Principles of Marketing - doc

MARKETING &
PRINCIPLES

Table of Contents
INTRODUCTION...........................................................................................................................1
LITERATURE REVIEW................................................................................................................1
PART A : Key marketing concepts used by the Ralph Lauren corporation and their application
to market Polo Ralph Lauren Women's products. ......................................................................1
PART B : The buying decisions of consumers decision making process for purchasing polo
products. ......................................................................................................................................2
CONCLUSION................................................................................................................................3
RECOMMENDATION...................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Marketing principles are marketing ideas which are agreed by the companies to use for
executing an effective strategy of marketing. The principles of businesses for marketing are build
on product promotional strategies (Epstein, 2019). Businesses use principles in order to achieve
effective promotion of goods and services of business entities. In this report case study of Ralph
Lauren for women products is given . Here in this report blue label category of clothes will be
examine and marketing concepts applied by Ralph Lauren to build a strong sales base will be
discussed. This report will be presented in form of literature review where key marketing
concepts will be used to market product of Polo Ralph Lauren. Also, the buying decisions of
women customers of Ralph Lauren will be explained.
LITERATURE REVIEW
PART A : Key marketing concepts used by the Ralph Lauren corporation and their application to
market Polo Ralph Lauren Women's products.
According to the Hultén (2015) , Marketing management orientation refers to different
marketing concepts which focuses on different techniques to produce, market and create
products for customers. The management personnel focuses to design strategies which build
profitable relationship with targeted customers.
In addition to Geldes, and et.al. (2015) says that marketing orientation can be performed
in many types by different concepts. They are production concept, product concept, selling
concept, marketing concept and societal concept. Business entity chooses and apply these
concepts according to needs and demand of customers. Sometimes costumer behavior can vary
by these concepts followed by the company.
In the view point of Epstein (2019) , Production concept is related with producing and
business entity does not put much efforts to gain knowledge about customer's interest. Whereas
product concept is different from production concept. As the businesses are more focus towards
their product and not concern about needs of consumers. Thus, the company Ralph Lauren
corporation does not follow both these concepts in their women products.
On the other hand Serrat (2017) articulates that the company Ralph Lauren can use
marketing concept of Marketing management orientation. In this concept the business entities
are highly concern with the needs of consumer and target audience. Like understanding the need
of consumers which is mainly represents bohemian, sophisticated and chic background of
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women. The company launches their range of tweed cutaway coat, olive-colored dress, silk
Georgette and hunting jacket. Therefore the consumers gain their set of interest in brand of Ralph
Lauren.
In accordance with Anker and et.al. (2015) , The selling concept is applied by many
companies in order to increase in sales and achieve target of sales. The Ralph Lauren can follow
this concept but at later stage when company is able to create a huge customer base.
According to the author Tietzen and et.al. (2015) , Societal concept is emerging in
various markets. Therefore, to attain an advance version of marketing concept the company like
Ralph Lauren focuses to aim on present needs of consumers and also try to access future needs
of their to attain sustainability.
PART B : The buying decisions of consumers decision making process for purchasing polo
products.
According to the Serrat (2017) , The consumer buying decision has been laid in different
steps. The steps are begin with Need recognition, then comes Information search, after that third
step is evaluation of alternatives and purchase decisions. At last the consumer prefer to make
post purchase decisions.
In accordance with Anker and et.al. (2015) has laid the First step of need recognition
which is an important factor and lead a great impact on buying decisions of consumers. The need
of women clothing is observed by Ralph Lauren. The company according to their need of
clothing preference which is bohemian, chic and sophisticated dresses launched by the Ralph
Lauren.
The second step of consumer buying decision is laid by Epstein (2019) which includes
information search. The consumer searches through their personal source, commercial source,
public source and experimental source. They try to gather information about availability which is
matching with their needs. On this stage the target audience can be figured out by the company
Ralph Lauren.
On the other hand Hultén (2015) , The third step of consumer buying decision is
evaluation of alternatives which can be access through consumers. The consumers evaluate
various alternatives that are available in the market and chooses the best suitable option on this
stage only. The company by marketing their Polo Ralph Lauren women products can attain a
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base of customers by presenting their best. Like they open a flagship of Polo at 711 Fifth Avenue
which attracts a huge number of consumers towards them.
The last second step of consumer buying decision is articulated by Tietzen and et.al.
(2015) which involves the consumer on this stage becomes buyer and purchases the products
after going through all the stages. Polo Ralph Lauren on this stage able to make sales to their
target audience.
In the view point of Geldes, and et.al. (2015) , The last step of buying decision of
consumer which includes the evaluation of product followed by purchase of the product. The
consumer analysis and experiences the product which they had purchased. Then the usefulness
and satisfaction level of these consumers decides their repeat purchase for same product. On this
stage company Polo Ralph Lauren able to gain loyalty of consumers.
CONCLUSION
This report is all about the case study of Ralph Lauren of their involvement in clothing of
women. The report was highlighted about marketing concepts adopted by Ralph Lauren to
market their new segment of clothing which is women polo Ralph Lauren. Then comes steps of
buying decision of consumers and their relationship with sales of blue label.
RECOMMENDATION
 The company Ralph Lauren can use social media marketing channel to introduce their
product in different geographical area such as marketing through Blogging and Facebook.
 Ralph Lauren can also conduct a press release in order to create a customer base.
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REFERENCES
Books and Journals
Anker, T. B., and et.al., 2015. Consumer dominant value creation: A theoretical response to the
recent call for a consumer dominant logic for marketing. European Journal of
Marketing. 49(3/4). pp.532-560.
Epstein, T. S., 2019. Urban food marketing and third world rural development: The structure of
producer-seller markets. Routledge.
Geldes, C., and et.al., 2015. How does proximity affect interfirm marketing cooperation? A
study of an agribusiness cluster. Journal of Business Research. 68(2). pp.263-272.
Hultén, B., 2015. Sensory marketing: Theoretical and empirical grounds. Routledge.
Serrat, O., 2017. Marketing in the public sector. In Knowledge Solutions (pp. 111-118).
Springer, Singapore.
Tietzen, T., and et.al., 2015. Program, system and method for linking community programs and
merchants in a marketing program. U.S. Patent 9,111,295.
Online
Stages in Consumer Decision Making Process. 2019. [Online]. Available through :
<https://www.managementstudyguide.com/consumer-decision-making-process.htm>.
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