Marketing Mix of Lenskart and 7Ps (Updated 2024)

The Marketing mix of Lenskart analyses the 7Ps of Lenskart, which includes the Product, Price, Place, Promotion, People, Physical Evidence, and Process of Lenskart. Lenskart.com is a private company of Indian origin. It was founded in 2010 by its co-founders, Sumeet Kapahi, Amit Chaudhary, and Peyush Bansal. It is associated with the e-commerce and accessories industry and deals in supplying eyewear. In March 2016, with a one-year warranty, it was reported by NDTV that two lakh visitors visited Lenskart.com every day, and it shipped nearly 800-900 glasses daily. Some of its competitors are as follows-

• Lens Bazaar
• GKB Opticals
• Deals4opticals

About Lenskart.Com

• Type: Multinational optical prescription eyewear retail chain in India
• Industry: Retail
• Founded: 2010
• Founders: Peyush Bansal, Amit Chaudhary, Sumeet Kapahi
• Headquarters: Lenskart HQ, Gurugram, Haryana, India
• Area served: India and Southeast Asia
• Current CEO: Peyush Bansal
• Number of employees: 6,000+
• Major products: Prescription eyeglasses, sunglasses, contact lenses, and eye care products.

Lenskart Product Strategy

Lenskart.com is the only eyewear brand in India that uses robotic technology to develop and deliver accurate glasses 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 their geometric center.

Lenskart, a prominent eyewear retail chain, offers diverse brands of products catering to different eyewear needs.

The product mix of Lenskart in 2024 is as follows (Source).

1. Prescription Eyeglasses: Lenskart provides a wide variety of frames for prescription glasses. These frames come in different shapes, sizes, colors, and materials to suit various tastes and requirements. They also offer a range of lenses, including single vision, bifocal, and progressive lenses, with anti-glare, UV protection, and scratch-resistant coatings.
2. Sunglasses: The brand offers various sunglasses, from classic styles to the latest fashion trends. These include multiple types of lenses, such as polarized, mirrored, and UV-protected sunglasses. They cater to both fashion and functional needs.
3. Contact Lenses: Lenskart sells contact lenses from various well-known brands. They provide options for daily wear, monthly disposable, colored contacts, and toric lenses for astigmatism.
4. Kids Eyewear: Understanding the growing need for eyewear, Lenskart has a unique range of eyeglasses and sunglasses explicitly designed for children. These are made from durable materials and are designed to be comfortable and stylish for young wearers.
5. Accessories: In addition to eyewear, Lenskart also offers accessories related to eyewear maintenance and care, such as lens cleaning solutions, eyewear cases, and microfiber cleaning cloths.
6. Home Eye Check-Up Services: Lenskart offers services like home eye check-ups and trials for eyeglasses, where customers can select frames online and try them at home before purchasing.
7. Smart Eyewear: Recently, Lenskart has ventured into the realm of intelligent eyewear, offering products that integrate technology with traditional eyewear, like glasses with audio capabilities.

Lenskart’s product mix is a blend of fashion, function, and innovation to provide a comprehensive eyewear solution for its customers. They frequently update their collections to keep up with the latest style trends and technological advancements in the eyewear market.

Lenskart Pricing Strategy

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 a direct supply chain to cut production costs. It believes in customer satisfaction by providing innovative technologies and stylish, trendy products. Hence, Lenskart.com offers products in three price segments, luxury, value, and premium, to meet the demands of every section of society. It has adopted a value-based pricing policy and offers the best possible products at reasonable rates.

Lenskart employs a multifaceted pricing and distribution strategy that aligns with its brand positioning as an affordable yet quality eyewear provider, catering to a broad customer base. Here’s an overview of its distribution strategies and pricing strategy:

1. Value-Based Pricing: Central to Lenskart’s pricing strategy is offering value for money. They price products by considering the perceived value to the customer, balancing quality and affordability. This approach attracts a broad spectrum of customers, from budget-conscious to premium shoppers.
2. Competitive Pricing: Lenskart positions its prices in line with, or slightly lower than, its competitors. This ensures they remain an attractive option for customers comparing similar products across different brands, fostering a competitive edge in the market.
3. Tiered Pricing Structure: The company implements a tiered pricing model, offering products at various price points. This ranges from economically priced essential eyewear to more expensive, premium options. Such stratification caters to diverse customer segments and their varying willingness to pay.
4. Promotional and Seasonal Discounts: Lenskart frequently employs promotional pricing strategies, including discounts, seasonal offers, and loyalty programs. These initiatives drive sales and encourage repeat purchases and customer loyalty.
5. Dynamic Online Pricing: With its strong online presence, Lenskart leverages dynamic pricing on its e-commerce platform. Prices may vary based on demand, inventory levels, and ongoing promotions, allowing them to optimize sales and profitability in real-time.

In summary, Lenskart’s pricing and marketing strategy is designed to deliver value, foster competitiveness, appeal to diverse customer segments, and adapt to market dynamics. This approach supports their aim to be a leading eyewear solutions provider while maintaining accessibility and affordability for their customers.

