Raymond is a fashion and fabric retailer based out of India, set up in 1925. It also manufactures suiting fabrics and woolen fabrics. Park Avenue, Raymond Premium Apparel, Parx, and Colour Plus are brands under Raymond.
It retails all its brands through a vast network of 700 stores in over 200 cities spread all across India and overseas. Raymond is amongst the most respected and one of the largest apparel manufacturers.
In this case study, we shall discuss the marketing strategy of Raymond through its digital presence, SWOT analysis, and also some marketing campaigns. We will also look at the marketing mix strategy, which includes the 4Ps of marketing.
So let us begin with learning more about Raymond.
About Raymond
Incepted in 1925, Raymond has been synonymous with Trust, Quality, and Excellence. It is a diversified group with business interests in the Textile & Apparel sectors. It also has its presence across diverse segments such as FMCG, Realty, Engineering, and Prophylactics in national and international markets.
Having enjoyed the backing of over a billion consumers, Raymond is reckoned for delivering world-class quality products to its consumers for the past nine decades.
Raymond has strong fiber-to-fabric manufacturing capabilities and is a textile powerhouse with state-of-the-art modern infrastructure. Raymond has on offer a wide range of quality shirting and suiting fabrics across a plethora of options such as Worsted Fabrics, Cotton, Wool blends, Linen, and Denim.
Now that we have a brief overview of Raymond, let’s get into its marketing mix.
Raymond’s Marketing Mix
Marketing Mix is referred to as the 4Ps of marketing – product, price, place, and promotion, that can be controlled by a company to influence consumers to purchase its products. Raymond has a wide variety of products. Its marketing mix is as follows:
Product
Raymond operates a multi-product market. Raymond has a diverse product portfolio and includes:
- Readymade Garments
- Air-Charter Services
- Prophylactics including Surgical Gloves
- Engineering including Files, Auto-Components, Agri Tools, Cutting Wools and Hand Tools
- Toiletries and Cosmetics
- Denim Wear
- Designer Wear
- Fabrics include Shirting, Denim, and Worsted
- Furnishing
- Corporate Wear
- Total Textile Solutions
- Personal Care Includes Kamasutra and Park Avenue
- Retail includes Brand Store and The Raymond Shop
- Woolen Outerwear
It continues to expand its product line by adding a variety of new products under its standard. This helps the company identify customers of different ages and workgroups.
The Raymond store is a new creation of Raymond where the company makes all its products available under one roof. In other words, it is a series of stores where a company stores all the products under its control. It has been a successful journey for Raymond in terms of engaging its customers with its products and has been instrumental in increasing sales.
Price
Raymond treats high and middle middle-class urban communities as targeted customers. In the premium business and also offers fashionable clothes for people who wish to make their distinctive brand in style and fashion sense. Raymond is a sign of success and therefore has adopted a premium pricing policy for its products. Since its customers can be high-quality people who look for quality instead of quantity, they can easily afford its prices in the consumer market.
Place
Raymond has spread its presence in domestic and international markets with similar success. It has its headquarters in Mumbai, Maharashtra. Raymond owns many production facilities located in Jalgaon, Chhindwara in India and Spain, and Portugal in overseas markets. The company is a major supplier of finished garments and textiles to the textile industry in nearly 50 countries in Japan, Middle East, Europe, and North America.
Promotion
Raymond has adopted several marketing policies to increase and maintain its awareness in the consumer market. They have launched several advertising campaigns with the help of all advertising methods such as print, digital, and technology.
Raymond has used social media to advertise on Twitter, Facebook, and YouTube. It has its website that acts as its agent for updating important news and events from time to time where the tailor is easily available at the cheapest cost of sewing the fabric.
The textile industry is a very competitive one. You should be well aware of the internal and external factors of the company. Let’s tear it down and understand the company’s strengths and weaknesses by doing a SWOT analysis.
