My dad has always told me to purchase clothing that is classic. He cringes when I come home with bags from Forever 21 or H&M because he always tells me I will wear those items once or twice and then they will hang in my closet. Rather than purchasing tons mass quantities of cheap clothing from those types of stores, my dad has suggested I purchase classic items that can be worn years from now. Turns out he was right. Last week I cleaned out my closet and this was a wake up call. The items that I got rid of were worn at max five times and from stores like Forever 21. The clothing that remained within my closet were items that I had saved up to buy and planned on keeping for years to come. The brand that I love the most is Polo. Although it's pricy, I feel that the style is classic and well made. It matches with everything and always in season. I wanted to look into Polo marketing because I believe the brand is a marketing genius. They have created their brand image and it is almost always recognizable.
Polo Ralph Lauren Corp. was named the luxury marketer of the year in 2010. The lifestyle brand beat out 2nd place finisher Louis Vuitton and third place finisher Burberry. Polo Ralph Lauren Lauren has marketed themselves as a luxury brand, but more importantly kept up that reputation for many years. Their marketing could be described as excellent or consistent, and that little Polo horse always stands out amongst other advertisements.
Now it's 2012 and there are new fashion trends, emerging sales, marketing strategies, and media outlets. Classic brands are facing the challenge of staying relevant because of these challenging aspects. If they fail to keep up with the quick pace of up and coming competitors, household names will die out. Polo Ralph Lauren is an example of a classic brand that not only keeps up with competitors, but also sets trends in the retail marketing. David Lauren, Executive VP of Advertising, Marketing, and Corporate Communication for Ralph Lauren.
Lauren presented the brands strategic marketing approach during session titled, "Keeping a Classic Brand Modern," at the National Retail Federation annual convention earlier this year in New York City. Regardless of their reputation and 44 years of success, Ralph Lauren had to pursue new strategies to remain a top competitor in the ever-changing retail industry. David Lauren describes this new angle as, "merchantainment," or "the seamless blending of merchandising and entertainment" (Florletta). Merchantainment embodies a story or lifestyle, that of which can be transcended across different channels. A deep-rooted connection between consumer and brand is created because shoppers visualize Ralph Lauren's product in their personal lifestyle.
Ralph Lauren has also incorporated e-Commerce into their brand marketing strategy to keep up technology innovations. Many individuals though e-Commerce would diminish Ralph Lauren's retail stability, but it only strengthened the company. Their website allowed shoppers to access products at home or on the go, at any time. Regardless of the interactive changes, Ralph Lauren has never given up their representative characteristics of luxury, quality, and classic. David Lauren's goal was to introduce the idea that luxurious items like a gown or leather bag could be purchased online. The internet was not a place to find discounted items or coupons, but rather a convenience for consumers who did not have the ability to shop in store. Ralph Lauren is constantly updating their website and adding new features. There are an array of east to use tools and resources that showcase the whole spectrum of Ralph Lauren.
Polo Ralph Lauren acknowledged the latest technological innovations, observed consumer demand, challenged competitors, and never lost sight of their individuality. In the end Ralph Lauren is lifestyle brand that will forever (or at least I believe) be a powerhouse in the retail industry.
Fiorletta, Alicia. "Ralph Lauren Executive Explains How Retailers Can Stay Relevant In Light Of Marketing And Technology Shifts." Retail TouchPoints. Retail TouchPoints, 25 2012. Web. 4 Dec 2012.