Warby Parker Presentation.pptx - Applied Entrepreneurship WARBY PARKER Case Analysis Case Overview \u2022 Founded in 2010 HQ in NYC US$120,000 seed capital

Warby Parker Presentation.pptx - Applied Entrepreneurship...

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Applied Entrepreneurship WARBY PARKER Case Analysis
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Case Overview RMIT University School of Management 2 Founded in 2010, HQ in NYC, US$120,000 seed capital, by Four CEOs Neil, Dave, Jeff and Andy WARBY PARKER Innovated the mainstream eyewear industry by offering designer eyewear at a revolutionary price while leading the way for socially conscious businesses
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Lecture 1- Where do entrepreneurs get their ideas? RMIT University© School of Management 21 4% 5% 71% 20% RMIT University© School of Management 22 Sources of opportunities New information, e.g. new technologies Reconstruction of value chain and channels of distribution Market leaders are customer blind Proprietary advantage (e.g., licensing , franchise, sell IPR) Entrepreneurial leadership - Discover through systematic research - Swept into the PC revolution - Replicate/modify an idea - Discover Serendipitously
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Experience & Observation Dave kept squinting for a semester because he couldn’t afford to buy pair of prescription glasses for 700 US$ The eyewear industry was dominated by a single company ; owning and producing 50 brands, and selling them through own stores along with vision-insurance plan, which Charging high prices to helpless customers Of course… ..it is not the only way that you could design, manufacture, and sell glasses to consumers
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Entrepreneurial Idea By circumventing traditional channels and engaging with customers directly, we could provide higher-quality, better-looking prescription eyewear at a fraction of the going price How Can we do that? Should we do that?
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Recall Lecture- 1 Entrepreneurial Opportunity Personal fit – desirability – is this an opportunity for me? Feasibility – can I build a business around this opportunity? Significance – is the underlying need significant enough so that customers will pay for the final product or service? Sustainability – I can defend my business against substitutes and competitors?
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Can we do that?
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Business Model of WARBY PARKER 1- Target market: Males and Females who like fashionable eyeglasses at affordable prices 2- Value:
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  • Fall '19
  • Brand, Sunglasses, Warby Parker

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