the competitive forces confronting Blue Nile and other online jewelers? Which one of the five competitive forces is the strongest? Do five-forces analysis to support your answer. * Threat of new competition: Barrier to entry is moderate due to high capital requirements for technology and software application needs to ensure a customer/user friendly online purchasing experience. But I believe this will be offset by the industry profitability attractiveness to new competitors. Currently within
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1. 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. The companies that are competing in this industry are Blue Nile‚ Zales‚ Tiffany ’s‚ Online Jewelry Stores (Diamonds.com‚ etc…)‚ and Local Jewelers. The Rivalry among the competing sellers is strong because there are many competitors and they are basically offering the same product. Also‚ the
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Blue Nile‚ Inc. “Stuck in the middle” of the diamond engagement ring market Vision and Mission “Blue Nile’s vision is to educate its customer base so that customers can make an informed‚ confident decision no matter what event they are celebrating. It wants to make the entire diamond-buying process easy and hassle-free. In addition‚ an important part of Blue Nile’s vision as CEO Diane Irvine said in a recent webinar with Kaihan Krippendorf‚ is for the company to be seen as the “smart”
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Blue Nile Inc.; Case Analyst Blue Nile was founded in 1999 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‚ Canada and the United Kingdom Websites. The Company is public traded on the NASDAQ stock exchange and has received several rewards for its service price
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Question 1. What are some key factors in diamond retailing? How do Blue Nile‚ Zales‚ and Tiffany compare on those dimensions? All the companies involved in the diamond market want to have a big share of that market. And‚ the bigger the share‚ the company makes bigger revenue. It is very interesting that all three companies (even though they are in the same ‘business’) have different approaches in ‘taking market share’. An important fact is that the companies have a different clientele. The
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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
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The spreadsheet I did presents a summary of Blue Nile financial results from 2005 to 2009. From 2005 to 2007 revenues and net income both increased. The deep recession which began in late 2007 seriously affected the revenue in 2008. And then in 2009 the revenue recovered and increased slightly. I am going to analysis the financial performance in three parts. First‚ profitability ratios. Blue Nile had steady return on asset ratios around .1. The company utilized its assets very efficiently and
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Blue Nile 5 Forces Moderate threat of new entrants Low bargaining power of suppliers High bargaining power of consumers Low threat of substitute products Intense rivalry-competes with not only online retailers‚ but also stores PEST D Political/legal- Economic- Sociocultural o better perception of online shopping‚ easy‚ non-intimidating shopping for men‚ people want things really quickly and jewelry stores take forever bc they don’t do
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Case 7 Blue Nile inc. Discussion questions 1. The diamond and fine jewelry industry was very competitive. Market share was divided between locally owned brick and mortar stores‚ retail chains‚ big box stores like Costco and online retailers. Which made The rivalry between competing sellers the strongest of the competitive forces in the industry. Buyer bargaining power: very strong Strengths -Buyers incur a low cost of switching (they can purchase jewelery anywhere with no cost. -Buyers are
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one of the world’s leading markets. Blue Nile was considered the largest online jeweler. Sanjay and Amy Bhargave were on the market for an engagement ring. After their disappointing experience of shopping for a ring in New York City and in the local jewelers in their hometown‚ one of Sanjay’s clients suggested for the couple to visit Blue Nile’s website. After the great length Sanjay subjected himself to the diamond purchase process and with the help of Blue Nile’s diamond consultant‚ he finally
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