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Great companies thrive due to a fully formed strategy. The hallmark of the Tiffany& Co. strategy is that of Focused Differentiation. It is a strategy that focuses on a particular niche target market, in this case, the wealth of society. It is the uniqueness of the product that keeps customers coming back. This specialness can originate out of superior customer service, stunning product features, and attributes, or outstanding reputation, tradition, and longevity in the niche market.

Target Market

Tiffany & Co.’s strategy reaches only to a select group of wealthy and affluent consumers who appreciate high quality. The little Blue Box is a token every customer after making a purchase. This token is Tiffany & Co.’s pledge to continue to satisfy customers who are inclined to the finer things in life: High Society so to speak. These customers will disregard the low-cost substitute products for the unique look and feel of the real deal.

Tiffany & Co.

The Strategy that is most responsible for Tiffany & Co. is the focused differentiation strategy. Tiffany & Co. uses the strategy to establish itself as one of the prominent jeweler retailers in the world. Founded in New York City in 1837, Tiffany & Co.’s reputation in the marketplace is solid with stores in Europe as well as the Asia-Specific region. Since its reputation for selling fine jewelry, the retailer’s reach has resulted in sales totaling up to $3 billion. In its 175 years of existence, it has made a tremendous on the jewelry industry worldwide.

Superior Brand

The purpose of Tiffany & Co.’s strategy is to maintain a superior brand. Without this determination, the retailer will lose its unique niche market to other competitors.
Therefore, it must continue to present to the customer with nothing less the most superior diamonds, a perfect 4C selection.

In order to uphold the status, power, and perfection that its customers expect Tiffany & Co. must not waiver in its determination, regardless of the state of the economy or of rivals offering genuine substitutes at a lower cost. Tiffany’s brand and tradition speak for itself. And a great organization stands its ground.

Tiffany & Co.

To stay on top of the mountain, an organization must build upon what has gotten it to the top. Any deviation from a winner strategy will mean the loss of identity as well as customers to the charms of a competitor with similar taste.

The mountaintop is there for Tiffany & Co. as long as it stays loyal to the brand is established in the 1800s. Great organizations go under because they are intimidated by a change in the marketplaces. The lower cost, stop training employees and shut down stores. However, Tiffany & Co. wasn’t destroyed to abandon ship during the recession of 2008. Instead, it of lowering its prices it raised them, offering its customers an opportunity to identify with affluence even it bad economic time. The risk was worth it. Their strategy sustained them.

Going Forward: SWOT Analysis for Tiffany & Co.

Tiffany & Co. unique strategy gives them the ability to seize market opportunities and nullify many external threats. The sign of a great organization is its ability to remain king of the mountain by taking advantage of opportunities for growth and expansion while also building up a strong competitive defense against rivals.

Tiffany & Co.

Entering into New geographic markets

Tiffany & Co. popularity and potential for wide world reach will in able it to take advantage of new geographic markets. It already has stores in both China and Europe. It’s a commitment to superior style and quality has made the difference in sales growth and prestige.
Committing to an Ever-Expanding product line

Tiffany & Co. will have to continue to expand their product line as the opportunities arise. The Jewelry giant has always possessed an attractive product line, including “key chains, eyewear, leather goods, scarves, tableware, vases and a selection of other items. Tiffany & Co. continue growth in revenue will allow it to select other unique products as well as partner with other unique companies that sell prestigious items.

Taking Advantage When Trade Barrier Falls

Tiffany & Co.’s will also be able to enter into other lucrative foreign markets as its expanding, worldwide influence continues to grow. As the trade barriers fall among foreign markets such as Cuba, the organization will be able to introduce its brand to the affluent within these markets. Tiffany & Co.’s popularity and longevity in the jewelry industry will trigger trust and partnership in business with new retailers in other countries.

Tiffany & Co,

Increasing intensity of competition among industry rival
Because of Tiffany’s & Co. unique strategy, it will be hard for rivals to duplicate what it is doing in the marketplace. The unwillingness to let the customer down and then refusing to go with jewelry products that do not meet the highest quality will keep rivals at bay. Although non-traditional retailers or one-stop-shop stores might at times have a slight impact on the sales growth and profits of Tiffany & Co., these stores will not be able to attract the consumers that prefer quality and brand over price.

