New Product Proposal Ash Grewal, Cody Burkhardt, Yasmin Lin, Cam Coutin, Natalia Williams

1. New Product Proposal Ash Grewal, Cody Burkhardt, Yasmin Lin, Cam Coutin, Natalia Williams

2. Table of Content

3. Brand Overview POPs: high-end eyewear, accessory, UV protection, fashion, lenses PODs: pioneer, unisex, stylish sun-protection Brand Mantra:Emotional, Descriptive, Category Positioning Statement: Ray-Ban is the only unisex high-end sunglasses brand that fuses Classic-American style with UV protection, targeting 18-25 year olds. Mental Map Perceptual Map Style Ray-Ban Chanel Functionality Oakley Generic

4. Concept 1: Ray-Ban Pro

5. Technological Social Economic Product Opportunity Gap Increased snowboarding popularity Customized products trend Increased spending on Extreme sports Go-Pro Consistently improving snowboard technology http://www.youtube.com/watch?feature=player_embedded&v=A3PDXmYoF5U

6. Product Opportunity Gap Go-Pro Ray-Ban

7. 3 Factor Model Salience Favorability Uniqueness • Based on our results, we found that the favorability was strong for the most part, only faltering where our target markets lack interest in snowboarding/skiing – Strong Moderate. • Based on our results, we found that the salience was strong in terms of its alignment with Ray Ban but weak in terms of the awareness of Go Pro --- Moderate. • Points of Difference: • Based on our results, we found that our uniqueness was our strongest aspect as almost every respondent agreed on its originality – Strong.

8. 4 Factor Model • Judgment: Modern and High-Tech vs Straying from Parent Brand • Feelings: Added sportiness = fun. • Imagery:. We reinforce the young and cool aspect of Ray-Ban with our new added culture of skier/snowboarders. • Performance: Functionality with their high quality UV Ray protectant interchangeable lenses + proven high performance of the Go Pro camera = ADDED CREDIBILITY Compelling: Reinforces or Adds CLEAR Meaning to parent brand • Relevant: If it is able to impact judgments/feelings to parent brand. Consistent: Level of fit with parent brand. • Continue reputation of high quality, stylish eye-wear Strong: Ability to change associations for parent brand . • Issue: Lack of awareness of GoPro among those surveyed. • Pro: Added associations of GoPro added to Ray-Ban brand

9. Value Opportunity Chart

10. Sales Forecasting Based on Survey + Focus Group Responses • US Industry Snapshot (2012): • Eyewear Revenue: $9.1BN • Sunglasses Share: 7.9% • Sunglasses Revenue: • $718.9M • Avg. cost of sunglasses: $165 • ~4,356,970M units sold in the US • *IBISWorld Report

11. Integrated Marketing Communication Strategy • Print advertisements • Posters advertisements and Point of Purchase placements • YouTube Channel with Videos of the week Event Marketing • Ray-Ban Pro goggles will be sold in all places that one would regularly find snowboarding goggles as well. Social Media Marketing Yielding Attention Behavior Comprehension Exposure Intentions Desired Brand Knowledge:

12. Recommendations #1 Further Research and Testing Required: 18.9% of those polled said this line was their favorite. However, 22/26 respondents said they would choose Ray-Ban over the competitor if they had to, indicating more research should be done. We recognize that out of the target market polled, few were skiiers and snowboarders—the target that would actually be using this product. Suggestions: Further research and testing required. Advantages • Stylish + unique • Added benefit of camera • Improves brand awareness breadth and depth Disadvantages • Low repeat rate • Few skiers/snowboarders polled • Glasses seen as fragile • Strong competition from Oakley and similar competitors

13. Branding Strategy + Extension Type: Ray-Ban Pro

14. Concept 2: Ray-Ban Earth

15. Technological Social Economic Product Opportunity Gap + Consumer environmental consciousness Increased spending on eco-friendly, go-green initiatives Capability to expand existing technology

16. Product Opportunity Gap Nature Conservancy Ray-Ban

17. 3 Factor Model Potential Extension Equity • 3 Factor Model: Ray Ban Earth Salience Favorability Uniqueness • Based on our results, we found the favorability of our product to be very strong; the only negative is that some respondents are not attracted to the styles. ---Strong Moderate. • Based on our results, we found the uniqueness of our extension to be fairly strong for Ray Ban as 87% would choose Ray-Ban over competitors.—Strong • Based on our results, we found that the salience was very strong as our product stayed true to the Ray Ban characteristics. ---Strong.

