Ray Ban was founded in 1937 by Bausch & Lomb to create sunglasses that protected aviators from sun damage while looking elegant. In 1952 they broke tradition with the Wayfarer style. They struggled with competition in the 1970s/80s but product placements in movies in the 1980s helped sales. After falling behind Oakley in the 1990s, the Wayfarer was reintroduced in 2007. Ray Ban is now owned by Luxottica and has a strong presence in India through their subsidiary with annual turnover of $10 million in 2005. The brand maintains high brand awareness and association with sunglasses.

3. RAY BANBy: Group H

4. Founded in 1937 by Bausch & LombArmy was looking for a sunglass to protect aviators from the damaging rays of the sun, that would also look elegant1952 – broke tradition with WayfarerCompetition in disco era1982 - $ 50,000 contract for placement in movies -> Risky Business1990 – Comptt from Oakley, fell flat2007 – Re-introduction of WayfarerThe Ray Ban Story

5. Rayban Sun Optics India Limited 100 per cent subsidiary of Luxottica Group2 segments - mid-premium segment with a price band of Rs 2,500-5,000 (Euro 40-85) and the designer segment with a price band of Rs 7,000-20,000 (Euro 120-350). Manufacturing units in Bhiwadi (Rajasthan)Distribution strength of 1,000 dealers across 195 cities in India Annual turnover of Euro 10 million in 2005 in India.Ray Ban in India

6. Global sun glasses market in 2010 $ 4.8 Billion Estimated to grow to $11 Billion in the next five yearsRayban’sFacebookPage Million followersRate of average 2,300 new followers per dayPresent value of the brand globally is estimated to be around $1.8 BillionLuxottica in India received the Pinnacle Award as Best Eyewear Brand for 2009 from Shoppers StopPerformance of the brand

7. In 2009 there was a healthy growth with an increase in sales by over 9% The present market share of Ray ban in India is estimated to be around 30%.

8. NameBrand Awareness – Almost 100% RecallBrand Association – Almost 100% synonymous with the category itselfLogos & SymbolsBrand Elements

9. Compared to Comptt (India)

10. Latest StrategiesRe-Introduction of Original Ray-Ban Wayfarers Expanded color options and color patternsRay-Ban stands out as a choice for original vintage sunglassesGlobal Advertising StrategyNo. of users who discovered Ray-Ban through media are a mere 38.5%Ray-Ban in films: Ray-Ban currently displays itself in over 160 films and TV shows in a year on various celebritiesLaunched a viral marketing campaign ‘Never Hide’ which promotes the creativity of every user/prospect via pictures, short videos etcVirtual Mirror – Believe it or not – Try your own sun glasses virtuallyPostponement ManufacturingA full pull system of manufacturing Which color sells the most is the toughest to estimate, hence the spraying stage is postponed

11. Virtual Mirror

13. The latest Ray-Ban Ad Image of a man with a pistol, moustache and Ray-Ban

14. Touches the hedonic aspect instead of the utilitarian angle

15. The ad aims at retaining the original masculine image of the productStrengthsGood brand image: It is a well known brand which was built over the yearsWide presence in over 50 countriesSuccessful Promotions through social media and viral marketingWeaknessesLimited Models/VarietiesThe decrease in sales growth from 20% in 2004 to 9% in 2009The stiff competition from low priced and easily available Chinese and Korean sunglasses

16. Describe the profile/characteristics of the brand’s core/loyal customers

17. MethodologyExploratory studyPrimary Data Collection10 focused personal interviews with Rayban users across the country.3 focused group discussions in Manipal.Secondary Data Referred

18. Psychographic ProfilingSunglasses High involvement CategoryComplex Buying BehaviorPurchase process governed by the consumer behaviorAIO ( Activities, Interests and Opinions ) Framework has been used.Respondents were asked to rate on the various statements on a scale of 1-5.1 – Strongly Disagree and 5 – Strongly Agree

19. StatementsI seek advice of friends on which brand to buyI look at price at whatever I buyI follow latest fashions very carefullyI prefer quiet evening over a noisy partyI like to do volunteer work for service organizationsI am more independent than most peopleMy friends often come to me for adviceI watch out for any sale/discount offersI dedicate long time/importance to dress smart I like spending with my girl/boy friend in a park rather than discoI do not feel community work is just a way to get the limelightI like to be considered a leaderI often influence what my friends buyI do not purchase any important product without consulting my friends