The occurrence of Adverse economic conditions

Tiffany & Co. know how to waiver adverse economic conditions. It came out a winner last time. Therefore experience counts. By expanding its product lines and raising its prices to keep up with the rising prices of gold and other precious metals, the company knows how to rebound from bad economic times.

Tiffany & Co.

A shift in buying needs and taste away from industry’s product
Expanding its product line was the key to meeting the shifting needs of customers. Tiffany & Co. has a large array of new products and accessories to accommodate its jewelry collections. This is the way to go as trends come and go according to consumers’ needs and desires. Furthermore, in order to reach a broader market, Tiffany &Co, has even invested in some lower cost products without jeopardizing its name brand products.

The strength of Financial Performance

The financial performance of Tiffany & Co. is the hallmark of success. An indication of this is determined by the company’s EBIT margins. The statics show tremendous growth from 2006 to 2011. In 2006, Tiffany’s overall annual revenue was $1, 560.9, but in 2011, Tiffany & Co. revenue was up 18% or $1 764.2.
The statistics show a dip in financial revenue in 2009 and 2010, but a rebound in financial profits in 2011. Obviously, Tiffany’s success doing the recession of 2008 and its gradual recovery proves that it has a winning strategy for sustainability doing rough times.

Competitive Strength for Longevity in the Industry

Because of its ability to bounce back from an adverse condition and its ability to adapt to changing trends, the Tiffany & Co.’s is well suited to defend its position in the industry. Its reputation and image in the marketplace speak for itself. With a strong rating, superior product, quality performance, and strategy, which cater to the affluent, Tiffany & Co. will have the necessary resources to continue to uphold its market share.

Tiffany & Co.

Resolving Current Issues: Matching the March of the Competition

Although Tiffany & Co. has been successful in adverse economic condition due to its outstanding strategy, it must address issues that might become a problem in the near future.
Tiffany & Co. doesn’t have to change its method of operation, which has been a model of success since its inception, but it must strive to maintain its dominance in the marketplace. It must be aware of the Blue Nile Inc. strategy, an industrial giant which dominates the internet in Jewelry sales and accessories. As consumers become more inclined to shop online, even for top of the line Jewelry, traditional brick and mortar retailers may begin to suffer. In order words, Tiffany & Co. must increase its presence on the web.

Investing in websites that promote that will promote Tiffany & Co’s brand will have the potential to reach a wider market. This shouldn’t be entirely difficult since the Tiffany & Co.’s image is a well- known entity among the affluent of the world. Tiffany & Co. must cling to this new mission and match the march of the competition in the area of cyberspace. With the strength of its resources, superior commitment and track record of success Tiffany & Co. must adapt its strategy to building its brand on the World Wild Web.

Tiffany & Co., popular diamond sellers,

Recommendations for Future Development

The economy always operates on an air of uncertainty. The unexpected can happen without warning. The next wild world disaster of a financial crash can send the economy into a whirlwind. In this case, retailers must be prepared to thrive in such trying times.
When interruptions in the economy occur, retailers and organization must have a plan B. The greatest preparation is to not go at it alone.

To prepare for an ever-changing economy, Tiffany & Co. must continue to, not only increase its product line but also engage in stronger partnering for the future. Strong partnerships with the right companies will further strengthen company’s ability to invest in new geographic areas and reach new customers. In addition, Tiffany & Co. must adapt to the Millenium generation, including their taste, culture, and ideas.

 

 

 

Tiffany & Co. is an American multinational company with a popular reputation for selling stellar and prestigious diamond jewelry and a variety of other precious stones.

Founded on September 18, 1827, Tiffany & Co. employees over 10,000 individuals and possesses a total equity of $3.79 billion.

One distinguishing factor which separates Tiffany & Co. from other diamond business is its little iconic blue gift boxes, which indicates a type of royalty in the industry.

Tiffany & Co.

The outstanding company is highly appreciated by a customer who desires the finer things in life, such as Tiffany & Co.’s luxury goods as well as its diamond and sterling silver.

Tiffany & Co.’s Prestigious Products

  • Jewelry
  • Diamond Jewelry
  • Sterling Silver
  • Crystal
  • Stationary
  • Fragrances
  • Watches
  • China
  • Water bottles
  • Personal accessories

These are only a few of Tiffany & Co. products. The company is steadily trying to come up with ideas to expand its product lines.

