Blue Nile Case Analysis

Introduction Blue Nile is a company that was founded in 1999 and has grown to be the largest jewelry retailer in the whole world. The company is listed on NASDAQ as NILE. The company is doing well in online retailing and was acknowledged with the BizRate.com circle of excellence platinum award as the best online retailer as recognized by the customers.Advertising We will write a custom case study sample on Blue Nile Case Analysis specifically for you for only $16.05 $11/page Learn More The company has entered into the international market in the UK and Canada. High percentages of its online retailing are wedding bands and engagement rings. The firm has strategies to increase the awareness of its products to its customers through advertising. The company is also able to provide educative information about its products. The company offers a variety of products therefore making it competitive in the market. Market Structure Any company has to evaluate and a nalyze its competitors to determine its market potential in the target market. This analysis must include the extent to which relevant information about the commodities and services of the company reaches the target market. The amount and the number of customers, and the size and the quantity of the produce are also the aspects of companies’ analysis of their competitors. Market competition enables the company to identify the needs and demands of the customers and helps to intensify the effort of the company to increase the quality of its products. The Blue Nile Company competition is from online and offline firms. Since the Blue Nile Company is the best online seller in the jewelry and diamond company, competitors have never been able to outcompete it. The main competitors of the Blue Nile Company are Zale, sterling, tiffany and Heklzer (E-Commerce Students, 2009). Most of online retailing competitors apply the Blue Nile strategy of buying from suppliers only when an order i s made by the customers. These online retail competitors include whiteflash.com, ice.com and JameAllen.com among others. The Blue Nile company website provided the customers with required information about the diamond and the jewelry. The company consultants are also trained to guide the customers on the steps in the process of buying appropriate items and shipping policies to be adhered to. Some of the competitors do not offer guidance services and have less return for non-customized orders. Therefore, the Blue Nile Company remains as the most competitive company in the market (E-Commerce Students, 2009).Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The company’s aim is to produce a large inventory of low prices and quality diamonds that match with the needs of the customers. The firm also aims at providing satisfactory information about its diamonds to potential customers t o raise awareness and add efficiency by introducing online retailing products. The company offers more than 60,000 different diamonds and styles of fine jewelry that includes the rings, necklaces, pendants, watches earrings and ranges from the simple classic to impressive signature of the finest diamond in the world. All diamonds differ in shapes and sizes offering a wide selection to the customers and giving the company a competitive edge among its competitors. Key Success Factors These factors are those that are essential for the business to attain its marketing strategy. These factors help in changing the behavior and the demand of products by customers. The Blue Nile company strategies of providing information about grading, shapes quality and prices of diamond jewelry is one of the factors that leads to the success of the company. Wide selection of products and affordable prices also attracts customers to buy the jewelry from Blue Nile (E-Commerce Students, 2009). Internal mark eting audit Mission statement The mission statement of the Blue Nile Company is to create an affordable efficient and effective way for customers to purchase diamond and fine jewelry online. The company also aims at providing a variety of high quality products at a great value, convenience and customization its customers. The company has made it possible its clients to access information about the diamond’s quality shape and texture easily by providing it in their website. Customers are able to customize the products and get their orders within three working days. The company gets feedback and questions from customers on their website therefore getting the best orders from their suppliers. Porter’s Five Forces Porter’s forces are the competitive forces that enable the company to identify its weaknesses and treats. They are the factors that lead to the increase or reduction of the profits of a company. Competition in the Industry The Blue Nile Company has faced g reat competition both locally and internationally. The competence of the industry has been increased by increased competition in the pricing of jewelry and production of information to customers. Completion in the jewelry industry is also fueled the ability of customers to choose products online.Advertising We will write a custom case study sample on Blue Nile Case Analysis specifically for you for only $16.05 $11/page Learn More It has made the company to incur some loss due to pressure to employ more trained consultants to guide consumers on the best products and the qualities of the products. The Blue Nile has intensified the process of creating awareness of their products to the customers through the advertising. This has led to the increase of the adverting cost of the company. Competitors of the Blue Nile Company offer the same services therefore reducing the company’s market potential to create profit (E-Commerce Students, 2009). Threat fr om New Entrance New companies entering the jewelry industry are the main threat to the Blue Nile Company. This is because they tend to offer the products at low prices in order to win the customers. The new companies operate at low costs that enable them to sell their products at low prices. However, new market entrants in the jewelry industry are not always able to make an impact on the sales of Blue Nile Company because they lack experience in the market. Threat of Substitute Product Low prices on rings, bracelets, necklaces and other jewelry sold by new companies in the market have caused some customers to shift from the Blue Nile Company to their companies. Although the effect has not been so big since more customers are raising up. Changes in the bargaining power of buyers and suppliers The buying behavior of customers has been changing due to the changes in the economy. The change of the behavior of consumers has also been influenced by the freedom they have to choose from the variety of jewelry and the awareness created by the company. The behavior of customers has made the company to increase the budgetary allocation. However, the cost of production for the Blue Nile has been increased due to the world economic change (Alkhafaji, 2003).Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Pestle Analysis Political Environment This involves the legislation, government and pressure groups that limit the activities of the company. The Blue Nile Company faced no restrictions on its entry in the local and the international market. However, it was affected by the high cost of entering into the UK market thereby reducing its potential in the global market (Alkhafaji, 2003). Nevertheless, the firm was able to raise $33.2 million in 2009. Technological Environment The level of technology in the jewelry markets enabled the Blue Nile Company to create a website where customers were able to get access to educative information about wedding rings and other jewelry. The technology also enables the Blue Nile Company to access information about competitors thereby changing their strategies to remain competitive in the market (E-Commerce Students, 2009). Economic Factors Due to the current recession in the economy, both companies and customers have reduced the habit of buying luxury goods. This is because of the uncertainty of the economic treats in the future. The changes in the economy have led to the increase in the cost of production of the jewelry product for the Blue Nile Company (Alkhafaji, 2003). Social Cultural Environment These are the institutions and other forces that affect the basic preferences of customer’s, values and behaviors. Consumer increased use of the internet may be termed as an achievement for the company since they are able to reach a wide range of the target market more efficient than when there were fewer customers using the internet. SWOT Analysis Strengths The company purchases the products as ordered by the customers and have only less than 200 employees. It sells the jewelries online and this allows reducing the operation cost which occurs with the selling the products physically. It also enables the company to charge 20% to 30% less than the other retailers therefore winning the competitive advantage over the competitors. The Blue Nile Company was the first one to offer the customization of the engagement rings and enabled the customers to choose the shape, color, size and clarity. The company is also able to ship the product to the customer within the 48 hours. The company was the first one to sell their products online and have information on the products being accessed easily by the customers (Alkhafaji, 2003). Weakness The online services do not allow the customers to touch or see the diamond they are buying. This makes the customers to risk in buying the products online. Customers therefore fear buying online and most of them tends to buy the diamond from the local retailers. The company still needs to do more customer awareness (E-commerce, 2009). Opportunities The Blue Nile Company offers products that are more attractive for women such as rings, bracelets, earrings and necklaces. They buy the products from the supplier’s only when there is an order made by the customers reducing the c ost of storage and the uncertainties of the customers refusing to buy the product. Threats Blue Nile has the threat of competition from the local stores who sells the product online. The company faces the greatest threat from Tiffany and Co. in the local stores and the online competitors for the company are diamond.com, ice.com and ashford.Com. Value Chain Analysis Primary Activities.  Inbound and Outbound Logistics Inbound logistics of the Blue Nile Company involve the activities of receiving the diamonds from the suppliers and storage before the goods are shipped to the customers. It also involves the jewelry that is sent back by the unsatisfied customers. The outbound logistics are the order processing of the commodities ordered by the customers. It also involves all the activities involved in the shipping of the product to the customer (E-Commerce Students, 2009). Other activities are operations that involve the production of jewelry. Supportive Services Firm’s Infrastr ucture The company’s organizational structure matters a lot in the success of the company. Inventory planning and measurement helps in the company’s performance. The Blue Nile Company is able to plan on the shipment of the orders to the customers within the 48 hrs, which gives the customers satisfaction, which they require. The unsatisfied customers are able to return the products within 30days of shipment. Procurement This involves the companies process of purchasing all the require material for the production of the final product. The Blue Nile purchase already finished product for their customers but they allow the customers to customize their products. Distinctive competence is what the company is able to do better than the competitors are. The Blue Nile company distinctive competence is its ability to retail online and being the first company to do so. Their shipping policies also offer the customers enough time to check whether the shipped commodity is in the qua lity they wanted and if not so, they can return the [products within the 30days of shipment (Alkhafaji, 2003). The core competence of the Blue Nile Company is its ability to train customers on the 5c’s characteristics of the diamond. The company’s website also provides easy to understand information about the products. Strategies Increase Entry in the Foreign Market The Blue Nile Company only operates in the U.S.A., Canada and the U.K. The company needs to establish itself more in the other international markets since it is the best online retailer of diamond in the world. The e-commerce is recognized in the whole world and the Blue Nile will not have problems with the establishment of their product in the local market. There is a great opportunity for the company in the international market, the benefits depend on the speed of its entry into the market (Alkhafaji, 2003). Increase Brand Recognition One of the marketing strategies is to increase the recognition of the b rand among the customers. Although the customers who already know the Blue Nile Company have proved to be loyal to the customer, the company has not achieved the needed awareness among all potential customers. The competitors have embraced the media advertising that increases their brand exposure. These companies are tiffany and Zale and they use the televisions and magazines among other types of media. Their customers online can access Blue Nile Company but a recent study have shown that very few people know about it. The company should be aimed at creating a long-term relationship with their customers. They should also focus on the customer experience on their products. However, the company has established the strategies of giving their adverts on the website when a customer is looking for any kind of product either the diamond or the jewelry. The company also needs to increase the customer base (E-Commerce Student, 2009). The Blue Nile Company should implement the strategy of inc reasing the customers’ awareness first before they intensify on the increase in the international market. By increasing the brand recognition, the company will get more return because they will also increase the awareness to the international customers in that the customers will be ready to buy their products once introduced to them. The Blue Nile Company should get the advertising agent that is known worldwide to do their advertising. If the company increases the marketing, it will be able to get 10% market share and this will win customers loyalty among its competitors (Alkhafaji, 2003). References Alkhafaji, A. (2003). Strategic management: Formulation, implementation, and control in a dynamic environment. London: Routledge. E-Commerce Students. (2009). Blue Nile Inc: Education, guidance, diamonds and fine jewelry. London: Rolf butz. 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MLA Referencing †Citing an Edited Book (Proofread My Paper)

