Contact Lens: Study on the Consumer Buying Behavior

Topics: Contact lens, Bausch & Lomb, Contact lenses Pages: 10 (2988 words) Published: November 22, 2011
Submitted By,
Arun Ravindran
PGP 14/138
Section A

Contact Lens: Study on the Consumer Buying Behavior

Executive Summary3
Importance to business and marketing3
Types of contact lenses4
Comparison with Spectacles and Lasik5
Research Methodology5
Insights from Secondary Research6
Insights from Interview and Survey6
Hierarchy of Effects: ABC model7
Consumer Involvement: High Involvement/Emotional7
Looking Glass self7
Intentional learning7
Expectancy value model8
The trio of needs8
Appendix 19

Executive Summary
Contact lenses have come a long way from an uncomfortable hard to use glass made lens to more comfortable easy to use soft lenses and increasingly becoming a fashion statement. In this growing market, it becomes imperative for the marketers to understand what prompts a user to switch from using spectacles to contact lenses which costs more and has to be maintained well. It also becomes important to understand the general preference of the contact lens users for a particular type of contact lens and the reasoning behind that. The research point out the need for affiliation is the major motivator for going for contact lens followed by the basic need of clear vision which was mostly found in respondents who were using high power lens. The major influencers who were played critical role in the decision making were found to be the doctors and friends who were already using contact lenses. Users preferred to use the type of contact lenses which were safe, easy to maintain and doesn’t require too much of care. Objective

To identify and understand the factors that influence the decision making process of purchase of a contact lens and the selection of a particular type of contact lens Importance to business and marketing

Over the past decade, the usage of contact lens has increased tremendously. The worldwide market is stated to increase by 100% in year 2015, to reach the figure $12 billion, from that of 2010. The market according to Johnson & Johnson, a prominent player in contact lens industry, will grow by a net CAGR of 20%. Leading Brands are trying to bring out new improved products to capture this market. The Indian contact lens market recorded Rs. 2 billion in sales in 2007, growing at 30 per cent - a healthy rate compared to less developed markets around the world. However, the market penetration of contact lens remains extremely low (just 5%) in India, compared to Singapore (22%), Hong Kong (25%) and USA (30%). So this again shows that there is huge potential which is still untapped. In business context, contact lens industry has two main competitors – spectacles and lasik industry. Both of these are very huge industry in some ways threatening the contact lens industry. It is important for the companies to understand the consumer behavior associated with the use and selection of a contact lens so that they can continuously innovate and bring up improved products with appropriate positioning strategy. So for marketers it is becoming more challenging than ever before to sustain the interest in contact lens. Which means they have to come up campaigns/promotional strategies which would have a good impact on the potential customers. It could either take on aspirations of people to have a clearer vision and freedom from boring spectacles or on the anxiety of getting social acceptance by getting rid of spectacles. Marketers have to carefully evaluate before making the decision.

It is believed that the first concept of contact lens was thought long back in the year 1508 by Leonardo da Vinci. But the first commercial contact lens was made in 1887 using glass and it covered the whole eye. There has been significant growth in technology in the last 5 – 6 decades and now even contact lenses which could be permanently worn or worn...
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