Business Finance Homework Help

Business Proposal Assignment

You work as a communication specialist at Warby Parker, reporting to co-CEO David Gilboa. Using the skills you’ve been practicing in this course, respond to this challenge:

You’re helping Gilboa prepare a report about the company. Gilboa characterizes the report as a “public business plan,” in that it will discuss the company and its objectives, strategies, and operations without disclosing the sort of confidential information that a typical business plan includes. The secondary audience includes potential investors, employees, and business partners.

To help overcome shoppers’ reluctance to buy eyewear online, Warby Parker has been test marketing the concept called Home Try-On, in which people in the South Florida test market can order five pairs of frames, keep them for five days at no cost, then decide which pair they would like to order, and which they will send back. This gives shoppers lots of time to try on the frames they are considering and get the opinions of family and friends.

On the job (Internal, Unsolicited Proposal)

Write a 2-3 page internal proposal, in memo format, to Mr. Gilboa, with your evaluation of the test market results and your recommendation on how the company should proceed with this concept based on that test. Remember to include headings or sub-headings for each section in the proposal that explain this program-e.g. Background, Solution, Recommendation, etc. Make sure to correctly identify and analyze your audience, as well as any possible secondary audiences. Remember, Mr. Gilboa, the person to whom you submit your proposal, is in a position to order the implementation of the change recommended.

It is important that you develop this memo with your own thoughts and input. You can make the test market experience good or bad, and base your recommendation on that. Make up any information you wish to bolster your case; in the real world, you would have this kind of data and information before you would write this memo.

Here is an example: A rough outline for a favorable recommendation:

Subject: Home Try-On Market Concept Test

Background: As you know…profits down, store rents rising, we are seen as an old-fashion, undynamic company by the general public. Question: is the internet the answer? Marketing came up with the concept of Home Try-On, and began test marketing it in South Florida in November of last year.

Perceived Risks Prior to Test Market: Concept too confusing for the public? What if customers did not return the 4 pairs of frames they did not want? What sort of breakage might be expected? Would postage and handling be too costly?

Test Market Results: The public seemed to love the concept. Orders very high. 98% return rate on 4 pairs they did not want. Virtually no breakage. Minimal shipping and handling costs, because customers had to agree beforehand to absorb these costs.

Recommendation: Expand test market to the entire East Coast for an additional 4 months. Prepare to go nationwide if results from that test equally encouraging.