18. 4 Factor Model • Judgment: Survey takers “respect the fact that they are producing with recyclable material.” • Feelings: Independent, unique, making a difference Compelling: Reinforces or Adds CLEAR Meaning to parent brand • Imagery: Stylish, fashionable, eco-friendly • Performance: Benefits of Wayfarer + biodegradable. Questioned the quality of the wood • Relevant: If it is able to impact judgments/feelings to parent brand. Consistent: Level of fit with parent brand. • Fitting of the brand, but some people prefer regular Wayfarers Strong: Ability to change associations for parent brand. • “I would be more likely to buy it because it goes towards a good cause.”

19. Value Opportunity Chart

20. Sales Forecasting Based on Survey + Focus Group Responses • US Industry Snapshot (2012): • Eyewear Revenue: $9.1BN • Sunglasses Share: 7.9% • Sunglasses Revenue: • $718.9M • Avg. cost of sunglasses: $165 • ~4,356,970M units sold in the US • *IBISWorld Report

21. Integrated Marketing Communication Strategy • Interactive Website • Sweepstakes Event Marketing • Social Media + Buzz Marketing • Point of Purchase set ups in sunglass stores. • Print Advertisements Yielding Attention Behavior Comprehension Exposure Intentions Desired Brand Knowledge:

22. Recommendations #2 Continue with Development: 59.4% of those polled said this line was their favorite, and they would be likely to buy it. Competitors unknown for the most part Suggestions: Craftsmanship + change “blood wood” Advantages • Adds social responsibility and positive impact associations • Twist on new style • Legitimate partnership Disadvantages • Limited offering • Cannibalization

23. Branding Strategy + Extension Type: Ray-Ban Earth

24. Concept 3: Ray-Ban Icons

25. Technological Social Economic Product Opportunity Gap “Cult of Celebrity” Increased spending on apparel by college students Costly nature of designing, producing, and marketing own lines for celebrities Ray Ban Sunglasses Technology

26. Product Opportunity Gap Music Celebs Ray-Ban

27. 3 Factor Model Potential Extension Equity • 3 Factor Model: Ray Ban Icons Salience Favorability Uniqueness • Based on our results we found that our favorability was split with some respondents really excited about the idea and others turned off by it. --- Weak Moderate. • Points of Difference: • Based on our results, we found that our uniqueness was not that high, some liked the variety of choices, but many just thought the idea was already on the market – Weak Moderate. • Based on our results, we found that our salience was fairly strong, most of our respondents agreed that they would see Ray Ban go through with this product. --- Strong Moderate.

28. 4 Factor Model Judgment: Messy + high quality + reliable. Less superiority. Feelings: Outdated and not youthful. Low fun. Sell out. Compelling: Reinforces or Adds CLEAR Meaning to parent brand Imagery: Celebrities conflicts with classic. Messy + stereotypes? Performance: 75% of the market research said if they had to choose another brand over Ray-Ban for one of the styles offered they would choose what they considered the competitor style. Lacking performance • Relevant: If it is able to impact judgments/feelings to parent brand. Consistent: Level of fit with parent brand. Inconsistent Negative: Ability to change associations for parent brand. There is no indication from those polled indicating this would improve the brand.

29. Value Opportunity Chart

30. Sales Forecasting • US Industry Snapshot (2012): • Eyewear Revenue: $9.1BN • Sunglasses Share: 7.9% • Sunglasses Revenue: • $718.9M • Avg. cost of sunglasses: $165 • ~4,356,970M units sold in the US • *IBISWorld Report

31. Integrated Marketing Communication Strategy Our celebrity endorsements will also carry our product to fashion+music blogs and gossip magazines . PR representatives will monitor the press. • User generated content competition • Print Ads: • Sponsored Music Festival • Incorporation into website • In store purchase points Yielding Attention Behavior Comprehension Exposure Intentions Desired Brand Knowledge:

32. Recommendations #3 Do Not Continue With This Line: Least favorite Not likely to buy Not fitting with brand Suggestion: Discontinue Disadvantages • Celebrities have their own lines • Never relied on celeb designs in past • Selling Out Association • Not reflective of genre Advantages • Added target market • Added variety of styles

33. Branding Strategy + Extension Type: Ray-Ban Icons