Chapter 1: Basic Concepts of Strategic Management (Warby Parker)
1. Describe the strategic approach pursued by Warby Parker in selling eyewear.
Warby Parker has created their business due to the real need of lower income people and students to obtain a high quality eyewear, therefore they have chosen an innovative way to sell their product direct to customers online with lower price. Warby Parker’s strategy is to eliminate other parties’ involvement which leads to additional costs and unnecessarily expenses.
2. Who is the target market for Warby Parker and how do they reach this market?
Warby Parker has two segments of target market, for future they aim to hunt everyone wear glasses. But currently they focus on young generations who would …show more content…
What is the vision of Warby Parker?
Warby Parkers vision was to bypass this huge companies and provide high quality products with reasonable prices to their consumers.
2. What is the organization Vision Spring and how does it relate to Warby Parker?
Vision Spring is a non-profit organization that trains people in developing countries to give basic eye tests and sell glasses to their communities at reasonable prices.
Warby Parker’s Co-founder Neil was an ex-employee of Vision Spring. The relation between Warby Parker and Vision Spring is that they both support the same principle, to help people and make a difference in world. They have associated a partnership for a very noble cost, they aim to help people by creating jobs, providing them with tools to learn and work. 3. Explain the “buy a pair, give a pair” program. What role does this program play in the overall mission of Warby Parker?
“Buy a pair, give a pair” is simply a way to donate a pair of glasses when a customer purchases one. The concept that lies behind this program is bigger than just a donation.
Donating is unsustainable solution which will not last forever. Instead the idea of the program is to train men and women to sell glasses for ultra-less prices, which allows them to earn their living and be …show more content…
Which of the business models discussed in your text do you think best fits iRobot’s approach to product development? iRobots have a creator business model where they manufacture goods to be sold, this is the method they use to earn profit or make money. The company uses diversification strategy in their robot production; in order to engage in the development of products that can be used in the real world to satisfy customers’ needs as a result this model gains them competitive advantage in the market and increases their sales volume.
2. Who is iRobot’s target market? How does this impact their product development?
IRobot’s main target customers who are interested in technology and are comfortable with it and also those who desire a very clean home.
IRobot sought to involve in robots development to help people to come in robotic market.
They took the practical real world to design their products, which met customer’s real need. The impact of developed product led them to sell over 6 million robots over the years. This granted them competitive advantage label over their competitors and gained customers trust that they shared their feedback and asked for developing robots to better
1. Describe the strategic approach pursued by Warby Parker in selling eyewear.
Warby Parker has created their business due to the real need of lower income people and students to obtain a high quality eyewear, therefore they have chosen an innovative way to sell their product direct to customers online with lower price. Warby Parker’s strategy is to eliminate other parties’ involvement which leads to additional costs and unnecessarily expenses.
2. Who is the target market for Warby Parker and how do they reach this market?
Warby Parker has two segments of target market, for future they aim to hunt everyone wear glasses. But currently they focus on young generations who would …show more content…
What is the vision of Warby Parker?
Warby Parkers vision was to bypass this huge companies and provide high quality products with reasonable prices to their consumers.
2. What is the organization Vision Spring and how does it relate to Warby Parker?
Vision Spring is a non-profit organization that trains people in developing countries to give basic eye tests and sell glasses to their communities at reasonable prices.
Warby Parker’s Co-founder Neil was an ex-employee of Vision Spring. The relation between Warby Parker and Vision Spring is that they both support the same principle, to help people and make a difference in world. They have associated a partnership for a very noble cost, they aim to help people by creating jobs, providing them with tools to learn and work. 3. Explain the “buy a pair, give a pair” program. What role does this program play in the overall mission of Warby Parker?
“Buy a pair, give a pair” is simply a way to donate a pair of glasses when a customer purchases one. The concept that lies behind this program is bigger than just a donation.
Donating is unsustainable solution which will not last forever. Instead the idea of the program is to train men and women to sell glasses for ultra-less prices, which allows them to earn their living and be …show more content…
Which of the business models discussed in your text do you think best fits iRobot’s approach to product development? iRobots have a creator business model where they manufacture goods to be sold, this is the method they use to earn profit or make money. The company uses diversification strategy in their robot production; in order to engage in the development of products that can be used in the real world to satisfy customers’ needs as a result this model gains them competitive advantage in the market and increases their sales volume.
2. Who is iRobot’s target market? How does this impact their product development?
IRobot’s main target customers who are interested in technology and are comfortable with it and also those who desire a very clean home.
IRobot sought to involve in robots development to help people to come in robotic market.
They took the practical real world to design their products, which met customer’s real need. The impact of developed product led them to sell over 6 million robots over the years. This granted them competitive advantage label over their competitors and gained customers trust that they shared their feedback and asked for developing robots to better