Raymond’s SWOT Analysis
Understanding the internal factors of the company will help influence your ability to take advantage of an opportunity. SWOT Analysis is an extremely effective method that helps us in analyzing an organization’s strengths, weaknesses, opportunities, and threats. Let’s dive into it:
Raymond’s Strengths
- Strong R&D for product and innovations
- Brand loyalty
- The loyalty of consumers due to decentralization
- 550 stores in more than 200 cities across India and overseas
- High product quality
- MNC so can attract more consumers
- Good advertisements and popular branding
Raymond’s Weaknesses
- Low global penetration
- Possibility for brand switching
- Over-dependence on Indian Market
Raymond’s Opportunities
- Growing middle class
- Global expansion
- Increasing Disposable income
Raymond’s Threats
- Intense competition
- The abundance of counterfeit products
- Players competing not only on low prices but also better quality
- Regional trade alliances
- Increased social and ecological awareness will put pressure on companies to follow international labor laws and environmental laws.
The market is dynamic. Empathy is the key. The more your customer can relate to you, the more they will maintain brand loyalty. Let’s look at how Raymond cracked this formula.
Raymond’s Marketing Campaigns
Marketing campaigns promote products through different types of media, such as television, radio, print, and online platforms. It not only promotes the product but also sends a meaningful message to connect with the customer.
Raymond’s marketing campaigns are aesthetic as well as appealing to the consumers. Let’s look at some examples:
Black is beautiful
This TVC is titled ‘It all begins with black’ to showcase its ‘All black collection’. The unconventional take on the color black was very unorthodox in the fashion industry.
It was the most comprehensive ad ever launched with over 1000 styles of black suiting fabric. It challenges the notion that black is uni-dimensional and boxed up. It stars the Indo-Canadian singer and writer Jugpreet Singh Bajwa, who is visually impaired since the age of six months. It is like a poetic ode to black fabric that is deep, raw, and surprising.
Tailor your style
The campaign by Grey India, Tailor your style, is a series of television ads that presents a narrative of the art of fine tailoring, reviving aesthetic perfection.
It presents the old craft of tailoring with a refreshed and new perspective. The campaign highlights the perfect cut, the meticulous attention to little details, and also an impeccable fit.
Digital is the new name. You need to be alert, adaptable, and executive on the trends. Having a digital presence makes it easy for consumers to browse through your portfolio even when you are sleeping. It facilitates easy access without labor and rent. Let’s take a look at Godrej’s take on the same.
Raymond’s Digital Presence
Frequently, businesses need to have an effective online strategy to increase brand awareness. A digital presence gives your brand an exemplary platform to communicate with consumers. It allows you to set the narrative on who you are as a brand, interact with your consumers, and set yourself apart from competitors.
1,400,646 followers
5058 posts
196k followers
2419 posts
9995 followers
2224 posts
136,663 followers
A succinct summary of Raymond’s activities on its social media platforms:
- Their new portfolio
- Festive and special day posts
- New collections
- New advertisements
- Narratives around wedding
- Their new initiatives
- Achievements and awards
- Panel discussion updates
- Insights and job vacancies are updated
The world is moving rapidly. Having a powerful digital presence will help Raymond to put itself out to the general masses and thereby, build trust.
Conclusion
Raymond is India’s most respected brand in terms of product quality and customer satisfaction. Raymond and its joint ventures are leaders of fabric manufacturing and retailing makes it a textile major enjoying repute like none other.
Raymond has been the recipient of numerous accolades and recognition. The task of transforming Raymond into a real way of life, a fashion marketing company is still a work in progress, but it is safe to say that the company has changed.
Over the past decades, there has been an enormous growth in the spectrum of digital media. Business firms have become more conscious regarding their branding, advertising, and also their engagement on social media platforms.
Exemplary digital marketing of a brand gives it an upper hand in the competition. IIDE, helps you level up your digital marketing game by providing various courses to revamp your brand. All you have to do is register and develop the enthusiasm to learn. Before you make a decision, sign up for our completely free-of-cost Masterclass led by Mr. Karan Shah, the founder, and CEO of IIDE, and learn the basics of digital marketing from the expert and then make your decision.
Thank you for taking out time and reading the case study. Comment down your suggestions and recommendations for Raymond’s Marketing Strategy. Share and educate your friends with the same.
0 Comments