Executive Summary The report will outline the industry and the consumers of the brand Ray-Bans. Ray-Bans are a sunglasses and optical eyewear company that began in 1937. The brand is best known for their Aviator style of eyewear. The major purpose of this report is to describe the analytical processes used, to explain the findings and to give an opinion on any recommendations. In order to accomplish our aim, we have a look at: The marketplace and influencing factors, Consumer Segmentation, The attractiveness of each consumer segment and Recommendations for additional research. By doing this we are able to successfully inform the reader about the most popular sunglass brand and how it makes such a large profit. In order to increase profits with their weakness of sales between the ages of 0-12, Ray-Ban could attempt to persuade young buyers by placing the sunglasses or the optical glasses on some of the favourite children’s characters. This makes an association between the sunglasses and the much-loved character. They can also design a more colourful range, as children love colour. Introduction The purpose of this report is for our independent consulting team to describe and formulate a situational analysis in regards to the consumer decision making process (CDMP) for Ray-Ban Aviators brand and sub-brand. This is to be given to our clients the (marketing managers at Ray ban. The fact that no report of this nature has been conducted for Ray-ban that we are aware of- will prove to be a difficult task. As finding new data will be a challenge. Another challenge is trying to find data and utilising it fairly. By listing the appropriate citations & references which have been used in order to prevent copyright. The report will be presented in two different forms- in an article format with textual information which will be accompanied by visual diagrams and other supporting visuals. The data for the report will be extensively cited from numerous academic sources and from several business sources. The report will cover our industry (Ray ban aviators), product category, our brand, sub-brand, and the competitors, the marketing behaviour and marketing research including recent trends and consumer behaviour. What industry are we in? Ray-Ban is a brand of sunglasses and eyewear established by the American brand Bausch & Lomb in 1937. In 1999, an Italian brand Luxottica bought Ray-Ban off its original founders. Ray-Ban manufactures a wide range of eyewear but its most notable sunglasses varieties are the Aviator and the Wayfarer. The Ray-Ban Aviators are a cult classic in the sunglasses industry, and are emblematic of the 80s and 90s. Ray Ban is responsible for the design, manufacturing and distribution of sunglasses and is a leader in the industry. According to Forbes, the sunglasses industry is worth “roughly $90 billion, and is projected to hit $140 billion by 2020.” (Forbes, 2015) Ray-Ban is a dominant brand in the oligopoly of sunglass brand competitors, and this is largely due to its marketing. any sunglasses brand relies heavily on marketing and branding in order to increase the
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- Sunglasses, Ray-Ban, Ray-Ban Aviator