Marketing Principles and Practice: Ralph Lauren Case Study Analysis

This report examines the marketing principles and practices employed by Ralph Lauren, focusing on the introduction of new women's clothing lines like Blue Label. It delves into key marketing concepts such as the marketing mix, promotional mix, consumer behavior, and decision-making processes. The report outlines five core marketing concepts: production, product, selling, marketing, and societal marketing, illustrating how Ralph Lauren applies them to increase sales and revenue. Additionally, it analyzes the consumer decision-making process, detailing the stages from recognizing a need to post-purchase evaluation. The conclusion emphasizes the importance of marketing concepts for product introduction and customer satisfaction, supported by references to relevant academic sources and online resources.

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

the single part. For example; the manger of company in Polo Ralph Lauren must keep
on updating all cloths that are produce by them in present or past time.
 Selling Concept: The purpose is to vend what the business creates slightly than
making what the marketplace requests (Harcup, 2015). Such destructive vending
program transmits very great dangers. In selling concept, the dealer undertakes that
regulars will be persuaded into purchasing the goods drive like it, if this is not like by
them they will probably disremember their dissatisfaction and purchase it over
advanced. This is typically very deprived and expensive supposition. Classically the
vending concept is skilful with unsolicited goods. Unsought products are that
purchasers do not usually reflect of procurement.
Marketing Concept:
The marketing concept says “attaining structural objectives depends on significant the
requirements and needs of marked marketplaces and bringing the wanted gratifications better
than participants do”. It takes a “consumer first” method that means customer emphasis and
worth are the directions to attain sales and earnings. The marketing notion is a client’s-
centred wisdom and answers viewpoint (Jobber and Ellis-Chadwick, 2012). The occupation
is not to discovery the right clients for produce but to find the right goods for businesses.
Societal Marketing Concept
The Social Advertising Idea places the Mortal happiness on highest formerly profits
and nourishing the needs. This concept that clutches that a firm must make decent marketing
choices by seeing consumer’s wants, business’s desires, and civilization’s long-term
welfares. Societal Marketing makes a positive appearance that help company to increases the
auctions. It highlights communal duties and proposes that to withstand. This concept demand
for bearable advertising, informally and ecologically accountable promotion that happens the
current wants of customers and companies while too conserving or attractive the aptitude of
upcoming groups to see their requirements. Businesses must balance three deliberations in
locale their selling strategies such as firm profits, the consumer desires, and society’s
interests. There are certain benefit’s to Polo Ralph Lauren in order to implement this concept
to sell their product in market and making all kind of Woman age group aware about there
product (Malekoff, 2015).
 It assistances to shape an improved duplicate for the business.
 Stretches a modest benefit over the contestants.
 Valuable in buyer holding and long-term relations.

 Increases the sales and market share.
 Simplify development and development in the long term.
 Produces and business policy must arrange the social welfare and civilization in
general (Mintu-Wimsatt and Winston, 2013).
B) Consumer Decision Making Process
Step 1 - Essential is the greatest significant influence which indications to
procurement of goods and services. Essential infect is the substance which triggers the
buying decision of individuals. So the company first identifies the basis need of
woman and prepare cloths accordingly (Consumer Decision Making Process, 2017).
Step 2 - Once a specific distinguishes his requirement for a particular product or
service then he or she attempts to wrinkle as much material as they can.
An individual can obtain evidence finished any of the following sources:
1. Personal Sources – They strength deliberate his essential with their friends, family
associates, co-workers and other associates.
2. Profitable sources - Posters, auctions people, Packaging of a specific product in
numerous suitcases quick individuals to purchase the same, Shows Props, Dummies
etc.
3. Community sources - Newspaper, Radio, Magazine
4. Experimental sources - Personality’s own knowledge, prior treatment of a specific
product (Robson, 2017).
Step 3 - The following step is to appraise the numerous replacements obtainable in the
market. A separate after congregation relevant material attempts to choose the best selection
obtainable as per his essential, taste and pocket.
Step 4 - Later successful through all the overhead stages, client finally procurements the
product.
Step 5 - The buying of the produce is shadowed by post acquisition assessment (Shank and
Lyberger, 2014). Post purchase evaluation mentions to a purchaser’s examination whether the
artefact was useful to him or not, whether the product fulfilled his need or not? Similarly the
manager of company find out the best possible product for women and makes sure that this
will fulfil their needs and satisfy the most.

CONCLUSION
From the above report it has been concluded that marketing concepts are essential for
the purpose of introducing new product in market, doing good promotion etc. The report
shows that after introduction the basic is related to customer satisfaction.

REFERENCES
Books and Journals:
Adkinson Jr, N. F and et. al., 2013. Middleton's Allergy E-Book: Principles and Practice.
Elsevier Health Sciences.
Child, J., 2015. Organization: contemporary principles and practice. John Wiley & Sons.
Ennew, C., Waite, N. and Waite, R., 2013. Financial services marketing: An international
guide to principles and practice. Routledge.
Harcup, T., 2015. Journalism: principles and practice. Sage.
Jobber, D. and Ellis-Chadwick, F., 2012. Principles and practice of marketing (No. 7th).
McGraw-Hill Higher Education.
Malekoff, A., 2015. Group work with adolescents: Principles and practice. Guilford
Publications.
Mintu-Wimsatt, A. T. and Winston, W., 2013. Environmental marketing: strategies, practice,
theory, and research. Routledge.
Robson, C., 2017. Small-scale evaluation: Principles and practice. Sage.
Shank, M. D. and Lyberger, M. R., 2014. Sports marketing: A strategic perspective.
Routledge.
Stuart, G. W., 2014. Principles and Practice of Psychiatric Nursing-E-Book. Elsevier Health
Sciences.
Visser, H., 2013. Islamic finance: Principles and practice. Edward Elgar Publishing.
Worth, M. J., 2018. Nonprofit management: Principles and practice. Sage Publications.
Online
Consumer Decision Making Process. 2017 [Online] Available through:
<http://www.ccsfmarketing.com/consumer-decision-making.html>