Not everyone can afford a Ray Ban sunglass or anti-wear glass. One of the weaknesses associated with this product is that it is too costly. It may not be as expensive as Prada but it is costly to the target market they are targeting. For example, Millennials are now out of school, or some are still in school, and they are trying to budget spending money on accessories that they do not really need but want. In this case, Ray Ban sunglasses. The products vary from $150-$300 and not all Millennials have the means to buy different color sunglasses or even afford to buy one pair of sunglasses. Another weakness for Ray Ban is exclusivity of distribution channels. The brand is being distributed by Luxottica (LUX) Group. This is a luxury retailer and it was not meant for everyone but certain wholesalers franchises. Opportunities would include a chance for brand extension and expansion. Instead of just being advertised with luxury franchises mostly in Italy and the United States, Ray Ban should globalize their products and expand it to other countries such as India. Raising awareness about the importance of protective lenses is also another great opportunity provided by Ray Ban. The lenses helped protect US Air Force pilots when the sun obscured their visions and now it can be used by anyone to reflect the glare of the sun directly into their eyes. Other opportunities for this brand includes emphasizing Ray Ban as a brand that values individuality and self expression as well as promoting their “It Takes Courage” (#ittakescourage) message. According to Edwards (2013), “the it takes courage message refers to eight messages that can help individualize each consumer. It takes courage to open your heart, fight perfection, face critics, do your part, push
RAY BAN SUNGLASSES 4 yourself, start new, unplug and face your fears” (para.8). There are a lot of threats facing Ray Ban sunglasses and one of them is consumers buying a generic or cheaper version of these glasses at a convenience store. As mentioned before, not everyone has the means to buy these glasses in different colors and use them accordingly to match their clothings. Instead of buying the $150 pair of sunglasses, consumers can buy a knockoff at a gas station store for a very cheap price. Ray Ban will lose their customers easily when people want something cheaper instead of a pricier product, but both can protect your eyes from the sun’s glare. Another threat is when the economy falls onto hard times, people will buy less of designer products. They will only buy what they need instead of what they want in order to conserve their resources (eg. money). Lastly, consumers are loyal to other brands instead of just Ray Ban. People are now switching to Oakley or Prada even though they may be pricey. The reason being is because these brands are more fashionable than a simple Aviator or Wayfarer sunglass from Ray Ban.
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- Winter '11
- Sunglasses, Ray Ban