Case Scenario 3: Abrahamson's Jewelers

question 47

Essay

Case Scenario 3: Abrahamson's Jewelers.
Through its sole location in an affluent suburb of San Francisco, Abrahamson's Jewelers has established a strong niche market in the upscale jewelry store segment. Abrahamson's was founded in 1871 and is currently owned and operated by John Wickersham, who bought the firm from its namesake founders in 1985. Wickersham joined the firm as a trainee out of high school, completed his gemology training, and several years later took ownership with the financial help of his parents. That debt has long been paid off and business has thrived. When he first acquired the business, Abrahamson's offered a full range of jewelry and gift items from watches to wedding sets to silverware to clocks. This broad range of products was mirrored by a broad price range-$10,000 Rolex watches were sold next to $50 Seiko watches. While some jewelry was custom designed and manufactured, most of the products were "case ready," meaning they were sourced from large jewelry and silver manufacturers from around the world. Over the last 15 years, Wickersham has narrowed the company's product offering considerably to focus only on high-end watches like Rolex and Piaget, custom jewelry, and estate jewelry. Wickersham stresses that this is an appropriate focus for his business since each of the products lends itself to relationship selling, and price rarely comes into the discussion. Despite the narrower offering moreover, Abrahamson's floor space has doubled, and clients are intensely loyal to the good taste, design skills, and personal service level provided by Mr. Wickersham.
-(Refer to Case Scenario 3). What generic business strategy best describes Abrahamson's? Why?

---

Definitions:

Acetylcholine

A neurotransmitter in the nervous system involved in muscle movement and memory.

Nicotine

Nicotine is a stimulant drug found in tobacco products that can lead to addiction, it acts on the nervous system to increase alertness and can have harmful health effects.

Acetylcholine Antagonist

A type of drug that blocks the action of acetylcholine at its receptor sites in the nervous system, affecting various bodily functions.

Curare

Curare is a poison used primarily in South America, derived from plant extracts, and known for its muscle-paralyzing effects, historically employed on arrows or blow darts for hunting.