This problem is known and can be shortly explained within the framework of one or more lectures. But some most important facts can be discussed here.
Fact 1. You have the composite material. Which model is used to describe the mechanical behavior: homogeneous elastic medium or inhomogeneous one?
Fact 2. Usually the transversally isotropic symmetry of properties is used. In this case, five independent elastic describe the material and the Young modulus in direction of reinfircement is the main characteristic.
Fact 3. This material will be used in design of some structural members...