on its image in order to strengthen brand equity and appeal to high-end consumers. As a popular brand and leader in the luxurious brand market, Ralph Lauren has reasonably achieved resonance with its consumers. The brand has also differentiated itself by its point of parity but remains competitive in its unique lifestyle collections. Ralph Lauren can uphold its position as a leader in the future by implementing strategies that will adapt it to the changing lifestyle marketing conditions. Bibliography Gross, M. (2003). Genuine authentic. New York, NY: Harper Collins Publishers. Joseph, H. (2009). Band Story: Ralph, Vera, Johnny, Billy and other Adventure in Fashion Branding. Fairchild Books. Kapferer, J. (2008). The new strategic brand management. London: Kogan Page. Lauren, R. and Carter, M. (2005). Diary of a collection, Ralph Lauren, Fall 2005. New York, New York: Ralph Lauren Publishing. McDowell, C. (2003). Ralph Lauren. New York: Rizzoli. Ralphlauren.co.uk, (2014). Ralph Lauren UK: The Official Ralph Lauren Online Shop. [online] Available at: http://www.ralphlauren.co.uk/home/index.jsp [Accessed 13 Nov. 2014]. Riley, F. (2010). Brand management. Los Angeles: SAGE. Weatherly, M. (2009). Business leaders. Greensboro, N.C.: Morgan Reynolds Pub. Read More