Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Garman/forgue companion websiteluxottica frames direct

19/12/2020 Client: saad24vbs Deadline: 2 Day

SITUATIONAL ANALYSIS


for Luxottica Group SpA


Group 25: Gurinder Singh, Josielene Avelar, Karo Jarajian Muhammad Asad, Nick Kerobyan, and Sarah Joynt


Abstract The Luxottica Group SpA, established in 1961, identifies itself as “a global leader in the design, manufacture


and distribution of fashion, luxury, and sports eyewear with high technical and stylistic quality." The company’s greatest success is attributed to its ever expanding vertically integrated business model.


However, this is proving to become a double edged sword for the glasses giant as continued speculation of its impropriety over monopolistic practices, price gauging, and breech of fair international trade


practices persists in the media. This analysis seeks to provide a systemic collection of past and present data on the company’s performance in an effort to critically access any market trends, forces, conditions


and influences that are most likely to impact suitable future marketing strategies.


TABLE OF CONTENTS Executive Summary.............................................................................................................................................. 1


Company PROFILE................................................................................................................................................ 2 Missions, Strategies and Objectives ........................................................................................................... 4


Competitors ............................................................................................................................................................. 5 Competitor SWOT Analysis for Frames Direct (FD) ........................................................................... 5


Frames Direct strengths: ............................................................................................................................... 5


Frames Direct Weaknesses: .......................................................................................................................... 6


Frames Direct Opportunities: ...................................................................................................................... 6


Frames Direct Threats: ................................................................................................................................... 7


Competitor SWOT Analysis for Warby Parker (WP) .......................................................................... 7


Warby Parker Strengths: ............................................................................................................................. 7


Warby Parker Weaknesses: .......................................................................................................................... 8


Warby Parker Opportunities: ...................................................................................................................... 8


Warby Parker Threats: ................................................................................................................................... 8


Gaps in The Market & Trends at Industry Level: .................................................................................. 9


Customers ................................................................................................................................................................ 9 Costumer Characteristics .............................................................................................................................. 9


Market size and Potential Growth ........................................................................................................... 10


Costumer Wants and Needs ...................................................................................................................... 11


Distribution Channels .................................................................................................................................. 11


Motivation to buy the product .................................................................................................................. 11


LUXOTTICA GROUP S.p.A: SWOT Analysis ............................................................................................... 11 Luxottica Internal Strengths: .................................................................................................................. 12


Luxottica’s Internal Weaknesses ............................................................................................................. 13


Luxottica’s External Opportunities ......................................................................................................... 14


Luxottica’s External Threats ..................................................................................................................... 14


The Future: Marketing & Product Objectives ......................................................................................... 14 Current Market ............................................................................................................................................... 15


New Product Recommendation ............................................................................................................... 15


Target Market.................................................................................................................................................. 16


Perceptual Mapping Studies by Subcategory ..................................................................................... 17


Works Cited .......................................................................................................................................................... 18


1 | P a g e


EXECUTIVE SUMMARY The Luxottica Group S.p.A (Lux.) dominates the ever expanding eyewear market as the single


largest private sector producer worldwide. The company specializes in all things eyewear;


mostly sunglasses and prescription lenses/frames, however they also recently began


dabbling in vision care insurance (Marketline, 2016). The company experienced immediate


post-launch success and became the go-to source for all things eyewear, quickly spreading


their tentacles across international boundaries. Now they hold a supermajority of the


eyewear market globally. Given that Global Market Insights predicts the “Eyewear Market


Size [is] forecast to reach USD 165 Billion by 2022,” the future looks very bright for Lux.


(Global Market Insights, 2016). Subsequently, the company is ideally poised to take


advantage of this prediction and rests at a juncture where critical market analysis to identify


which market segments Lux. will target, in addition to a marketing plan that ensures their


slice of this future growth is secured, is a timely matter.


While the Lux. storyline may be that it is the quality of the glasses they produce, and their


ability to “make people feel good about themselves” that has played a major role in


company’s success ("Company Profile", 2016). There appears to be another more prominent


reason why Luxottica wields so much influence in the eyewear market. More succinctly, it is


because none of their products are marketed under the Luxottica brand. This means the bulk


of the company’s eyewear product consumers have never heard the name "Luxottica" before.