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Alternative Therapy Assignment Example | Topics and Well Written Essays - 250 words

Alternative Therapy - Assignment Example In case of terminal illness in which promoting the further health of the patient is all but meaningless, the extent and degree to which such an alternative approach could maximize the utility of the patient is exponentially greater than that of the traditional treatment (Stanulović et al, 2013). It is not the purpose of this brief response to state the alternative treatments have their place alongside traditional treatments in each and every health issue and concern; rather, it is merely the intent of this author to point to the fact that there are many relevant areas of health in which alternative treatments can provide a needed benefit or even a complimentary benefit, if used in tandem with traditional treatments, to the end patient. Additionally, the factor of cost is oftentimes, but not always, lowers with respect to alternative treatments; yet another enticing prospect for their application with regards to many economic factors that constrain the patient (Alternative Measure s of Personal Saving,

Lion and the Jewel Essay Example | Topics and Well Written Essays - 500 words

Lion and the Jewel - Essay Example First, the play illustrates how African culture and western civilization differ when it comes to marriage and family life. In particular, Soyinka’s play shows how the two differ on matters of child bearing. In the play, Sidi represents the traditional African culture while Lakunle represents the western civilization. Lakunle does not view child bearing as an important aspect of marriage. In his words, he says that he is not after a wife â€Å"To bring forth children by the gross†¦.† (Soyinka, 9). Sidi reacts to this by saying to him: â€Å"Heaven forgive you!† (Soyinka, 9). Clearly, Soyinka shows that African and western cultures have differing views on child bearing. Secondly, the issue of bride price and its role is another area where the two clash. In the play, Sidi insists that Lakunle pays her bride price before marrying her. Failure to do this will make her a laughing stock. She tells him that she will marry him â€Å"But my bride-price must first be paid†¦Ã¢â‚¬  (Soyinka, 8). On the contrary, Lakunle, who embraces the western cultures, argues that paying bride price is an old custom, and terms it as â€Å"a savage custom, barbaric, out-dated † (Soyinka, 8). Lakunle is of the view that bride price is a humiliation to women and this amounts to buying women like commodities. Lakunle is thus left to choose between a traditional marriage where pride price is paid and a civilized one. Thirdly, Soyinka shows how the African society embraced polygamy, unlike the western culture where monogamy was the order of the day. In the play, Baroka, the king of Ilujinle, has many wives. Sadiku, the eldest wife, is in fact comfortable Baroka bringing in another wife. She woos Sidi to get married to Baroka, promising her that Baroka will not take another wife after her. Soyinka shows that unlike western cultures, polygamy is accepted in the African culture and is even supported by

