4. Founded in 1937 by Bausch & Lomb Army was looking for a sunglass to protect aviators from the damaging rays of the sun, that would also look elegant 1952 – broke tradition with Wayfarer Competition in disco era 1982 - $ 50,000 contract for placement in movies -> Risky Business 1990 – Comptt from Oakley, fell flat 2007 – Re-introduction of Wayfarer The Ray Ban Story
5. Rayban Sun Optics India Limited 100 per cent subsidiary of Luxottica Group 2 segments - mid-premium segment with a price band of Rs 2,500-5,000 (Euro 40-85) and the designer segment with a price band of Rs 7,000-20,000 (Euro 120-350). Manufacturing units in Bhiwadi (Rajasthan) Distribution strength of 1,000 dealers across 195 cities in India Annual turnover of Euro 10 million in 2005 in India. Ray Ban in India
6. Global sun glasses market in 2010 $ 4.8 Billion Estimated to grow to $11 Billion in the next five years Rayban’sFacebookPage Million followers Rate of average 2,300 new followers per day Present value of the brand globally is estimated to be around $1.8 Billion Luxottica in India received the Pinnacle Award as Best Eyewear Brand for 2009 from Shoppers Stop Performance of the brand
7. In 2009 there was a healthy growth with an increase in sales by over 9% The present market share of Ray ban in India is estimated to be around 30%.
8. Name Brand Awareness – Almost 100% Recall Brand Association – Almost 100% synonymous with the category itself Logos & Symbols Brand Elements
10. Latest Strategies Re-Introduction of Original Ray-Ban Wayfarers Expanded color options and color patterns Ray-Ban stands out as a choice for original vintage sunglasses Global Advertising Strategy No. of users who discovered Ray-Ban through media are a mere 38.5% Ray-Ban in films: Ray-Ban currently displays itself in over 160 films and TV shows in a year on various celebrities Launched a viral marketing campaign ‘Never Hide’ which promotes the creativity of every user/prospect via pictures, short videos etc Virtual Mirror – Believe it or not – Try your own sun glasses virtually Postponement Manufacturing A full pull system of manufacturing Which color sells the most is the toughest to estimate, hence the spraying stage is postponed
17. Methodology Exploratory study Primary Data Collection 10 focused personal interviews with Rayban users across the country. 3 focused group discussions in Manipal. Secondary Data Referred
18. Psychographic Profiling Sunglasses High involvement Category Complex Buying Behavior Purchase process governed by the consumer behavior AIO ( Activities, Interests and Opinions ) Framework has been used. Respondents were asked to rate on the various statements on a scale of 1-5. 1 – Strongly Disagree and 5 – Strongly Agree
19. Statements I seek advice of friends on which brand to buy I look at price at whatever I buy I follow latest fashions very carefully I prefer quiet evening over a noisy party I like to do volunteer work for service organizations I am more independent than most people My friends often come to me for advice I watch out for any sale/discount offers I dedicate long time/importance to dress smart I like spending with my girl/boy friend in a park rather than disco I do not feel community work is just a way to get the limelight I like to be considered a leader I often influence what my friends buy I do not purchase any important product without consulting my friends
20. Rotated Component Matrix Information Seeker Community Minded, yet Low profile Self Confident and Opinion Leader Fashion Conscious
21. Psychographic Profile Community Minded, who doesn’t show off ( Low Profile) Fashion Conscious Information Seeker Self Confident and Opinion Leader
22. Demographic Profile Age: Prominently people in the age group of 22 – 40 i.e. Generation X and Generation Y (Young and Middle aged) Income: Family income of greater that 4 lakhs per annum (Approx.) Education: Well educated, graduate or post graduate. Occupation: Students and working professionals
24. Comparative Analysis : Brand Positioning Brand Positioning : Need to arrive at the positioning platforms Factor Analysis was used to identify platforms Value For Money Protection Quality Of the Product Comfort Stylish product Status Symbol
32. Most Compelling Reason for Buying the brand Style, Quality, Protection – Points of Parity The iconic Brand – Point of Differentiation Rayban – Perceived to be status symbol
33. Identify 5 most important attributes of the brand that you will identify, which need to be strengthened/modified
34. Factor Analysis Exploratory study gave us the following variables pertaining to the brand Design/Aesthetics U.V Protection Price Robustness Brand Comfort Style Statement Status Symbol Long Life Protection from Dust
35. Contd. 1. Protection = UV protection + Protection from Dust 2. Quality of the Product= Robustness + Long Life 3. Status Symbol = Brand + Status Symbol 4. Style = Style Statement + Design/Aesthetics 5. Value for Money -> Price 6. Comfort
36. Factors to be Strengthened Style : Currently in the space where Fastrack is also competing. Hence a need to strengthen this positioning Value For Money : Products can be priced strategically to ensure a pull from Fastrack customers into Rayban customers.
38. Combination of metal & polymer; Detachable & interchangeable lens and side-bars Q12. Choose the best/most appropriate combination from above and modify the brand
39. Current customers Main focus: New segment of rugged users 16 – 35 yrs Male & Female Benefit sought: no-slip & comfortable grip, high quality lens & build and a stylish design Segment Description (New range)
40. Eyewear for rugged and outdoor use Positioned as durable, stylish and young Customers who indulge in adventure sports or any similar outdoor activity Pricing: Rs 2,499 -5,499 Shall not dilute the Ray Ban brand Inviting customers of lower priced competitors such as Fastrack Positioning – RayBanGame
44. Key Competitors Oakley Adidas Nike Competitive Advantage Trust and Brand Recall Key stake holders Customers Design team Distribution channel partners Suppliers Defining modified brand
45. Attributes Top quality materials such as gripping polymer with a metallic skeleton Soft feel materials prevent scratching and damage to skin Interchangeable lenses and sidebars High quality UV protective lenses Range of colors , Finish - glossy or matte Aerodynamic shape to minimize wind resistance Protective silicon coating on surface for all-weather durability and stain-scratch resistance Defining modified brand
46. Value Proposition: Superior quality product Suitable for not just outdoor activities and adventure sports but also for an active urban lifestyle. Stylish and durable eyewear Host of customization options Superior UV protection Defining modified brand
47. Excellent brand recall amongst both users and non-users Used mainly for its style and status Perceived as delicate New sporting range A new option The brand pull ensures attention Attractive Features Fastrack Why do you think that your new modified brand may perform better than the earlier?
48. Study of Ray Ban Consumer Behavior by ServansingDivya, 2008 http://www.urbanoptiques.com/eyewear/designer-eyewear/rayban/the-ray-ban-story http://www.afaqs.com/media/story.html?sid=1724 http://chemicals.zibb.com/trademark/ray-ban/29881494 Ray-Ban Official Website, Ray-Ban company website http://www.rayban.com http://www.luxottica.com/en/brands/house_brands/ray_ban/ http://www.accessmylibrary.com/article-1G1-187607119/results-rayban-sun-optics.html http://www.indiainfoline.com/Markets/Company/Fundamentals/Profit-Loss/Rayban-Sun-Optics-India-Ltd/500044 http://www.nielsen-online.com/downloads/us/BAM_US.pdf References
