o Also have night vision Gain trust and loyalty of our customer: In order to gain the trust of our customers, we have to back up what we say about our product. This means giving them real data about our product or service, something which makes them stop and take notice. If we have a special features, then we should facilitate our customer with it. Competitive analysis: Looking at competition of Ray Ban in international quality sun glasses market. There major player in eyewear business are: Charmant group, De Rigo, Marcolin, Safilo and Viva international group. Apart from consideration, Product differentiation is an important measure for the rivalry between the firms in an industry. Most of the competitors have a very broad variety of brands in their portfolio. This makes it had to differentiate company’s based on their final products. Main Competitors: The following are the main competitors of Ray ban who can compete with our product: o Marcolin o Safilo o De Rigo
Market Analysis: SWOT Analysis A SWOT analysis is a structured planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a project or in a business venture. Strengths: o Long standing and well established brand. o High quality and durable o Provide numerous style and colors options o Appeals to many generations o Promise 100% anti reflective glasses which protect eyes against harmful rays. Weakness: o Costly product. o Exclusively of distribution channels. o Difficult to operate (not user friendly). Opportunities: o Ray’s awareness about the importance of this product. o Chance of brand extension and expansion. o Introduce high value added products. o More aware and technology understanding. Threats: o In hard times people buy less designer products. o May be seen as trend that will die out. o Ability to retain quality customers. Target Market:
We used both primary and secondary methods of research to determine the correct target market based on demo-geographic, psychographic, and behavioristic qualities. We also used the VALS (values, attitudes, and lifestyles) test to describe personality characteristics that relate to purchase behaviors of our prospective buyers. Demo-geographic: Our primary target is men and women between the ages of 18 and 34, who have enough discretionary income to purchase our product. In terms of ethnicity, our target market encompasses White, African, American and Asian populations. We plan to target people who live in areas that are often exposed to sun and wear sunglasses often.
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- Spring '16
- anita ghulam
- Sunglasses, Ray Ban