Detailed Marketing Analysis Report: Ray Ban Ferrari Edition Sunglasses

This report presents a comprehensive marketing analysis of the Ray Ban Ferrari Edition sunglasses. It begins with an executive summary and introduction, followed by a detailed SWOT analysis that identifies the product's strengths, weaknesses, opportunities, and threats. A competitor analysis highlights key rivals, such as Oakley, and evaluates their market positions. The report outlines the mission and marketing objectives, including financial targets and strategies for product differentiation and customer base expansion. The marketing mix, encompassing product specifications, pricing strategies, distribution channels, and promotional activities, is thoroughly examined. A digital marketing communication plan is proposed to leverage online platforms and digital tools. The report concludes with an action plan, implementation strategies, and control mechanisms to ensure the successful launch and sustainable growth of the Ray Ban Ferrari Edition in the competitive market. The report emphasizes the importance of product differentiation, customer satisfaction, and efficient resource utilization to achieve the company's marketing and financial goals.

Running Head: Marketing Management and Digital Communication
Marketing Management and Digital Communication

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Executive summary
The report evaluates the marketing analysis of the Ray Ban sun glasses of Ferrari edition. The
companies Ferrari and Ray Ban are premium brand companies which helps the new product to
grow sustainably in the efficient market. The report provides SWOT, competitive analysis,
mission and objective of the product. Further details about the product are discussed below:

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Contents
Executive summary.....................................................................................................................................1
Introduction.................................................................................................................................................2
SWOT...........................................................................................................................................................2
Competitor Analysis....................................................................................................................................3
Mission........................................................................................................................................................4
Marketing and financial objective...............................................................................................................4
Marketing Mix.............................................................................................................................................5
Digital Marketing Communication Plan.......................................................................................................6
Action plan to achieve objective..................................................................................................................7
Implementation and control of plan............................................................................................................8
Conclusion...................................................................................................................................................9
References.................................................................................................................................................10

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Introduction
The business plan states the marketing analysis of the Ray Ban product of Ferrari edition. The
Scuderia Ferrari collection of Ray ban glasses is the new product invented by the company Ran
Ban. In this report the SWOT analysis of the product is displayed which show the chance,
advantages and weakness of the product to place them in the market. Further it also provides
competitor analysis along with marketing and financial objectives of the product to fulfill. The
mission states the objective of the company in the target market. Apart from that the report also
identified the marketing mix of the product which helps the company to know about the
specifications of the product (Vigneron, & Johnson, 2017). Lastly implementation and control
process of management is decided to assist the mission of the company. Further details of the
plan are discussed below:
SWOT
It refers to the advantages and disadvantages which can either assist or decrease the growth of
the company. Further the SWOT analysis of Ray Ban F1 edition is discussed below:
Strengths: the forte of the product is that it is a classic collection of ray Ban Company. Being
made under the name of both the renowned company, it will get easier for the product to
capitalize the market. As Ray Ban and Ferrari are on its peak in their particular target markets, so
this acts as an advantage to the company for the sale of their product. Strength of the product is
its specialized classic designed collection, this initiates the customers to purchase the product
firstly due to the product design and secondly due to the brand image (Scott, 2015).

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Weakness: Ferrari and Ray ban both companies sell premium brand product in the market. also
the company Ferrari Scuderia sponsors ray ban goggles with a view to earn profit from the
product manufactured, due to which both the companies will include their profit margin in the
product. This arrangement will lead to increase in price of the product. Although it is known that
F1 collection is itself a premium product, still the price of the product shall be affordable by all.
But only few people in the target market can’t afford this collection which acts as a drawback for
the company (Ryan, 2016).
Opportunities: opportunities are chances which the company and products receives with the use
of which they gain capitalization in their market. The benefits of Ray Ban are that they provide
differentiated products in the market with UV protection glasses in them. Now a day’s people
look for classic collection which secures the eyes of people from harmful rays and this product
helps them in protecting their eyes. So, this feature of the product acts as opportunities by the use
of which they can grow in the competitive market. Also, if customers like the quality of the
product then they will create goodwill of the product in the market through which sales will
increase (Armstrong, et. al., 2015).
Threats: this product is currently invented in the market, o there are already many competitors
of the product existing in the market. So, in order to increase the sales the product firstly need to
settle itself in the market by creating product differentiation. It can act as a threat for the
company to cut the competition and initiate sustainable working of its business (Suh, 2014).
Competitor Analysis
The major competitor of the F1 collection of Ferrari is Oakley. Although Oakley and ray ban
comes in the same parent group which is Luxottica, there is a cut throat competition between the

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products. After ray ban Oakley is the second best company prevailing in the market, it holds a
major market share. Oakley produces stylish eyewear, due to which ray ban somehow saves
itself as the stream which ray ban follow is classic collection and Oakley manufactures
fashionable glasses (Bull, et. al., 2016).
Mission
Ray ban was introduced in the year 1837, since then it is the aim of the company to flourish the
market with their products. The company aims to achieve sustainability by selling differentiated
products in the market. For F1 collection, the mission of the company is to provide
comfortability to the customers by selling classic collection with UV protection sunglasses. The
company also aims to provide high-ended premium quality products in the market. By looking at
the market data it can be said that the aim of sustainability of ray ban is fulfilled in the market
but, they aim higher to reach at every corner of the world and provide them such services (Hou,
Wu, & Du, 2017).
Marketing and financial objective
At the beginning of the product every company aims for some objectives which they need to
fulfill in upcoming certain time period. Further the six monthly marketing and financial objective
for the ray ban Ferrari collection products are discussed below:
 Create product differentiation and place the product on the peak in the market.
 Upsurge the customer base.
 Increase their area of providing services by the way of opening outlets at different places.

