BUS620-WK6-ASSIGNMENT.docx - Running head RAY BAN SUNGLASSES 1 Ray Ban Sunglasses Loarie Luafutu BUS 620 Managerial Marketing Debra McCoskey-Reisert

BUS620-WK6-ASSIGNMENT.docx - Running head RAY BAN...

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Running head: RAY BAN SUNGLASSES 1 Ray Ban Sunglasses Loarie Luafutu BUS 620: Managerial Marketing Debra McCoskey-Reisert January 8, 2018 Ray Ban Sunglasses The Ray-Ban brand was born in the late 1930’s when Air Force pilots were reporting that
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RAY BAN SUNGLASSES 2 the glare from the sun was giving them headaches and altitude sickness. A new kind of glasses was then introduced to help pilots see without their visions being obscured by the glare of the sun. The eyewear became public in 1937. Not long after, it spread from pilots to anyone with an outdoor lifestyle in 1938. Nowadays, you can find almost anyone sporting Ray-Bans not only as a fashion statement but also as protective eyewear. Aviators and Wayfarers are two of Ray-Bans top selling products. “Ray-Ban has been instrumental in pushing boundaries in music and the arts, forging the rise of celebrity culture, and creating the power of the rock and movie stars to influence fashion” (Luxottica Group, 2011). This paper will analyze the marketplace situation in detail including the organization’s strengths, weaknesses, opportunities and threats; the organization’s mission statement and forecast performance goals; a marketing strategy based on the organization’s objectives; an integrated marketing mix and recommendations for the implementation of the marketing plan for Ray Ban. Marketplace Situation for Ray Ban Ray Ban is a well-trusted brand recognized all over the world for their eyewear products. Ray Ban targets men, women and children of all ages but their main target market lies specifically between Millennials to Generation X. This group prefers Ray Ban glasses, both sunglasses and anti-wear glasses, because of the unique benefits that allow them to sympathize with the product. By doing this, they have created a personal bond with their customers that will ensure not only customer satisfaction and but their loyalty as well. It is widely known that 70% of these loyal customers are men; this is due to the fact that most men are subjected to work that produce intense light. However, Ray-Ban has found some difficulties with some of today's youth because they have not been able to accurately determine their brands weaknesses and strengths. Strengths for this brand include high quality and durable products. Ray Ban has been around for decades and they have proven their product to be one of the best globally. As of today, Ray Ban is in competition with brand names such as Prada, Maui Jim and Oakley. Prada has a
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RAY BAN SUNGLASSES 3 more higher price range than Ray Ban; Maui Jim has a similar style but more expensive and it is more popular near coasts while Oakley on the other hand, has a more sporty and a younger demographic compared to Ray Ban, which means it appeals mostly to athletes rather than the general consensus. Other strengths include providing sunglasses that are gender neutral, appeals to different generations, provide numerous styles and many color options, and promises 100% anti-reflective lenses which protects eyes from harmful rays.
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