Social and cultural factors:
Warby Parker sought beauty and Buzz as cultural factors where it was named Netflix of eyewear in the year 2010. In its first fashion performance in New York, their Company had a renegade and Gorilla presentation where they were snuck in two witness models, which helps people read books with each style of the frames. Also, apart from fashion, the Company supports other cultural influencers like a United States tour that ought to advertise the product and create awareness to the locals. Warby Parker also created an opportunity for its customers by testing the retail market also important in assembling cultural influencers who have continued to serve as drivers of the Company’s organic growth and brands. According to Voorn et al. 2021, pp.48-59, making high quality glasses an influencer factor to the consumers and their taste also helps in the cultural relation of the Company, thus helping the Company grow economically.
Warby Parker has also employed more than 1400 people, thus making a social impact on the community and the Company. Production of glasses of their type that fits the interest of the consumer help in creating a social relationship between them, leading to Park et al. 2020. Pp.28-37. The Company has a social impact also in the carbon-neutral brands that they produce, reducing the environmental impact by creating greenhouse gas emissions. This helps in office work where individuals use the produced eyeglass in the office, impacting people’s social lives. The glasses produced by the Company also help in health factors of human with eye problem with the sunlight thus reducing the radiation of the sunlight. Also, Warby Parker has been able to bring fashionable glasses to people with less than $100 per frame, which has been affordable, thus attracting more customers due to their quick delivery.
Warby Parker is a digital business thus has a vast improvement in technology development which help it in marketing its products to retails and reach out to their customers. In their technology development, they are using Artificial Intelligent and Augmented technology reality to change retail. Since the launching of this digital business, it has the objective of offering designer eyewear at an affordable price and offering a pair of glasses to every individual in need of a pair sold as a competitive factor. According to Carlson et al. 2017, N.P. Try-on technology to high-tech, which improved the glass company where individuals are allowed to take the glass at home and fit their shape, which Is done online. This has been made significant by introducing a virtual try-on that helps individuals try on the virtual frame under augmented technology that overlays computer-generated images into the owner’s face. This technology uses Apple’s face to map the customer’s face, thus helping in tracing and recommending the frame size that suits the customer through the tracked face.
Artificial intelligence is another technology reality that is used to nurture clients and improve relationships between customers who visit the website. In A.I., they use marketing techniques that help them communicate with customers that visit their site and leave without purchasing, therefore bringing personalization of communication by the Company to language that convinces the customers. Furthermore, a.I. algorithms are used in business communication that helps in achieving Warby Parker business communication with their online customers Carlson et al. 2017, N.P. Therefore A.I. helps in delivering what customers order that is different from the retails. Also, A.I. help responds to the customers in inquiry if the storeman is not available, thus reducing frustrations of the customers from getting negative answer thus modernizing online shopping experience where A.I. can transact any business with the absence of personnel.
SWOT stands for strengths, weaknesses, opportunities, and threats. This table summarizes your situation analysis in a visual form. Strengths and weaknesses are internal to the Company, while opportunities and threats exist outside the Company (e.g., competition, customers, or environmental trends).
As SWOT stands for strengths, weaknesses, opportunities, and threats, strength and weakness are internal factors to the Company while opportunity and threat occur outside the Company. First, weaknesses are experienced within the Company through the limited experience of the Company that is five years old, thus making the Company fail in its eyewear glasses trend. On the other hand, gaining the Company’s experience can help gain strength to the employees. In this situation, the organization needs to monitor the employees and the work done because they might boycott the work, and also profitability can be experienced through motivation of the workers. Also it has a weakness of limited channels used by the organization in selling of their product. Therefore this makes their product have limited market since many customers are unable to access them online. Lastly is the weakness of Company’s only accepting cash without any other form of insurance? This limit the market place of their products to customers who purchase their eyewear through the insurance companies.
