The Blue Nile is any way one of the successful companies of its category, has strength in its business strategies, that made the organization advance from its marketing. But the company also faces several downs like the issues and threats being an international firm and has several competitors of the online industry.
The supply chain is one that bypasses the traditional wholesalers and brokers who would drive the costs higher. This satisfaction of receiving high quality diamonds in their home as that of jewelry shops.
The primary strategy attained by the Blue Nile is by two methods, providing free shipping and delivery insurance for the customers, this online ordering has made customers a positive approach towards the company.
Antony Allen, the customers have reduced risk as they have insurance and the Blue Nile provides the customers quality diamonds to their home. This market segment that Blue Nile has capitalizing on regularly was the same that was badly affected by the economic recession in the recent global recession.
The company prided in being the one that provided bets engagement rings that were certified and graded from reputable laboratories. There are several features and quality services unlike other companies, which is key features of its own like the shipping policy, return policy, option for customization and 30 days return back, it has provided customer satisfaction in all aspect and has good reputation.
So, the information attained through description is more useful for Case 4 blue nile inc customers than from a sales clerk. The organization provides more exciting feature to its customers which makes the company unique from their competitive companies, the company has features like 30 days return policy, professional evaluation, insurance policy, and grading reports of diamonds.
The competition is getting stiffer due to the flooding of more firms into the trend of marketing through the internet. Hopkins, the most admired feature is the build your own feature provided by the website and is recognized as one of the famous features that increase the class experience of the online shopping.
This is on the background of the fact that many of the diamonds sold in the U. By providing all the customizing freedom to the customers which has made the Blue Nile management successful in managing customer as a part of designing ring.
How can Blue Nile grow internationally if the Internet is not always available? Another suggestion is the offering of education virtual school for international students which is a service as well as business which have a huge scope and should be taken into consideration.
This is in light of the high quality that they offer, the wide range they present in their display, the custom making option that they have, the pricing strategy the suits the market and the products, the brand recognition, the customer support strategies, reputation, reliability, the trust they have cultivated among the clients, all these work for the company to make it still a profitable company.
Indeed much of the competitiveness that Blue Nile had was dependent on the negotiated and maintaining the favorable relationship with the many suppliers, hence reducing the dependence on one supplier for its merchandise. Five forces analysis New entrants and competition The threat of new entrants into the same market niche that Blue Nile deals with is high with the onset of many outlets getting into the internet marketing and sales.
At present, the Blue Nile website provides a platform for the professional level education in the diamond. Of late, there has been a largely restricted trend in the movement of diamond particularly from countries in Africa and other developing nations.
Blue Nile is an international diamond trading company and has business over many countries therefore, the company also has international risks. This company gave Blue Nile a challenging strategy when they allowed clients to swap their Whiteflash rocks for any higher valued one at any time, only having to pay for the difference in price, something that Blue Nile had not been doing.
Additionally, each product has descriptions provided which makes the customers more informative about the product and while comparing with the knowledge and information provided by an average salesman, the descriptions provided through online is more advantageous and useful.
The company was established, as there was a history of unpleasant shopping experience of an engagement ring. Substitute products Diamond, being one of the most expensive gems in the market, is bound to have several other substitutes for those who are not able to meet the cost of the grade of diamond that Blue Nile specializes in.1.
Five Competitive Forces (Cuong) How strong are the competitive forces confronting Blue Nile and other online retail jewelers? Which one of the five competitive forces is the strongest? Do a five-forces analysis to support your answer.
TÀI LI U 1: Ệ Which one of the five competitive forces is the strongest? jewelers are very intense and competitive because online jewelers are very %(5).
Blue Nile Inc.; Case Analyst Blue Nile was founded in and today, it is one of the largest online retailers of diamonds. In addition to selling diamonds, it also offers platinum, gold, peral, and sterling silver jewelry. It is headquartered in Seattle, Washington and it operates in 25 countries, offering products through its United States.
Blue Nile Inc. Strategy Blue Nile Inc. Strategy Introduction Inthe U.S. jewelry and watch market was 42% of the worldwide market, which was estimated to be as much as $ billion. Industry revenues had grown % annually for the 20 years prior to the recession in Blue Nile Inc.
analysis This company was founded in and went public in Blue Nile has been dealing in fine jewelry and certified diamond. Blue Nile, Inc.
is an online retailer of diamonds and jewelry, with a particular focus on necklaces, pendants and bracelets. In the case of fine jewelry, unlike most diamonds that Blue Nile sells, the company takes products into inventory before they are ordered by customers.
The fine jewelry and watches are purchased from over Dec 31, · 2 Market Size, Growth Rate, and Industry Life Cycle. According to research provided by Thompson, author of the Blue Nile case, injewelry in the United States was an estimated $ billion industry as annual sales of diamond.Download