Vera Bradley Case Study Marketing

Currently, Vera Bradley’s strategic plan focuses on three key areas: product, distribution channels and marketing. Vera Bradley’s major product offering categories are handbags, a wide variety of accessories and travel items. The plan for the product strategy places an emphasis on improving the assortment of the offerings by concentrating on its core designs, without creating an overly broad line. Also, they wanted to create new-targeted product lines, such as catering to professional women. Vera Bradley’s distribution plan was to utilize a tightly integrated multichannel distribution channel. They planned to use department stores, specialty retailers, full-line stores, factory outlet stores and e- commerce, with a steady expansion in these areas. The marketing objective was to get customers excited about the brand, as well as make it an …show more content…
That is looking at their competitors and what they are developing before their own company takes on new ideas. A wise strategic plan is to see what others within your market are doing wrong before making the same mistake. Seeing as though Vera Bradley is not the leader in this market, it would be a wise decision to view the downfalls experienced by its competitors. It appears that Coach and Michael Kors are two successful brands with the strategies that they have developed, so a smart ideas would be to take their plans and make them better. This industry sets companies apart by who does it better and who is making the best moves. Marketing is a huge plus in this area, whether it is using celebrities or supporting a movement to promote your brand. I believe that Vera Bradley should consider starting a campaign to promote women in entrepreneurship; it would work perfectly with starting the career targeted product line. In order to be successful, you must have a strategic plan that works, and continuing to use the same strategy after it has failed is not going to be