Warby Parker
Warby Parker’s Outstanding Marketing Mix
Jennifer Green
Professor Ronald Williams
Graduate Marketing
25 July 2013
Warby Parker just sold its 500,000 pair of eyeglasses. This may not seem like much to industry giants like Luxxotica, who owns Ray Ban and Oakley, but it’s a milestone Warby Parker is happy to celebrate.
To understand why Warby Parker is excelling, we must first examine their marketing mix. Like a good recipe, if the marketing mix includes just the right mixture of all the right ingredients, the recipe is a success. The company’s way of doing business and their history fuels this success. Warby Parker began only 5 years ago by 4 college students who sought to find a way in which to purchase eyeglasses in a more affordable fashion. Without risking any of the benefits received when shopping at a brick and mortar shop, Warby Parker revolutionized the way consumers purchased eyewear. To purchase eyewear online, Warby Parker spent thousands of hours in research developing what they thought would appeal to customers. Customers wanted a more affordable way to purchase their eyewear but also wanted to look fashionable all while paying minimal prices. They traditional pair of prescription glasses could cost upwards of $500. This was appalling to Neil Blumenthal, Andrew Hunt, Jeffrey Raider and David Gilboa, the founders of Warby Parker. The largest portion of the cost was a profit to optical retailers. Warby Parket cuts out the middle man, the retailer, and sells directly to their clients. But how would the group find a way that customers could try on eyewear before they buy it? Who would purchase a big ticket item without the means to try the style on to assure the fit was right and the style was appealing? They discovered the solution. Home try-ons was the answer! Warby Parker ships–at no cost–five pairs of eyewear to customers. The customer then has five days to try on the glasses and decide, or not decide, on the
Jennifer Green
Professor Ronald Williams
Graduate Marketing
25 July 2013
Warby Parker just sold its 500,000 pair of eyeglasses. This may not seem like much to industry giants like Luxxotica, who owns Ray Ban and Oakley, but it’s a milestone Warby Parker is happy to celebrate.
To understand why Warby Parker is excelling, we must first examine their marketing mix. Like a good recipe, if the marketing mix includes just the right mixture of all the right ingredients, the recipe is a success. The company’s way of doing business and their history fuels this success. Warby Parker began only 5 years ago by 4 college students who sought to find a way in which to purchase eyeglasses in a more affordable fashion. Without risking any of the benefits received when shopping at a brick and mortar shop, Warby Parker revolutionized the way consumers purchased eyewear. To purchase eyewear online, Warby Parker spent thousands of hours in research developing what they thought would appeal to customers. Customers wanted a more affordable way to purchase their eyewear but also wanted to look fashionable all while paying minimal prices. They traditional pair of prescription glasses could cost upwards of $500. This was appalling to Neil Blumenthal, Andrew Hunt, Jeffrey Raider and David Gilboa, the founders of Warby Parker. The largest portion of the cost was a profit to optical retailers. Warby Parket cuts out the middle man, the retailer, and sells directly to their clients. But how would the group find a way that customers could try on eyewear before they buy it? Who would purchase a big ticket item without the means to try the style on to assure the fit was right and the style was appealing? They discovered the solution. Home try-ons was the answer! Warby Parker ships–at no cost–five pairs of eyewear to customers. The customer then has five days to try on the glasses and decide, or not decide, on the
Cited: Kotler, Philip, and Gary Armstrong. Principles of Marketing. 14th ed: Printice Hall, 2012. Print. Maastricht University, 2012. H. Web. 20 July 2013.