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CONCEPTS OF MARKETING (MKT303)Luxottica Video Quiz1.What marketing strategies did Luxottica use after they purchased Ray-Ban from the Americancompany Bausch & Lomb? (Consider each of the 4Ps)The first thing they did was increase the price significantly, then they refurbished them andmade the brand upscale. Also, although Luxottica is an Italian brand and they own Ray Bandwhich is an American brand, consumers still believe that Ray Band is a true American brand.Since most Ray Band customers think that it’s an American brand you can say that Luxottica isdoing a lack of promotion/publicity or else consumers would know the truth behind the twocompanies.2.What is meant by saying that Luxottica is presenting an “illusion of choice”?