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Principles of Marketing - doc

   

Added on  2020-12-18

6 Pages1354 Words74 Views
MARKETING &PRINCIPLES

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

INTRODUCTIONMarketing principles are marketing ideas which are agreed by the companies to use forexecuting an effective strategy of marketing. The principles of businesses for marketing are buildon product promotional strategies (Epstein, 2019). Businesses use principles in order to achieveeffective promotion of goods and services of business entities. In this report case study of RalphLauren for women products is given . Here in this report blue label category of clothes will beexamine and marketing concepts applied by Ralph Lauren to build a strong sales base will bediscussed. This report will be presented in form of literature review where key marketingconcepts will be used to market product of Polo Ralph Lauren. Also, the buying decisions ofwomen customers of Ralph Lauren will be explained. LITERATURE REVIEWPART A : Key marketing concepts used by the Ralph Lauren corporation and their application tomarket Polo Ralph Lauren Women's products. According to the Hultén (2015) , Marketing management orientation refers to differentmarketing concepts which focuses on different techniques to produce, market and createproducts for customers. The management personnel focuses to design strategies which buildprofitable relationship with targeted customers. In addition to Geldes, and et.al. (2015) says that marketing orientation can be performedin many types by different concepts. They are production concept, product concept, sellingconcept, marketing concept and societal concept. Business entity chooses and apply theseconcepts according to needs and demand of customers. Sometimes costumer behavior can varyby these concepts followed by the company. In the view point of Epstein (2019) , Production concept is related with producing andbusiness entity does not put much efforts to gain knowledge about customer's interest. Whereasproduct concept is different from production concept. As the businesses are more focus towardstheir product and not concern about needs of consumers. Thus, the company Ralph Laurencorporation does not follow both these concepts in their women products. On the other hand Serrat (2017) articulates that the company Ralph Lauren can usemarketing concept of Marketing management orientation. In this concept the business entitiesare highly concern with the needs of consumer and target audience. Like understanding the needof consumers which is mainly represents bohemian, sophisticated and chic background of1

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