Question

1. In this chapter, business was defined as the organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society's needs. In what ways is Warby Parker satisfying the needs of its customers?
2. Given that Warby Parker's original idea was to sell online to minimize distribution costs and keep prices low, they now have opened over 50 stores in 22 U.S. states. Do you agree with its more recent decision to open tradi- tional retail stores?
3. Imagine you wear eyeglasses and have just broken your last pair of glasses. Would you purchase glasses from Warby Parker's online store or go to a traditional retailer? Explain your answer.

Answer 1

Answered from a general business perspective.

Explanation:

1. The Warby Parker company is a U.S based enterprise that provides prescription eyeglasses to customers, by so doing they satisfy the reading and seeing needs of society.

2. Yes. It is relatively faster to complete a sale via traditional retail stores since these are closer to customers. For example, a customer who needs to replace their broken reading glasses can simply visit a physical retail store; and the problem is solved rather than going online to place an order that may take days to arrive.

3. Going to a traditional retailer seems to be the best option especially when it's located a few blocks from your home.