Marketing Structure And Product Strategy Of Lenskart)

The company’s product mix is simple. They offer a wide variety of junior, plus, men’s, boy’s and infant apparel and low prices. The company also offers accessories, shoes, handbags, and home décor to differentiate itself in the market.

Warby Parker target customers are people with a concern for style and a high quality eyewear that is at the same time affordable. Similarly, by adding a social component, the company appeals to customers that are motivated to help others and the environment. Warby Parker is well aware that some customers, especially nowadays, prefer to shop online from the comfort of their home. That is why Warby Parker implemented its convenient home try-on program designed especially for this kind of customers. Meanwhile, Warby Parker keeps gaining access to customers uncomfortable with purchasing eyewear online by taking advantage of the power of physical storefronts to promote brand awareness.

Able to diversify its product range to meet market demand including women’s wear, men’s wear, accessories and home wares.

The JW Anderson product range consists of menswear, womenswear and unisex garments and accessories. They currently produce six collections annually - two menswear and four womenswear.

Based on the market trend, it is likely the demand for the disposable lens will increase at the expense of conventional lens. Therefore, the hope to increase the sales through the distributors and the introduction of ‘frequent flyers’ scheme is unlikely to yield much result.

Thesis Statement: Sunglasses, credited for being developed in the mid-18th century by James Ayscough, have created a current day function and fashion revolution.

Traditionally, Raynonplus sold a wide range of generic and brand name eyewear including prescription lenses, contact lenses, frames and sunglasses; but

the success of the company. The pricing strategy adopted by the company for its highly durable

Warby Parker is a designer eyewear brand found in 2010, which has shifted the eyewear market by simply questioning why the cost of a pair of glass is same as an iPhone? Warby Parker has realized that the Luxottica, who own a huge market share in the eyewear industry, has been trying to control the price of designer eyewaear by keeping extremely high prices that are not affordable to all customers. This long-established industry high price model has been removed by Warby Parker by seeing things in a new perspective (Patino,2017).

The eyewear industry is a tough industry to break into with the giant of Luxottica that has been dominating the competition and it has constantly been looming over it in recent years eager to buy up any threatening competitor that emerges. This section of the paper examines the eyewear industry in terms of consumers, competitions, market/submarket and the existing marketing environment along with highlighting any existing trends.

With this come different strategies to achieve growth such as through market penetration, product development, market development and diversification. When these all are broken down in details, it becomes a clearer picture. So when it comes to market penetration it is the objective of reaching higher number of sales and having a larger share with products already existing. Out of the four strategies this is the least risky one. However, there is still some low risk because prices which are low are being used to penetrate markets and it could lead to potentially damaging price wars that reduces the profit margins of all firms in the industry. When it comes to market development, it means to sell the products already existing in a market, but to sell them in a new market, this includes exporting goods to overseas markets or selling to a new market segment. When it is about Product development it is the progress made in current existing products and then sold or even new products being sold in existing markets. For example, the launch of red bull standard, they took a product which had already been in the market before, changed it a little bit and modified it and converted into a different version and sold it in the same market where red bull standard was sold. Product development is about creating something new or modifying product into its better self to attract consumers. Moving to Diversification- it means selling unrelated goods or new products, in new markets The

We will discuss them one by one in detail. When we talk about the product, they sell a wide range of electronics from computers to household appliances, so we cannot specify one product of a kind. They maintain a separate store just for the luxury home appliances. Apart from selling goods they also provide insurance for the items at good rate. They have their brand image maintained very well.

This paper will describe the details of a fictitious company and provided its background and will develop a marketing plan with a focus on segmenting and positioning its product and service. Thirdly, this paper will determine and decide upon at least one (1) foreign market for the product and service.; identify the marketing segment for the product and provide a rationale for this segment and discuss the target market and provide a rationale for this target market. Also, it will perform a SWOT analysis (strengths, weakness, opportunities, and threats) for the

Luxottica Group are the world’s largest eyewear company, based in Milan, Italy. Their long-term corporate strategy is to create the best possible eyewear to satisfy its clients, and expand their market share by growing its various businesses, whether organically or through acquisitions1. The Company will continue to focus on the following strategic pillars: vertical integration, design and technological innovation, brand portfolio management, market expansion, financial discipline and the development of talented and committed employees1. Building strong brands that create enduring relationships with consumers is key to how Luxottica plans to sustain its business in the future.

The marketing department of B&L has analyzed all the above data and arrived at the