medical student had enrolled after his disillusionment with the health care

Medical student had enrolled after his

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medical student, had enrolled after his disillusionment with the health-care industry led him to Bain & Company and the idea that business was the most powerful way to change the world. Blumenthal, an international-policy wonk who had studied at the Hague, had come to similar conclusions after a stint at VisionSpring, a nonprofit that helped distribute low-cost eyeglasses in India and El Salvador. “We were down in the computer lab, and Dave started describing how he just lost his $700 glasses,” 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 had this amazing idea to sell glasses online.” . Warby Parker is a fairly young company that was founded in 2010 (Warby Parker, 2014). The company is currently in the eyewear industry and entered the market solely focusing on their products on a lower price point, compared against their competitors. The approach taken to lower 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 needs online. This allowed the organization to focus on adding value through their supply chain on high quality products and offering these products to consumers directly from their manufacturing partners. In addition, to this approach the organization was also able to join
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partners of nonprofit organizations, such as Vision Spring. This approach allows the organization to eliminate unneeded cost and offer a selling price that is more affordable to the consumer. SWOT ANALYSIS Strengths Warby Parker has the following strengths, cost competitive advantage, unique and stylish design, services differentiation, socially responsible, creative and innovative environment for their workforce, high quality product offerings, and a great marketing strategy. Weaknesses The weaknesses of the company include their limited experience, small defined target market, informal workplace environment, funding extracurricular activities, limited distribution, and offers cash only sales, does not accept insurance. Opportunities 2
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  • Winter '16
  • Prof Dr Norish
  • Marketing, Sunglasses, Warby Parker

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