Vera Bradley's Strategic Plan
Yes it does, Vera Bradley's strategic plan for 2015-2019 is well defined and designed to improve the company’s competitive position, financial performance and shareholder value over the long term. One of the strengths of Vera Bradley is loyalty to their customers. They offered the fact of Coloured products to consumers. The company’s strategic plan focused on three major areas which include: product strategy, distribution channels and marketing. For the product strategy, the company focused on producing and designs a wide range of products including handbags; accessories such as purses, eyeglass and cosmetics; and travel items such as duffle bags, clothing bags, rolling luggage, and cosmetics cases for travel, which are part of the core seasonal version. Furthermore, the company focuses on improving its product assortment by focusing on its core design through the expansion of price point. The company's plan provides that the company is focusing on producing materials of two to four solid patterns per season that were used in each of the major product categories. Also, directs the company's plan to stop the production of low-selling goods, and sell the remaining inventory of retired products primarily through the company’s website, outlet stores, and annual outlet sale. …show more content…
the plan stated that the company will focus on selling the product through department stores, full-line stores, outlet stores, as well as through e-commerce. Vera Bradley is looking to add approximately 20 to 25 new stores in the next few years, that will help to increase the products sold in the outlet stores of the company about 40 percent. However; The company has focused more on the sale strengthens the company's products through department
What Is Vera Bradley's Growth Strategy
146 Words | 1 PagesVera Bradley has two options for their growth strategy. One option is to use market penetration and increase their number of retail and outlet stores to expand their exposure and be more readily available to existing consumers. With only 99 stores open at the end of 2014 contributing to the $536 million in revenue, an increase to 150 stores can contribute almost $275 million in additional revenue. The second growth strategy Vera Bradley could implement is diversification. Vera Bradley can create a new line of products using their new higher quality materials to attract new customers and they can penetrate a new market.
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520 Words | 3 PagesSummary Vera Bradley happens to be one of the exclusive accessory store, offering a distinctive range of products like bags, purses, handbags, jewelry and backpacks for women. The brand is well-known for its famous tailored cotton items with vibrant designs and often available at discounts. You can further save on probably all the products in this shop by using our completely free Vera Bradley coupon codes. So, quickly go through this page and see what’s in here for you.
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