Company Name – Ray-Ban
Founder- Leonardo Del Vecchio
Ray-Ban is an American eyeglass brand established in 1937 under the company Bausch & Lomb. Best known for the marketing of Aviator and wayfarer eyeglasses, the company was sold to an Italian brand Luxottica Group in the year 1999. Along with hard-earned goodwill, the valuation of the eyeglass company was estimated at 640 million dollars in the year 1999.
How It All Started
The US army Colonel John A. Macready was a responsible officer in his field. He was concerned about the army pilots who had to face illusions due to the natural light issues in the higher altitudes, while flying an aircraft. In the year 1929, Macready along with the two medical instrument manufacturer Bausch & Lomb came up with an idea of designing eyeglasses to fight the concern.
The result was finally falling into place. In the year 1936 the trio came up with the specially crafted aviator glasses with a plastic frame and green lens, which served the purpose well. The company was finally patented as Ray-Ban. The upcoming years witnessed the growth of the company, both in their technology and economy.
The Ray Ban Company got into shape in the year 1937. Established in the heart of New York City, the company have its headquarters set in Milan, Italy at present. Leonardo Del Vecchio, an Italian billionaire businessman is the founder of the company that worked harder to set a position it owns today.
The brand proudly serves its purpose all over the world. With brand showrooms located in various countries, Ray-Ban is one of the biggest names in the eyeglass industry.
Ray-Bans Marketing strategy and Interesting Reasons behind its Success
The marketing strategy of a company plays a key role in stating it’s posting in the world business. Analysing the way a company runs on the basis of marketing its products reflects a lot about the brand name. Maintaining the monopoly, Ray-Ban has its own which has been grounded with strong roots. The four- P states the same – Product, Price, Place, and Promotion
- Starting with the Product. Be it any company, what matters at the initial level of the launch is the product itself. On the first-hand experience is not expected of course, but a fixed mark of quality should be maintained to launch the same. Talking about Ray-Ban the eyewear brand set up with the aim to market aviator goggles. The same continues to be the product even today. The only change being the gradation in the quality, styles, technology implemented science in manufacturing the eyewear. Over the years the brand has managed to stand out from the rest because of the quality product it delivers.
- Secondly, Price is a factor that has key roles in marketing if the product. There are certain subdivisions that plan the price of the product. Of course, the quality and features come in the first place. The flexibility of the frame, the quality of the lenses, the different lens to serve varying purposes, the materials involved in making the frames and eyeglass etc. And once all the factors are sorted with, the Ray-Ban clearly targets the status class for marketing, their products. Of course, the price though worth it! The world-class brand is well-deserved for the price they ask for.
- Place – Ray-Ban is a world-class brand as said earlier, serving with absolutely classic aviator and wayfarer eyewear across the world. There are several brands and websites that market the eyewear on behalf of the brand itself, availing fair price and negotiable discounts. Also, the world-class authority is reflected in the personally owned showrooms and stores located in different countries and states.
- Finally the Promotion. Now the concept of promotion is an interesting thing to focus on. The modern-day technologies and of course social media sites have made the job much easier than before. The Promotion basically means educating the people about the brand and the services that they avail. Ray-Ban personally chooses to do so with hoardings. The company owns its personal social media site that constantly comes up with innovative advertisements and videos to attract the viewers. The stories they portray through their campaigns are sure to make on want the eyewear the Ray-Ban specifically market!.
The current position Ray Ban acquired today in the world eyewear industry is worth appreciating. And over the years their marketing strategy has helped shape the position. Surely you will too end up wanting one for yourself, looking at their advertising strategies!
The campaigns also play important role in deciding the position of the company. The concept comes into action in order to connect with people. It can be said to be a part of the marketing strategy but somewhat different. Maintaining their uniqueness the campaigns initiated by the Ray-Ban are also directed to classic levels. In the year 1999 when the Ray-Ban was sold to the Luxottica Group, the campaign took new shapes.
The Road trip campaign was directed in order to portray four solo characters in a row that matched up to the modern way of lifestyle. Basically the continuation of the past camping, projecting the featured actor letting go of his past that is literally chaining him down. The message conveyed is strong enough to turn heads and attract attention.
Several other campaigns were also initiated by the brand that reflected stories relatable enough for the viewers. Holding a strong grip on the psychological arena, the brand is doing great work in attracting the viewers and finally increasing their market.
The brand started with an aim to serve the army personnel with the best quality of goggles to help fly the air crafts at a higher altitude has indeed turned up a better result. The initiative taken by John A. Macready and appreciated by Bausch & Lomb has gifted the world classic eyewear. The journey that started with a good thought ended up being the best brand name in the global eyewear industry.
Be it a classic set of goggles or a desired eyewear the brand has emerged over the year. Ray-Ban is literally the eyewear paradise.