Marketing Strategy and SWOT Analysis of Ray-Ban
It is important to take care of our eyes. We unintentionally take them for granted but there is more we can do to take better responsibility for them. Protecting our eyes from ultraviolet light is an outstanding essential. Certain eye diseases come from overexposure to ultraviolet light. One thing that can prevent potential issues from coming about, is sunglasses. Today, we are going to talk about Ray-Ban. This company offers not only sunglasses but prescription glasses as well. But what is it about the marketing tactics that this company uses to keep up with the developing market? We’re about to find out in this blog.
To begin with, we are going to take a look at the mission and vision statements of Ray-Ban.
The company does not have an official mission statement but its core values are timeless style, authenticity, and freedom of expression.
Fashion rapidly evolves and undergoes changes. People that truly care about their appearance and all the things contributing to it, tend to spend a lot of money. However, some staple pieces are worth investing in because they are most probably going to last for a good amount of time. One of those items is glasses. For instance, having a nice pair of black sunglasses goes a long way. It can be accessorized with any outfit that you can think of.
Another thing that this company cares about is authenticity. The relationship between Ray-Ban and its customers is genuine. The company does not have a tendency to lie to consumers about the quality of the product, unfair prices, and so on. But it offers goods that are worth the investment.
Freedom of expression is another major value. Every aspect in different people varies. Everyone has different personalities and different ways of self-expression. One of the ways that people generally represent themselves is through style. And, of course, a style can not be properly completed without accessories. This is where the products of this brand come in handy.
Now, we are going to move on to the vision statement of Ray-Ban.
“What’s now popularly known as anti-glare, this signature eyewear effectively cut down specific spectra of light while giving the user excellent vision”.
You may wonder, “What is anti-glare?”
Anti-glare is a thin coat on the covering of eyeglasses. Anti-glare enables more light to transfer through lenses. You may be surprised but this awesome design contributed to the improvement of your vision by decreasing the mass of glare that mirrors off of your eyepieces.
Thus the sales of this company are not purely for earning money. There is a lot more that comes with the products that Ray-Ban puts out there. The company considers every small detail that may affect the consumers. Hence why all those features are carefully structured so people are left satisfied.
This is a strong vision benefiting both the business and the consumers.
Next, we are going to analyze one of Ray-Ban’s Instagram posts. That is going to help us identify the archetype that the company belongs to.
The Instagram page of Ray-Ban is pretty simple. It consists of photos of glasses or people modeling them. You would think there is not so much thought put into them, but the company reaches out to influencers to help better advertise its products. That comes beneficial for both parties involved.
This post is no exception, it is of Patrick Mason modeling a pair of Ray-Ban sunglasses. Patrick is an artist whose Instagram account has over 60k followers. He is actually the one that designed that exact pair.
His very charismatic and eye-catching persona elevates the publication to a whole other level.
The caption of the post is another thing to pay attention to. At first glance, these glasses look extremely different, fresh, and new. In other words, ‘non-ordinary’ just like it is mentioned in the caption.
If you are thinking you would get tired of those chains, or would not need them with every outfit, do not worry, the company has thought about that too.
The plastic chain is attached to the frame via magnets. Thus, you can remove them when you feel like it.
So, what does this post tell us?
The company wants to make a change, it invents products that are different, and convenient, just like the piece in the post.
Freedom is another inseparable supplement of Ray-Ban. It does not want its consumers to fear standing out and being themselves.
This company wants people to be confident and act as what society would call ‘rebellious. Ray-Ban wishes to destroy seemingly unfair labels.
All of these points lead us to believe that the archetype that Ray-Ban belongs to is The Outlaw.
What do we know about this archetype?
Desire: revenge or revolution
Aim: to destroy what is not working
Strategy: disrupt, destroy, or shock
These are the messaging levels of The Outlaw.
Level One: feeling powerless, angry, mistreated, under siege
Level Two: identifying as an outsider, the values of the group or society in a way that flies in the face of conventional behaviors and morality
Level Three: behaving in shocking or disruptive ways.
Level Four: becoming a rebel or revolutionary.
The Outlaw may be a good identity for your brand if:
- customers and employees are feeling very disaffiliated from society or identify with values at odds with those of society at large
- the function of your product is to destroy something (actually, like a bulldozer, or virtually, like many video games) or is genuinely revolutionary
- your product is not very good for people so that using it is akin to thumbing your nose at society’s ideas of what constitutes health
- your product helps retain values that are threatened by prevailing ones or pioneers new and revolutionary attitudes
- your product’s price is low to moderate
And now we are going to discuss the SWOT analysis of Ray-Ban.
Strengths
Well-established brand: Ray-Ban was established back in 1937. The company has been doing so great ever since that to this day the result is still noticeable.
High-Quality and Durable: As it was already mentioned somewhere along this blog, the products that Ray-Ban offers are of high quality. They are typically so superior that making a purchase once can make you go a long way. They are definitely a good investment.
Broad selection: The sunglasses and prescription glasses that Ray-Ban sells are not of limited options. This company has items of many colors and numerous styles. Thus, anyone, and we mean anyone, can find whatever they desire that fits their style the best.
