Target Markets Segmentation (Demographic and Psychographic):
Warby Parker has two main product lines. One is eyeglasses, the other is sunglasses. For the eyeglasses, Warby Parker use the method of Demographic segmentation that divides the market into segments based on the targeted customers’ income and occupation. They are targeted at the young people who studying at the college or the people who have low or unstable income. Since Luxottica dominates brick and mortar glasses sales, at 49.5% market share. It will cost around $500 to buy a new pair of glasses, most of the college students find it really expensive to have a high quality and fashionable prescription glasses. Warby Parker evaluated each market that the company is going to enter,
Waitrose is part of the John Lewis broadband brand. Many people!e are familiar with John Lewis for its other offerings but they are not so familiar with the Waitrose broadband. The names are often used interchangeably. John Lewis is a department store with a couple of products that were created to turn it into a one-stop shop. Most people who find themselves with a Waitrose broadband offering have come across it on their way to doing something, they trust whatever the part company offers.
PetSmart is one of the largest specialty pet retailers of service and solutions for the lifetime of pets. More than 1008 stores are open in the United States and Canada that provide pet foods and supplies that are priced reasonably. PetSmart provides all types of services for pets including pet training, pet grooming, pet boarding and adoption services. In addition to providing impressive value PetSmart has the broadest, deepest product range in the industry, including thousands of products exclusive only to PetSmart. Every year PetSmart takes care of the grooming for hundreds of thousands of pets in what PetSmart calls its PetSmart Salons. These animals are groomed and pampered by stylist who have
I would recommend Warby Parker to provide the progressive and bifocal lens glasses. They will have a new product line which will sell the eyewear directly to the customers at brick and mortar stores. The reason is that there are lots of people require progressive and bifocal lens glasses so there is a huge potential growth for the progressive and bifocal lens market for Warby Parker. Also, the profit margin of progressive and bifocal lenses is higher than normal lenses that Warby Parker is providing now. Mostly, older people like to use progressive and bifocal lens glasses, and they are less likely to get LASIK, so they are a stable target market.
1. Williams-Sonoma has experienced strong growth in the past year, but this is on the back of a strong economy and in particular a strong new home market. The furniture business is strongly correlated with the strength of the real estate market. In this respect, the company's strategy is largely irrelevant, because within the next five years the real estate bubble will burst and Williams-Sonoma will suffer a major downturn in its own results as a consequence. However, this reality shows that the company perhaps lacks sufficient differentiation, and can only be expected to perform roughly in line with the housing market. It is neither outperforming competitors nor is it underperforming. W-S has sufficient differentiation within the furnishings and home products segment, and has a fairly strong brand name in the segment. The company's status as a mass-market premium company allows it to grow strongly in strong economic times, but also makes it particularly vulnerable to economic downturn, because not only do consumers redecorate at greater intervals, but they will trade down to more affordable stores when they do.
Once Home Depot’s marketing plan contains a thorough description of the scissor lift, it will then focus on the branding, pricing, and distribution of the lift. The plan will also need to include a product branding and pricing strategy, as well as examine how the pricing strategy supports the branding strategy. In addition, Home Depot will prepare a distribution channel analysis from which it will create a distribution strategy, determine whether the company is going to use a push or a pull strategy, and how the distribution strategy fits the product.
Warby Parker was founded in 2010 by Neil Blumenthal, Andrew Hunt, David Gilboa, and Jeffrey Raider - in the Venture Initiation Program of the Wharton School of the University of Pennsylvania. Warby Parker designs glasses in-house and sells directly to customers to avoid retail markups. The company primarily sells eyewear online and through its New York City headquarters extension into retail stores. Warby Parker’s Home-Try-On program allows customers to select five frames from online to try on at home for five days, without charge. The company also allows its customers to upload a photo and try on frames virtually. Warby Parker is a mission centered company that has done a great job displaying its organizational culture, engaged its team
Warby Parker is a designer eyewear brand found in 2010, which has shifted the eyewear market by simply questioning why the cost of a pair of glass is same as an iPhone? Warby Parker has realized that the Luxottica, who own a huge market share in the eyewear industry, has been trying to control the price of designer eyewaear by keeping extremely high prices that are not affordable to all customers. This long-established industry high price model has been removed by Warby Parker by seeing things in a new perspective (Patino,2017).
