Question

Review the Vera Bradley Case Study at the end of Chapter 2.

Compose a minimum of 1,400 words in which you discuss the Vera Bradley Case Study.

• Examine what resources were critical to getting the company off the ground.
• Elaborate on what conclusions you can draw about the market research and the level of analysis and planning employed by Barb and Pat.
• Explain your opinion of the company's sales and distribution strategy, and its production strategy. Identify feasible alternatives to these, given Vera Bradley's resources.
• Explain your opinion of Vera Bradley's initial focus on middle-aged and older women and whether this decision will lock it out of expansion to a younger demographic market.
• Discuss your opinion of whether Barb and Pat's focus on company culture is advisable during this early stage of company development and growth. Examine what would happen to the sustainability of that culture if and when the company experiences major growth.

Thanks in advance.

Answer 1

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Examine what resources were critical to getting the company off the ground.

Vera Bradley had a need for resources to start a lucrative business. Pat and Barbara’s needs were to have money, fabric, one seamstress, supplies, full-time employees, financial expertise, business cards and potential investors, who believed in them to get the company up and started for the gift shows to present their products Seeking out experienced seamstresses, deals on wholesale fabric, and perhaps most importantly, good business and financial advice. In just three years, the firm topped $1 million in sales and has enjoyed steady growth ever since.  Even with their many business accomplishments, Baekgaard and Miller never hesitated to contact SCORE and Cook for advice. The Vera Bradley team contacted Ft. Wayne SCORE and were matched with volunteer mentor George Cook. Cook applied his extensive experience in corporate finance to help Baekgaard and Miller develop a business plan, as well as establish bookkeeping and inventory procedures. From the very start, George insisted on a balance sheet, profit and loss statement, and inventory report every month.

Elaborate on what conclusions you can draw about the market research and the level of analysis and planning employed by Barb and Pat.

The market research that the women used certainly helped them. They knew that most luggage that was considered attractive and trendy was probably expensive and not functional. Both Laura Ashley, known for its floral printed fabrics, and Pierre Deux, maker of French country-style handbags and accessories, targeted the high-end of the market with attractive products. They visited stores to do some research. However, neither of these potential competitors produced a duffle bag suitable for weekend or air travel. The women wondered if they could make attractive but functional bags for everyday use and travel at a price that would appeal to a broader audience.

Under the best circumstances, it's a challenge to individually implement ERP and supply chain solutions, automate paper-driven processes or move to a larger warehouse. And these ladies tackled it all at the same time. But they really had no choice with the company was growing so fast it had to make improvements to meet customer demand and keep its product line fresh. They used their friends and family to research in the beginning to access market response and how fast the market was growing. The women researched the market well to appeal to both types of women and focusing on what consumers’ reactions, behaviors, wants, needs, and styles that need to change regularly.

Explain your opinion of the company's sales and distribution strategy, and its production strategy. Identify feasible alternatives to these, given Vera Bradley's resources.

Vera Bradley strengths is its dedications to its customers. They offered verity of colorful products to consumers. Its redefined strategy is to focus on limited products, but in the same time offer better quality. The plan is focused on three main areas which include products, distribution channels, and marketing.

It was a little hard because they didn't have sufficient seamstresses for product demand and limited quantities of material and zipper for their product. They began to buy and sell their products at shows, call and show shop owner. The Chicago Gift Show provided the company with a certain amount of exposure to the distribution channel. And with the numbers growing, they also earned revenues: from just $11,000 in 1982 to $503,000 in 1985 to $4.8 million in 1990.

The partners could have looked for local manufacturers that could provide them with the quantities needed. It could have been possible to use material faster and possibly less expensive. Any problems originally had to be omitted. They could also be able to easily and quickly study new patterns and accessories. They could also have put in classified ads and other jobs if they needed additional work.

Explain your opinion of Vera Bradley's initial focus on middle-aged and older women and whether this decision will lock it out of expansion to a younger demographic market.

With Vera Bradley 's decisions, Pat and Barbara will not reduce their sales or growth in the younger demographic market. Young college women who are seeking more responsibility for their future jobs or students who are on the journey to work want to train and be seen in the way of working people as young, mature, elegant and versatile. Vera Bradley has acknowledged that she is expected to fulfill its wishes every year. Tendencies are changing and products are being built, and Pat and Barbara want to attract older and younger women.

Discuss your opinion of whether Barb and Pat's focus on company culture is advisable during this early stage of company development and growth. Examine what would happen to the sustainability of that culture if and when the company experiences major growth.

Pat and Barbara should be involved in Vera Bradley 's culture. It is highly recommendable or harmful in the early stages of the business development and growth if not taken seriously. In addressing and incorporating organizational culture at the very early stage of business development and growth, the company should grow positively.