The Nash Jewellers Case (5.7) deals with marketing issues surrounding the creation of a website for the company and how it will be used. This will involve the implementation of the website and how it will be configured either solely for advertising or sales as well as advertising. The construction of it will have to be presented following the values / standards of the company and be completed in 4 months. The company will have to figure out what the impact the website will have if any on the retail stores staffing, hours of operation, sales and business strategy. The company will need to look at how the website is going to be advertised and how the company is going to stand out in the world of e-commerce in this global market.
After discussing the alternatives in this case write up, in the short term Nash Jewellers will develop a website in a 4 month period that would have a “rich and luxurious” feel to it. The website will advertise all the stock products that the company carries and allow customers to use DJOL from the comfort of their own home and later purchase the jewellery they designed at a retail location. In the medium term, the company will need to start advertising for the website through other reputable websites such as CJA and Lazare Diamonds, as well as around the JLC.
The employees will also need to start collecting their customer’s contact information (name, e-mail address, etc.). This information will be used to send personalized e-mail newsletters out to their current client base which will help increase the company’s sales and build a relationship with the customers. In the long term, the company should work towards expanding into another market into the Southern Ontario market to make more profits and attract more customers to the Nash Jewellers brand.
Problem Statement John C. Nash has to decide if creating a website would be the correct step for Nash Jewellers, and if it will used solely for advertising or if it could also be used to sell products for the company (Nash Jewellers). Sub Problems 1. The site needs to be operational and functional in 4 months. 2. How will the site be presented and what information will it provide to the users? (look and feel of the site)3. What impact will the site have on the current staffing, hours of operation, sales and business strategy of the current Nash Jewellers locations?
4. The company needs to find a way to standout in the crowd of jewellery stores (70+) in London, Ontario and around the world with the introduction of e-commerce. 5. Where will Nash Jewellers advertise the website? 6. Will it generate revenue through advertising for other companies? Corporate Objectives 1. To gain a larger local market share (London, Ontario and surrounding area) 2. To have at least enough referrals from the website to cover the costs of the website3. To gain online exposure for the Nash Jewellers website and the brand through online advertising and co-branding e.g. CJA (Canadian Jewellery Association) 4. To show Nash Jewellers as a premium custom jewellery brand on the world stage