In many ways, this has shaped the firm’s growth because it has shielded the public’s


awareness from the advantages, Lux. enjoy as an oligopoly at best – monopoly at worst.


Even Lux. assert their current success and “One of the competitive advantages underpinning


the Group’s past and future successes” is attributed to the goals met by this broad reaching


2 | P a g e


vertically integrated business model it “has built over the decades.” A model which they


intend to continue building on ("Company Overview", 2016).


This observation is wildly accurate when the vast array of well-known individual subsidiary


brands (SBU’s) that Lux. produces is taken into account. By implementing the complex set of


licensing agreements, global distribution networks, retail stores, and e-retail platforms it


gives the appearance each are in competition with one another (Marketing, 2013). The


brilliance of this business model has proven to be very profitable for Lux. as they can


effectively set the prices across all segments of the eyewear industry. On the other hand, this


pricing practice has started to undermine the firm’s reputation. Outside forces such as


competitors fighting for market share by undercutting on price, a steady stream of bad press


on Lux., and an antitrust ligation suit raised in France about unethical pricing practices in the


European Union (EU) are proving to be threats that must be monitored.


Best marketing practices would suggest that the more exciting and innovative Lux’s new


product developments are -- products that truly exemplify “value-added benefits” to the


user, then the easier the high-price positioning becomes to overlook. By supporting these


must-have product releases with effective marketing initiatives that demonstrate corporate


social responsibility, such as the expansion of Lux's “Onesight” charitable program, then the


more likely Lux. can overcome the taint of these niggling unethical practices and continue


beating-out their rapidly rising competitors (Axelrad, 2009).


COMPANY PROFILE


Established in 1961 by Leonardo Del Vecchio, in Agordo Italy, Lux are responsible for;


designing, manufacturing, distributing, and retailing fashion, luxury, sports, and specialty


prescription and performance enhancing eyewear products. It is widely published that their


3 | P a g e


reputation is based on an assurance of quality across their diverse product lines. As stated


on their company website “One of the Group’s competitive advantages is the vertically


integrated business model built over the years, covering the entire value chain: design,


product development, manufacturing, logistics, and distribution” ("Company Profile", 2016).


While Lux. cannot not attribute its successes to manufacturing anything under its own label,


it carries a plethora of renowned branded eyewear lines. Including, but not limited to; in-


house brands such as; Ray-Ban, Oakley, and Persol, Vogue, Arnette, Killer Loop, Revo,


Sferoflex, and T3. They also produce multiple high-end private labels under license for top


designers like; Armani, Chanel, Ferragamo, Bulgari, Byblos, Genny, Ungaro, Moschino, Anne


Klein, and more. But they don’t stop there..., the Lux. network is spread out over; 29


company-owned branches and 90 independently operated branches, that supplies the


company’s product “to more than 115 countries. They are complemented by an extensive


retail network of over 7,200 stores, with LensCrafters and Pearle Vision in North America,


OPSM and LensCrafters in Asia-Pacific, GMO in Latin America and Sunglass Hut worldwide.”


Luxottica’s product design, “development and manufacturing take place in its production


facilities in Italy, three factories in China, one in Brazil and one facility in the United States


(US) devoted to sports and performance eyewear. Luxottica also has a small plant in India


serving the local market” ("Company Profile", 2016).


If that is not enough, Luxottica not only owns retails stores in the US, such as the as the


aforementioned Sunglass Hut, Lenscrafters, etc., it also owns the insurance companies that


approve the optical glasses of people purchasing their prescription glasses in-store. Thus it


logically follows that an article Luxottica’s Success Story cites; “Luxottica is the largest


provider of eyewear and sunglasses in the world…. It controls more than 80% of the world’s


4 | P a g e


leading eyewear brands” (2016). Owning 80% of the world's eyeglasses market could be


considered monopolizing the eyewear business by any reasonable business standard.


Missions, Strategies and Objectives


In the establishment of their missions and goals, the company identifies their mission is to


“improve the well-being and satisfaction of its customers while simultaneously creating


value for its employees and the communities in which the group operates.” An ethically


sound rather "utilitarian-approach," but one that would appear to be at odds with current


public opinion considering the recent bad press for price issues and the ongoing antitrust


action. Such external threats could potentially overshadow Lux’s stream of success if they


continue to build momentum. A disparity best shut-down quickly to regain consumer


confidence and meet Lux’s core objectives. Which is to make their customers a priority by


seeking to identify what customers prefer at work and at-play, then delivering the most


innovative highest quality version of that ideal to the end-consumer (Luxottica Group, 2016).


