Marketing essay on:  Environmental Analysis:

Environmental analysis also known as the Political Economic Social Technological & Legal (PESTL) analysis refers to strategic management tool which would evaluate the entire strategic management regime. In this case, this tool will help to judge the feasibility whether Ralph Lauren should go the launch of swimwear in Sydney or not. This would help in order to analyze all the factors which might affect the new campaign to launch swimwear in Sydney.The PESTL analysis would help in conducting an audit for the Ralph Lauren in order to taking into consideration the new campaign to launch swimwear in Sydney. It shall be taken into consideration that the PESTEL analysis will help the enterprise i.e. Ralph Laure in many ways. There are five main areas based upon which the strategic audit of the new campaign will be done. The five areas are Political, Economic, Social, Technological & Legal aspects. These aspects shall be taken acre off while judging the feasibility of the new campaign i.e. launch of the swimwear in Sydney (Wright, Pringle & Kroll, 1992).

Þ    Political aspect in Australia has been explained in this section of the report which might affect the new campaign to launch swimwear in Sydney. The various factors should be taken into consideration while taking into consideration the political factors. Some of them would be look into the current home market, the various legislations attached to it, ecological issues (if any), various regulatory bodies attached to it, policies of the government & its regulations along with the trade policies.Þ    The economic factor in the PESTL analysis shall also be kept in mind. Some of the factors which shall be kept in mind while launching the newly designed swimsuits for the curvy women would be the change in the levels of interest rates, trends in the home country, rate of inflation as well as growth at which the economy is growing. Based upon the Australian Government it has been seen that, the apparel industry is one of the growing sectors & the launch of the newly designed swimsuits will contribute towards the booming sector in Australia.

Þ    Socio cultural factors will play an important role in the launch of the newly designed swimsuits. Some of the factors which shall be kept in mind while launching the same would refer to the current lifestyle of the target audience, the ethical issues attached with it, taste, income of the people in Sydney, changing preferences, etc. The views of the media should also be taken into consideration while conducting the PESTL analysis. The buying pattern of the consumers should also be kept in mind which would help the organization i.e. Ralph Lauren to see whether expansion of the newly launched campaign for the swimsuits will be of some use or not.Þ    The use of technological factor by Ralph Lauren shall also be kept in mind. This factor will help to see what all up gradations within the technology shall be kept in mind in order to have a competitive edge over its competitors such as Tommy, Roxy, Seafolly, Speedo, Calvin Klein, Juicy Couture, Victoria Street, Missoni, MuiMui, D&G & La Perla. Innovation in terms of product quality, taste preferences, designing as well as the color combinations will help the organization i.e. Ralph Lauren to have an edge over its immediate competitors mentioned above.

Þ    Lastly, the legal requirements shall also be kept in mind by Ralph Lauren while announcing the launch of the swimsuits in Sydney. The enterprise shall take into consideration the feasibility analysis of the same. It must be seen that, all the legal issues or requirements should be kept in mind while expanding the entire project department & increasing its opportunities in the years to come (Porter, 2005).

Opportunity Analysis:In order to perform the opportunity analysis for Ralph Lauren and discuss the various opportunities, the SWOT analysis for the same shall be performed. This will help to see the various strengths, weakness, opportunities & threats which might come in future.

SWOT Analysis for Ralph Lauren

Þ    The first strength which is attached with Ralph Lauren is the brand name attached to it.

Þ    The apparels, accessories, footwear’s, Ralph Lauren provides with financial strength to the same.

Þ    High levels of brand recognition with the logo i.e. Polo pasted over its swimsuits, t-shirts, footwear’s provides a sense of recognition & is highly regarded amongst the fashion industry.

Þ     A high level of customer loyalty attached with Ralph Lauren provides the same with high amount of profit margins as compared to its competitors.

Þ     The brand equity attached with Ralph Lauren provides a strong customer base for the same. this has helped the customers to try their new product offerings such as swimsuits specially designed for the curvy women, scents, furnishings, cosmetics, etc.

Þ     With high levels of brand equity, Ralph Lauren has become quite sensitive in terms of the prices attached with it. This provides a strong factor in maintaining its performance during low times as well.

