Ralph Lauren Marketing Mix: Ralph Lauren is a publicly traded company with American roots. It is closely associated with lifestyle and retail since it deals with apparel and accessories. Ralph Lauren Corporation was founded in 1967 under the leadership of its creator Ralph Lauren. It is among the most well-known brands in the fashion industry. It operates through its many brand names, including Blue label Polo by Ralph Lauren and Ralph Lauren Purple Label.
Marketing Mix Of Ralph Lauren
Marketing Mix Of Ralph Lauren is brand-based. In Marketing Mix Of Ralph Lauren, We will Learn About the four key elements of Marketing Mix: products, place, price, and Promotions. By paying attention to the following four components of the marketing mix, a business can maximize its chances of a product being recognized and bought by customers. We will be discussing Ralph Lauren Marketing Mix. Below is the detailed Marketing Mix Of Ralph Lauren.
Let’s talk about Ralph Lauren Marketing Mix.
Ralph Lauren Main Competitors
- Liz Claiborne
- Tommy Hilfiger
Ralph Lauren’s official website: www.ralphlauren.global
Product in the Ralph Lauren Marketing Mix:
Ralph Lauren is a lifestyle brand associated with luxury and is recognized for its premium quality and distinctive design. It’s involved in designing, marketing, distributing, and manufacturing clothes, perfumes, accessories, and household items. Its diverse product range comprises things suitable for children, men, females, women, girls, and boys. Some of them are listed below: the following:
- Apparel – Polo shirts, jackets, sweatshirts, outerwear informal shirts, sportswear sleepwear shorts, jeans, tops, trousers and tees, denim formalwear, blazers, loungewear, swimsuits, jumpsuits and skirts, trousers, coats, vests, coats, and dresses
- Footwear – Sneakers, flats, pumps, sandals, ballets, boots, dress shoes, and casual shoes
- Accessories include belts, ties, bags and scarves, hats, socks, gloves, bow ties, and cufflinks. Blankets, swaddles and swaddles, bath accessories, and sunglasses. Eyeglasses, purses, wallets, as well as tights, leggings, and jewelry
- Fragrances – Lauren, Polo, Polo Black, Polo Blue, Polo Red, Midnight Romance, and Ralph Lauren Romance
- Home – Comforters, blankets, bathrobes, bath towels frames, lighting tabletop collection, artwork, and decorative pillows
Place in the Ralph Lauren Marketing Mix:
Ralph Lauren serves a global market, and its goods are readily available in various countries across Asia, Europe, the Middle East, North America, and Latin America. Its headquarters are in New York City in the United States. As of 2015-16, Ralph Lauren had a solid marketing network comprising operations through licensing, wholesale business, and retail outlets. Marketing, along with the distribution system, included 144 customized stores of Ralph Lauren, 493 directly-operated outlets, 272 Polo-Factory stores, and 77 Club Monaco outlets.
The company also runs concession shops in 583. It also has an international licensing agreement and manages 42 dedicated shops, 93 personalized Ralph Lauren outlets, and 133 Club-Monaco stores through it. Ralph Lauren’s flagship store is in New York City, Paris, Moscow, Tokyo, Milan, London, and Chicago. It also has a website that acts as its online store with 10 E-commerce websites for online shopping.
Price in the Marketing Mix Of Ralph Lauren:
At the end of the fiscal year 2015-16, the estimated revenue of Ralph Lauren was 7.4 billion dollars, and net earnings were 546 million bucks. It is a multi-billion-dollar business that specializes in premium and luxurious items. Ralph Lauren caters to wealthy customers of the urban society that delights in premium prices and the best quality since it signifies the status of a higher-status symbol by association. It has implemented a price that is an excellent approach for every one of its products and has assisted in generating good profits because its profit margin is significantly higher.
Promotions in the Ralph Lauren Marketing Mix:
Ralph Lauren has hired an in-house advertising and creative team that develops and implements various promotional strategies to improve and sustain its brand’s visibility within the consumer market. Marketplace. Its primary advertising medium is printed media, and advertisements are featured in fashion and lifestyle magazines. The company has also launched promotional campaigns using advertisements on TV as well as organizing events that are special events and direct-to-consumer advertising. Ralph Lauren has prioritized digital and social media platforms, such as SMS through mobiles, Facebook, Twitter, and YouTube.
The company participates in fashion shows such as Milan Fashion Week and New York Fashion week to get maximum exposure for its brand. Ralph Lauren is the official outfitter of the officials on the court at the US Open and Wimbledon tennis tournaments. Ralph Lauren is the official parade outfitter for US Paralympic and Olympic teams. Brand sponsors stars such as Morgan Pressel, Luke Donald, Jonathan Byrd, and Tom Watson. The brand has been engaged in charitable endeavors. Nina Hyde Center is co-founded by the brand dedicated to breast cancer research. It has created The Polo Fashion School so its directors can provide insight into the world of fashion for interested youth from inner cities.
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