2. POLO RALPH LAUREN
COMPANY OVERVIEW
Started by Ralph Lauren in 1967 when he took out a $50,000 loan to
start his tie company.
Ralph Lauren today is one of the most recognizable brands in the
world and has an estimated net worth of $5.8 .
Company Website: http://www.ralphlauren.com/frontdoor/index.jsp
Has Men, Women, and children lines that vary from swimwear to suit
wear
3. COMPANY OBSTACLE
While the online market is becoming a
major source of most companies sale
revenues,
How will Ralph Lauren keep the
prestige they are known for.
-What tools would they have to
employ to keep the brand
equity the same?
4. CORE COMPONENTS
Implementation of Social Media Tools
• Use of Company Representatives
Interactive Marketing and Webpage
design
Mobile Promotional Elements
5. SOCIAL MEDIA
Twitter
This is the most instrumental part of the new online approach. Not only must we safeguard our brand image, but we must safeguard our
name in general. By filling protective claims on brand name, logo and image we stay away from impostures. We must delete all fake accounts
must be eliminated from spreading false rumors of company information. A company employee, or publicist will be handling these affairs
on a need be basses. We will implement a bullet proof plan what will to take charge of a new account to compose tweets that fill consumer
information needs ,propose promotional activities, and other publications taken by the corporation.
Facebook
By utilizing the most popular website of all time arguably, we can connect with many more users cheaper, faster, and in a more comfortable
way. We don’t want to bully our users on this page, but simply promote style tips and promotional ideas that we want to inform them
about. The fan page will now be offering weekly coupons, discounts, contests, sweepstakes, and free promotional products.
Google+
A new account has already been made that will incorporate the Google users and the tracking tools that they exclusively present us. This
will be much like the Facebook page and will offer the same promotional feeds to consumers.
********NOTE- Presenting in all these forums can be complicated and cluttered. IT is imperative we are CLEAR AND CONSISTANT
with our messages.
6. INTERACTIVE WEB DESIGN
Ralph Lauren shows how a high-fashion brand can use a variety of social media content
to encourage consumer discussion. While content around their revolutionary new 4D Light
Show engages consumers, the Daily Gift ideas actually get consumers discussing the brand
and product range through various outlets on twitter or on their Facebook where they open
discussion and promotions to their fans.
They are interacting, making a conscious effort to engage with their devoted
customers, while maintaining the "classy" brand image. The only thing I
would recommend is promotional tools and sales oriented messages to the customers
through the social media outlets.
I would focus solely on a Facebook/twitter/tumblr/pinterest campaign to connect with
the modern day individual who is looking through style tips, or sale tips. Overall, Ralph
Lauren is making a conscientious effort with social media and SEO.
7. MOBILE COMMUNICATION
With increasing awareness in phone applications, it seems as if
every company provides their consumers with an interactive
application that they can buy directly from their phone, see future
lines that are coming out, and even promotional codes.
Cash-Cow : Target Market at Exponentially Lower Price
Globally Reached
Constantly connected, can constantly listen, can constantly sell=$
8. MEASURING TOOLS & BUDGET
Success will be based upon the measuring tools we will set up, and by
LISTENING to the consumers, as they are going through the same evolution of
Social Media that we are.
• Focus Groups, Surveys, ROI, SEM, Response to New Strategy, Sales Profits
Budgeting Plan based upon amount in Final Marketing Plan (10 Million)
• Having an enormous advertising/marketing budget, they could easily take the
part of their $10 million dollar global ad budget and make an application that
fits into the global plan mentioned above.
• In developing this one universal app, they provide cost saving
initiatives, provide a unique opportunity for customer coupons and other
various promotion ideas
9. CONCLUSION
Polo finds themselves in a interesting situation, while companies
are striving to catch up to the changing online world, Polo seems to
be the front runner of ideas for other to go buy.
Tweaking minor practices, and building on their successes, they
have a tremendous opportunity to be the innovator every fashion
company they compete against.