Þ    The next strength attached with this brand is in regards to the respectable history as well as future. A consistent charge regarding the fashion standards will help to maintain its position in the fashion as well as apparel industry.

Þ    With an ongoing increase in the competitiveness within the apparel industry, Ralph Lauren portrays new fashion lines. The new fashion lines introduced within the market have been done by keeping in mind the increased anticipation amongst the customers.

Þ    Ralph Polo has been finding out various ways which will help to introduce different ways of changing the infrastructure which will help to increase the levels of efficiency and growth of the same.

Weakness

Þ    The main weakness of Ralph Lauren is the over dependency of the departmental stores. It has been seen that, sales within the departmental stores will make approximately one third of the revenues. It has been seen that, the sales within the departmental stores can be uncertain which would lead to high levels of competitors as well as question the financial stability of the same.

Þ    The quality of the product which is being provide by Ralph Lauren or any of its competitors has been regarded as one of the major weakness for the organization.

Þ    Within the fashion industry, color combinations, design, style plays a very important role. This might hinder the future growth for the same.

Opportunities

Þ    Ralph’s Lauren opportunities can be seen with respect to the extension of the brand, specialty retail as well as expand within the international regions as well.

Þ    Building as well as extending the brand by introducing new line of products such as swimsuits, scents, etc will help the enterprise to expand its opportunities (The Blake Project, 2009).

Þ    The biggest opportunity which can be seen within Ralph Lauren is the introduction of the beach wear of the swimsuits specially designed for the curvy women in Australia.

Þ    Ralph Lauren has been rendered to as one of the premier brands which would be recognized as well as associated with high class design, quality as well as the luxury effect attached to it.

Þ    With an integrated marketing communication being used by Ralph Lauren, unique marketing strategies along with various new ideas & unique selling propositions have been implemented. This will help to provide the brand with physical extension regarding the global brand. Success of Ralph Lauren within various parts of the globe has helped the brand to be more confident as well as apply the expertise in such a manner which would provide better customer service as compared to its competitors.

Þ    Ralph Polo’s specialty retail strategy will help to provide best of the products for its customers. The design, quality of the cloth, color combination & price tags attached to it will help in order to sought out the after products within the market place (Porter, 2005).

Þ    Polo continues to increase the amount of distribution product within the stores. By adding high levels of experiences &the levels of strength in terms of leadership will help to provide a competitive edge as compared to its competitors. Coupling the right kind of merchandise with the right type of marketing support will act as a magic wand for this organization. Ralph Lauren has made significant moves to operate in the different parts of the globe (University of Oregon, 2009).

Þ    The major opportunity which lies for the Ralph Lauren store is to open up approximately 50-60 stores in couple of years in different parts of the globe such as United States, Europe, Australia, Asia, etc.

Þ    The opportunity which could be seen with respect to the expansion of the same & have international presence. This will provide Ralph Lauren to expand its wings as well as give them the opportunity to have more number of stores all across the globe. A strong as well as flexible infrastructure will further lead to the capitalization of the opportunities & grow the business within different parts of the world.Threats

There would be two main threats for Ralph Lauren which is mainly the lawsuit & competition amongst the various stores.

Þ    Competition amongst the departments: The competition amongst the various departmental stores will portray one of the biggest threats for Ralph Lauren. Ralph Lauren will have to compete with Tommy Hilfiger’s new range of apparels (including the swimsuit) and Claiborne’s.

Þ    Current Lawsuit: The lawsuit which is filed against Ralph Lauren for approximately $550 million against the licensing agreement. .Unique Selling Ideas:

Some of the unique selling ideas which shall be used by Ralph Lauren to sell the newly designed swimsuits for the curvy bodies have been discussed in this section of the write up. They are as follows:

Þ    The first strength which is attached with Ralph Lauren is the brand name attached to it. The apparels, accessories, footwear’s, Ralph Lauren provides with financial strength to the same. High levels of brand recognition with the logo i.e. Polo pasted over its swimsuits, t-shirts, footwear’s provides a sense of recognition & is highly regarded amongst the fashion industry. A high level of customer loyalty attached with Ralph Lauren provides the same with high amount of profit margins as compared to its competitors.  The brand equity attached with Ralph Lauren provides a strong customer base for the same. This has helped the customers to try their new product offerings such as swimsuits specially designed for the curvy women, scents, furnishings, cosmetics, etc.  With high levels of brand equity, Ralph Lauren has become quite sensitive in terms of the prices attached with it. This provides a strong factor in maintaining its performance during low times as well (Claudio, 2007). The next strength attached with this brand is in regards to the respectable history as well as future. A consistent charge regarding the fashion standards will help to maintain its position in the fashion as well as apparel industry. With an ongoing increase in the competitiveness within the apparel industry, Ralph Lauren portrays new fashion lines. The new fashion lines introduced within the market have been done by keeping in mind the increased anticipation amongst the customers. In the real sense, when the big brands position their newly launched products to a new set of target audience it shall not forget society’s democratic principles. It shall be noticed that, a measure of segregation shall be practiced. This will help to have various specialty stores which would help to focus upon one type of a product or a service. Advertising as well as promotions shall be done at its peak in order to make the product visible to the potential target audience. Apart from advertising & promotional strategies Customer Relation Management shall also be done which would help to have better privileges regarding the same.

Þ    The luxury brand is something that has to be earned. The greater the inaccessibility – whether actual or virtual – the greater the desire. As everyone knows, with luxury there is a built-in time factor: it’s the time spent searching, waiting, longing… so far removed from traditional marketing logic, which does everything to facilitate quick access to the product through mass distribution, with its self-service stores, self-checkout systems, the internet, call centers and introductory offers (Barker, 2000). Luxury has to know how to set up the necessary obstacles to the straining of desire, and keep them in place. People do eventually get to enjoy the luxury after passing through a series of obstacles – financial obstacles, needless to say, but more particularly cultural (they have to know how to appreciate the product, wear it, consume it), logistical (find the shops) and time obstacles (wait two years for a Ferrari or a Mikimoto pearl necklace).

Þ    Luxury is the end result of meritocracy. One of the major privileges which can be seen today is in regards to the classless societies but spreading out ways to no longer simply on birth. Therefore, the marketers try and implement various new ways of positioning their goods or services. Ralph Lauren shall preserve this status and shall try to dominate its target audience. The relationship between the client and the brand shall be regarded with much of respect and closeness. This will help to maintain cordial relationship between the same and maintain a good bond with one another. While positioning the product, Ralph Lauren shall try & maintain high levels of relationship amongst the same. This will help to touch the inner soul of the target audience & take into consideration the needs for the same (Barr, 2010).Þ    While practicing consumer marketing, the business house shall keep in mind the best positioning strategy which would help to provide a sustainable competitive advantage. The concept of unique selling proposition i.e. USP would be referred to as well.  Ralph Lauren has been referred to as one of the classy brands and hence a different positioning strategy shall be opted to position its new range of swim suits within the Australian audience. While positioning the swimsuits, one shall also keep in mind the pricing, promotional, distribution strategies which would communicate a lot about the product. Positioning has been rendered to be as one of the key functions while launching a new line of product by any of the brands. This P will help to target more number of the audiences towards it. The positioning move which shall be practiced by Ralph Lauren shall be such which would clearly state that who is the desired target audience as well as the source for the newly opened business. During the entire positioning strategy it shall be seen that, the main focus shall be on the new line of swimsuits specially designed for the curvy women. The strategies shall be such which would overpower the competitors strategy & it would be quite an easy task to meet the expected target audience is. Ralph Lauren is a luxury brand. And hence, the luxury brands do not need any comparison with comparison (Sun, 2008). For them their approach of being quite luxurious says it all. In this context, the luxury feeling attached along the new range of swim suits would be in regards to its designs, color combinations, passion to wear it, create an identity & blow a taste for it. All these shall be kept in mind which would help to attract the new target audience. Ralph Lauren’s swimsuit collection would turn out to be a brand image of bright sunshine with the help of the vivid colors, designs, quality of the cloth teamed up with the touch of the Mediterranean Sea (Chaney & Morre, 2005).

 If you want Marketing management Assignment Help study samples to help you write professional custom essay’s and essay writing help.

Receive assured help from our talented and expert writers! Did you buy assignment and assignment writing services from our experts in a very affordable price.

To get more information, please contact us or visit www.myassignmenthelp.Com