To meet these objectives “the company’s strategy is to continue to expand in the eyewear


and eye care sector by growing its various businesses, whether organically or through


acquisitions” ("Company Overview", 2016). When initiating the development of their


products they research and purchase quality parts that will deem the final product a success


when presented to consumer audiences. In an article written by Lux representative, Localita


Valcozzena, she states; “We at Luxottica aim at protecting the eyes and enhancing the faces


of men and women all over the world, by manufacturing and selling ophthalmic eyewear and


sun wear characterized by their high technical and stylistic quality, in order to maximize our


customers' wellbeing and satisfaction” ("Company Overview", 2016).


5 | P a g e


COMPETITORS


Luxottica has two main competitors; Frames Direct and Warby Parker. Both firms are


chomping at the bit to snare a good portion of Lux’s business and take a greater share of the


predicted growth the eyewear market is expected to see over the next few years.


Competitor SWOT Analysis for Frames Direct (FD)


FramesDirect.com (FD) based in Austin TX, launched their e-retail website in 1996. They


were the first to offer optical glasses online and as a result, are considered one of the leading


online eyewear retailers today. The company currently operates in 140 countries worldwide


(About FramesDirect.com). FD’s parent company Essilor, produces a number of products


and is quoted on the EU stock exchange (Strong growth in revenue).


Frames Direct strengths:


FramesDirect.com offers more than 250 brands of sunglasses each brand with a unique set


of style and colors options. Accordingly, the company carries more than 100,000 sunglasses


on the website. Looking through this many frames can be very annoying and stressful to a


customer, but surprisingly the website offers a very user-friendly shopping experience. A


great advantage that online retailers have over retail stores is their low operating costs.


Some significant costs that are not incurred; rent, staffing, and utilities.


6 | P a g e


Frames Direct Weaknesses:


The FramesDirect.com shopping experience is very user-friendly, but like most online


eyewear retailers it does not have experts to walk a customer through a purchase. This raises


the next problem too many consumers are having. Buying glasses online that many not fit


properly without trying them first. An advantage that Lux’s retail stores hold over FD’s sales.


Further, FD ships its products to 140 countries, but international shipping costs and


estimated delivery periods can be a problem to many customers and leave them unsatisfied.


FramesDirect.com shopping experience is very user friendly, but like most online eyewear


retailers it does not have experts to walk a customer through a purchase. This leads to the


next problem many consumers are having, which is buying glasses online that fit properly


without trying them on. An advantage that Lux’s retail stores hold over FD’s sales. Further,


FD ships its products to 140 countries, but international shipping costs and estimated


delivery periods can be a problem to many customers and leave them unsatisfied.


Frames Direct Opportunities:


Consumers are becoming more “digitally mature” by the day; therefore, one opportunity for


the company is to keep up with the current industry trends. For example, developing a


mobile app that consumers can use to try on the glasses FD carries. Perhaps, an app similar


to Snap Chat filters that take selfies with glasses accessories. FD carries Oakley and Maui Jim


products but does not export them Internationally. Nor do they ship Adidas and Wiley X to


European addresses. These restrictions are impacted by licensing agreements between the


companies and geographic territories, however as FD renegotiate to expand into these areas


their market share will increase significantly and affect Lux. sales.


7 | P a g e


Frames Direct Threats:


While Lux. has its loyal customers, the market also has its limits. Thus an increase in the


number of online eyewear stores can hurt Lux. sales and decrease profits. Another threat to


FD is Luxottica’s vertical integration strategy. This gives Lux. the power to directly control


the entire development, manufacture, and distribution platforms. Effectively Lux. better


maximizes efficiency, ensures high quality, and optimizes time and costs (Business Model).


Competitor SWOT Analysis for Warby Parker (WP)


WP launched their business when their website went live in 2010. Today they own and


operate 35 retail stores across the U.S. and Canada. The New York based continues to grow


by adding investors such as American Express and Mickey Drexler. According to Wall Street


Journal, the six-year-old company was valued at $1.2 billion in 2015, (History | Warby).


