In order to forecast performance goals for any company we need to answer few questions such as: who is our customer, customer value, what are our results and what’s the plan.Marketing Strategy 7
Oakley Marketing PlanThe Global sunglasses market was valued at $14.5 billion in 2008 and is expected to grow and expand at a healthy rate over the forecast period. Some of the factors that helped in thatgrowth are the increased awareness about the harmful effects of Ultra Violet rays. In addition to that we have also the increased acceptance to wearing sunglasses and what it have as a modern life style accessory, which will drive an increased demand for sunglasses. The increase in disposable income has definitely influenced the purchase of pricy sunglasses thatOakley produces which is well accepted as a fashion statement. Also, the increased preference ofa special brand over the competition depends on the style and also how technologically advancedthe glasses are and the increased protection it will provide the wearer.Women are positively influencing and dominating the market of fashion sunglasses, a large number of women are becoming more income earners and thus economically independent. That has fueled and increased the market share of women as a power buyer. Also, celebrity endorsements are one of the driving factors for the demand for designer sunglasses.Oakley has done a great job marketing its sports sunglasses for men and it had earned its customer’s trust and built a strong relationship in the sports world. Now in order to capture the attention of women it has to have a good marketing mix that will target women from all walks of life.Marketing MixMarketing Mix by definition is the tools that is used in order to target the specific market segment and implement the market strategy in order to achieve specific goals (Finch, 2013). The basic four parts of any marketing mix are; Product, Pricing, Place, and promotion.8
Oakley Marketing PlanPricingOakley sports sunglasses for women are the market leader but when it comes to price point special attention has to be given. Oakley is been credited for being the most innovative company when it comes to eyewear with more than 600 patents for multiple products including performance gear, materials, and eyewear. Oakley has a brand building that projects quality over price. The product is positioned where the perceived value of its products is unique and qualitative. Oakley has adopted a premium pricing strategy, knowing that its customers will buy its products irrespective of the tag price (Marketing91, 2018).Oakley also has promotional pricing where coupons and special discounts are offered to online buyers in order to promote it’s online buyers as a part of Oakley’s promotionalstrategy.PromotionOakley has adopted above the line promotion, which consists of any advertising activitiesthat don’t have a special target audience and it generally used to reach out to the largest possible audience. It also adopted what’s known as BTL or below the line marketing, which is a direct marketing strategy. This type of marketing is used to target a segment of the customers; women clients should be included in this type of market segment in order to attract their attention to
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