Marketing Mix of Lenskart

DIGITAL MARKETING ASSIGNMENT
NAME : NIDHI RAJPAL

CLASS : B.COM(H) A
ROLL NO : 191080
MARKETING MIX OF
LENSKART
ABOUT THE COMPANY

Lenskart.com is a private company of Indian origin. It was founded in the year 2010
by its co-founders Sumeet Kapahi, Amit Chaudhary and Peyush Bansal. It is
associated with e-commerce and accessories industry and deals in supplying eyewear.
The company’s portfolio of products range from prescription glasses, contact lenses to
sunglasses. With a rapidly growing business reaching out to over 1,00,000 customers
a month via a unique combination of a strong online business as www.lenskart.com,
uniquely designed physical stores, as well as a first of its kind 'home eye check up'
service, Lenskart is revolutionizing the eyewear industry in India. Lenskart offers over
5000 frames & glasses and more than 45 kinds of high quality lenses. They follow an
inventory-led business model with equal sourcing done from India & China. Their in-
house team of stylists and designers keep a tab on latest trends in eyewear. These
designs are then passed on to the manufacturers. There are 3 success factors in this
industry viz., quality of product & product portfolio, delivery time & after sales
service. Their value proposition is simple — provide high quality product at affordable
prices.
VISION AND MISSION OF LENSKART

 VISION :- Revolutionize the eyewear industry in India
Lenskart's aim is to help drop this number marginally in the coming years, which
can be achieved by providing high quality eyewear to millions of Indians at
affordable prices, giving free eye check ups at home and by extending our services
to the remote corners of India.
 MISSION :-
Wow customers by doing something that has never been done before in the
eyewear industry. It began with an aim. An aim to provide every Indian
access to high-quality designer glasses without shelling out their pocket.
Lenskart Marketing Mix
(7Ps) Strategy
Marketing Mix of Lenskart analyses the brand/company which covers 7Ps (Product,
Price, Place, Promotion, People, Process, Physical Evidence) and explains the
Lenskart marketing strategy. As of 2020, there are several marketing strategies like
product/service innovation, marketing investment, customer experience etc. which
have helped the brand grow.
Marketing strategy helps companies achieve business goals & objectives, and
marketing mix (7Ps) is the widely used framework to define the strategies. This article
elaborates the product, pricing, advertising & distribution strategies used by Lenskart.
Let us start the Lenskart Marketing Mix & Strategy:
 PRODUCT - Lenskart.com is the only eyewear brand in India that uses the

robotic technique for delivering glasses accurate up to three decimal places. It
has imported special machines from Germany to ensure perfection by using an
automated system for inspecting and loading lenses and determining its
geometric centre. It offers nearly five thousand products for kids, men and
women and its portfolio includes-
o Eyeglasses in brands like Vogue, Carrera, Fossil, Ray-Ban, Vincent Chase and Tag Huer.
These are available in styles like half-rim, full-rim and bifocal and shapes like aviator,
rounder and rectangle
o Sunglasses are available in the latest collection including nightwear, retro, polarised, power,
premium and sports and in brands like Fastrack, Ray-Ban, Vincent Chase, IDEE, Tom Ford,
Oakley and Mask.
o Premium Glasses offers superior performance because they are made with help of TR-90
materials that are ultra light and corrosion free
o Contact lenses of different brands with several lens types like daily disposable, monthly
disposable and yearly disposable
o Power Glasses in different shapes and size like aviator, rounder’s, oval and wayfarer
o Accessories like lens cleaner spray solution, contact lens cases, screwdriver, cleaning wipes,
eyewear cases and eyewear stand.
 PLACE - Lenskart.com has a Pan-India presence with its headquarters base at
New Delhi. It has adopted a hybrid business model for its company that includes
selling of its products via retail stores and online stores. First franchise outlet of
Lenskart.com was opened in the year 2014 at Chandigarh and since then it has
opened nearly two hundred and fifty stores in cities, towns and metros like
Mumbai, Delhi, Kolkata, Shimoga, Rourkela, Patna, Bangalore and Chandigarh.
It has a manufacturing facility at Okhla in Delhi and another at Greater Noida.
Lenskart.com has opened its official website to display and market its products
to its customers with help of a single click of the mouse. It has a
strong distribution channel that includes a workforce of nearly one thousand
capable and trained employees to offer best possible services.
 PRICE - Lenskart.com has grown at an astounding rate of 150% in just one year
and its gross merchandise value is estimated at rupees 300 crores. It wanted to
reach as many customers as possible by offering them products at affordable
rates. Hence Lenskart.com set up the direct supply chain to cut production costs.
It believes in customer satisfaction by offering innovative technologies and
stylish and trendy products. Hence Lenskart.com offers products in three price
segments luxury, value and premium to meet demands of every section of
society. It has adopted value-based pricing policy and offers best possible
products at reasonable rates.
 PROMOTION - The promotional and advertising strategy in the Lenskart
marketing strategy is as follows:
To keep the brand alive in the minds of the consumer, Lenskart extensively
promotes itself through Social media and offers 24x7 helpline service to meet
the best customer service requirements. Lenskart also engages in email
marketing like the initiative that they took up in collaboration with netCore
which specialises in email based marketing. They have a range of schemes
which make them extremely popular with the users. Some of them are:
o First frame free for the customers. Only payment for lenses of the first
frame
o Exchange option for an old frame
o Try at home option for customers by ordering maximum 5 frames at home,
trying them and selecting
o Virtual try on through a try on a model’s picture
o Home eye check-up facility
o Doctor locator to find nearest ophthalmologist.
o TV commercials and print ads have also helped Lenskart grow.
Since this is a service marketing brand, here are the other three Ps to
make it the 7Ps marketing mix of Lenskart.
 PEOPLE - Since Lenskart is a new company, based on an entrepreneurial work

style; the employees are young and high spirited. The team is driven everyday to
first bring value to its employees and then its customers. The employees are
treated as the biggest assets of the company. Experiential learning is given
importance by inculcating a learning culture through certification courses and
training facilities.
 PROCESS - The Lenskart brand provides access to sophisticated technology

that uses the robotic technique to deliver micro-precision glasses with errors
correct up to 0.00 degree. They import machines from a US based company
called Welch Allyn, which produces sophisticated machines which have the
capability to detect flaws in eyesight of a three-month baby as well.
 PHYSICAL EVIDENCE - Lenskart manifests itself as brand with high recall

that has online stores as well as offline stores. The logo is identifiable with
customers of the young generation. With Purab Kohli as the brand ambassador,
they launched several advertisement campaigns in an attempt to tap on the
young market looking for trendy eye wear. Hence this concludes the Lenskart
marketing mix.

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DIGITAL MARKETING ASSIGNMENT

NAME : NIDHI RAJPAL

ABOUT THE COMPANY

VISION AND MISSION OF LENSKART

 PRODUCT - Lenskart.com is the only eyewear brand in India that uses the

 PEOPLE - Since Lenskart is a new company, based on an entrepreneurial work

 PROCESS - The Lenskart brand provides access to sophisticated technology

 PHYSICAL EVIDENCE - Lenskart manifests itself as brand with high recall

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