Industry Analysis and Business Planning for Sara Jewelry it maters Inc Free Essay Example, 2250 words

The rivalry is present and maintained due to the availability of market established companies and brands. The business is likely to face strong competition from well-established companies like Signet Jewelers, Tiffany, and co. , and fossil. The mentioned companies enjoy a well-established customer and brand loyalty. In addition, they also enjoy a lot of economies of scale. Buyer Power: buyers in the market are benefiting from low-cost switching; however, the brand recognition enjoyed by some larger companies diminishes buyer power to a certain extent. Hence it is good to have another brand available in the store. Supplier Power: There are a number of suppliers to the jewelry market and many more options in this ever-changing technological world. Market players often have long-standing relationships with suppliers, with contracts that can result in switching costs being incurred. Suppliers of unique products such as one-carat (or greater) diamonds tend to exert stronger supplier pow er due to uniqueness. Retailers may also purchase finished jewelry from manufacturers. Such suppliers have less power over market players due to the fact that they are numerous and switching costs tend to be fairly minimal. We will write a custom essay sample on Industry Analysis and Business Planning for Sara Jewelry: it maters Inc or any topic specifically for you Only $17.96 $11.86/page