Warby Parker Strengths:


One of the greatest advantages of Warby Parker is that it designs, manufactures, and sells


frames 70% cheaper than Luxottica (The Pros and Cons). Also, another advantage of the


brand is that it is one of the only carbon-neutral brands. The “Go Green” movement is at its


peak right now and encouraging a low carbon economy is what mainly separates WP from


its competitors. Many customers have a hard time finding glasses online that fit properly, but


8 | P a g e


Warby Parkers “Home Try-On” program will satisfy even the pickiest customer. Customers


can order five frames for a five-day-trial for free and exchange the frames as many times as


they like, until they find the right pair for them (History | Warby Parker).


Warby Parker Weaknesses:


The company has a very low investment in marketing, which can be cost effective, but slow


down the company growth. Another weakness of WP is that it only operates in the U.S. and


Canada, and has not expanded to foreign markets. The company currently owns and operates


35 stores, which is relatively small compared to the market size in the countries it operates.


Warby Parker Opportunities:


Some of the weaknesses of the company can be used as opportunities to expand and gain


more market share. In order to do so, WP can invest more in retail stores and expand to


foreign markets. Another opportunity is to invest more in marketing to gain more customers


in the markets it operates. Since, Warby Parker is currently a private company that has been


growing by investing from outside investors, going public will allow the company to gain


more capital to expand to foreign markets and increase the number of stores it owns.


Warby Parker Threats:


Competitors such as Made Eyewear, and TOMS are operating with similar business


strategies, which can negatively affect WP’s income statement. Furthermore, contact lenses


and laser eye corrections are becoming widely popular and inexpensive in U.S. and Canada,


which is slowly decreasing the size of the market. But the greatest threat for WP is the high


costs that the company incurs. For every pair sold, the company donates a pair, which


doubles its cost. Another cut to profits is rooted in the “Home Try-On” program, where the


WP offer unlimited free shipping and returns. Just the cost of shipping can add up to millions.


9 | P a g e


Gaps in The Market & Trends at Industry Level:


In order to gain more customers and increase their market share, companies must identify


gaps in the market they serve. Online eyewear retailers have not gained much popularity


among baby-boomers. Many baby boomers are tech savvy, but they are less likely to use the


Internet for shopping. Also, it can be harder to get glasses to fit properly when buying online.


Therefore, many people prefer to visit an optometrist or an eyewear store. Also, not keeping


up with trends at industry level can be crucial for any type of business. Within the past


decade, contact lenses have seriously increased in popularity among people with vision


problems. In an attempt not to lose market share over it, some companies took the advantage


and sell contact lenses as well as optical glasses. Laser eye treatment is another trend


reducing sales mostly among the millennial demographic. Particularly after introducing


bladeless technology in eye surgeries. In contrast, a trend that will benefit the industry in the


long run is advancement in technology. Increasingly the use of devices like smartphones and


tablets has increased the risk of future eye problems. Unless protective computer glasses or


screen covers become the norm, the demand for optical glasses will most certainly increase.


CUSTOMERS


Costumer Characteristics


Lux’s costumers are diverse in terms of demographics and socioeconomics, etc. Since the


company dominates the eyewear industry their customer base encompasses multiple age


groups, economic status, and behavioral characteristics. Lux’s portfolio includes mostly well-


known high fashion propriety brands. Some of these brands are costing customers several


thousands of dollars. Given this information it is assumed that Lux. would benefit most by


focusing on upper middle and upper classes only; however, some brands like Oakley’s can


10 | P a g e


be affordable for many middle class, or even lower middle class consumers. Add Lux’s new


venture into the vision care insurance market and they can attract customers from even


more demographics and socioeconomic groups with their mix of one-stop vision offerings.


Luxottica’s Wholesale distribution network covers more than 150 countries across five


continents. They have an extensive retail network of over 7,200 stores. These gigantic


numbers emphasize the enormous power that Luxottica yields in this industry.


