With the deep analysis of the above alternatives, it is suggested that the company must choose the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would make it possible for the business to not only present brand-new and innovative products in the market it would likewise reduce the high expenses on R&D under alternative 2 and increase the revenue margins. It would make it possible for the company to increase its share costs as well, as financiers want to invest more in business with significant R&D costs and increase in the overall worth of the business.
Action and implementation Strategy
Method can be implemented efficiently by establishing particular short-term along with long term strategies. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy Warby Parker Vision Of A Good Fashion Brand ought to carry out various activities to implement its NHW method efficiently. These activities are as follows;.
• Get the audit of its brand portfolio done, to analyze the core selling brands, which generate the majority of its revenue.
• Examine the existing target market along with the market segment which is not consist of in the company's circle.
• Examine the existing financial information to determine the amount that should be spent on the R&D and acquisitions.
• Analyze the potential investors and their nature, i.e. do they want long term advantages (capital gain), or the desire early profits (dividend). It would let the company to know that how much quantity must be spent on R&D.
Mid Term Plan (1-5 years)
• Get those organizations in which the business has prospective experience to deal with. Get most favorable organizations with a strong dedication to health, to build the customer's perceptions in the ideal instructions.
• Focus more on acquisitions than R&D to construct the base in the customer's mind about Warby Parker Vision Of A Good Fashion Brand values and vision and to prevent prospective danger of sunk expense.
Long Term Plan (1-10 years)
• Acquire organizations with health as well as taste aspect, as the base for the Warby Parker Vision Of A Good Fashion Brand as a business producing healthy items has actually been built under midterm plan and now the business could move towards taste aspect as well to comprehend the consumers, which focus more on taste instead of health.
• Be more aggressive towards R&D than the acquisitions, as it is the significant time to develop new items.
