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Vera Bradley's Strengths And Weaknesses

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Vera Bradley on its own innovative strategic plan, company is racing steadily to reach the target in all aspect like business-wise, products etc. in every financial year successfully. There are so many rivals in leather goods industry and they are also neck-to-neck fighting through the upgradation in various sectors. With the launching of two to four products in each season in various items like handbags, travel item etc. than ahead of other rivals. New strategy to launch the new products is well analyzed through the market survey in convenient way. Company is also well emphasized on product development with innovative design and also quality wise. Our company is trying to reach always best level position in this industry through the process …show more content…

Vera Bradley is also emphasized on strong supply chain that helps to obtain the right sources from suppliers and delivery the right product to customers in a timely manner. One of the major strengths is strong brand name that helps ability to charge higher prices for their products because customers place additional value in the brand. Vera Bradley’s has its weakness, Vera Bradley’s goods and services are not being utilized properly due to inefficient work environment. Due to impecunious decision, company can go bankrupt. Company can affect over the long run due to weak supply chain to arrive the products in time that can scratch on customer’s mind and also branding. Innovative technology that helps to better meet their customer’s needs and improved product and services. Unfold markets are fast growing regions of the world that authorize Vera Bradley to quickly expand. Company needs to focus on new markets that allow to amplify their business and obviously their portfolio of products and services. Vera Bradley’s business can devastate bad economy by decreasing the number of potential customers. To grow in a mature market, has to increase the market share which is difficult and expensive. Company also needs to focus on change in products, volatile costs and substitute

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