Marketing Analysis: Blue Nile Inc Essay
Each industry is subject to factors that affects their performance and competitive position in the marketplace. It can be said that a company is also guided by its mission, vision and objectives. Primarily, the goal of this paper is to analyse Blue Nile Inc in terms of its mission statement, outsourcing and organizational structure. Overview of the Company Blue Nile Inc is an online retailer of fine jewelries and diamonds and operates in United Kingdom, United States and Canada. The company offers jewelries made of gold, platinum, pearl and also sterling jewelries and accessories.
the company also have fine jewelry assortment which consists of settings, earrings, wedding bands, pendants and necklaces, watches and bracelets. The brand of the company is Blue Nile and their products are available at their website. Mission Statement The mission of the company is to establish premier specialty retailer of jewelry by providing their target market high quality products at compelling values with an empowering shopping experience embedded with their online retailing strategies. This means that the company aims on providing high quality jewelries for their clients by adhering to their company values.
The company aims on achieving their mission with integrity and honesty. In addition, their mission
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Perhaps, the most common reason is the need for expertise to do the job efficiently or not having enough staff to work for a specific business projects. Like any other company, Blue Nile Inc is also considering outsourcing approach as part of their business strategy. Accordingly, the company is already outsourcing the ad spending to a specialist industry. the company outsources advertising agency to increase their traffic in the online market. The industry believes that online advertising makes much more significance than offline advertisements, specifically in enhancing the traffic of their website (Bolan, 2007).
Organizational Structure of the company The organizational structure of the company is headed by the executive chairman and Chairman of the board followed by their CEO. The company utilized vertical integration from top to bottom and each member of the structure has their function to contribute to the performance of the industry. the organizational structure of the company has been able to institutionalizes how employees in the company interact with each other, the flow of communications, and how power relationships are being defined in the industry (Prasad, Tata and Thorn, 1999).
It can also be said that the organizational structure of Blue Nile also reflects the value-based choices made by the industry. The tasks are divided into different department including IT department to ensure that everything is monitored by the management. Conclusion Based on the analysis, Blue Nile has been referred as the largest online retail industry with good competitive position because of the values it provides to their clients through their mission statement and the efficiency with regards to their organizational structure.
Reference Bolan, B (2007), Blue Nile: Short Term Concerns Will Ultimately Give Way To Long Term Growth. Online available at http://seekingalpha. com/article/26361-blue-nile-short-term-concerns-will-ultimately-give-way-to-long-term-growth. Retrieve March 4, 2009. Prasad, S, Tata, J and Thorn, R 1999) The Influence Of Organizational Structure On The Effectiveness Of TQM Programs. Journal of Managerial Issues, Vol. 11.