Ralph Lauren Cbbe Model
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1.0 Introduction
Polo Ralph Lauren became the single most profound industry-transformer of the past century by manoeuvring his product offering, brand extension and marketing to evolve from a neckwear designer into a brand ambassador for an entire lifestyle, thus creating the “Lifestyle Industry” (Eurbanista, 2009). What began 40 years ago with a collection of ties has grown into an entire world, redefining American style (Polo Ralph Lauren, 2011).
The sources of brand equity are related to the creation of the high level of brand awareness and a positive image in consumers mind (Aaker, 1996). The purpose of the following report is to examine whether or not Polo Ralph Lauren achieved the mentioned goal trough the steps of the CBBE model. The last paragraph will provide recommendations on brand management for Polo Ralph Lauren.
2. 0 Applying CBBE Model to Polo Ralph Lauren
In order to find out how strong the image of the company and what its position in the market is, the brand has been scrutinized by using the Kellers Customer-Based Brand Equity Pyramid.
Brand Salience
Brand salience relates to aspects of consumer awareness of the brand. Brand awareness refers to consumers ability to recall or recognise the brand under different conditions (Keller, 2001). The objective of the firm is to have high recall and recognition for their brand identity or name and logo (Zaichkowsky, 2010). PRLs brand name and Polos logo are both recognisable and highly regarded in the fashion world (Johson at al., 2005). The upscale image of a polo player fits the core identity of PLR, which includes a country club lifestyle characterised by good taste; classic, elegant, understated clothing; and exceptional quality and craftsmanship (Aaker & Joachimsthaler, 2000). By fixing higher prices to his collections, Ralph Lauren wanted to position his product as luxury and high quality in the mind of consumers in term of meaningfulness. According to Mintels report Consumer Attitudes Towards Luxury Brands (2011), over four in ten (43%) Britons think that luxury brands are characterised by having an expensive price tag, rising to half (51%) of over-25s.
PRL represent a strong brand with considerable awareness among consumers around the world (Datamonitor, 2009). PRL was ranked 99 as the best global brands of 2007, according to Interbrand (Interbrand, 2008); and the No.1 designer brand, according to Womens Wear Dailys annual ranking of the 100 most recognisable brand names (Karimzadeh, 2010). This confirms that the brand is well recognised and easily recalled.
2.2. Brand Imagery
Brand image is the overall mental image that consumers have of a brand, and its uniqueness in comparison to the other brands (Lee at al., 2009). PLR is a premier global luxury brand built around the image of the classic upper – class American lifestyle (Barker, 2000). However, over the years, as PRL released more lines targeting different age groups of men and women within the brands style, the ads were adapted, always maintaining a cinematic style. All advertising images continue to represent a chapter of the American story, from an elite perspective. Lauren himself had come to personify the lifestyle he was selling, and appeared in many ad campaigns and in various magazines with his family (Eurbanistica, 2009). According to Aaker (1996), the brand-as-person perspective suggests a brand identity that is richer and more interesting than one based on product attributes.
PLR full-price retail stores are located in prime retail areas, reinforce the luxury image and distinct sensibility of the brands and feature exclusive lines that are not sold in domestic department stores (Polo Ralph Lauren Corporation, 2011).
Products are consumable for experience contexts. These product consumption acts create experiences that serve as a means to allow a person to break away from unwanted social realities, even if only temporarily (Labrecque at al., 2011). When people buy LR products, it gives them the feeling of having class and stature. “They are buying a piece of his world.” (Caminiti, 1996).
Brand Performance
Brand performance relates to the ways in which the product or service attempts to meet customers more functional needs (Keller, 2001). PRLs functional benefits include increasing the luxuriousness of customers life with their high quality items.
PLR collections quality and value standards are exceptionally high. High quality is naturally associated with durability and longevity of clothing is important for most consumers (Mintel, Designer/Upmarket Clothing, 2010). All lines of PRL represent the idea of the American Aristocrat, rich in European heritage with a mix of New England urbanity and rugged country flair. The look embraces a style that is sporty, preppy, wealthy, travelled, and timeless while remaining modern (Brodie & Levinstein, 2007).
Luxury brands are known for their premium prices, in part because a premium price contributes to the exclusivity factor (Hameide, 2011). PLR launched his own line in 1967 with one item of clothing for sale-a fat necktie that retailed for $7.50 when the going rate was $2.50 (Brodie & Levinstein, 2007). It was a risky manoeuvre as the ties were double the width (and price) of most rival designs, but the price added a layer of exclusivity to the Polo name, and the expensive silk used ensured that people knew they were paying for a high quality product (Perett, 2011).
In 2006, Ralph Lauren introduced the first interactive, shoppable windows in their New York stores (Schomer, 2011). The company has added global reach to the brand by launching eight new international websites, all in local languages (Datamonitor, 2007). In 2009, was produced an online-only fashion show for Rugby brand that, for the first time ever, allowed viewers to shop the looks in real time (Schomer, 2011). These innovative moves underlined the serviceability in a positive significant manner.
2.4 Consumer Judgements
Brand judgment focuses on customers opinions based on performance and imagery (Kotler, & Pfoertsch, 2006). PRL customers believe they cannot find the same high quality and likeable style and design, the same innovation, the and they cannot trust any other brand like PRL because it has perceived as meaningful and as the best brand in order to satisfy their needs and wants. What helps to enforce these concepts explained