Keys to Success

  • Strong brand name-image
  • Attractive customer base
  • Superior product quality
  • Experience curve advantage over rivals
  • Wide geographic coverage
  • Expanding a company’s product line
  • Wide choice of product options
  • Acquisitions/alliances and resource-rich joint ventures

Type of Customers

Although Tiffany & Co. has expanded its product line to include affordable items for the general consumer, the company’s main customers are people with a taste for the finer things in life: wealthy people.

Providing high-quality diamond Jewelry to the rich during challenging times in America is what kept Tiffany’s & Co. on top of the mountain. The rich were able to afford to buy Jewelry regardless of how desperate the economy was.

Nevertheless, Tiffany & Co. have expanded its product line to include items which ordinary consumers can buy and enjoy.

Preferential Customer Engagement

Tiffany & Co. treats its customers with delight. Individuals who desire to purchase diamond jewelry can come into its store and customize the diamond. They can choose the size the caret and the style of the ring desired.

Employee engagement with the customers is magnificent. Customers are not forced into purchasing a ring on the spot. Therefore, customers enter and leave the place feeling well-served.

Training & Support

If you don’t know anything about a diamond, the diamond icon enjoy training and supporting their customers all about diamonds. For example, you can learn about every expectation of a diamond before you make a lifetime decision.

You will learn the 4cs of a diamond, which includes cut, color, clarity, and caret. Knowing these aspects of diamond can assist you in choosing a wedding ring with great confidence.

Prices

Tiffany & Co. does have some specialty items which ordinary consumers can purchase and enjoy, including some jewelry. However, because if the superior quality of its diamond jewelry and specialty products, the prices are worthwhile.

When you purchase diamond jewelry from Tiffany & Co., you know you getting some of the best quality jewelry items in the business.

Ranking among Rivals

Besides several small rival brick-n-mortar stores, Tiffany & Co. biggest rival happens to be the Blue Nile, an online diamond Jewelry icon. Instead of going to a brick-n-mortar business to explore and purchase a wedding ring, an individual can look online at Blue Nile’s prestigious line of jewelry products.

However, Tiffany & Co. has expanding its online presence to adjust to the overwhelming trend toward online shopping.

Final Opinion

Tiffany & Co. is one, if not the only, iconic diamond retailer in the industry. Customers who desire the highest quality of prestigious jewelry might want to consider purchasing from a jewelry retailer that has a reputation for surviving through the ups and downs of the diamond industry. That would be Tiffany & Co.

The Tiffany Metro Watch is one of the most distinguished watch brands available from Tiffany Men’s Jewelry collection. The watch is defined by elegant and authentic lines and evokes the energy and pace of the city of New York.

Who is the Tiffany Metro for?

Excellent for the modern professionals who desire to display a show of flair, the Tiffany Metro Watch features a brilliant crown diamond with a unique serial number. Combined with Switch watchmaking expertise and Tiffany’s reputation for diamond brilliancy the Tiffany Metro Watch is an eye stopper and impresses people everywhere you go.

Features

A design traced by diamonds, the deal crown of Tiffany Metro Watch is a magnificent mechanism of beauty and style. The feel of this distinctive watch upon your wrist will give you a boost of confidence and control you that you never had until now.

Your reputation for fine jewelry will impress your peers as we as strangers.  You can easily become the focus of any party.

Why Should You Buy from Tiffany?

When it comes to fine jewelry of any kind, Tiffany & Co. sets the standard in the industry. Having been around since 1837, its expertise in diamond mastery and quality is unmatched by any other, even the Blue Nile.

 

With an attractive customer base, Tiffany was able to thrive even during the great recession of 2008, selling those who had a large appreciation for its remarkable taste in find diamond and jewelry.

Key features:

  • Diamond traced Dial and Crown
  • Integration of Switch superior Watch making and Tiffany’s Reputation for Diamond mastery
  • Elegant and authentic lines
  • Assigned Unique Serial Number

 

In one watch you have two of the greatest jewelry icons (Tiffany & Switch) combining to create a magnificent masterpiece that will last from generation to generation.

Price Range: $3,999-16,000

Component Quality and Warranty

Tiffany & Co. believes in providing exceptional quality to its customers by using the highest grade components in designing its watch masterpieces.

All of the iconic brand watches carry a warranty of 24 months in case any disruption occurs during the warranty period, including the repair of any defect for free.

