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Audrey Mayer
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Table of Contents
Environmental Analysis 4
Company Analysis 5
Product Analysis 6
Consumer Analysis 9
Competitive Analysis 9
SWOT Analysis 13
Brand Equity 13
Strengths 14
Weaknesses 14
Opportunities 14
Threats 15
Analysis of Research 15
Target Market Profile 17
Objectives and Strategies 19
Budget 23
Media Objectives and Strategy 26
Media Objectives 26
Strategy 29
Media Tactics 31
Media Flowchart 31
Bibliography 34
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Situational Analysis
Environmental Analysis
Major social or cultural factors that affect the buying minds and behaviors of
consumers include the fact that consumers are becoming more health conscious of what
they are eating and how their choices impact the planet. Since Warby Parker targets
toward millennials, and this age group makes up nearly 75.4% of people in the US,
making this their biggest market. Millennials like to set trends, do what they can to lower
their carbon footprint, eat organic foods, and create a vintage vibe to their lives.
Technological factors that affect buyers include the increasing popularity of
Ecommerce and social media to advertise products. Instagram, Twitter, Facebook, and
Snapchat may all have large affects in buyer’s decision-making processes. Since Warby
Parker uses the Internet to sell their goods, the impact of the internet on society is very
(Infographic from Goldman Sachs depicting that “the generation that
lives online, buys online”, showing that more and more millennials
are shopping and buying products online as opposed to instore)
Figure 1
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beneficial to them. Economic factors that affect consumers decision making processes
may include the fact that they do not want to leave their homes to shop and that online
shopping is becoming more popular for consumers. According to CPCStratgey.com,
96% of Americans prefer to shop online because they can avoid crowds and save time
(Kelly). The infographic above was taken from Goldman Sachs, stating that “the
generation that lives online, buys online” showing that more and more millennials are
shopping and buying their desired products online as opposed to going to a physical store
front to make a purchase. The ease and quick accessibility to online retailers is very
appealing to many people, and Warby Parker knows and understands this. They continue
to flourish in their online stores but have also recognized that some consumers appreciate
a brick and mortar shop, and in order to work to please their customers, continue to open
these stores across the country.
Political factors that affect buyers and Warby Parker’s business and the online
eyewear industry itself is the new GOP tax bill, which claims tax cuts for corporations
will help the economy but will mostly benefit shareholders and investors (Adamzyck).
This may affect small businesses by not being able to afford new equipment to produce
eyeglasses, which may in turn increase the price to make up for production costs.
Company Analysis
Warby Parker is an affordable online retailer whose focus is to meet consumers’
needs for quick access to trendy eyewear. Although they do primarily sell their
merchandise online, WP has a select amount of brick and mortar store fronts in big cities.
The companies philosophy emphasizes the “do good by doing good” mentality, quoting
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“good eyewear, good outcome”. This philosophy comes from their “buy a pair, give a
pair” program, where for every pair of glasses that are sold, another pair is being
distributed to a person in need in 50+ countries across the world. This powerful ad that
Warby Parker created showcases their “Buy One, Give One” campaign. The girl on the
left lives in the city, goes to school, and lives a normal suburban life, whereas the girl on
the right is on the receiving end of the “Buy One, Give One”. She is given a pair of
glasses because of the purchase made by the female on the left. This ad is very powerful
and definitely uses emotional appeals to attract consumers to buy Warby Parker.
Consumers tend to gravitate towards purchases that they know are helping or donating to
other causes because it makes them feel better about themselves, and also helps someone
somewhere else.
Warby Parkers mission statement states “Warby Parker was founded with a
rebellious spirit and a lofty objective: to offer designer eyewear at a revolutionary price,
while leading the way for socially conscious businesses.” They believe that high-quality,
(Warby Parker ad showcasing the “Buy One, Give One” partnership they
participate in with 50+ countries all over the world)
Figure 2
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trendy prescription eyewear does not need to break the bank but save you money. Within
the company, eyeglasses are the brands main product, but they also offer sunglasses.
Since the product can be purchased online, it is easily accessible from anywhere that you
are. This helps consumers realize that they do not need the middle man (eye center sales
people) to help them pick out and buy their glasses.
Product Analysis
Warby Parker was started in 2010 by four friends to create a more affordable
alternative for reliable eyewear with quick access to its online retailer. The main features
and benefits that Warby Parker possess include the fact that it is affordable, fashionable,
easily accessible, and their philanthropic work with VisionSpring. Their glasses prices
(Warby Parker Facebook post introducing their new collection,
Epigraph)
Figure 3
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start at $95 and go up from there, which is an appropriate amount of money for the
quality and value of the product. Consumers care about how a product looks and makes
them feel, and WP knows and caters to their wants and desires. This graphic made my
Warby Parker was posted on their Facebook page, showcasing their new collection
“Epigraph” Their use of social media to show off their new products According to
Fortune.com, consumers, specifically millennials, who are platforms like Facebook,
Instagram, and Twitter’s largest age demographic. Warby Parker’s main target market,
