Value-Based Selling Strategy in Vera Bradley Company

Value-Based Selling Strategy in Vera Bradley Company
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Value-Based Selling Strategy in Vera Bradley Company
Vera Bradley is an American corporation that designs ladies' handbags, luggage, fashion, travel equipment, and home accessories. The corporation operations are conducted through three different sections, namely VB direct, VB indirect, and Pura Vida. The VB direct section functions involve selling Vera Bradley products through the company's full-line outlets located in the United States (Vera Bradley, 2022). The company has 72 full-line stores and 75 outlet stores. On the flip side, the VB indirect section sells Vera Bradley goods to almost 2,000 field retail locations, national accounts, shopping malls, among other places (Reuters, 2017). The Pura Vida department operations are conducted on Pura Vida Websites and distribute branded goods to wholesaler traders. Vera Bradley is an invention brand for ladies, and its inspiration originated from the requirements of real women. Their proudest moments bring the women community together using their shared love of beauty.
Value-based strategy and its application to Vera Bradley
A value-based selling strategy is an essential strategy that adequately differentiates between the consumers and the purchasing power. It is a unique strategy since many companies fail due to poor selling strategy that renders the consumers less interested in company products. Statistically, 92% of the buyers focus on value proposition; thus, it would allow the company to record higher sales in the first sales cycle (Töytäri & Rajala, 2015). The strategy enables the businesses to choose the target customers efficiently and create a reliable relationship with the clients. Value-based strategy is also significant since it allows the customers to have adequate time and learn about the product composition, thus increasing their loyalty to the companies. However, some companies find it difficult to engage the clients making it difficult to retain them for a longer period. Therefore, Vera Bradley can adopt the strategy to maximize its sales and make the customers understand the product value. The strategy is effective since it addresses customer needs and makes decisions easy and effective.
Vera Bradley can connect with clients after incorporating the value-based selling strategy in its marketing activities. Generally, customers are looking for the best results, and the company should illustrate why the customers need them to achieve the results. The company needs to understand what value means to the customers and their enterprises before showing how the products add value to their activities. The value selling process starts with decision-making, leading to a successful selling operation. Vera Bradley should take four steps to successfully implement value-based selling in the company. First, the company should identify the opportunity. The customers should be the kind of people the company loves to work with. Also, the company should evaluate whether it can add value to the customer and the merit of the activity. Second, the company should discover what matters most to their clients and add value to their operations. It should locate individuals responsible for creating the value interested in the activities and implement the objectives.
Third, the company should value demonstration and clearly show that it can deliver more value to the customers than its competitors. The trial period is the perfect time to illustrate why the clients need the company. Lastly, the company should ensure it delivers the promised value to the customers and assess the results.
Value Selling Procedure
Assess Opportunity

Discover Value

Demonstrate Value

Value Delivery

Identify potential opportunity

Validate opportunities

Identify key people

Discovery procedure

Develop a proposal

Trial

negotiation

Win/lose close

Implementation and assessment

How can the company help?
Is it valuable?

Who does the company need to talk with?
What does the company need to understand?

How does the company prove its potential value?

How does the company deliver and assess its value?

The value-based approach is reliable to Vera Bradley based on the key advantages. However, the company must show their commitment to engaging the customers and focusing on a robust sales team that would successfully engage the customers. The major advantage of the value-based approach is higher performance based on sales and cooperation with the clients. It gives adequate time for the customers to consult the sales team, thus boosting sales and recording higher performance. Besides, it allows the customers to air their views and complaints appropriately, which would allow the sales team to intervene with them appropriately. The strategy is also advantageous since it focuses on a team with adequate marketing skills, which, when adequately employed, would result in effective customer education and engagement. Sales are primarily determined by the ability to convince the customers. The more the customers are convinced, the mor...