Warby Parkers glasses are designed, and made with the same materials and in the same factories that produce Luxottica’s designer glasses. So there is no quality difference between the brands. Warby Parker shows that their competitors have enormous mark-up in eyewear retail. Warby Parkers were able to find success on their pricing strategy by market penetration and reference prices, recognizing that the market was sensity to price even though majority of the market was priced significantly higher. Warby Parkers used market penetration pricing to set its product at a lower price at $95 where a majority of the market was at $500. Their target market was also concern with price quality Warby Parkers ability to use the same manufactures and materials gives their target audience the ability to purchase a luxury item but at an affordable cost. However, this staragy of entering onto a market with the lowest prices only is able to work if Warby Parker is able to remain profitable. They are able to keep their cost low and their break-even point low as well by removing the middleman and passing the savings onto their customers. Warby Parker is able to remain
The origination of name Warby Parker is an interesting story. The co-founder Dave was at the exhibition about jack Kerouac.in one of the journal at the exhibition Dave noticed two interesting names Warby pepper and Zagg Parker. Every big or small business idea comes because of the problem.Glasses never been cheap, when the founders were in college one of their friend lost his glasses on a tracking trip.At that time and yes till the warby parker came into existence to make a new glasses takes a pretty good money.that friend came to college and attended the classes without glasses for whole one year.this made to think founder the problem millions of people facing in this world. according to survey one billion people unable to access glasses that make around 15% of the population of the world,that means this much people works and learn without clear vision.he came with an idea of offering the glasses at the reasonable price or we can say affordable price to the people of this world. Warby Parker is helping those people of the world who cannot afford glasses by giving them pairs of glasses as a charity.Warby Parker distributes one pair of glasses on a sold of one pair to needed persons around the world with the help of Warby Parker partners non-profits like Vision
The best way to identify if the Home Depot’s marketing strategy is to compare the actions taken to the 4 P’s of marketing (Parnell, 2014). Price, promotion, product or service, and place or distribution. Promotion, Distribution, and distribution match the corporate strategy of a focused differentiated organization, but Price does not.
There are over 1.1 million men and woman amateur and pro bodybuilders alone in the United States. The IFBB has competitors age ranges from as young as 16 years to as old as 83 within a range categories for competition, The NutiBullet Pro is a necessary tool to assist the competitors in preparing for competitions fulfilling a need for a quick, convenient and easy way for bodybuilders to create their protein shakes, whey smoothies or one of their required 6 to 7 meals a day.
When Quiksilver announced the start of its women line Roxy in 1990, they defined the brand as a “fun, bold, athletic, daring and classy” brand for young women. Market segmentation is a crucial marketing strategy and Roxy utilizes the four bases that are commonly used for segmenting consumer markets including geographic, demographic, psychographic, and benefits sought segmentation. The geographic segmentation is ideally unlimited for the Roxy target market because the brand offers clothes for both warm and cold weather, however, it focuses mainly on the “beach lifestyle” and is generally more popular in beach towns. The demographic segmentation of the Roxy brand, is aimed to attract young women between the
In general terms, marketing is all related to the places of buying and selling of goods and services to satisfy customers’ needs. Nowadays marketing is the most important issues for success of every business marketing is the activity, set of institution, and process for creating, communicating, delivering, and
Hollister Co. was founded in 2000 and is based in Los Angeles, California. The company operates as a secondary business for Abercrombie & Fitch Management. The company provides clothing and accessories for men and women. Hollister’s main target consumers are teenagers. Hollister retails its products through a chain of stores in the United States, Canada, and the United Kingdom. They also sell their products online. The marketing strategies that Hollister use to promote their products are by using a logo, a slogan, and informing what their products are pertaining too. Two of the marketing strategies are very effective in attracting consumers while one of the marketing strategies needs more research to be done. Because of Hollister’s well known slogan, attractive logo, and the way they use celebrities to represent their product, this makes them unique compared to other clothing businesses.
There are three options to price the new Virgin Mobile line in the US. The first option involves setting prices at the same level as the competition. The benefit of this option is the ease of implementation, but the drawback is the lack of differentiation. Virgin Mobile will not be setting itself apart from other companies, by