Defined Segment(s)


Segment Name Demographic Behavioral


1. Middle Income Families Ages of 20 – 65+ Convenient, high utility


& high quality


2. High Income Families Ages of 20- 50 Avid fashionistas &


trendsetters


The reason costumers from segment one chose Lux. products is to benefit from the high


utility and high quality features. Since most consumers are unaware which products are


produced by Lux., they just happen to be “everywhere,” so they get to enjoy the convenience


and quality regardless. The age different between the first segment and second segments is


based on the fact that Lux’s costumers from the middle income families use Lux’s vision care


services more. Further, the older costumers have more vision problems, than the younger


ones. In contrast, consumers from the second segment have a much higher disposable


income and can therefore afford the big dollar values attached to Lux’s high end designer


brand name eyewear glasses such as Prada, Valentino, etc. Their priority is image and


following the latest and hot fashion trends carries a high value so price is less of a barrier.


Market size and Potential Growth


The future looks promising for Lux., especially in the North American region (N.A.). N.A.


offers untapped growth opportunities due to the large number of people with undiagnosed


11 | P a g e


vision corrections. According to this Lux. presentation the Vision council the N.A. eyewear


industry is appraised at $35 billion with growth of $44-47 billion by 2020 (Luxottica | Files).


Costumer Wants and Needs


In general, N.A. consumers are primarily focused on value and functionality, however, more


and more Americans are becoming attentive to design and fashion. Moreover, they are


demanding the ability to shop anywhere at any time. Lux. products satisfy this niche with


their distribution model coupled with a diverse cross-functional group of product offerings


across all demographics, budgets, tastes, lifestyles, and age group segments.


Distribution Channels


The vertical integration model allows for Lux. products to be found everywhere. The


company distributes its products through a multitude of retailers as previously listed as well


as a growing online presence through www.glasses.com. Just in N.A. alone the company is


looking to boost its sales from $2.5 billion recorded in 2012 to $3 billion in 2016.


Motivation to buy the product


While the main motivation to buy Lux. prescription eyewear is vision correction, high fashion


trends and design are also strong influencers. Most of the brands made by Luxottica are very


attentive to fashion and image. They all follow the trends, and this is the most that interest


the costumers as of now. When a person goes to a doctor and gets diagnosed, the next step


is to find “good looking” glasses. When choosing sunglasses, costumer's will pay even more


attention to fashion trends and design. Almost any sunglasses can protect from the sun;


however, Luxottica offers more than that, which is fashion, design, and great looks.


LUXOTTICA GROUP S.P.A: SWOT ANALYSIS


Lux’s future marketing decisions are best formulated based on the outcome of a thorough


https://www.boundless.com/marketing/definition/swot-analysis/

12 | P a g e


SWOT analysis. This SWOT seeks to improve Lux’s internal environments by examining how


to advance company strengths and minimize its weaknesses while expanding opportunities


through external factors and averting potential threats that could derail marketing efforts


Luxottica Internal Strengths: One of Lux’s greatest strengths is their diverse product portfolio across many market


segments and Lux’s ever growing SBU’s (single business units). While a significant fall in one


of their key lines; like Ray-Ban, 27% of net sales, or Oakley 11% of net sales, might present


some financial destabilization the remaining house brands and multi-licensing agreements


with prominent fashion designers will likely carry any minor instabilities in the market.


These well-established ties to exclusive licensed partners like; Chanel, Prada, Armani, Mui


Mui, and many others brings great prestige and validity to the company’s core competencies


13 | P a g e


(Marketline, 2016). These high profile accounts are likely to attract even more prominent


labels to license with Lux. in the future because of Lux. offer a point of differentiation in high-


quality and innovation that delivers the brand value designers want. Lux’s increasing


popularity with designer brands is predictive they can virtually own this customer base.


While Lux’s pricing power verges on fulfilling the classic definition of a “pricemaker” by


economics standards, the resulting revenue accumulation has generated high-profitability


and stock earnings. This is considered a winning formula by most business criteria, and has


contributed widely to the firm’s ability to grow its assets, production capacity, and its market


share. On the flip side, this high pricing practice has attracted a lot of bad press and an alleged


corruption claim which also raises the firm’s liability risks (BBC Secrets). However, in 2009


Luxottica launched the “Onesight” charitable program bringing “together doctors, partners


and community volunteers with 64,000 Luxottica employees in 130 countries to provide free


vision care and eyewear to those in need.” Through vision providers and resellers like


Lenscrafter’s customers purchasing new prescription eyeglasses were asked to turn in their


old frames, Luxottica will shine them back up, providers replace the lenses, and then give


them to sufferers who have limited or no access to vision care (Axelrad p.1).


