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Blue Nile Essay

1004 words - 5 pages

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.
Blue Nile, Inc has been keeping at the lead of the pack even through the harder economic times, even though it has slipped a little since the products are more of a luxury item rather than a necessity. With competition gaining on Blue Nile they need to review practices and procedures and not get complacent with their standing in the field of expertise. Come up with ideas of expanding product line. Figure out what the next trend that parallels their business.
The competitive ...view middle of the document...

With in the jewelry industry, even though buyer switch costs are not always low, this would be the best fit with this company for the next 3-5 years.
Competitive forces Blue Nile faces in the fine jewelry market are product selection and quality; price; customer service and support; brand recognition; reputation; reliability and trust; and with online retailers, website features and functionality. The largest competitive forces that faced Blue Nile in the beginning were brand recognition, and still could hinder their success a bit today, if consumers are unaware of their strengths. These forces ...
2. What key factors will determine a company’s success in the online jewelry business in the next 3-5 years?
3. What is Blue Nile’s strategy? Which of the five 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?
4. What do you like and dislike about Blue Nile’s business model?
5. What does a SWOT analysis of Blue Nile reveal about the overall attractiveness of its situation?

6. What is your appraisal of Blue Nile’s financial performance based on the data in case Exhibit 5? How well is the company doing financially? Is there evidence that Blue Nile’s strategy is working—what is the story of the numbers in case Exhibit 4? Use the financial ratios in Table 4.1 of Chapter 4 as a guide in doing the calculations needed to arrive at an analysis-based answer to your assessment of Blue Nile’s recent financial performance.
7. Does Blue Nile have adequate competitive strength to go head-to-head against its...

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