Final Project _ Report

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Davoodi Khoo 1 Amirhossein Davoodi Khoo Mrs. Tremble Interdisciplinary studies marketing 4U 06 December 2021 Ralph Lauren Shirts That Change Colors In The Dark EXECUTIVE SUMMARY Ralph Lauren would be marketing a Uniquely designed Polo shirt to the middle eastern affluent market. To mention, the entire marketing plan is based on making the most profit in less time to be able to rise financially and expand the organization. Ralph Lauren's modernized Polo shirt would be positioned as the only neon modified Polo shirt available on the market while striving to reinforce the company’s status as the leader in innovation and successful product launches

Davoodi Khoo 2 SWOT Analysis for Ralph Lauren Company Strengths - Uniquely designed product coming from a brilliant concept which improves companies popularity. - The company has a strong financial position, with annual revenues of more than $150 Million - a great budget for the plan. - An option to custom make products, the polo shirts, by consumers based on personal preferences. Weaknesses - lost position in the market as a result of the pandemic affecting products effectively and popularity. - Being an international brand, fluctuating exchange rates have a substantial impact on sales and also piracy and fake imitations are an issue. - not being focused on a company - having several branches with different names presented.

Davoodi Khoo 3 Opportunities - Profitable affluent market including handpicked consumers. - Eye-catching polo shirts can be significantly influential in minds which provides great promotional opportunities Resulting in an improvement in sales. - middle eastern market - Dubai, as a business-friendly city supports companies operations Threats - Being eaten up by well-known premium companies in the middle eastern market. - New products possible failures in case of competition over the product and the market which is in consequence of better usage of the ideas and concepts by other companies. - laws and regulations might be challenging to deal with. BRIEF DESCRIPTION OF NEW PRODUCT The Ralph Lauren brand has always been known and successful due to positive consumer perceptions of its classic designs and premium image. This time, The company appears with a modernized polo shirt meant for a consumer that values quality, style and prestige. The modification applied to the product allows the consumers to experience the uniqueness of the colour-changing neon designs at night time and capture great moments.

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Davoodi Khoo 4 MARKETING GOAL To launch a diversified promotional strategy that creates awareness and interest in our Polo Shirts for our targeted middle eastern market segment by the end of one year. POINT OF DIFFERENCE The Ralph Lauren brand's differences in comparison with other leading brands can not be described in a few words. To start, a chance is given to consumers to custom make their products. As well, the company appreciates the consumers' royalty which is achieved by the great shopping experience provided. Ralph Lauren uses such factors as its strengths to provide one-of-a-kind and creative designs for a variety of tastes which can be easily seen on this new polo shirt made. Putting the mentioned points aside, Our product is our main difference. The neon modifications applied to the cuffs, hem and placket on the shirt while keeping its classic look, are what makes this product stand out from the other products in shops. TARGET MARKET FOR YOUR PRODUCT Ralph Lauren's target market for this operation is teenagers and young adults. Moreover, the middle eastern market includes a highly educated audience and consumers. To mention, 94% success rate attaining secondary education has been achieved by the UAEs society. Such a factor would provide more brilliant promotion ideas and opportunities. The company has a great target market as nearly half of the population are aged 40 and under. As mentioned before, Ralph Lauren's products are meant for a consumer that values quality, style and prestige Which presents how Extensive our targeted market is. In easy words, in a fashion industry that is worth £33

Davoodi Khoo 5 billion, the competition would result in a greater audience which is aimed at and achieved by the companies that take advantage of the market and opportunities the best. PRODUCT STRATEGY Ralph Lauren has always been famous for providing a great shopping experience to its customers as well as its brilliant products. Talking about our product, our modifications have been chosen wisely based on the market demand. The neon modifications applied to the cuffs, hem and placket on the shirt while keeping its classic look, are what makes this product stand out from the other products in shops. To continue, our path would break the tradition of Ralph's packaging. Our packaging would be exclusively made for this product to transfer the feeling of uniqueness.

Davoodi Khoo 6 PRICE STRATEGY Ralph Lauren would be using a value-based pricing strategy to attract customers at first. Then due to the high demand expected, the strategy would switch into focusing on high-income groups to increase the prices over time by consistent sales. The strategy chosen would lead to great sales which allow the company to raise financially. PROMOTION STRATEGY Promotion is the key to every business success. Ralph Lauren uses promotional mix strategies to influence the market and raise the demand for its products. As well, the company focuses on in-store promotions such as membership discounts and gifts provided. Ralph Lauren has a long history of magazine advertisements. Models wearing our company's products could be seen all over fashion magazines. Not to forget, in today's world, social media promotions and marketing play an important role in allowing us to communicate with our potential customers. All the factors mentioned above would be resulting in more and more people trying our products and capturing great moments wearing our clothes. Overall, the promotion would be based on informing our audience about the greatness of our products PLACE STRATEGY Moreover, our company would be using B2C situational strategies to take advantage of direct channels of distribution. Ralph Lauren would be providing its product throughout its stores and online website. Not to forget, showrooms and collections play a significant role in bringing awareness about our products and boosting sales.

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Davoodi Khoo 7

Davoodi Khoo 8 Work cited UAE literacy rate 1975-2021 . MacroTrends. (n.d.). Retrieved December 6, 2021, from https://www.macrotrends.net/countries/ARE/uae/literacy-rate. Team, M. B. A. S. (2021, September 5). Ralph Lauren Marketing Strategy & Marketing Mix (4PS) . MBA Skool. Retrieved December 6, 2021, from https://www.mbaskool.com/marketing-mix/products/17156-ralph-lauren.html.

Final Project _ Report

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