Q. 2 Define in detail the attributes of “value” when buying and co-designing a $50,000 wedding ring. What creates a wonderful buying experience?
Attributes
When buying and co-designing a $50,000 wedding ring, value is a major part of the buying process. Some of the factors that attributed to the value of this process is amazing customer service, great business values and ethics, and knowledgeable staff. Each one of these plays a major part from the instant a customer walks through the door to even after they leave with their custom designed piece of jewelry.
From the second Lilly and Lester walked through the door at Hudson Jewelers, they were given the feels of being the only customer. They were greeted with a smile and introduction …show more content…
If you truly believe this take a look around you and take notice how many women have some form of diamonds to accessorize their wardrobe, just about all of them! Diamonds are not in fact rare, they are merely marketed to make you think that. According to a Diamond Insight Report released in 2013 diamond demand reached a record high of seventy-nine Billion dollars.
The diamond business is a completely global supply and demand market with none of the parts of the value chain being in a single country. The rough diamond market, which includes the price of the diamonds before any cut or polish has been made, is expected to remain stable for the next four years. But, as time goes on and existing mines become either depleted or shut down from poor management, the gap between supply and demand is expected to increase in the long run. This is all if no new deposits are found. This growth in demand is mainly due to the emerging markets of India and …show more content…
As previously stated, the diamond industry is a big money maker, from mining to selling it employs roughly ten million people with work each year. The problem the diamond industry began to run into is the fact that diamonds are not rare, they are virtually priceless due to their abundance. What is the diamond industry, a billion dollar industry, to do when there is such an abundance? They created diamond reserves to give the illusion that diamonds are in fact rare and increase the price and let the supply seem to
Attributes
When buying and co-designing a $50,000 wedding ring, value is a major part of the buying process. Some of the factors that attributed to the value of this process is amazing customer service, great business values and ethics, and knowledgeable staff. Each one of these plays a major part from the instant a customer walks through the door to even after they leave with their custom designed piece of jewelry.
From the second Lilly and Lester walked through the door at Hudson Jewelers, they were given the feels of being the only customer. They were greeted with a smile and introduction …show more content…
If you truly believe this take a look around you and take notice how many women have some form of diamonds to accessorize their wardrobe, just about all of them! Diamonds are not in fact rare, they are merely marketed to make you think that. According to a Diamond Insight Report released in 2013 diamond demand reached a record high of seventy-nine Billion dollars.
The diamond business is a completely global supply and demand market with none of the parts of the value chain being in a single country. The rough diamond market, which includes the price of the diamonds before any cut or polish has been made, is expected to remain stable for the next four years. But, as time goes on and existing mines become either depleted or shut down from poor management, the gap between supply and demand is expected to increase in the long run. This is all if no new deposits are found. This growth in demand is mainly due to the emerging markets of India and …show more content…
As previously stated, the diamond industry is a big money maker, from mining to selling it employs roughly ten million people with work each year. The problem the diamond industry began to run into is the fact that diamonds are not rare, they are virtually priceless due to their abundance. What is the diamond industry, a billion dollar industry, to do when there is such an abundance? They created diamond reserves to give the illusion that diamonds are in fact rare and increase the price and let the supply seem to