Blue Nile Case
2) What key factors will determine a company’s success in the online jewelry business in the next 3-5 years?
For a company to be successful in the online jewelry business, they need to be reliable, have an excellent reputation, be trustworthy, have product selection, superior quality, along with support for its customers and products. A website that is easy to navigate, user friendly, web features that only that company provides and how quickly they can get the product to the consumer. Why Blue Nile diamonds is so successful is that is understands its customers. Blue Nile recognizes the diverse needs of its customers and strives to address these different jewelry needs by offering a wide variety of choices. Having a user friendly website is another reason why Blue Nile Diamonds is very successful in its business. The website has a unique feature “a wish list” button where a customer can mark their favorite pieces of jewelries while they continue browsing through the site. Running an online jewelry business is highly dependent upon other entities. There needs to be good relationships with the organizations that certify the diamonds. The customer needs a safe, comfortable environment in which to make high dollar purchases including a secure website payment feature. So customers can make informed decisions there needs to be educational material that can be easily available to the customer to help them make their decisions. And they must convince the customer that buying online is just like buying at your typical jewelry store you would walk into just with better prices. 3) What is Blue Nile’s Strategy? Which of the 5 generic competitive strategies discussed in chapter 5 most closely fit the competitive approach that Blue Nile is taking? What type of competitive advantage is Blue Nile trying to achieve?
Blue Nile strives to offer high quality diamonds and jewelry at competitive prices to encourage customers to shop at their online store. Blue Nile provides
For a company to be successful in the online jewelry business, they need to be reliable, have an excellent reputation, be trustworthy, have product selection, superior quality, along with support for its customers and products. A website that is easy to navigate, user friendly, web features that only that company provides and how quickly they can get the product to the consumer. Why Blue Nile diamonds is so successful is that is understands its customers. Blue Nile recognizes the diverse needs of its customers and strives to address these different jewelry needs by offering a wide variety of choices. Having a user friendly website is another reason why Blue Nile Diamonds is very successful in its business. The website has a unique feature “a wish list” button where a customer can mark their favorite pieces of jewelries while they continue browsing through the site. Running an online jewelry business is highly dependent upon other entities. There needs to be good relationships with the organizations that certify the diamonds. The customer needs a safe, comfortable environment in which to make high dollar purchases including a secure website payment feature. So customers can make informed decisions there needs to be educational material that can be easily available to the customer to help them make their decisions. And they must convince the customer that buying online is just like buying at your typical jewelry store you would walk into just with better prices. 3) What is Blue Nile’s Strategy? Which of the 5 generic competitive strategies discussed in chapter 5 most closely fit the competitive approach that Blue Nile is taking? What type of competitive advantage is Blue Nile trying to achieve?
Blue Nile strives to offer high quality diamonds and jewelry at competitive prices to encourage customers to shop at their online store. Blue Nile provides