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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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
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jewelry retailers have a feature for shoppers | | |to customize orders | |Increasing globalization |Blue Nile has 40 international markets where 35 of them can make their purchases in local | | |currency (p185) | |
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Blue Nile Case Study 1. How strong are the competitive forces confronting Blue Nile and other online retail jewelers? Do a five-force analysis to support your answer. The competition among the competing sellers in the industry is strong. Competitors for Blue Nile not only include the online jewelry sellers such as Diamonds.com‚ Whiteflash.com‚ Ice.com and JamesAllen.com‚ but also include brick-and-mortar jewelers‚ chain department stores‚ mass merchants‚ local jewelry shop‚ and large jewelry
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Blue Nile Inc. in 2010: Will Its Strategy to Remain Number One in Online Diamond Retailing Work? 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 five-forces analysis to support your answer. The competitive forces are intense as there are several online and offline jewelry retailers and there has been a decline in sales due to the economic recession. Many online and physical stores
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BUAD 441 – Individual Case Study1 Blue Nile‚ Inc. – World’s Largest Online Diamond Retailer 1. Looking into the future‚ the cost of products‚ a well executed customer service along with information about products‚ web platforms‚ lean operating‚ fast delivery time and reliability will be key factors in determining a company’s success in the online jewelry industry. Consumers want the best quality product at the best price and as fast as possible. In today’s society consumers are educated enough
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Blue Nile Case Questions 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 competitive forces that are confronting Bule Nile and other online retail jewelers are strong. The threat of new entrants is high because the brick-and-mortar stores have a low cost of entry into the online retail of their jewelry. The threat of substitutes is
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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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1. What are some key success factors in diamond retailing? How do Blue Nile‚ Zales‚ and Tiffany compare on those dimensions? Key drivers of customer purchases in diamond retailing include quality and range of products offered‚ reputation‚ professional advice offered‚ and customer perception and emotional bonds‚ including a positive buying experience and customer service. Success is also dependent upon obtaining economies of scale through such avenues as preferential access to resources‚ an
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Ashesi University College Competitive Strategy Course Code: BUSA 405 Semester One: 2010/2011 Marking Scheme Mid Semester Exams Lecturers: Anthony Ebow Spio and Robert Ahomka-Lindsay Section A (40 Marks) Provide Short and concise answers 1 Explain the term sustainable competitive advantage and why it is so important to a winning business strategy. (5 marks) Suggested Answer A company achieves sustainable competitive advantage when an attractive number or buyers prefer its products/services
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