Blue Nile Case Essay Example for Free

Blue Nile Case Essay Blue Nile has grown into one of the largest jewelry retailers in the United States with only using the Internet as its distribution channel. The success is a direct result of a well-crafted business strategy that attracts high price customers and provides them with in-depth education about diamonds and jewelry. Gamble, Peteraf, Strickland III, and Thompson (2012), indicated that the company’s strategy provides customers with high quality diamonds, exceptional customer service and low prices (p. c-128). They pride themselves on their selection and outstanding education that they provide to consumers looking for the perfect diamond. In addition they have received various awards and recognition from Forbes and Bizrate.com (Thompson, Peteraf, Gamble, & Strickland, 2012, p. C-127). Blue Nile has found a niche in which to differentiate itself by creating an online marketplace for jewelry shopping and with low operating costs which makes them extremely competitive. In viewing Blue Niles website, one can see that they have a vast amount of for potential buyers, that which determine a diamond’s value- carat, clarity, color, cut, and cut grade. The company has a user friendly site that present a lot of diamonds styles to choose from with the 5C’s of diamond selection which are cut shape, cut, color, clarity and carat weight. Their price is much lower than others. Blue Niles also prides themselves on their selection and outstanding education that they provide to consumers looking for the perfect diamond (Thompson, Peteraf, Gamble, & Strickland, 2012, p. C-127). Blue Nile competes in a small area with a specialty offering. Brand awareness remains a constant source of weakness for the company. Blue Nile, Inc. needs to increase their advertising campaign to attract new and retain old customers. Blue Nile needs to create a strong brand awareness that will allow can compete with Tiffany and Co. Blue Nile, Inc. recently opened warehouses in Canada and Britain, but has limited globalization to sales of 40 nations. Blue Nile will need global growth into the European market could prove to be a financial success. Through the operating capital calculations it indicates that Blue Niles strategy is needs some adjustments in the current market space. From 2005 to 2009 the cash that has been available for the firm’s day-to-day operations has dropped dramatically. There was an estimated $58.8 billion in sales in the United States alone in 2009 (Thompson, 2012, p. C-127). With Blue Nile taking $302 million in sales in 2009, they had a great year but in reality only maintain a less than 1% of the market industry hold. This suggests that there is room for growth in this are. With steady profits for the past two years, 2011 has been the best year even though the 4th quarter resulted in small loss. The company profits are 2011 – $348 million, 2010 – $332.9 million, 2009 – $302.1 million, and in 2008 – $295.3 million be (Blue Nile, 2012, Investor Relations). Blue Nile, Inc. 2011 Annual Report (2012). Blue Nile, Inc. (online). r posting and I enjoyed reading it also. In reviewing the financials and the Internet site, it is apparent that Blue Nile spends a lot of money in the area that has no direct impact on generating profit. Blue Nile is now pursuing a new market consisting of non-engagement jewelry by offering an expanded range of products across several price points. This market should offer a great amount of growth opportunities for now and the future. All in all the brand and name recognition is the key aspect that the must pay attention to. Your post was very insightful. A main issue for Blue Nile is the lack of exposure through the their advertising. Blue Nile offers the best prices while still being able to create a profit. The low operations cost of the business enables them to offer low prices and still make a profit. On the other hand the lack of store front exposure creates a problem for gaining additional clients. By adding new products they can create there reach and drive more revenue. Blue Nile Case. (2016, Dec 31).

