MG 495 Unit 6 Homework

Week 6 Assignment: Blue Nile, Inc. Executive Summary Blue Nile, Inc. is a nontraditional jewelry company founded in 1999 offering a simpler process in selecting an engagement ring, but still provide a premium customer experience. The company offers education, guidance, quality, and value that builds confidence with its customers. Serving both national and 40 international customers, who can make purchases in U.S. dollars as well as 22 foreign currencies. Synopsis of the Case Blue Nile, Inc. currently offers a simpler engagement ring purchasing process, “offering high quality diamonds and fine jewelry at outstanding prices” (Wheelan, Hunger, Hoffman, & Bamford, 2010, p. 10-2). The company’s current strategic direction is focused on creating a disruption to the diamond industry and become the premier jeweler in the industry. Wanting to establish strong relationships with the consumer, and capture a market share and maintain a strong competitive position. Market competition is from various retail stores, independently owned retailers, online retailers, catalogue retailers, television retailers, and discount superstores and wholesale clubs all with their own market share. Blue Nile, Inc. desires to change the company’s direction to explore global opportunities and to compete at the top of the market as a high end jewelry retailer. Relevant Factual Information about the Problem or Decision the Organization Faced Blue Nile, Inc. operates in the middle of a niche market segment. An online retailer but wanting to grow its market share however, there are competitors at the high end and low end of the market. Its business model includes intense competition from all direct and indirect retailers, which limits growth rate. Operating in the middle of the market and according to Porter, “t