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Blue Nile Inc - Essay Example

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Although it does not have physical stores, the company has been in the market and is now recording a progressive development. However, there exist a lot of challenges that require the management to come up with…
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Blue Nile Inc
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Extract of sample "Blue Nile Inc"

Lecturer Blue Nile Inc. Blue Nile Inc is a company which deals in diamonds and jewelry. Although it does not have physical stores, the company has been in the market and is now recording a progressive development. However, there exist a lot of challenges that require the management to come up with well-thought, appropriate and viable strategies in order to enjoy a larger share of the market.
Question 7
According to the company’s past records, it is undoubtedly clear that it has adequate competitive strength. Although it is not the only player in the market, its performance demonstrates that it has higher chances of becoming so competitive in the market. However, I would like to point out that it has produced very outstanding financial records as was proved by its balance sheet and cash flow. Besides, it has resorted to offering high quality diamond and jewelry products to its clients. This has been coupled with the provision of more competitive services. This is a good strategy which might enable the company to win the confidence of its clients as they seek to consider it as the company of choice amongst its competitors.
The other indication for the company’s competitiveness is based on the fact that it has resorted to offering its shoppers with adequate information and guidance when conducting their purchases. This has made it possible for them to get the right information on what to acquire (Gomez-Mejia et al, 128). It is for this reason that the company has had a powerful competitive strength assessment. According to the assessment, the company has realized a high level of manufacturing, customer service, distribution, product innovation and quality production capabilities. Thus, it generated an overall weighted strength rating of 5.59. This is outstanding.
Question 8
The top management of Blue Nile Inc should consider the following strategic issues:
i. It should stop relying on virtual platform. Meaning, it should consider having physical stores distributed at different geographical locations.
ii. The company should consider counteracting the stiff competition from established firms who have conquered online diamond and jewelry business. This will increase its chances of enjoying a larger share of the online market.
iii. The company should consider extending its services to the international market. Meaning, it should not only restrict its operations within the country, but expand beyond the national borders.
Question 9
In order for this company to prosper, its management should consider implementing the following recommendations:
i. It should establish physical stores in which the shoppers can get access of its variety of commodities which are supplied to them. This will be a good idea for the company as it will make it possible for the company to be efficient and reliable in its supply.
ii. The company should heavily invest on sales promotions. Meaning, it should advertize its services to all its target clients. Thus, they will get information about the existence, uses, benefits and quality of the products it deals in (Gomez-Mejia et al, 222).
iii. It should offer high quality services to all its clients. However, more should be offered to the return clients who need to be given after sale services in order to stick with the company.
iv. The company should consider extending its operations in many countries. By becoming international, it will increase its market coverage, economies of scale and competitive advantage.
Works Cited
Gomez-Mejia, Luis R. et al. Management: People, Performance, Change, 3rd edition. New York, New York USA: McGraw-Hill, 2008. Print. Read More
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