Formal Business Report Term Paper Example | Topics and Well Written Essays - 1500 words

Formal Business Report - Term Paper Example Apparently, many customers have revealed that they currently rely on online marketing. Furthermore, the report has explained why Yellow Pages are, also, not cost-effective compared to its online counterparts. At the end of the report, there are some recommendations, which we hope will be of much worth in your esteemed company. Regards [Name] Outline: Executive summary Introduction Purpose of the study Scope of the study Sources and methods Results of the survey Conclusion and Recommendation Works Cited Executive summary This study is about Glass & Mirror’s Yellow Pages campaign, which is considered an ineffective marketing campaign. Essentially, the purpose of the study is to gather evidence to show why this method of campaign in not effective. The company, which is owned by Michelle DiFeo, operates within New York’s Westchester County and has relied on the Yellow Pages for marketing since 2004, thereby ignoring other options of advertisement that are being adopted by m any companies nowadays especially in the wake of the internet explosion. The study is conducted by issuing questionnaires to a sample of 50 potential customers from the New York’s Westchester County. The results of the study have largely shown that the Yellow Pages are becoming obsolete as it is quickly being taken over by online marketing. In view of these results, the president of Glass & Mirror is recommended to adopt online marketing and to focus on building the company’s brand name. DiFeo Glass & Mirror Water Yellow Pages campaign Introduction DiFeo Glass & Mirror is a wholesale and retail company owned by Michelle DiFeo, located in New York’s Westchester County. The company has used Yellow pages for advertisement campaigns since 2004 and, hence, has continued to ignore other campaign options such as the internet, which have taken the center stage in the advertisement industry. DiFeo has admitted that use of the Yellow Pages is ‘a force of habitâ€⠄¢ which is worth her investment, but it is clear that she has spent a staggering amount on them - this study will reveal how this expenditure could be ineffective (Stamoulis 4). DiFeo Glass & Mirror has used Yellow Page advertising as one of its best option for product promoting. In New York’s Westchester County, which is the DiFeo Glass & Mirror’s service area, there are tens of phone books. This means that DiFeo Glass & Mirror has to advertise in a multiple phonebook in order to reach many of those who need its services. As a result, DiFeo Glass & Mirror spends thousands of dollars on Yellow Pages campaign. In this study, this campaign is considered absolutely ineffective. Some of the reasons cited for causing Yellow Pages ineffectiveness include the fact that customers are quickly turning to online advertisements, the cost of a Yellow Pages supersedes its benefit, and because the administration of the Yellow Pages is extremely complex (Stamoulis 5). When estimating the benefits of Yellow pages, measurements such as cost per call, monthly calls per phone book and cost per sale are used. A company cannot achieve the utmost results if this information is not available. If the company relies on the sales representative to get recommendations regarding Yellow Pages advertisements,

Personal Philosophy of Nursing Statement Example | Topics and Well Written Essays - 1000 words

Philosophy of Nursing - Personal Statement Example In addition, I hope to be of positive impact to the discipline by ensuring that I have good relationships with my colleagues and the community as a whole. My nursing philosophy is influenced by the legal and ethical responsibilities of a nurse towards their patients. In my belief, nurses should promote and protect the safety, health, and privileges of the patient. Every patient deserves to be given quality care irrespective of their culture, religion, race, age, and socio-economic status, among other differentiating factors (American Nurses Association, 2001). It is, therefore, my vow to guard the ethical codes for nurses, which require confidentiality and the provision of quality and safe care. In addition, being ethical in my opinion, means that I should respect the personal beliefs of my clients even if those beliefs conflict with my personal views. For example, patients may refuse to take medicine based on their religious beliefs, thus leaving me in a dilemma on what course of action to take since I know that they will not get better without the medication. In such I dilemma, I would be required to find a solution in which I would meet the patient’s need while also not compromising my beliefs thus maintain ethicality. Care and compassion are some of the greatest attributes that a nurse could have, and show to their patients. Nursing is not only concerned with the physical health of patients but also their emotional and spiritual needs. According to Chitty & Black (2007) health is a holistic entity that involves physical, emotional, physiological, spiritual, and social facets of human life. Therefore, I hope to help my patients manage the emotional stress that comes with illness, and if it is within my capacity, help them find spiritual peace as well, to enable them cope with their situation. In terms of the personal beliefs that influence my nursing practice, I strive