20. Rotated Component MatrixInformation SeekerCommunity Minded, yet Low profileSelf Confident and Opinion LeaderFashion Conscious

21. Psychographic ProfileCommunity Minded, who doesn’t show off ( Low Profile)Fashion ConsciousInformation SeekerSelf Confident and Opinion Leader

22. Demographic ProfileAge: Prominently people in the age group of 22 – 40 i.e. Generation X and Generation Y (Young and Middle aged)Income: Family income of greater that 4 lakhs per annum (Approx.)Education: Well educated, graduate or post graduate.Occupation: Students and working professionals

23. Customer’s perception of the brand against the competitors

24. Comparative Analysis : Brand PositioningBrand Positioning : Need to arrive at the positioning platformsFactor Analysis was used to identify platformsValue For MoneyProtectionQuality Of the ProductComfortStylish productStatus Symbol

25. Contd.

26. Multi-Dimensional Scaling

27. Present positioning : Perceptual mapping

32. Most Compelling Reason for Buying the brandStyle, Quality, Protection – Points of ParityThe iconic Brand – Point of DifferentiationRayban – Perceived to be status symbol

33. Identify 5 most important attributes of the brand that you will identify, which need to be strengthened/modified

34. Factor AnalysisExploratory study gave us the following variables pertaining to the brandDesign/AestheticsU.V ProtectionPriceRobustnessBrandComfortStyle StatementStatus SymbolLong LifeProtection from Dust

35. Contd.1. Protection = UV protection + Protection from Dust 2. Quality of the Product= Robustness + Long Life3. Status Symbol = Brand + Status Symbol4. Style = Style Statement + Design/Aesthetics5. Value for Money -> Price6. Comfort

36. Factors to be StrengthenedStyle : Currently in the space where Fastrack is also competing. Hence a need to strengthen this positioningValue For Money : Products can be priced strategically to ensure a pull from Fastrack customers into Rayban customers.

37. Conjoint Analysis

38. Combination of metal & polymer; Detachable & interchangeable lens and side-barsQ12. Choose the best/most appropriate combination from above and modify the brand

39. Current customersMain focus: New segment of rugged users16 – 35 yrsMale & FemaleBenefit sought: no-slip & comfortable grip, high quality lens & build and a stylish designSegment Description (New range)

40. Eyewear for rugged and outdoor usePositioned as durable, stylish and young Customers who indulge in adventure sports or any similar outdoor activityPricing: Rs 2,499 -5,499 Shall not dilute the Ray Ban brand Inviting customers of lower priced competitors such as FastrackPositioning – RayBanGame

41. Current Print Ads

42. Proposed Print Ad for the new “GAME” Range

43. Defining modified brand

44. Key CompetitorsOakleyAdidasNikeCompetitive AdvantageTrust and Brand Recall Key stake holdersCustomersDesign teamDistribution channel partnersSuppliersDefining modified brand

45. AttributesTop quality materials such as gripping polymer with a metallic skeletonSoft feel materials prevent scratching and damage to skinInterchangeable lenses and sidebarsHigh quality UV protective lensesRange of colors , Finish - glossy or matteAerodynamic shape to minimize wind resistanceProtective silicon coating on surface for all-weather durability and stain-scratch resistanceDefining modified brand

46. Value Proposition:Superior quality product Suitable for not just outdoor activities and adventure sports but also for an active urban lifestyle.Stylish and durable eyewear Host of customization options Superior UV protectionDefining modified brand

47. Excellent brand recall amongst both users and non-usersUsed mainly for its style and statusPerceived as delicate New sporting rangeA new option The brand pull ensures attention Attractive FeaturesFastrackWhy do you think that your new modified brand may perform better than the earlier?

48. Study of Ray Ban Consumer Behavior by ServansingDivya, 2008http://www.urbanoptiques.com/eyewear/designer-eyewear/rayban/the-ray-ban-storyhttp://www.afaqs.com/media/story.html?sid=1724http://chemicals.zibb.com/trademark/ray-ban/29881494Ray-Ban Official Website, Ray-Ban company website http://www.rayban.comhttp://www.luxottica.com/en/brands/house_brands/ray_ban/http://www.accessmylibrary.com/article-1G1-187607119/results-rayban-sun-optics.htmlhttp://www.indiainfoline.com/Markets/Company/Fundamentals/Profit-Loss/Rayban-Sun-Optics-India-Ltd/500044http://www.nielsen-online.com/downloads/us/BAM_US.pdfReferences