Warby parker | Business & Finance homework help

 Please provide a one to two-page paper on the topic. This work should include an opening paragraph clearly restating the questions (DO Not simply copy the questions). Then apply at least one complete paragraph on each of the topics, followed by a closing or summary paragraph. Cites and structure should comply with APA v6 style. 

Questions

  1. In this chapter, business was defined as the organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society’s needs. In what ways is Warby Parker satisfying the needs of its customers?
  2. Given that Warby Parker’s original idea was to sell online to minimize distribution costs and keep prices low, they now have opened over 50 stores in 22 U.S. states. Do you agree with its more recent decision to open traditional retail stores?
  3. Imagine you wear eyeglasses and have just broken your last pair of glasses. Would you purchase glasses from Warby Parker’s online store or go to a traditional retailer? Explain your answer.

Warby Parker Puts Affordable Eyewear in Focus

Entrepreneur—a person who risks time, effort, and money to start and operate a business. That definition describes Dave Gilboa—along with Neil Blumenthal, Andy Hunt, and Jeff Raider—four entrepreneurs who started a new type of eyewear company called Warby Parker. Their goal was simple: Sell eyeglasses for less than $100 per pair. The business idea grew out of co-founder Dave Gilboa’s personal experience. When he was a graduate student, he lost his glasses while hiking and was so outraged by the high price of replacing them that he squinted for months rather than buy new glasses. Eyeglasses are made from wire, plastic, screws, and glass, yet the retail price is often many times the actual cost of the materials, yielding a hefty profit margin. Adding a designer logo to a pair of frames pushes the final price even higher. Talking with friends, Gilboa learned he wasn’t the only person unhappy about having to spend a lot for eyeglasses. So the four entrepreneurs became a team and created a business plan for a new kind of eyewear company that would sell eyeglasses at an affordable price.

What really makes Warby Parker different? How can they sell eyeglasses and sunglasses for less than $100 while other retailers and marketing intermediaries including LensCrafters, Pearle Vision, and Sunglass Hut sell their products for much more? Again, the answer is simple: They sell directly to consumers. Direct marketing through its online virtual store keeps Warby Parker’s distribution costs low and avoids the kind of markups that other retailers use to increase the final price they charge in order to boost their profits. Another reason why Warby Parker can charge less is that its in-house designers develop all its frame styles, which means no licensing fees for the right to use famous fashion logos. Customers benefit because Warby Parker passes the savings along in the form of affordable prices for quality eyewear.

Warby Parker’s online website makes it easy—very easy—to buy eyeglasses. Customers can select up to five eyeglass frames from its online inventory and have their choices delivered for a five-day free at-home trial before purchasing a pair. Warby Parker pays the postage both ways, so the customer risks nothing. Frame prices begin at $95 per pair, although optional extras such as progressive lenses will increase the final price. After deciding on a frame, the customer submits a prescription, clicks to finalize the order, and receives new glasses by mail within one to two weeks.

Originally, Warby Parker marketed its eyeglasses only online. In 2010, initial sales were so brisk that the startup surpassed its first-year sales objectives by the end of the first three weeks. During the first six months of 2011, Warby Parker had already sold 85,000 pairs. Since then, sales have continued to grow each year as more tech savvy customers are purchasing eyeglasses online. But not everything is online. Customers have always been able to visit the company’s headquarters, see frames in person, and try them on before ordering. This proved so popular that after a few years, the co-founders decided to open small showrooms in large cities so more customers could try on frames and consult with staff before making their purchase.

Now Warby Parker has embarked on an ambitious strategy of opening more stores in cities where the company’s database shows high concentrations of customers. It now has over 50 stores and showrooms in 22 U.S. states. Some of these stores are equipped for optical examinations. Some include photo kiosks so customers can snap fun photos of themselves wearing different frames and post to social media for advice from friends. The photos don’t just help customers make buying decisions—they keep the Warby Parker brand in the public eye and help the firm stay in touch with customers who opt to receive communications.

What’s next for Warby Parker as it shakes up the eyewear industry with direct marketing, retail stores, low prices, fun styles, and social responsibility? Good question. While sales are reported to be over $100 million a year, the company does have a social conscious: It donates a pair of glasses to someone in need for every pair it sells. As evidence of its commitment to social responsibility, Warby Parker is now a “B corporation.” Choosing to become a B corporation is one more way to demonstrate its commitment to social responsibility and attract customers, investors, and employees who share those values. At the time of the publication of your text, Warby Parker is funded by private investors. And although there have been rumors that Warby Parker will sell stock to the general public, it is just speculation at this point. You may want to keep your eyes open to see what happens to this young eyeglass company and how it may impact the eyeglass industry.

Calculate your paper price
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Papers

We value our clients. For this reason, we ensure that each paper is written carefully as per the instructions provided by the client. Our editing team also checks all the papers to ensure that they have been completed as per the expectations.

Professional Academic Writers

Over the years, our Acme Homework has managed to secure the most qualified, reliable and experienced team of writers. The company has also ensured continued training and development of the team members to ensure that it keep up with the rising Academic Trends.

Affordable Prices

Our prices are fairly priced in such a way that ensures affordability. Additionally, you can get a free price quotation by clicking on the "Place Order" button.

On-Time delivery

We pay strict attention on deadlines. For this reason, we ensure that all papers are submitted earlier, even before the deadline indicated by the customer. For this reason, the client can go through the work and review everything.

100% Originality

At Essay USA, all papers are plagiarism-free as they are written from scratch. We have taken strict measures to ensure that there is no similarity on all papers and that citations are included as per the standards set.

Customer Support 24/7

Our support team is readily available to provide any guidance/help on our platform at any time of the day/night. Feel free to contact us via the Chat window or support email: support@acmehomework.com.

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Essay USA has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.

Essays

Essay Writing Services

At Essay USA, we prioritize on all aspects that bring about a good grade such as impeccable grammar, proper structure, zero-plagiarism and conformance to guidelines. Our experienced team of writers will help you completed your essays and other assignments.

Admissions

Admission and Business Papers

Be assured that you’ll definitely get accepted to the Master’s level program at any university once you enter all the details in the order form. We won’t leave you here; we will also help you secure a good position in your aspired workplace by creating an outstanding resume or portfolio once you place an order.

Editing

Editing and Proofreading

Our skilled editing and writing team will help you restructure you paper, paraphrase, correct grammar and replace plagiarized sections on your paper just on time. The service is geared toward eliminating any mistakes and rather enhancing better quality.

Coursework

Technical papers

We have writers in almost all fields including the most technical fields. You don’t have to worry about the complexity of your paper. Simply enter as much details as possible in the place order section.