Marketing Principles & Practice : Assignment

Marketing Principles
& Practice

Contents
INTRODUCTION......................................................................................................................3
TASK.........................................................................................................................................3
A) Key marketing concepts used by The Ralph Lauren ........................................................3
B) Consumer Decision Making Process................................................................................5
CONCLUSION..........................................................................................................................6
REFERENCES...........................................................................................................................7
................................................................................................................................8

INTRODUCTION
Marketing is a precarious occupational function for utmost for-profit and non-profit
productions firms. It is a extensive procedure that comprises research, merchandise design
and expansion, preferment and customer service (Adkinson and et. al., 2013). This report
shows the introduction of new stylish cloth for woman age between 16 to 60 such as Blue
Label. The company apply al kind of marketing concepts such as marketing mix, promotional
mix, consumer behaviour, decision making.
TASK
A) Key marketing concepts used by The Ralph Lauren
The marketing conception is the approach that companies’ contrivance to fulfil
customer’s requirements, upsurge sales, exploits profit and exhausted the rivalry. The cloth
company wants to grow and earn more profit, in order to do so Polo Ralph Lauren has
applied various kind of marketing concept (Child, 2015). As woman cloth is introduced in
market there would be more chance of growth and earn more revenue. Here are
five marketing concepts that administrations accept and implement. These concepts are
defined underneath;
 Production Concept: The main idea of production concept is that “Customers will
goodwill merchandises that are accessible and extremely reasonable”. This perception
is unique of the eldest Marketing supervision alignments that monitor vendors.
Companies accepting this orientation track a main danger of meeting too barely on
their individual processes and behind sight of the actual detached. In Polo Ralph
Lauren the main motive is to make woman aware about their new stuff. So they
decided to fix a decent price for Woman cloth in order to increase sales. Management
attentions on educating production and circulation competence (Ennew, Waite and
Waite, 2013).
 Product Concept: The creation idea clutches that the clients will goodwill products
that proposal the most in excellence, presentation and advanced structures. Marketing
strategies remain attentive on making unceasing product developments. Product
excellence and upgrading are significant portions of marketing strategies, sometimes