Marketing Principles and Practice LSBM101

This project analyzes key marketing concepts and explores how Polo Ralph Lauren women consumers make buying decisions. It includes a case study examining the brand's marketing strategies and consumer behavior. The project is part of the LSBM101 course, focusing on marketing principles and practice.

Marketing Principles and Practice

Table of Contents
INTRODUCTION......................................................................................................................3
Literature Review.......................................................................................................................3
A. Identify and define the key marketing concepts...............................................................3
B. Explain how Polo Ralph Lauren women consumers make their buying decisions when
purchasing Polo products.......................................................................................................4
CONCLUSION..........................................................................................................................4
REFERENCES....................................................................................................................................6

INTRODUCTION
Marketing principles are those strategies for marketing department on which
maximum stakeholders get agreed. Different marketing principles are being used for
improving the performance of company’s current product in which it is dealing. It will help
the organisation in launching a new product in the market. In this present report Ralph Lauren
has been chosen for assessment. Ralph Lauren is a global leader in lifestyle products and it
has developed the brand mire in the past 50 years. This present assignment will majorly focus
on Key marketing concepts. In addition to this, Polo Ralph Lauren women consumers make
their buying decisions when purchasing Polo products will be explained in brief.
Literature Review
A. Identify and define the key marketing concepts.
Marketing is the major function of every organisation which focuses on covering
maximum possible target market by way of advertising, promotion and different marketing
strategies. There are some major marketing concepts which are followed in order to carry the
marketing process. The same will be defined below:
 Production Orientation: The most important concept of production is to operate the
business production in such a way that it gives most effective and efficient outcomes.
When the company sales its products at low cost and maintains the quality at its best
(Burns, 2014). Ralph Lauren Corporation is following the same marketing concept
where they produce the best quality under all the lifestyle products. In context to Polo
Ralph Lauren, all the women products are produced in the best quality so that it will
not harm any women
 Product Orientation: Every organisation believes in offering such products where
the consumer gets most satisfied and feels as if their needs are being taken care by the
company (Hyndman and Athanasopoulos, 2018). Marketing department of the cited
organisation says that woman’s are always loyal towards the products if they get
services and quality as per their choice This will help in gaining maximum market
share and gaining benefits from the competitive advantages.
 Sales orientation: Companies have a different sales department which operates
according to the target and profits of the company. Sale is that function of
organisation which always runs for increasing sales as much as it can (Shand, Smith
and Ashby, 2017). In context to polo Ralph Lauren, the organisation has targeted to
covering the market of women between the age of 25 to 35. This will be the major
focus of the company to sales its women’s product. This will increase the profits of
the company along with growth and earning market share
 Societal marketing concept: This concept says that organisation should focus on
wants and needs of consumer better than their competitors. Other than this it says that
delivers value better than the competitors and keeps and maintains the well-being of

society. It is really important to do such activities and carry operation in such a way
that it does not harm society and keep the environment clean.
B. Explain how Polo Ralph Lauren women consumers make their buying decisions
when purchasing Polo products
When any person makes decision for the purpose of buying new products. They go
through many stages for the same. There are five stages by which a consumer goes through
while making any purchase. All the stages are defined below -
 Need Recognition: Every person needs to think before making any buying decision.
It is that stage of decision making process where the consumer goes before the
purchase they made any product (Robson, 2017). In context to the Polo Ralph Lauren
organisation, women recognise their needs first that what they need to buy and after
knowing the same they move to the next step of purchasing polo products.
 Information search: This is the second stage of making purchase decision in which
the person makes all the internal and external research which will get help regard the
external environment in which details about the brands will be made (Bell and
Harrison, 2018). This can be done through public and personal sources. Women while
buying Polo products go through the same process where they take detail information
research regarding the polo products ad about the brand name
 Evaluation of Alternatives: This is the third stage where people take the detail of all
the other brand options where they can get same products or consumer feel that these
products have the ability to give what they are seeking for. Women compare other
brands with Polo Products. In addition to this, all the brands will be compared with
polo products in terms of quality and pricing.
 Purchase decision: After going through all the stages, consumer comes up with the
final decision of purchasing products. This will help people in getting involved
completely with the brand (Palmatier and Sridhar, 2017). The most preferred brand
which fulfils all the needs and demands of the customer. It is the most important
decision where final decisions are being made. In context to the Polo Ralph Lauren
women consumers make their buying decisions by applying the same process and take
final decision of buying the same.
 Post decision: This is the last stage where consumer makes the final decision and
recognise that the purchase made is satisfactory or not (DeVincenzo and Scammon,
2015). This will make sure that weather the consumer will purchase the same product
again or not, It is very important for Polo Ralph Lauren to know that weather they are
delivering as per the expectation and needs of people or not.
CONCLUSION
From the above report it has been concluded that it is important to operate the
business production in such a way that it gives most effective and efficient outcomes. In

addition to this, there are various stages through which the person goes in order to make
purchase decision regarding the products they have to buy. Other than this, organisation
marketing department helps in promotion and advertising of products by making various
different strategies. Furthermore, all the strategies and policies of marketing should be made
after considering needs and wants of people.

REFERENCES
Books and journals
Shand, R., Smith, M.H. and Ashby, A., 2017. From principle to practice: embedding
sustainability in clothing supply chain strategies. In Sustainability in fashion and
textiles (pp. 61-81). Routledge.
Chernev, A., 2018. Strategic marketing management. Cerebellum Press.
Palmatier, R.W. and Sridhar, S., 2017. Marketing strategy: Based on first principles and data
analytics. Macmillan International Higher Education.
DeVincenzo, M.H. and Scammon, D., 2015. Principle-based consumption communities:
Exploring the meanings derived from socially conscious consumption practices.
Journal of Public Policy & Marketing, 34(2), pp.143-155.
Burns, L.D., 2014, July. FASHION DESIGN AND MARKETING FOR SUSTAINABILITY
AND SOCIAL CHANGE: THEORY AND PRACTICE. In 2014 Global Marketing
Conference at Singapore (pp. 1473-1476).
Hyndman, R.J. and Athanasopoulos, G., 2018. Forecasting: principles and practice. Otexts.
Robson, C., 2017. Small-scale evaluation: Principles and practice. Sage.
Bell, J. and Harrison, B.T., 2018. Vision and values in managing education: successful
leadership principles and practice. Routledge.