The Basic Unit of Life Essay Example for Free

The Basic Unit of Life Essay One of the hallmark characteristics of living things is that they perform chemical reactions. These reactions are collectively known as metabolism. Cells, the basic units of life, can perform many of these metabolic reactions. In a multicelled organism, the cells group together to form tissues that perform the same functions. Tissues group together to form organs, and finally, several organs exist together in a system. In this lesson, we will see how and why this hierarchy is established. The Basic Unit of Life All organisms from the smallest single-celled protists to huge whales and giant redwood trees are based on tiny microscopic cells. The types and number of cells may vary, but the cell is the basic unit of life. The cell is the minimum amount of organized living matter complex enough to carry out the functions of life as outlined in Lessons 1 and 2. In the most basic sense, a cell is made of a gelatinous living substance we call protoplasm, which contains many small structures, all surrounded by a membrane. Cell Structure The cell membrane separates the living cell from the rest of the environment. However, this membrane is not just a static solid wall. It must allow food molecules and oxygen to enter and wastes to exit. Thus, the cell membrane is semipermeable because it allows some things to pass through, but not others. It must also communicate and associate with the membranes of other cells. Inside the cell membrane is a substance called protoplasm in which many tiny structures called organelles (because they act like small versions of organs) are suspended. Some of the more important organelles and their functions are listed in the following table

Genie: Social Isolation :: Free Essays

  Ã‚  Ã‚  Ã‚  Ã‚  This was one of the most interesting cases in my opinion, which we have so far learned about. It was amazing to me first of all how a person could go undetected in those conditions for that amount of time. It was also extremely mind boggling how people could treat their own child like that, which really made me wonder the type of morals and views that those parents were brought up with. It made me extremely sad to realize all of the wonders of life that Genie was deprived of. She had been locked in that room for over ten years, which means she was practically nonexistent to the world, and had never experienced things we all take for granted every day. I truly do not know how she survived in that type of torturous confinement for ten years. However, it was encouraging to see the efforts of all the people who truly became wrapped up in Genie’s case, and the hope that she would have a learning capacity. It was amazing to me to know that she was really a fourt een year old girl, yet to hear her speak she sounded like a toddler. I found it interesting to see her progress from knowing no English words, to being fascinated by the labeling with words of all the new objects around her. It seemed to me as if she knew a language existed for everything, but was frustrated because she could not realize her goal and put words to objects quickly enough. I found it interesting to see Genie pick up the patterns of language recognition, but not commonly as it happens in children, however, it seemed as though you were teaching an old dog new tricks. I was disappointed at the ending of the film, because for me there was no good conclusion, or happy fairy tale ending that I expected.

