Vera Bradley Case Study

4647 words 19 pages
GBA 490 – 007
23 September 2015
Vera Bradley Case

Table of Contents
Page Numbers
Executive Summary……………………….…………………………………………….……………………………..3-6
Appendix A: Dominant Economic Characteristics…………………………………...…………………..6-7
Appendix B: PESTEL Analysis……………………………………………………………………….……..……….7-9
Appendix C: Five Forces Analysis……………………….…………………….………….……..…………….9-11
Appendix D: Industry Driving Forces………….………..………………..……………..……....………..11-12
Appendix E: Key Success Factors…..………………………………………………….………...............12-13
Appendix F: Financial Analysis..………………………………………….……..……..…….………………13-16
Appendix G: Resources and Capabilities Analysis (VRIN Test)…….…..…………….…………16-17
Appendix H: Weighted Competitive Strength
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The strategic group map in shows the placement of companies in the industry (Appendix I). The main strategic issue that Vera Bradley faced was over-expanding the brand. As long as the company had been around, Vera Bradley had been synonymous with unique and colorful patterns for handbags and luggage. In recent years, Vera Bradley had expanded their brand to include leather goods, in order to compete with rivals who carried mostly leather goods. These newer products were intended to reach a different, older age group of women. Another strategic issue that Vera Bradley faced was trouble drawing new customers to the brand.
Vera Bradley faced a few strategic options for the company moving forward. The first option included dropping the newer products, and placing more focus on the core patterned products. These products resonated well with a younger market, and the company could turn its effort to penetrating this market more wholly. Customer loyalty for the brand in this market was very high, which showed that these traditional products kept customers coming back to the brand. The second strategic option would be to begin a large marketing campaign to draw new customers, a different market, to the new products. A large reason that Vera Bradley was not successful with its newer products was that consumers were not aware that the company sold products other than the quilted cotton patterned bags. If Vera Bradley could effectively market these new products to consumers, they

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