Gender-Neutral glasses: This term is surely one that different brands take advantage of. Putting out there an item with color and style that is unbiased is a smart move. While many people like vibrant and outstanding pieces, some others prefer neutral ones.
Appealing to many generations: Ray-Ban targets people of all age groups. It does not only focus on the new or old generation per se. But instead, Ray-Ban invents pieces that people of different ages may be attracted to.
Offers anti-reflective lenses: While discussing the vision statement of the company, we already talked about how amazing its lenses are. They have a coating that protects eyes from ultraviolet lights.
Weaknesses
Costly Product: One of the weak points of Ray-Ban is that its products are of high prices. Not everyone can afford them. Some people have to save up to be able to afford one piece. Thus, other companies that have less expensive glasses are more favored by the lower and middle classes.
Limited distribution channels: Compared to other big brands, Ray-Ban is not available in many locations. It is available in only 17 countries. It sounds easy to say only 17 but think about it from a global perspective. Out of 195, that is not a very big number.
Opportunities
Protective lenses: Not every eyeglass company invents glasses with protective lenses. If Ray-Ban spreads the word about the importance of those lenses, it can definitely win some customers from opposing companies.
Chance for brand extension: Ray-Ban can benefit more from investing in more warehouses and stores in other countries. Availability in more locations is a big opportunity for this brand.
The value of individuality and self-expression: Ray-Ban does not make monotone and one-of-a-kind glasses. Its broad selection supports people pwning all kinds of styles. As a brand that values individuality and style, Ray-Ban faces much luck.
Collaboration with other similar brands: This company can work with other brands to create mixed pieces that match both of their values. For example, Ray-Ban can partner up with Royal Enfield since they share similar messages and target audiences.
Threats
Hard economic times: When the World faces a financial crisis, people are less likely to invest in luxury items. Sunglasses and even prescription glasses are not survival necessities. Hence why their role lowers to an immense amount.
Other brand loyal customers: There are competitors with reliable consumer bases as well. When the time arises for a new purchase they would rather buy from a known brand than try something new.
Ray-Ban knock-offs: Some stores sell cheaper versions of sunglasses that look Ray-Ban-inspired. To add more to it, those glasses are more affordable.
Last but not least we are going to try to find out the segment that Ray-Ban has chosen to target.
Before doing so, let’s watch the video.
The video is showing several chic people doing their thing at a record store. There is not really any way to go deeper about this than to come to one inference. The idea behind this video is that these people are living their best lives through the lenses of their glasses. They are simply having fun jamming to some good music.
The biggest hint that we get is the prices of the glasses. As we already are aware, Ray-Ban’s glasses are pricey. The people in the video intentionally or non-intentionally are trying to show it off. Because in their minds, money is the way of ‘making it’.
The second sign is self-enjoyment. We clearly see that the characters of the video are simply having fun.
With these two thoughts in mind, it becomes obvious that the segment that Ray-Ban has chosen to target is Breakouts.
What do we know about them?
Lifestyle and values:
Breakouts are pretty status-oriented. The more money they make, and the more recognized they are, the more satisfaction it will bring them. They will do everything of their power to get at the top of their career, even if it means cutting family time.
This segment is generally a leader. However, they are also great at working in groups.
Breakouts enjoy investing in luxury goods. This is actually a downside of their personalities. The reasoning is that Breakouts tend to waste a lot of money without thinking twice.
This segment deeply cares about the way they look. Appearance is what speaks of achievements.
Breakouts love to be the center of attention. Contributing to it, however, is their self-enjoyment. They like to constantly seek adventures and are not scared of taking risks.
Surprisingly enough, a sustainable and healthy lifestyle is not an area of interest for this segment. They are not by any means interested in recycling and preventing pollution. They let others around them do the job.
Breakouts do not typically exercise. And when it comes to food, they eat whatever they desire, without thinking of the long-term effects. For instance, if they crave fried food or too many sweets, nothing is holding them back.
Attitude to shopping:
Breakouts like to seek new brands and try out new things. They tend to spend a lot of money on items that they do not necessarily need. However, they also sometimes use smart strategies to not waste more money. For example, they wait until products lose their hype and become more affordable to make a purchase.
When it comes to clothing, Breakouts are not about thinking about money. The most money they spend is on clothes. In this area, however, this segment is most probably going to buy from mainstream brands.
Other interesting facts:
Breakouts
- Spend a large part of their free time hanging out with friends
- Prefer pubs and discos when going out
- Are not interested in cultural events and activities
- Do not participate in sports
- Are not technologically educated
- But are good at fixing things manually
- Are not keen on traveling
- Prefer passive holidays
- Consume media mainly for entertainment
- Are average press readers
- Are slightly above average radio listeners
We hope you enjoyed this blog where we discussed Ray-Ban, a well-known eyeglass brand. To learn more about its rise to success, we did a deeper dive into its marketing. We first looked at the mission and vision statements of the company. Then, we analyzed an Instagram post that helped us discover Ray-Ban’s archetype. We later talked about the SWOT analysis of the company. And the last topic that we covered was the segment that Ray-Ban has decided to target. To read more entertaining blogs like this where we learn more about marketing in general, make sure to visit our main website.
