Business Plan The Stone Appeal Jewelers Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Business description:

Company objectives:

The basic objectives of The Stone Appeal Jewelers are mentioned below:

To create a brand in jewelry that can out beat expectations of the customers in terms of quality of jewelry along with customer service and design styles.
To create a business unit that will be engaged in the sale of customized jewelry so that requirements of the target market can be easily met.
Make a growth in business with about 15% in terms of products selling.
Sustaining quality along with maintaining new designs.

Mission:

The mission of The Stone Appeal Jewelers is to make a product that is high in terms of quality and unique in terms of design and made with gemstones that gave it a natural look. In addition to this, it will also offer outstanding personalization and customer service to all the customers online with the help of eBay. Another mission of the company is to attract customers through offering innovative combinations related to jewelry and their outfits.

Managing Values:

The main values of the company are as follows:

Happiness: the element of happiness will always be there in our selling service just to ensure that customers are treated with politeness and courtesy.

Passion: all the employees and members of the company will have passion for jewelry so that selling can be done in the best possible way.

Fairness: to be transparent in daily business operations with employees and the customers as well as in terms of providing best possible products and customer service with affordable prices.

Bases for success:

There are certain keys to success for The Stone Appeal Jewelers that needs to be followed by the company are as follows:

Proper exposure of the company products on eBay’s website so that the company can target its customers in a possible way.
Offering customer service that customers won’t be able to find anywhere.
Giving suggestions and advices to customers about the latest fashion trends and awareness properly.
Maintaining and reviewing inventory to meet an uneven customer demand; thus, maintaining inventory levels according to it.
Satisfying the needs of employees as well because satisfied employees are the ones who can make the customers satisfied.
Secure a position on eBay’s website that is clearly visible and accessible to the audience without any complexity.

The company description:

The Stone Appeal Jewelers is a startup business with no physical store as the business will be done online through eBay’s site. The primary owner of the company is an entrepreneur named Steve Wilson. The company will be engaged in selling jewelry related products that will be both standard and customized as well. The jewelry will be created and supervised by the owner himself at home. The prices of all the products are set according to the cost and the target market i.e. social and professional women. The orders can be placed on website 24 hours a day and seven days a week, however, customer service will be available from Monday to Friday and the timings will be from 10am to 6pm.

Ownership of the company:

The company will be based on the sole proprietorship and the only owner of the company will be Steve Wilson. The owner is experienced in making and designing of jewelry and worked with several jewels and in jewelry shops for approximately ten years. During his professional career, he worked with various successful companies as well. In addition to this, the owner has recently started giving tutorial classes for jewelry making.

Summary of start-up:

The cost associated with making the jewelry and making overall business operational will be around $56,300. In addition to this, the inventory and raw material cost is estimated to be $49800. The investment needed to start a business will be done through the owner of the company himself.

Location:

As the company will operate online, physical presence will not be there of the company and the only way through which a customer can place their orders will be eBay’s site. The raw materials and inventory related to the products will be placed at the owner’s home. The making of jewelry will also be done in the owner’s residence.

Products:

The products of the company that are bracelets, rings, pendants and earrings will be particularly made through rhinestones and gemstones. The customers will have a wide variety to choose in terms of size, colors, and various styles to cater the needs of professional women. For an introduction and elimination of a certain product, the basis for management will be sales report and the feedback from the customer’s side.........................

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