Proposal Assignment

Proposal Assignment

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Institute name

Proposal Assignment

Home Try-On: Doing online shopping even better than in-store

Company background

Warby Parker is the renowned brand in eyewear that offers a variety of designs at revolutionary prices. The company is the market leader for its socially conscious business practices. According to business experts, every idea starts with a problem. The company was founded with a rebellious spirit. The eyewear industry was dominated by one brand which was charging higher prices and reaping greater profits from the customers due to its monopoly. They didn't concern about the needs of their customers. So some of the friends who had the issues with that brand has found a brand with the name of Warby Parker. Their purpose was to provide an alternative to the users of eyewear. It has traditional channels it designed glasses in-house and communicating with its customers directly using its online sources. The company aims to provide the highest quality eyewear with attractive designs and reasonable prices. The company has the best refund and return policy which provides a more significant deal to the customers. The core value of the company is to provide best quality products with user-friendly policy. The company provides a one-year warranty for the scratches and other faults. The company believes that purchasing glasses should be a fun and easy process. Eyewear should keep the users happy and good looking with sufficient. Warby Parker believes that it is the right of every person to see. For this purpose, the company is working in collaboration with a non-profit firm such as Vision Spring to address this problem and ensure the provision of a pair of glasses to everyone (History | Warby Parker, (2019).

Background of the problem

According to the customers' views about the products of Warby Parker, these products are costly at different stores, and they are charging higher prices, which are different at different stores. The company has to ensure the fixed prices for its eyewear, and reduce the extra margin of the stores. The strategy of Home try-on has a strong and positive impact on customer's satisfaction and the sales of the products. According to this process, the company has to improve its sales volume the company offers home try-on service in which a person can order five pairs of frames. These frames will be delivered for free, and the customers will have five days to decide and choose their favorite frame. After the fifth day, the customer will send the frames back and pay for their favorite frames by having enough time for a decision. The client highly appreciates this strategy. However, there are some stores which charge higher prices of the eyewear of Warby Parker brands. The company has to shift its sales from stores to online shopping system.

Solution

The company has to facilitate its customers and provide them their desired products through an easy procedure. The company should make its app and website easy for customers, and deliver the products at reasonable prices, and free delivery. This issue will be resolved by cutting the margin of stores and approach directly to its valuable customers. It has a positive impact to reduce the cost up to a greater extent; however, this issue still raised by some customers.

Pricing strategy

Its prices start from $ 95 and range to $ 300, which are considerably higher. There are many brands in the market which provide lower priced glasses to its customers. However, the competitive advantage and unique offer of the company is that it provides the best return, refund, and exchange policy.

Warranty of the eyewear

The company offers one years warranty against the scratches. While within 30 days the company accepts the return for a full refund or exchange with other products.

Advantages

The company provides an excellent and secure shopping experience. The return policy is the greatest offer for its clients, and the competitors did not offer such a deal.

Disadvantages

The only disadvantage of the brand is its high pricing strategy. The company has targeted only the upper middle class. The company produces only luxury products which are not affordable by masses.

Competitors Analysis

The prices of the competitors are relatively less, and their target customers are range from lower to middle class. Here we will discuss the prices of all the competitors. For instance, the prices of Zenni Optical starts from $ 6.95 to $ 209.95 which has focused on all classes of the society such as lower class, middle class, and upper class. Similarly, the other competitor is EyeBuyDirect or EBD whose prices start from a very low range that is $ 12.95, and the highest price is $ 234.95. GlassesUSA prices start from a higher range of $ 48 which is still 50 percent lower than the price of Warby Parker.

Recommendation

The products of the company are widely used by the customers, and the company has provided an innovative deal for its clients. The purpose of the business is to provide the best solutions for the problems faced by the customers regarding their glasses. The company should also produce low price products which will be affordable for low-income people. To fulfill the needs of the maximum people, and there should be no person without glasses. According to the report, 15 percent of the world's population do not have glasses though they have eyesight issues. Moreover, I would recommend the company to reduce its costs through online sales and improve its online sales by upgrading its application and website.

References

History | Warby Parker. (2019). Warby Parker. Retrieved 10 April 2019, from https://www.warbyparker.com/history