Rayban - Brand Audit and Modification

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A brand audit and brand modification exercise undertaken by the PGDM students at TAPMI, Manipal

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Rayban - Brand Audit and Modification

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  3. 3. RAY BAN<br />By: Group H<br />
  4. 4. Founded in 1937 by Bausch & Lomb<br />Army was looking for a sunglass to protect aviators from the damaging rays of the sun, that would also look elegant<br />1952 – broke tradition with Wayfarer<br />Competition in disco era<br />1982 - $ 50,000 contract for placement in movies -> Risky Business<br />1990 – Comptt from Oakley, fell flat<br />2007 – Re-introduction of Wayfarer<br />The Ray Ban Story<br />
  5. 5. Rayban Sun Optics India Limited <br />100 per cent subsidiary of Luxottica Group<br />2 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). <br />Manufacturing units in Bhiwadi (Rajasthan)<br />Distribution strength of 1,000 dealers across 195 cities in India <br />Annual turnover of Euro 10 million in 2005 in India.<br />Ray Ban in India<br />
  6. 6. Global sun glasses market in 2010 $ 4.8 Billion <br />Estimated to grow to $11 Billion in the next five years<br />Rayban’sFacebookPage <br />Million followers<br />Rate of average 2,300 new followers per day<br />Present value of the brand globally is estimated to be around $1.8 Billion<br />Luxottica in India received the Pinnacle Award as Best Eyewear Brand for 2009 from Shoppers Stop<br />Performance of the brand<br />
  7. 7. In 2009 there was a healthy growth with an increase in sales by over 9% <br />The present market share of Ray ban in India is estimated to be around 30%.<br />
  8. 8. Name<br />Brand Awareness – Almost 100% Recall<br />Brand Association – Almost 100% synonymous with the category itself<br />Logos & Symbols<br />Brand Elements<br />
  9. 9. Compared to Comptt (India)<br />
  10. 10. Latest Strategies<br />Re-Introduction of Original Ray-Ban Wayfarers<br /> Expanded color options and color patterns<br />Ray-Ban stands out as a choice for original vintage sunglasses<br />Global Advertising Strategy<br />No. of users who discovered Ray-Ban through media are a mere 38.5%<br />Ray-Ban in films: Ray-Ban currently displays itself in over 160 films and TV shows in a year on various celebrities<br />Launched a viral marketing campaign ‘Never Hide’ which promotes the creativity of every user/prospect via pictures, short videos etc<br />Virtual Mirror – Believe it or not – Try your own sun glasses virtually<br />Postponement Manufacturing<br />A full pull system of manufacturing <br />Which color sells the most is the toughest to estimate, hence the spraying stage is postponed<br />
  11. 11. Virtual Mirror<br />
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  13. 13. The latest Ray-Ban Ad<br /><ul><li> Image of a man with a pistol, moustache and Ray-Ban
  14. 14. Touches the hedonic aspect instead of the utilitarian angle
  15. 15. The ad aims at retaining the original masculine image of the product</li></li></ul><li>Strengths<br />Good brand image: It is a well known brand which was built over the years<br />Wide presence in over 50 countries<br />Successful Promotions through social media and viral marketing<br />Weaknesses<br />Limited Models/Varieties<br />The decrease in sales growth from 20% in 2004 to 9% in 2009<br />The stiff competition from low priced and easily available Chinese and Korean sunglasses <br />
  16. 16. Describe the profile/characteristics of the brand’s  core/loyal customers<br />
  17. 17. Methodology<br />Exploratory study<br />Primary Data Collection<br />10 focused personal interviews with Rayban users across the country.<br />3 focused group discussions in Manipal.<br />Secondary Data Referred<br />
  18. 18. Psychographic Profiling<br />Sunglasses <br />High involvement Category<br />Complex Buying Behavior<br />Purchase process governed by the consumer behavior<br />AIO ( Activities, Interests and Opinions ) Framework has been used.<br />Respondents were asked to rate on the various statements on a scale of 1-5.<br />1 – Strongly Disagree and 5 – Strongly Agree<br />
  19. 19. Statements<br />I seek advice of friends on which brand to buy<br />I look at price at whatever I buy<br />I follow latest fashions very carefully<br />I prefer quiet evening over a noisy party<br />I like to do volunteer work for service organizations<br />I am more independent than most people<br />My friends often come to me for advice<br />I watch out for any sale/discount offers<br />I dedicate long time/importance to dress smart <br />I like spending with my girl/boy friend in a park rather than disco<br />I do not feel community work is just a way to get the limelight<br />I like to be considered a leader<br />I often influence what my friends buy<br />I do not purchase any important product without consulting my friends<br />
  20. 20. Rotated Component Matrix<br />Information Seeker<br />Community Minded, yet Low profile<br />Self Confident and Opinion Leader<br />Fashion Conscious<br />
