108637_Aneeta_Aby_Marketing_Plan_872795_1712832629 (1).docx - Ray Ban Marketing Plan 2018 Table of Contents EXECUTIVE SUMMARY.5 INTRODUCTION.6 PESTLE

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Ray Ban Marketing Plan 2018 Table of Contents EXECUTIVE SUMMARY: .......................................................................................................................... 5 INTRODUCTION: .................................................................................................................................... 6 PESTLE ANALYSIS .................................................................................................................................... 7 SWOT ANALYSIS ................................................................................................................................... 10 STRENGTHS ...................................................................................................................................... 10 WEAKNESSES ................................................................................................................................... 11 OPPORTUNITIES: .............................................................................................................................. 11 THREATS ........................................................................................................................................... 12 Consumer Analysis ............................................................................................................................... 13 Competitive Analysis ........................................................................................................................... 14 Porter’s Five Forces .......................................................................................................................... 14 Product: ............................................................................................................................................... 15 Price: .................................................................................................................................................... 16 PLACE: .................................................................................................................................................. 18 PROMOTION: ....................................................................................................................................... 18 Timing and Budget ............................................................................................................................... 19 Conclusion ........................................................................................................................................... 21 References……………………………………………………………………………………………………………………………………….20 1
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Ray Ban Marketing Plan 2018 EXECUTIVE SUMMARY: This marketing plan was put forth by the team members after thorough research, to give an insight into what the introduction of Ray Ban’s new product ‘Music Shades’ entails. The purpose of this report was to create a marketing strategy consisting of all the necessary information behind the introduction of this new product into the UAE market in the year 2018. The eyewear industry’s revenue is on the rise in the UAE due to the extreme climatic conditions and the high purchasing power of consumers in the region (Group, 2018). Therefore, the competition between the different eyewear brands to overpower each other is on the high as well. Ray Ban has therefore come up with this brand new innovation of the Music shades which are sunglasses with Bluetooth music players and this plan will help achieve its goal of making it a success among the consumers of the UAE. Firstly, the PESTEL and SWOT analysis of the new product will be shown. This will be followed by the consumer and competitive analysis which provides more insight into the external environment and competitor environment. The marketing mix consisting of the 4Ps which include Product, Price, Place and Promotions will be shown and then finally the timing schedules and budget needed. 2
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Ray Ban Marketing Plan 2018 INTRODUCTION: Ray Ban begun by making aviators for the soldiers in the United States Army after which is joined the Luxottica Brand in 1999. It has turned into an international brand ever since. The aim of this marketing plan and of Ray Ban itself followed by its mission and existing products will now be discussed. The aim of this marketing plan is to introduce the ‘Music Shades’ in the UAE which is a unique product that looks forward to attracting as many consumers as possible. With the right strategies and policies put forth, making this product a success will not be impossible. Ray Ban doesn’t have a mission statement of its own but abides by that of its mother brand Luxottica which is to “protect the eyes and enhance the look of women and men in the world, creating the best possible eyewear to satisfy its clients and interpret consumer tastes and aspirations” (Luxottica, 2018). Ray Ban has a wide variety of eyewear which includes both sunglasses and eyeglasses. Eyeglasses can be chosen from different shapes such as square, rectangular etc and then fitted with lenses with your power or without. Sunglasses have a more wider collection such as Aviator, Clubmaster, Wayfarer, Round, Justin, Erica and Junior Top Rated. The top 5 Ray Ban sunglasses are shown below : (Ray Ban, 2018) 3
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