Luxottica’s Internal Weaknesses


It’s still unknown what effect if any the recent bad press or risks associated with ongoing


anti-corruption practices will have on Lux’s overall sales. Given most people are unaware the


eyewear they are purchasing belongs to this company or anything about Lux’s pricing policy,


and they can avert the spotlight they may get away with it for a long time. Lux. have


established a few production dependencies that may come back to bite them later. They


entail keeping production centralized to Italy after finding off-shore production was more


14 | P a g e


expensive and sticking to limited suppliers. By placing all their eggs in one big basket, they


run the risk of bottlenecks and resource failures. Lux’s lack of scalability and volume


flexibility is prohibitive and contributes to higher pricing when there is low volume. Limited


ability to scale to demand when cycles are short and complex is high is a combination that


should be avoided. Operations should seek solutions to meet sudden changes in demand.


Luxottica’s External Opportunities


With the rise of the “internet of things” just about anything and everything is heading into a


tech-space, so in order not to be left behind Lux. could combine their unique expertise their


Intel alliance to gather momentum and launch their own revolutionary new smart-glasses.


Another obvious choice for Lux. to meet rapid growth and increase their reach into


developing global markets would be to further advance their distribution chains and e-


platform selling.


Luxottica’s External Threats Substitutions and counterfeits are two of Lux’s greats external threat factors. Falling prices,


growing accessibility, and advances in medical vision correction, combined with continual


progress in the comfort and corrective properties of contact lenses, make them appealing


alternatives to prescription eyewear. In addition to large volumes of counterfeits constantly


being intervened by customs, with the advent of increasing access to 3D printing devices that


can quickly replicate a pair of designer glasses, Lux. needs to be proactive in monitoring


these factors and building internal contingencies against them (54 Smart Glasses) Last, but


not least keenly observing currency exchange rates and regulatory changes in active markets


will be critical to future success.


THE FUTURE: MARKETING & PRODUCT OBJECTIVES


To counter these internal and external market forces Lux. must set expectations by


15 | P a g e


examining current and target markets and seeking to identify gaps in the market for new


products they can launch to fill these gaps.


Current Market


High end brands are currently taking over the sunglass business world. From brands such as


Prada, Bulgari, Gucci, Dita etc. who are producing a pair of glasses costing as much as $1200


a pair. Ray Ban, the classic eye wear brand, has raised their prices from roughly $30-60 a


pair to more than $200. The wealthy are buying it and Lux. understands this demand in the


market. This gives Luxottica that flexibility to charge whatever they desire. The product they


produce for their e-retail platform www.glasses.com with no brand name is the same or


fairly similar pair to the product with a brand name. Since Lux. is already ruling the world of


high class fashion eyewear releasing thousands of new styles/year they are the recognized


source for quality eyewear by many designers, for that reason they attract even more. This


continues to increases the current target markets by an even bigger concentration levels in


a segment where high prices and high demand lead to optimal profit maximization.


New Product Recommendation


We can conclude from Lux’s SWOT analysis that the company has some key opportunities


from which it can leverage its strengths and exploit opportunities to help equalize the


current external threats it faces along with organizational weaknesses. Given Lux’s


expansive distribution and retail capabilities coupled with the company’s competitive


advantage as a renowned innovator of fashionable eyewear, it logically follows they can


continue to grow their market share by launching a tech-savvy house brand that targets the


future of eyewear.


http://www.glasses.com/

16 | P a g e


The firm’s collaborative efforts with Intel to develop the next generation smart-glasses


represents the perfect opportunity for integration with one of the company’s in-house


brands. Oakley glasses are Lux’s second largest house brand with a corporate-wide share of


11% of net sales. By combining R&D for the Intel joint effort Lux. can establish the knowledge


base and business intelligence necessary to further expand the narrow and deep market hold


that Lux’s Oakley brand has in specialty glasses for sporting activities (Marketline, 2016).


Launching an Oakley sports frame with the traditional look, feel, and image of an Oakley


sunglass, but with a built-in smart-glass chip that has the capabilities to measure vitals. Such


as; heart rate, calories burned, distance traveled, the number of steps or miles covered,


revolutions per minute of a bicycle, or speed angle and velocity of a tennis or golf swing -- all


triggered through a sunglasses interface that is operated by retina interaction. Undoubtedly


this is sure to delight sports enthusiasts globally.


