The mission of Ralph Lauren is to provide quality products, bringing different worlds together and inviting people into they're dream and vision. They are the true innovators of lifestyle advertisements that tell a story and the first to create stores that encourage customer participation in that lifestyle.
Ralph Lauren was born Ralph Lipschitz in New York City on October 14, in 1939. He grew up in the Bronx. In 1967, he changed his name and went into business selling ties under the brand name Polo. Ralph Lauren Corporation is an upscale American lifestyle company and fashion retailer founded by American designer Ralph Lauren. The company focuses on high-end clothes for men and women, as well as accessories, footwear, fragrances, home (bedding, towels) and housewares; presents media content of its lifestyle; and it also runs a line of restaurants. Widely recognized for its Polo Ralph Lauren flagship label, RL Corporation also manages several other brands, based on the Ralph Lauren concept, under which it retails its merchandise. It also carries its subsidiary, Club Monaco. The company's media content is presented by its division, Ralph Lauren Media, LLC. RL Corporation is headquartered on the Upper East Side of New York City.
What is Marketing
Marketing is creating, communicating, delivering, and exchanging offering that have value for customers.
According to Chapter 1 of MKTG 5, 2012 Student Edition, 5th Edition, explains that the fundamentals objectives of most businesses are survival, profits, and growth.
As consumers living in a world that is driven by advertising, expectations are high when it comes to being a valued customer. Our MKTG book explains the differences between Sales and Market Orientations and why they are substantial.
Sales Orientated businesses is all about the end product which is "profit". This type of marketing strategy shows the lack of needs and wants of the marketplace. If a businesses cannot convince the people why they should buy a product or service that is neither needed to them, then a customer should not feel forced to buy a product that doesn't fit his needs. As a consumer, we want to feel that we are in an enviroment that cares about us enough to build a long last relationship, not to sell a product for the sake of the day's sales goals.
Market Oriented business doesn't focus on the sales but focuses on a customer's decision to purchase a product. To obtain this information about the product, analysis focus keenly on customers, competitors, and markets. This type of marketing is geared towards a customer needs and wants, and also focus on the company's objectives to keep a long lasting client. Businesses of this nature that are customer oriented sacrifice for the benefits of their customers while giving their employees empowerment to meet the needs of the company and the customer.
More organization should apply the Market Orientation philosophy and give the customers what they need. Consumers are students of a new product, they don't have an understanding what the value is of that product unless explained and if it suits their needs.
No comments:
Post a Comment