Lenskart Place Strategy

Lenskart.com has a Pan-India presence with its headquarters base in New Delhi. It has adopted a hybrid business model for its company, including selling its products via retail stores and online stores. The first franchise outlet of Lenskart.com was opened in 2014 in Chandigarh; 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 in Greater Noida. Lenskart.com has opened its official website to display and market its products to its customers with the help of a single click of the mouse. It has a strong distribution channel includes a workforce of nearly one thousand capable and trained employees to offer the best possible services.

Here’s Lenskart Place Strategy.

1. Extensive Online Presence: Lenskart has a robust online platform, offering a comprehensive e-commerce experience online portal where customers can browse, virtually try on, and purchase eyewear. This digital approach significantly expands their reach beyond geographical limitations.
2. Physical Retail Stores: Lenskart operates numerous physical stores across various cities in India, providing customers with the opportunity to experience products firsthand, get eye tests, and receive personalized assistance.
3. Franchise Model: The company employs a franchise model for expanding its physical presence. This distribution strategy allows rapid expansion across different regions while maintaining quality and brand consistency.
4. Home Eye Check-Up Services: Lenskart offers unique services like home eye check-ups in selected areas. This strategy enhances customer convenience and widens their market reach to those who cannot visit stores.
5. International Expansion: In recent years, Lenskart has expanded internationally, establishing a presence in markets like Singapore. This move marks their transition from a national to a global brand, aiming to capture a broader customer base.

Lenskart Promotion Strategy

Lenskart.com is a young, contemporary company with a modern and new business outlook. It has adopted several product-related schemes as promotional plans. In December 2013, it introduced a new service concept for its customers by offering a check-up program from either home or office to save time.

A client has to book in advance for an appointment, and the company Optometrist will make a visit carrying at least one hundred frames for a free trial. The customer can also choose five frames from its website, and the company will send someone for one free frame for a trial.

Lenskart.com offers several incentives to its customers, like the first frame being free and a client having to pay the price of glasses or lenses. Other promotional schemes include a PAYTM voucher and purchasing two premium glasses at rupees 2500. Lenskart.com has launched several email-based marketing, sales, and marketing campaigns online. Its ads are also shown on Television, in newspapers, magazines, and billboards.

This ad by Lenskart, shown on Television, was a fantastic campaign and was loved by everyone.

Lenskart’s Promotion Strategy is done as follows:

1. Digital Marketing and Social Media Campaigns: Lenskart heavily invests in online marketing, leveraging social media platforms and digital advertisements to reach a broad audience and engage with customers through targeted campaigns.
2. Celebrity Endorsements and Collaborations: The brand frequently collaborates with celebrities and influencers, utilizing their reach and influence to enhance brand visibility and appeal to a younger, trend-conscious demographic.
3. Customer Engagement Programs: Lenskart runs various customer engagement programs such as referral bonuses, loyalty rewards, and personalized email marketing, fostering customer loyalty and encouraging repeat business.

Some Recent Video ads and Print ads of Lenskart are:

Lenskart People Strategy

When discussing the “People” aspect of the service marketing strategy and marketing mix-up for Lenskart, you’re focusing on the customer-facing employees, their skills, attitudes, and the overall service culture of the company. This element is critical in service businesses where customer satisfaction heavily depends on the quality of personal interactions. Here are key points to consider for Lenskart:

1. Skilled Workforce: Lenskart invests in training its staff to ensure they have the necessary technical knowledge about eye care and the products offered. This includes optometrists, customer service representatives, and sales staff trained to provide informative and helpful customer service.
2. Customer Service Excellence: The company emphasizes excellent customer service as a cornerstone of its brand identity. Employees are trained to handle queries, complaints, and feedback patiently and efficiently, ensuring a positive customer experience.
3. Technological Integration: Staff at Lenskart are equipped with technology to enhance customer interactions. This includes the use of advanced eye testing equipment for optometrists and a robust online platform for customer service representatives to manage appointments, orders, and customer queries seamlessly.
4. Personalized Service: Employees are encouraged to offer customized services, such as helping customers select the proper frames according to their face shape, lifestyle, and preferences. This personalized approach helps in building customer loyalty and satisfaction.
5. Inclusive and Diverse Team: Lenskart aims to maintain an inclusive work environment where diversity is valued. This is reflected in its hiring practices, ensuring a wide range of perspectives that enrich the customer service experience.
6. Employee Satisfaction and Motivation: Recognizing the importance of motivated employees to customer satisfaction, Lenskart invests in employee welfare programs, career development opportunities, and competitive compensation packages to retain and motivate its workforce.
7. Feedback Mechanism: The company has a structured feedback mechanism where employees can share insights from customer interactions and suggest improvements. This helps Lenskart continuously enhance service quality and innovate innovative customer service strategies.
8. Brand Ambassadors: Employees are considered brand ambassadors of Lenskart. Their interactions with customers, both in-store and online, play a significant role in shaping the brand’s image and customer perceptions.
9. Safety and Hygiene Protocols: Especially relevant in the post-pandemic era, Lenskart ensures its staff follow strict safety and hygiene protocols to protect employees and customers, reinforcing the brand’s commitment to health and safety.