Target Market


Rather than athletes having to wear a watch or monitor, they can simply slip on their


sunglasses which they already wear for sporting activities. Not only will this tech


development enhance the brand's popularity it will take the product to a whole new level of


utility. Initially, the Oakley smart glass will target more competitive athletes but is expected


to be quickly adopted by mainstream hobby athletes in no time. At product introduction the


Oakley smart glasses will be set at a high price, yet competitive with Intel and Google’s


version. Targeting the middle and upper-income markets with disposable income. Signing


product endorsements with a few famous athletes at product launch will build product


notoriety. Bonus features such as current weather conditions will help target consumers


who are enthusiast about new innovations and begin Lux’s next generation product phase.


17 | P a g e


Perceptual Mapping Studies by Subcategory


Compared to competitor brands Lux’s premiere house product which represents 27% of


their net sales commands a much higher than average price point based on perceived


quality level their target consumers typically associate with Ray-Ban’s brand value


(Marketline, 2016).


18 | P a g e


WORKS CITED


"54 Smart Glasses of The Future For 2016 | The Optical Vision Site".


Theopticalvisionsite.com. N.p., 2016. Web. 22 Oct. 2016. Retrieved September


25, 2016, from https://www.youtube.com/watch?v=AHA_yZ21MJE


About FramesDirect.com | Online Retailer of Premium Eyewear. (n.d.). Retrieved October


20, 2016, from http://www.framesdirect.com/landing/a/about-us.html


"BBC Secrects Of The Superbrands Luxottica". YouTube. N.p., 2016. Web. 22 Oct. 2016.


Retrieved October 20, 2016, from


https://www.youtube.com/watch?v=AHA_yZ21MJE


Business Model | Luxottica. (n.d.). Retrieved October 21, 2016, from


http://www.luxottica.com/en/about-us/unique-approach/business-model


Global Market Insights. (2016, March). Industry Analysis - Eyewear Market Report.


Retrieved from gminsights.com: https://www.gminsights.com/industry-


analysis/eyewear-market


History | Warby Parker. (n.d.). Retrieved October 20, 2016, from


https://www.warbyparker.com/history


Luxottica Group. (2016, September 27). Investors: Company Overview. Retrieved from


www. luxottica.com: http://www.luxottica.com/en/investors/company-overview


Luxottica Profile, Home, History, Founder, Founded, CEO | Famous Eyewear Companies |


SuccessStory. (2016). Successstory.com. Retrieved 21 October 2016, from


https://successstory.com/companies/luxotticaMarketing. (2013). In R. H. Kerin,


Luxottica Files, (2013, October 10)North America: a structurally growing market.


Presentation. Retrieved 21 October 2016, from


http://www.framesdirect.com/landing/a/about-us.html

https://www.youtube.com/watch?v=AHA_yZ21MJE

http://www.luxottica.com/en/about-us/unique-approach/business-model

https://www.warbyparker.com/history

19 | P a g e


http://www.luxottica.com/sites/luxottica.com/files/2013_10_08_-


_luxottica_inv_day_presentation_-_nis_filing.pdf


Marketing The Core, 6th Ed. New York, NY: McGraw-Hill/Irwin.


Marketline. (2016, Sept 14). Luxottica Group S.p.A. Retrieved from www.marketline.com:


http://web.b.ebscohost.com.libproxy.csun.edu/ehost


Strong growth in revenue and earnings Essilor focused on ... (n.d.). Retrieved October 20, ,


2016, from


http://www.essilor.com/en/Investors/DocReports/NewsRelease_2015_Results_Ess


ilor.pdf


The Pros and Cons of Buying Glasses Online - WSJ. (n.d.). Retrieved October 20, 2016, from


http://www.wsj.com/articles/the-pros-and-cons-of-buying-glasses-online-


1445351350


http://www.wsj.com/articles/the-pros-and-cons-of-buying-glasses-online-1445351350

http://www.wsj.com/articles/the-pros-and-cons-of-buying-glasses-online-1445351350

Applied Sciences

Architecture and Design

Biology

Business & Finance

Chemistry

Computer Science

Geography

Geology

Education

Engineering

English

Environmental science

Spanish

Government

History

Human Resource Management

Information Systems

Law

Literature

Mathematics

Nursing

Physics

Political Science

Psychology

Reading

Science

Social Science

Home

Blog

Archive

Contact

google+twitterfacebook

Copyright © 2019 HomeworkMarket.com

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Top Essay Tutor
University Coursework Help
Helping Hand
Homework Guru
Writer Writer Name Offer Chat
Top Essay Tutor

ONLINE

Top Essay Tutor

I have more than 12 years of experience in managing online classes, exams, and quizzes on different websites like; Connect, McGraw-Hill, and Blackboard. I always provide a guarantee to my clients for their grades.

