Jewelryworld.com case

1.

Before appraising favorable/unfavorable factors to the development of Jewellworld.com’s B2B platform, we should realize what this movement might bring first. Needless to say, there were a lot of noticeable advantages of developing the B2B platform. To begin with, by bringing buyers and sellers together, one were allowed to meet potential business partners, gather business contacts, look at products and designs, and even place orders through the B2B platform. Among which, one of the most important functions of Jewellworld.com’s B2B platform was the shopping basket which not only enabled sellers to showcase their products to buyers online but also allowed buyers to contact sellers through the information provided on the B2B platform or even to place their orders online. In addition, the platform also provided additional web-based functions such as a chat room, a message board, web mail and recruitment news.

Due to products’ maturity and standardization, it was not inconceivable for buyers to make the purchase decision online without seeing the actual product anymore as long as good quality digital pictures and supporting product information are provided. The key point of favorable factors to the development of Jewellworld.com’s B2B platform given above is easy to make sense, but on the other hand, there were also unfavorable factors to the development of Jewellworld.com’s B2B platform.

At the beginning, the jewellery in Hong Kong was so traditional that only few members took advantage of Jewellworld.com’s B2B platform. Some had never had a computer until they joined Jewellworld.com. To overcome the obstacle, Jewellworld.com found ways to encourage its costomer base to use its service, for example, they had been providing training support on how to use computers and the B2B services through various means.

2.

The competitive advantages of Jewellworld.com are basically on the innovation side. They were the innovator of this kind of platform for jewelry industry and they can base on their physical jewelry shop to provide their resources. In our opinion, jewelryworld.com can survive and prosper by their services provided to their customers with helping them to set up their online business. Because of the switching cost of change from one online platform to another is considerably high and not necessary. We think that these advantages can be leveraged because once their customers adopted the online services, they will get more and more rely on other service or platform Jewelryworld.com provided. Jewelryworld.com can be more and more trustful to their customer and thus attract more business to cooperate with Jewelryworld.com.

3.

First of all, we suggest Jewellworld.com consider to cooperate with other related

corporation to increase its brand image and exposure. In modern society, It seem

s that jewelry is a symbol of status of a person, so if Jewellworld.com could affiliate

with some fashion company like brand leather bag, clothing or watches, it might be a

chance to expand their market chare in fashion industry.

Second, Jewellworld.com should segment its product lines and create more surprise

to it customers. To segment its market, it may use age, social and economic status or

price or products etc. it can also try to hire more young designers through holding

competitions or provide a platform for new jewelry designers to show their ideas and

creativities. For customers of Jewellworld.com, it can also be a new inspiration and

create more desire to shop.

The last but no the least, Jewellworld.com can be a channel for foreign jewelry

company to reach manufacturers and retailers. And it may expend their product styles

to fit more different demands.

4.

The following are two options presented in the case: IT support and

re-packaging the web-based services.Since the former option is a new

technology to Jewellworld ,and it will cost more, so we don't suggest

Jewellworld to adopt IT support. We think that customization is important in

order to satisfy the diverse customers,so Jewellworld should keep improving

re-packaging jewellery services.

Beside B2B businese,we think Jewellworld could consider B2C businese to

provide customized services since B2C market might grow up to a important

market.Therefore,Jewellworld could take the following suggestions:

1. provide more customized orders between jewelers and customers.

2. Provide the recycle services for old jewellery in secondhand auction

market.

3. Provide the professional knowledge of the jewellery for customers.

4.provide on-line shopping system.