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medical student, had enrolled after his disillusionment with the health-care industry led himto Bain & Company and the idea that business was the most powerful way to change theworld. Blumenthal, an international-policy wonk who had studied at the Hague, had come tosimilar conclusions after a stint at VisionSpring, a nonprofit that helped distribute low-costeyeglasses in India and El Salvador. “We were down in the computer lab, and Dave started describing how he just lost his $700glasses,” Blumenthal recalls. Two other students, Andrew Hunt and Jeffrey Raider,commiserated, and it turned into a confab. “Jeff’s glasses had recently broken, and Andy hadthis amazing idea to sell glasses online.” .Warby Parker is a fairly young company that was founded in 2010 (Warby Parker, 2014). Thecompany is currently in the eyewear industry and entered the market solely focusing on theirproducts on a lower price point, compared against their competitors. The approach taken tolower the price point of their products was to develop a business model with low overhead.The founders focused in on the growing trend of consumers purchasing their eye wear needsonline. This allowed the organization to focus on adding value through their supply chain onhigh quality products and offering these products to consumers directly from theirmanufacturing partners. In addition, to this approach the organization was also able to join
partners of nonprofit organizations, such as Vision Spring. This approach allows theorganization to eliminate unneeded cost and offer a selling price that is more affordable to theconsumer. SWOT ANALYSIS Strengths Warby Parker has the following strengths, costcompetitive advantage, unique and stylish design, services differentiation, sociallyresponsible, creative and innovative environment for their workforce, high quality productofferings, and a great marketing strategy. Weaknesses The weaknesses of the companyinclude their limited experience, small defined target market, informal workplaceenvironment, funding extracurricular activities, limited distribution, and offers cash onlysales, does not accept insurance. Opportunities 2