Blue Nile Inc. in 2010: Case Study Zachary Williams Missouri Southern State University MM452-Strategic Management Dr. Moos February 23‚ 2015 Table of Contents Competitive Forces confronting Blue Nile and other online retail jewelers 3 Key Factors to a Company’s Success in the Market 4 Blue Nile’s Strategy
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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
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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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1. How strong are 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
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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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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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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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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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1. How strong are the competitive forces confronting Blue Nile and other online retail jewelers? Do a five-forces analysis to support your answer. If you were to forecast the future‚ what would this analysis look like in 10 years? Potential entrants: Major online retailers‚ major jewelers‚ Village Silversmith Current Competitors: Ice.com‚ Gemvara‚ Diamond.com‚ Jamesallen.com‚ Astley Clarke Substitutes: Smaller/local Jewelry stores Buyers: Couples to be engaged Suppliers: Diamond mines‚ precious
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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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