$40 Chat With Writer
University Coursework Help

ONLINE

University Coursework Help

Hi dear, I am ready to do your homework in a reasonable price.

$37 Chat With Writer
Helping Hand

ONLINE

Helping Hand

I am an Academic writer with 10 years of experience. As an Academic writer, my aim is to generate unique content without Plagiarism as per the client’s requirements.

$35 Chat With Writer
Homework Guru

ONLINE

Homework Guru

Hi dear, I am ready to do your homework in a reasonable price and in a timely manner.

$37 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

How to take isotonix - Role performance model of health - Such great heights apple commercial - Should doctors tell the truth collins - Heterocyclic chemistry exam questions and answers - I thank you god for most this amazing - The importance of user technology security education within organizations - Discussion week5 - Fmdq daily quotation list - Molander corporation is a distributor of a sun umbrella - Kaizen japanese bar & grill campbell ca - Investment Risk Management - Evidence Base Design - Introduction to sociology openstax citation - Year 6 maths objectives - Interdisciplinary Paper - Who packed your parachute - What is the slope of a 45 degree line - Fundamentals of Nursing - Nats fish and chips cowes - Loughborough university civil engineering - Shelton inc has sales of 17.5 million - Who is the parent company of tylenol - Vector addition experiment lab report - Mira spanish textbook answers - Ionic compound conduct electricity in molten state - Super's self concept theory of career development - Elements of building construction ppt - Fema - Credibility of consumer health digest - Concept analysis nursing examples - Are prepaid expenses quick assets - Shadow health chest pain - What is standardisation in titration - Accounting worksheets for students - Case Analysis (a) - WEBAssignment1003 - Dell embedded pc 3000 - Strategic IT plan - Assignment 2: Safety Training Manual - Hard anodized aluminum hardness - Week 5 HR - Gracelink kindergarten 2015 - Corpus callosum function while driving - Bloomberg bmc fixed income answers - How to make single phase induction motor self starting - How does distraction affect reaction time - Schizophrenia safety plan - Save smog city 2 from ozone answer key - What was albert einsteins iq - Mega loan company has very stringent - Difference between cellular respiration and fermentation - Why did kentucky fried chicken change to kfc - Answer to essay-200 words minimum (DP) - Matlab state space simulation - Nursing - Chris gardner jr net worth - Walmart global supplier management - Mission essential task list - Political Essay - Which one of the following statements is correct? assume cash flows are conventional. - Kitchen renovation project charter - Problem cause solution speech ideas - Discussion - Business Communication - Chap 4,5 - Hcs 475 problem analysis worksheet - Exiting and market - Ka and kb values table - York st john university moodle - Were is the love lyrics - History - The malaysian meteorological department - Nif on servo i - Steps to writing well with additional readings 10th edition pdf - Hr roles mind map hrm 300 - Barriers to change - Ethical issues in health professional - Accommodation near mt baw baw - Builders warranty insurance victoria - 10 page essay compare and contrast Missouri and us constitution - Microeconomics mcgraw hill connect answers - Brands that are promoted through comparative advertising are most likely to be - How to make a pill bug habitat - Greyhound racing ethical issues - In a 5-7 slide Powerpoint presentation, report on one of these agreements/countries. - In the upward sloping segment of the aggregate supply curve - 128 broadwater rd mt gravatt - What is the common name for dioxygen oxide - Case-4 - Is a wavelength a period - C3h8 o2 co h2o - Iinet net au voipsetup - Experiment a5 evidence for chemical change answer key - Business Intelligence - Reflective cover letter example - Due 9/30/2020 Annotated Bibliography on research for immobile post-surgical clients - 2x 3y 12 solve for y in terms of x - Translate the following c code to mips assembly code - Cwv topic 7 review