Maintenance

The quality of Tiffany Metro Watch should be well-maintained and polished. Tiffany offers customers its Silver care kit consisting of silver polish cream, polish spray, and cloth for $35.00. This small investment is worth the money, considering the worth of your Tiffany Metro Watch. Other cleaning accessories include Tiffany’s polishing mitts in blue fabric, only $15.

In addition to cleaning the watch, customers should consider submitted Tiffany Metro Watches for service every five years to assure that the mechanism will operate smoothly for years to come. Depending on the watch, the usage time, and other uncontrolled factors, some watches should be serviced sooner.

A Wonderful Investment

The Tiffany Metro Watch is one of a kind. Its brilliance and sophistication, when worn around the wrist of its owner, is outstanding. With its diamond lanced dial and crown, this iconic watch will forever be the envy of the celebration.

The elegant Wrap Necklace by Tiffany & Co. represents a look of extraordinary beauty and boldness and is a piece of jewelry that the native New Yorker woman should be proud of. But the elegant Wrap Necklace isn’t only for the sophisticated New Yorker, but also for any woman who desires to portray the look of wealth and beauty among peers.

When friends, relatives, and co-workers see you wearing this magnificent piece of jewelry at special occasions, including galas and black tie events, they will keep turning the eyes back toward you every chance they get.

The elegant Tiffany & Co. Wrap Necklace is for the lady who loves the finer things in life and who loves a bold stand-outlook when in the crowd.

Features

  • 18k rose gold
  • 36’ long
  • 19 mm diameter

Whoever purchases this wonderful Tiffany & Co. Wrap Necklace will enjoy many years of pride, appreciation, comfort and ease. Forget about awkwardness when slipping into this chain.  Instead, put on your evening gown or your red dress and take attention from men who love a refined, mature looking woman.

Pros:

  • Strong name brand image
  • Captures the spirit of New York
  • Bold, standout piece of gold jewelry

Cons:

  • Too Pricy for the average consumer

The elegant Tiffany & Co. Wrap Necklace comes in a variety of lengths, including 16, 18, 20, 24, and 36. This gives you an opportunity to find your exact fit.

You can purchase the Wrap Necklace from the Tiffany and Co. website and comes with free shipping and handling.

Price:

The Wrap Necklace will cost you $14, 000. The 18k rose gold alone is worth the purchase of this magnificent piece of jewelry, which gives you a sense of wealth.

Final Opinion

If you desire that look of gold and the feel of a million dollar winner, Tiffany & Co the Wrap Necklace is for you to wear. You can order it from the company’s website or schedule an appointment with one of the representatives nearby.

 

 

A priceless engagement ring comes straight out of the heart of the giver. An aesthetic Pear shaped diamond engagement ring from Tiffany are co. is one of a kind. A tapered teardrop emerges from a round brilliant marquis cut.

Some say that this magnificent shape represents tears of pure joy and affection for a lover who has fallen deeply in love and wished it to last forever.

The Tiffany& Co. Pear-shaped diamond ring is for those women who desire a look of sophistication and wealth around their finger.

The Pear-shaped diamond engagement ring is the one a placed on the finger of my wife at the joyful moment of our engagement.  It may have not been in the same league as a Tiffany & Co. pear-shaped diamond, but it looked like a million dollars on her finger.

Features

  • Pear-shaped rock
  • Perfect proportions resulting from extraordinary craftsmanship
  • Makes the finger of the bride appear slender and elongated
  • Elegant in appearance

You will notice the difference in the reaction of friends and family when they see this pear-shaped diamond on your finger.  Wear it at your friends anniversary party and everyone will be aware that you got next.

You can change the atmosphere at a tea party when you walk into the room wearing this wonderful piece of diamond jewelry.  They will realize that you will not be single much longer. You may even inspire a once broken-hearted friend to get back into the game of love.

The Pear shaped diamond engagement ring by Tiffany & Co. cannot be denied among other rings in the room, regardless of the size of the rock. The magnificent quality of a Tiffany & Co. diamond engagement ring is one of a kind.

Pros:

  • Popular name brand image
  • Makes your finger look elegantly
  • Gets the attention of people nearby

Cons:

  • Too Pricy for the average consumer

Price:

 

You will pay $10,000 for the Pear shaped diamond engagement ring by Tiffany & Co.  However, because of the extraordinary quality of this find diamond engagement ring, you will feel extremely inspired that you own it.

Final Opinion

Giving or receiving a Tiffany & Co. A pear-shaped diamond engagement ring is a gorgeous event that will provide inspiration and love for all involved.