Children relationship with adults

By considering children age groups and cultural differences, I shall explore the various approaches taken to building relationships with adults at different stages and discuss the influences and effects it has on a child's development. I will also demonstrate the ways in which understanding children's development contributes to building positive and successful relationships. Children have emotional needs and are able to express and communicate them from birth. As research has shown â€Å"In order to have a secure base from which to explore the world, be resilient to stress, and form meaningful relationships with adults, babies need a primary adult who cares for them in sensitive ways and who perceives, make sense of the responds to their needs†. This attentiveness approach of interaction in a child's early stages of development forms a bond of trust, promoting confidence and self-esteem within the child, which would contribute in building meaningful relationships with adults around him/her. (from http://www.helpguide.org/mental/parenting_bonding_reactive_attachment_disorder.m) However, different circumstances and experiences do not always allow adults to respond to the child's needs accordingly, which can have a huge influence on a relationship. For example, Charlotte had a traumatic start in life as a consequence of her parent's separation shortly after her birth. She was frequently moved between the two parents and lacked the appropriate care and attention she needed in order to form a secure bond. Her parent's â€Å"were too busy fighting and arguing†¦..to worry about the children,† Charlotte's mother, Emma, recalls. Emma also assumed and hoped that Charlotte â€Å"won't remember that far back†¦.because she was too young†, which indicates Emma's limited knowledge and understanding of child development. As the relationship between Emma and Charlotte was unpredictable, inconsistent and unstable, it resulted in Charlotte feeling very insecure and uncertain of her mother's love. As we learn from ‘The Strange Situation Test' (Understanding Children (2007) DVD Band 2) and by the age of two, Emma describes their relationship as â€Å"a constant battle of wills†. Young children are subject to constant and inevitable changes, which would influence their development. For instance, the transaction of children into the reception class in school is a major change, where the expectations and values they gained at home are challenged (Rai and Flynn 2004, p.86). This can have a negative affect on a relationship between a child and his carer, where the child is struggling to adjust to its new surroundings and his/hers behaviour becoming challenging, since many children become unsettled when starting school. (Rai and Flynn 2004, p.63). As young children at this stage of development have limited experiences, talking about their feelings, their fears and concerns can come out in ways that can be misunderstood and misinterpreted by the adult as misbehaving. For example, Ryan's reluctance to keep to a specific bedtime caused problems in the relationship with his parents. During the parent strategies exploration of responses to deal with the child's difficulty, Jodie and Eamon's approaches to the ‘problem' were different. Initially they inflicted power over Ryan by threatening to smack him, shouting and punishing him, which resulted in a conflict in their relationship. On seeking advice, they discovered a more collaborative approach, such as spending special time with Ryan before bedtime. By doing so, it promoted his confidence and encouraged him to express his feelings, which enabled Jodie to have a better understanding of Ryan's thinking process. This account demonstrates the significance of experiences that occur in a child's life, which should not be underestimated by the adult. It also shows, that in order to resolve family conflict it is best to have a direct and open communication where young children are concerned, which helps in achieving a successful relationship. (Rai and Flynn 2004, p.84-85) As with the parents, schools also have a responsibility to deal with children's emotional welfare, as well as their physical health and are encouraged to do so by using activities, which enable children to understand their own feelings and by building their confidence to learn, such as ‘circle time'. (Rai and Flynn 2004, p.105 {DfEE, 1999, p.16}) This approach focuses on the children themselves, contributing to their self-esteem through development of their listening, speaking and co-operation skills. By using this activity the children's relationship with their teacher is built on trust and respect. (Rai and Flynn 2004, p.106) As children grow and become young people, they are expected to take on more responsibilities at home as well as spend more time on schoolwork. Involving children with different chores around the household would help them gain independency by developing a range of skills. Activities' such as, cooking, cleaning, shopping and even looking after other members of the family, helps children develop their communication, intellectual, self-help and practical skills. (Rai and Flynn 2004, p.144) In considering cultural differences, South Asian children are also expected to contribute to the family economy, which helps to develop their business skills. For instance, Sammy is expected to help out in the family take-away business and accepts this as part of her cultural up bringing. (Rai and Flynn 2004, p.137). Furthermore, in societies where the main concern of the family is survival due to poverty, children work alongside adults by necessity (Rai and Flynn 2004, p.65) as we can learn from Bilkis's and Tinco's daily lives. (Understanding Children {2007} DVD band 6) However, with these great expectations of expanding children's responsibilities, parents are still reluctant to involve children with matters that affect their lives due to their limited life experiences. (Rai and Flynn 2004, p.116-117) Nevertheless, studies have shown that by this age, children understand and accept the complexities of family life and want to be part of this, by being consulted and want to participate in decisions making. (Rai and Flynn 2004, p.133). Therefore, in order to maintain a successful relationship, it is crucial for adults to understand children's needs as well as their responsibilities by maintaining an open communication and not taking children's contributions to family life for granted. Conclusion Building successful relationships with children is a complex process. It requires patience and attentive care by adults from infancy through to adulthood. By understanding normal child development, it enables the adult to respond to the child's need positively and establish a secure attachment. Furthermore, as children are subjected to constant changes, their adjustment to these changes is determined by understanding, the expectation and approaches of the adult, in order for the child to deal and respond positively. To achieve this, adults must maintain open and consistent communication, which will contribute to the child's confidence and self-esteem where they will feel valued and important members of society. Therefore, to achieve successful relationships with children, it is crucial for caretakers to have an understanding of child development. Word count: 1,144 Task 2 Since I started this course, I feel that my organisational and efficiency skills have improved through learning to work under pressure and to a deadline in producing and submitting an assignment. I must say that during this course, the concept and understanding of academic studies, such as writing and structure of an essay, was a real eye opener for me, as in my past studies where children are concerned, my written evidence findings were based on own practice and personal experiences. The strengths of my study skills are in understanding the written materials. Being a single mother, I not only relate to the course subject ,but I have also gained positive and negative feedback from my own experiences in raising two young boys from the given information, as I am essentially living and practising it. With the help of my tutor's written and telephone feedback, my academic writing skills have improved considerably from the first to the second essay. However, I feel I have only touched the surface and still find it difficult to gather and select relevant evidence to back up my work, which I consider to be my weakness. In order to make further improvements, I would like to continue to undertake further relevant academic courses and develop my confidence with writing skills, as it is said, ‘practice makes perfect!'.