On the other hand, Warby parker are seen socially with opportunities through their effort on technology that further help in enhancing the image of the Company through social res[possibility and green initiative. Partnering with other companies gives warby parker an opportunity to move forward through attainment of skills from others thus making a digital step ahead of them. And finally the Company can have opportunity of developing unique styles of selling and reaching to their customers that may be more appealing to their online consumers. Also there is a threat on market details, Warby parker has a buy give one marketing campaign that has been challenged by their competitor TOMS who offers free pair of glass to customers who is in need or buys eyewear. This marketing threat make the two Company to run a similar promotion which brings competition to Warby parkers thus making them to present a small portion of eyewear market. Finally, change in online shopping by consumers is also another threat to warby Parker Company who sells their product mostly on online shopping trend. This change puts their Company in risk if consumers can change their purchasing habits.
As one of the marketing strategy, Warby parkers’ uses pricing strategy by offering affordable and uniform prices of their products to the consumers. Therefore this makes Warby parker customers to focus only on the eyewear glasses that reflect their personality and style thus losing some of the customers. Also on the pricing strategy they introduced a seasonal price that could favor customers since it was not permanent fixed, they decided to put a two digit figure of $99 instead of $100 which they feared customers could fail to buy their product due to the three digits strategy. Also the idea of any customer in need and willing to buy a pair of glasses could get another pair of glass free after purchasing which marketed their eyewear glass worldwide. They got a profit times the one were earning during the start of the Company, therefore offers and promotion made their product to sell making more profit Gao 2020, pp.775-791. The idea of the TOMS of buy one/get one also was used by the Warby that made their online marketing go into a higher rate more than 60% of the consumer since they value companies that gives back to the society. Promotion in the social media which is followed by the highest percentage of the population. Online shipping and promotion help in marketing their product on eyewear.
On measuring the performance of warby parker, the Company is an example of social responsibility that is in a competition of market with other companies but they are I a vision of helping the people in need and also understands the economy and target the market. Also the employees are paid and treated fairly while customers are satisfied with the quality and value of the product. They are also giving their product at a cheaper and affordable prices and also giving some of it away to the need people. Therefore because the Company is given that big public commitment, they do social audit to ensure they are living to their promise and continue earning the trust from the customers. Measure and data collection can be measured through mobile application that the company use, relate website and retail store related to the service that individual may use with the purpose of performing a vision test.
Use of prescription check also help in services of the eyewear updates.
As I sum up, Warby packer digital business has the business plan that guides the Company into its performance and help them in a competing with other companies thus making them the best. Problem of the Company have solved and resolutions made through using online marketing of their eyewear glass product. Market strategies have been used where warby parker have managed to market their eyewear product globally factoring the giving back to the society to individuals in need. Promotion of the company product through the idea of buy one/ get another has impacted market of the glass. Also pricing is another factor that have impacted the marketing of this product where the price have been set in a standard way and seasonal. Price of the product have been affordable to willing customers thus making the Company sell more product in a competitive business.
Technological development has also impacted the marketing the Company’s product where through the use of Artificial Intelligence the Company have been able to improve the relationship between individuals and warby parker through a good communication. A.I. has been used as a technology of realism to act in online business by responding and transacting business even in the absence of personnel. Also the use of Augmented has helped the Company in competing others where through the use of technology, the Company has been able use the virtual try-on technology which help people to find which grasses fits them through the tracking of their face.
Park, J. and Nam, W., 2020. Transition of Corporate Designers’ Perception for Social Impact Management. International Journal of Advanced Culture Technology, 8(3), pp.28-37.
Voorn, R.J.J., van der Veen, G., van Rompay, T.J.L., Hegner, S.M. and Pruyn, A.T.H., 2021. Human values as added value (s) in consumer brand congruence: a comparison with traits and functional requirements. Journal of Brand Management, 28(1), pp.48-59.
Carlson, G. and Larco, N., 2017. Re-Imagining Retail.
Gao, F., 2020. Cause marketing: Product pricing, design, and distribution. Manufacturing & Service Operations Management, 22(4), pp.775-791.
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