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 Being a newly introduced product in the market, the main financial aim of the company is
create sustainability of the product in the target market.
 Reduce the cost of production and increase profit margin.
 Initiate repetitive sales.
So, the above mentioned are the six monthly goals which the company aspires t fulfill with the
help of marketing plan (Cezar, & Raghunathan, 2016).
Marketing Mix
Marketing mix a part of marketing plan which helps the company to gather information about the
product, its best price, the place in which it shall be situated and the mode of promotion through
which company shall circulate information about the product. Further the marketing mix of the
ray ban F1 collection is discussed below:
Product: being manufactured under the name of companies like Ferrari and ray ban, no person
can doubt on the quality of the product. Further talking about the pacification of the product, it is
a classic collection of ray ban with UV protection Glasses in them. The design of the product has
unique mirror acrodynamic design which assist people comfort along with style. The additional
specialty of the product is that it is design with the view of Ferrari and manufactured by ray ban,
so the quality of both the companies are included in it. Also the product comes under the
guarantee period which helps the customers to build trust on the product and the company as
well (Journeault, De Ronge, & Henri, 2016).
Price: Ray ban uses price skimming techniques to decide the prices of the product which shall be
offered in the market. Price skimming refers to techniques of selling the product at a prices

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which enables the company to gain higher return in the market. Only the skimmed customers
shall buy this product as the prices are kept high by the company. also the company enjoys the
first mover advantage, as the product ad technique used in the market is new due to which the
company can quote any price of the product according to their on which buyers shall purchase
the product (Stone, 2016).
Place: it refers to the availability of the product in the market. As it is known, that both the
companies Ferrari and ray ban have their outlets at different parts of the world due to which it
will get easy for the product to place them in the market. The F1 collection of ray would also
channel itself through same medium from which ray ban channelize their other products in the
market. Further as the company wishes to increase the market share, so with the introduction this
product in the market, ray ban can setup their outlets at different places as well. So, lastly it can
be said that they product will not find it difficult to place itself in the market as Ferrari and ray
ban are already holding a major market share (Signori, & Flint, 2016).
Promotion: it refers to the mode through which the company promotes it product in the market.
In order to introduce a new product in the market, the first thing which a company needs to do is
communicate adequate information about the product in the market. So, the company shall
promote this product through social media websites. As most of the people now make purchase
through online websites, so it is considered as the best means through which the company shall
promote their product in the market. They shall communicate and circulate the information of the
product through their websites as well so that all prospective people get to know about the new
product development made by the company (Baker, & Saren, 2016).

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Digital Marketing Communication Plan
To spread the product in the market, the company needs to circulate adequate information about
the product in the market. For that purpose as discussed earlier, the company initiates to use
digital media for promoting the product in the target market. They shall inform people regarding
the specification of the product through emails, messages etc. Apart from that they shall initiate
drone technology to introduce the product in the target market. Digital communication in today’s
world is necessary as it helps the company to communicate with mass at a same time (Guzmán,
& Davis, 2017).
Action plan to achieve objective
Following actions shall be taken into process to fulfill the marketing and financial objectives of
the product.
 The company shall implement differentiation in their product so that repeated sales are
made by the customer. This will also reduce the competition which will automatically
affect the sale of the company positively.
 Customer base of the company can be only increased in the company by providing
quality products and services to the customers of the company. Thus, the management
shall strictly following the quality parameter so as to increase the customer base.
 For setting up outlets in other places, the company shall firstly improve the sales to the
level of that new stores are required in the market. Adding to it, they shall also setup their
outlet at the places where the product is highly demanded in the market (LUCCHETTA,
2016).

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 Sustainability is one of the important aspects of the company which shall be maintained
and followed by all. The company shall work in such a way that sustainable future of the
product is maintained in the market.
 Efficient usage of resources shall be made so that cost of production decrees and profit
margin increases.
 Repetitive sales are one of the biggest factors of growth of a company. It helps the
product to gain the competitive edge in the market. Repetitive sales happen only when
the customer gets satisfied with the quality of the product. So the company shall develop
genuine quality product to initiate repetitive sales (Mosca, & Giacosa, 2016).
Implementation and control of plan
The company shall implement the plan in such a way that it provides benefits to both the
companies along with the customers. They shall initiate form a marketing plan for the
management which shall be strict followed by al the employee of the company. Assisting to it
the manager shall scrutinize the activities of the employees initiated in the market. Further new
recruits shall be hired which shall provide ideas to the company better optimization resources
and creating better sales. So in this way the marketing plan shall be implemented in the
organization to achieve sustainability along with better sales (Sarkar, & Sarkar, 2016).
In order to control the managerial activities of the management, it is the duty of the manager to
inspect and scrutinize the activities of the management. Further control can be initiated in the
management by giving adequate authority and responsibility in the management. With this the
employees of the company will become accountable towards fulfillment of their duties resulting
to which control will get initiated in the management. The management shall make plans and

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execute them, at the end of the plan they shall retrospect the outcomes with the planned outcome.
Deviation shall be identified and control measures shall be implementing to resolve the issue
(Baker, & Saren, 2016).
Conclusion
Thus, in the limelight of above mentioned events the fact that shall be noticed is that the
company ray bay is a highly efficient company constantly growing in the global market. Further,
the new product introduced in the market shall be promoted though social media websites so as
to increase the sales of the company.

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References
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