  21. 21. Psychographic Profile<br />Community Minded, who doesn’t show off <br />( Low Profile)<br />Fashion Conscious<br />Information Seeker<br />Self Confident and Opinion Leader<br />
  22. 22. Demographic Profile<br />Age: Prominently people in the age group of 22 – 40 i.e. Generation X and Generation Y (Young and Middle aged)<br />Income: Family income of greater that 4 lakhs per annum (Approx.)<br />Education: Well educated, graduate or post graduate.<br />Occupation: Students and working professionals<br />
  23. 23. Customer’s perception of the brand against the competitors<br />
  24. 24. Comparative Analysis : Brand Positioning<br />Brand Positioning : Need to arrive at the positioning platforms<br />Factor Analysis was used to identify platforms<br />Value For Money<br />Protection<br />Quality Of the Product<br />Comfort<br />Stylish product<br />Status Symbol<br />
  25. 25. Contd.<br />
  26. 26. Multi-Dimensional Scaling<br />
  27. 27. Present positioning : Perceptual mapping<br />
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  32. 32. Most Compelling Reason for Buying the brand<br />Style, Quality, Protection – Points of Parity<br />The iconic Brand – Point of Differentiation<br />Rayban – Perceived to be status symbol<br />
  33. 33. Identify 5 most important attributes of the brand that you will identify, which need to be strengthened/modified<br />
  34. 34. Factor Analysis<br />Exploratory study gave us the following variables pertaining to the brand<br />Design/Aesthetics<br />U.V Protection<br />Price<br />Robustness<br />Brand<br />Comfort<br />Style Statement<br />Status Symbol<br />Long Life<br />Protection from Dust<br />
  35. 35. Contd.<br />1. Protection = UV protection + Protection from Dust <br />2. Quality of the Product= Robustness + Long Life<br />3. Status Symbol = Brand + Status Symbol<br />4. Style = Style Statement + Design/Aesthetics<br />5. Value for Money -> Price<br />6. Comfort<br />
  36. 36. Factors to be Strengthened<br />Style : Currently in the space where Fastrack is also competing. Hence a need to strengthen this positioning<br />Value For Money : Products can be priced strategically to ensure a pull from Fastrack customers into Rayban customers.<br />
  37. 37. Conjoint Analysis<br />
  38. 38. Combination of metal & polymer; Detachable & interchangeable lens and side-bars<br />Q12. Choose the best/most appropriate combination from above and modify the brand <br />
  39. 39. Current customers<br />Main focus: New segment of rugged users<br />16 – 35 yrs<br />Male & Female<br />Benefit sought: no-slip & comfortable grip, high quality lens & build and a stylish design<br />Segment Description (New range)<br />
  40. 40. Eyewear for rugged and outdoor use<br />Positioned as durable, stylish and young <br />Customers who indulge in adventure sports or any similar outdoor activity<br />Pricing: Rs 2,499 -5,499 <br />Shall not dilute the Ray Ban brand <br />Inviting customers of lower priced competitors such as Fastrack<br />Positioning – RayBanGame<br />
  41. 41. Current Print Ads<br />
  42. 42. Proposed Print Ad for the new “GAME” Range<br />
  43. 43. Defining modified brand<br />
  44. 44. Key Competitors<br />Oakley<br />Adidas<br />Nike<br />Competitive Advantage<br />Trust and Brand Recall <br />Key stake holders<br />Customers<br />Design team<br />Distribution channel partners<br />Suppliers<br />Defining modified brand<br />
  45. 45. Attributes<br />Top quality materials such as gripping polymer with a metallic skeleton<br />Soft feel materials prevent scratching and damage to skin<br />Interchangeable lenses and sidebars<br />High quality UV protective lenses<br />Range of colors , Finish - glossy or matte<br />Aerodynamic shape to minimize wind resistance<br />Protective silicon coating on surface for all-weather durability and stain-scratch resistance<br />Defining modified brand<br />
  46. 46. Value Proposition:<br />Superior quality product <br />Suitable for not just outdoor activities and adventure sports but also for an active urban lifestyle.<br />Stylish and durable eyewear <br />Host of customization options <br />Superior UV protection<br />Defining modified brand<br />
  47. 47. Excellent brand recall amongst both users and non-users<br />Used mainly for its style and status<br />Perceived as delicate <br />New sporting range<br />A new option <br />The brand pull ensures attention <br />Attractive Features<br />Fastrack<br />Why do you think that your new modified brand may perform better than the earlier?<br />
  48. 48. Study of Ray Ban Consumer Behavior by ServansingDivya, 2008<br />http://www.urbanoptiques.com/eyewear/designer-eyewear/rayban/the-ray-ban-story<br />http://www.afaqs.com/media/story.html?sid=1724<br />http://chemicals.zibb.com/trademark/ray-ban/29881494<br />Ray-Ban Official Website, Ray-Ban company website http://www.rayban.com<br />http://www.luxottica.com/en/brands/house_brands/ray_ban/<br />http://www.accessmylibrary.com/article-1G1-187607119/results-rayban-sun-optics.html<br />http://www.indiainfoline.com/Markets/Company/Fundamentals/Profit-Loss/Rayban-Sun-Optics-India-Ltd/500044<br />http://www.nielsen-online.com/downloads/us/BAM_US.pdf<br />References<br />
  49. 49. Thank You<br />

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