Lenskart Process Strategy

The “Process” element of Lenskart’s service marketing mix refers to the systems and procedures that the company employs to deliver its services efficiently and effectively to customers. This aspect is crucial in ensuring customer satisfaction, reducing waiting times, and providing a seamless shopping experience, both online and offline. Here are key points to consider for the Process aspect of lenskart’s marketing mix and strategy:

1. Online Appointment Booking: Lenskart allows customers to book eye tests and store visits through its website and mobile app, ensuring a convenient and time-saving process for busy customers.
2. Home Eye Test Service: A unique feature of Lenskart’s service process is the home eye test conducted by professional optometrists. This service includes doorstep delivery of trial frames, making it convenient for customers to choose frames from the comfort of their homes.
3. Virtual Try-On Technology: Lenskart employs advanced augmented reality technology that lets customers virtually try different eyewear options through its app or website. This innovative process aids in decision-making without the need for physical trials.
4. Streamlined Manufacturing and Delivery Process: Lenskart has optimized its supply chain to ensure quick turnaround times from order placement to delivery. This includes in-house manufacturing and robust logistics partnerships for timely delivery across various locations.
5. Easy Navigation and User-Friendly Website/App Design: The Lenskart website and app are designed for easy navigation, allowing customers to find products, access services, and check out with minimal hassle. This includes detailed product descriptions, customer reviews, and FAQs.
6. Efficient Customer Service: Lenskart has established a responsive customer service process that includes multiple communication channels, such as email, phone, and chat support, to address customer queries and issues promptly.
7. Hassle-Free Returns and Exchanges: The company offers a straightforward process for returns and exchanges, enhancing customer satisfaction by ensuring that concerns are addressed and resolved quickly.
8. Feedback and Continuous Improvement: Lenskart solicits customer feedback through surveys and direct communication channels. This feedback is used to refine and improve service processes continually.
9. Training and Development: The company invests in regular training and development programs for its staff to keep them updated on the latest technologies and customer service practices, ensuring a high-quality service delivery process.
10. Omni-Channel Experience: Lenskart provides a seamless omni-channel shopping experience, allowing customers to switch effortlessly between online and offline channels. This includes checking store inventory online, ordering online with in-store pickup, and accessing after-sales service across any channel.
11. Quality Assurance: Every pair of eyeglasses undergo a rigorous quality check before being dispatched. This ensures that customers receive products that meet high quality and durability standards.

Lenskart Physical Evidence Strategy

The “Physical Evidence” component of Lenskart’s service marketing strategy mix encompasses the tangible and intangible elements that customers experience, which help to make the service more tangible. This includes the physical environment of the stores, the online platform, and other materials that contribute to the overall customer experience. Here are key points to consider for the Physical Evidence aspect of the Lenskart marketing strategy mix:

1. Brick-and-Mortar Stores: Lenskart’s physical stores are designed to be modern, welcoming, and well-organized, creating a positive shopping environment. These stores are equipped with the latest eye-testing technology and display a wide range of eyewear products, allowing customers to browse and try on glasses in a comfortable setting.
2. Store Layout and Design: The layout and interior design of Lenskart stores are carefully planned to ensure a pleasant shopping experience. This includes clear signage, clean and bright interiors, and strategically placed mirrors for customers trying on eyewear.
3. Online Platform Appearance: The Lenskart website and mobile app are significant physical evidence of the brand. They feature a clean, user-friendly interface, high-quality product images, and augmented reality (AR) features for virtual try-ons, contributing to a positive online shopping experience.
4. Packaging: Lenskart pays attention to the packaging of its products, which is both functional and aesthetically pleasing. The eyewear comes in sturdy, branded cases and cleaning cloths, ensuring products are delivered perfectly and enhancing the unboxing experience.
5. Branding Materials: The company uses consistent branding across its physical and digital materials, including store signage, packaging, promotional materials, and online visuals. This consistency helps in reinforcing the brand identity and trust.
6. Eyewear and Accessories Display: The presentation of eyewear and accessories in-store and online is carefully curated to facilitate easy browsing and selection. Products are categorized and displayed to highlight new arrivals, bestsellers, and specific collections, aiding in customer decision-making.
7. In-Store Experience Enhancements: Some Lenskart stores offer additional amenities such as waiting areas, refreshments, and interactive displays, enhancing the customer experience and encouraging extended visits.
8. Uniforms of Staff: The professional attire of Lenskart staff acts as physical evidence of the brand’s commitment to professionalism and quality service. Uniforms contribute to the brand’s image and help customers quickly identify staff members for assistance.
9. After-Sales Service Communication: The tangible aspects of after-sales service, such as warranty cards, service reminders, and satisfaction surveys, contribute to the perception of Lenskart’s commitment to customer satisfaction.
10. Marketing Collaterals: Brochures, business cards, and promotional giveaways bearing the Lenskart logo and design theme are physical evidence of the brand’s marketing efforts and help create a tangible connection with the brand.
11. Customer Reviews and Testimonials: Displayed in-store and online, these provide social proof and build trust among potential customers. They serve as indirect physical evidence of the quality of service and customer satisfaction.

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