This item of assessment covers the following learning outcomes. For the full list of learning outcomes for the module, please refer to the Module Study Guide.
- Analyse how marketing concepts and principles are used in daily business operations
- Examine key marketing concepts and terminology.
- Determine how consumers make their buying decisions under various conditions, both locally and internationally, as well as online versus offline.
- Discuss findings and plans appropriately.
Part 1 Individual report – case study Ralph Lauren
You will get an experience in implementing one of several marketing concepts and principles that are used in daily business operations in Ralph Lauren and Polo products.
Ralph Lauren Corporation is a global leader in the design, marketing and distribution of premium lifestyle products in four categories: apparel, home, accessories and fragrances. Ralph Lauren's reputation and distinctive image have been consistently developed for 50 years across an expanding number of products, brands and international markets. The company's brand names, which constitute of the world's most widely recognized families of consumer brands including Ralph Lauren Purple Label, Ralph Lauren Collection, Double RL, Polo Ralph Lauren, Polo Ralph Lauren Children’s, Ralph Lauren Home, Lauren Ralph Lauren, RLX, American Living, Chaps and Club Monaco.
Ralph Lauren and Polo are synonymous. Lauren has never offered women's wear which is very suprising under the Polo moniker but has set to change. The designer will kick off his fall runway show in 2014 by unveiling about 25 looks from the new Ralph Lauren Polo women's brand which is making its debut in the fall.
The pros and cons were mulled by Lauren due to showing of Polo and Collection on one runway for some time, but decided in favour of it because, as he put it, "I love the contrast of Polo's cool eclectic spirit with the luxury and modern glamour of Collection." His fall Collection show will follow the Polo runway launch.
The recognition and strength of the Polo name amid the group's brand portfolio have given a global push to larger Ralph Lauren Corporation.
Lauren noted that "I felt like it was time that I should explode this." "I thought, 'What am I not doing? How am I going to make this company stronger? How will I define these brands?' It's not about what's expensive. The same girl that wears this will also buy Black Label and Collection. We're giving her a diverse mood that she hasn't seen."
The brand of Polo is not considered a secondary, lesser-priced line. It offers a depth of product at a wider range of price points which, comparable to men's products, is from $89 for a basic knit top to $998 for leather leggings.
The Polo women's collection will replace Blue Label, although company executives stressed this isn't a simple name change.
Lauren said that "Blue Label was a category of clothes, but not defined in the same way Polo is." "This is a clearer picture of women and girls, age anywhere from 16 to 60. Where we would have done the country look, this is about the young woman today who lives downtown and works. She's active on weekends. The sensibility of Ralph Lauren is still seen. You'll say, 'I know this is Ralph Lauren,' but it has never been defined in a major story with all the categories
There are plenty of aesthetic touch points which are: Americana, Aztec, Navajo, plaids, florals, ruffles and suedes. Many of the looks exude a sense of nostalgia, though they don't look vintage. There is also a rugged, outdoorsy element.
Lauren said that"Everyone thinks Polo is going to be preppy,". "This is not about preppy." To him, the Polo woman is "chic" and "sophisticated"; "bohemian" was another word bandied about internally.
Dresses are rendered in silk georgette, while tartans are worked in new ways. A buffalo plaid is used for a hunting jacket. A tweed cutaway coat is shown with a romantic georgette dress; a waffle knit, inspired by long johns, was used for an olive-coloured dress and shown with a patchwork flannel shirt. The accessories capture a similar vibe, including rugged bags and high-heel platform hiking boots.
In the fall of 2014, the collection will make its big retail debut, when Lauren opens a Polo flagship at 711 Fifth Avenue here, between 55th and 56th Streets, replete with a restaurant located in the former La Cote Basque space. The restaurant may or may not be called Polo - the name is still being determined - but the designer knows that it won't be a replica of his other two eateries. Lauren said that "Ralph's [in Paris] was a big hit, but it won't look like Ralph's." "This one is sportier and younger. It has a casualness."
Read the brief case study above and refer to academic literature, reputable online resources and industry examples from the Ralph Lauren Corporation’s women’s products. Analyse how using marketing concepts enables the organisation to achieve its goals.
Write a report following the structure below
Write a brief description of the selected Polo Ralph Lauren women’s products you are going to examine, and state which marketing concepts you will apply
2. Literature review
a. Identify and determine the key marketing concepts used by The Ralph Lauren Corporation explain how they are used to market Polo Ralph Lauren women’s products
Apply concepts such as Marketing Management Orientation (the Marketing Concepts, Production Orientation, Product Orientation, Sales Orientation); Marketing Orientation and Societal Marketing Orientation.
b. Examine how Polo Ralph Lauren women consumers make their buying decisions when purchasing Polo products
Apply the Consumer Decision Making Process as a framework for this answer (as below).
Need Recognition → Information Search→ Evaluation of alternatives → Purchase Decision → Post-purchase decision;
Determine how this relates to your selected products.
3. Conclusions and recommendations
4. Reference list
Part 2 Individual presentation description
Make a five-minute PowerPoint presentation that gives an accurate reflection of your individual report.
You must include the following in your slides
- Determine your understanding of marketing concepts used in your report
- Discuss, with examples, consumer buying decision-making for Polo Ralph Lauren women’s products
- Present your audience about your ability to productively and successfully research these topics.
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