Warby Parker Factors Accountable for Success - 1935 Words

Factors Accountable for Notable Success: WP had great success very early on; this was due to a variety of factors. One of the main factors that lead to their great success was their low price point. They are much lower when compared to the rest of the market; they offer high quality glasses for only $95. They do this by using nontraditional distribution channels and they engage with their customers directly through their website, which allows them to have limited operating costs. They also offer their customers free shipping and returns as well as a virtual and in home try-on services. It was this amazing customer service that helped increase the customer experience and allowed them to grow their brand quickly. Another factor that led†¦show more content†¦Internal Environment: Strengths and Weaknesses WP has been a very successful company thus far and they owe a lot of that to the strengths that their business encompasses. A major strength is the way that WP operates online. With their presence mostly online there is a great business model that includes being vertically integrated and lets WP have a lot of control over their product and image due to there being no store fronts. This business model also has its weaknesses though. It does not allow for the customer to get the actual feel for the product or try it on in person. These limitations also lead to a high return rate and high level of dissatisfaction, which increases the overhead costs significantly. WP tried to eliminate this dissatisfaction through their try-on service, but this in itself is a large weakness due to the high costs and large amount of inventory needed. WP is beginning to realize the limitations that arise from being a company that is selling solely online. This is not only a limitation on trial and higher levels of dissatisfaction, but the customer is unable to get their eyes checked and get a prescription online through a computer. This means they have to go to a doctor or find a boutique that carries WPs glasses. Also, they do not provide glasses for people with more severe problems such as astigmatism. This is because they are trying to keep their costShow MoreRelatedNotes On Leadership And Management2297 Words   |  10 PagesManagement 1) Leadership tasks- †¢ Adopt a Vision: create or adopt a compelling vision that clearly describes the expectations of the team members. †¢ Motivate: inspire aligned individual and group goals by being the role model and by holding people accountable †¢ Manage: plan and set priorities and organize resources to achieve business outcomes and direct and monitor performance †¢ Foster teamwork: develop and sustain effective working relationships, create an environment that fosters teamwork †¢ DevelopRead MoreMarketing and E-commerce Business65852 Words   |  264 Pagesnetworks such as Facebook, Twitter, Pinterest, and LinkedIn continue their rapid growth, laying the groundwork for a social network marketing platform  »Ã‚ » The mobile platform composed of smartphones and tablet computers takes off and becomes a major factor in search, marketing, payment, retailing and services, and online content. Mobile device use poses new security and privacy issues as well.  »Ã‚ » Location-based services lead to explosive growth in local advertising and marketing. †¢ Online privacy