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Tiffanys Chocolate Campaign

Advertising & Communication Campaign Advertising & Promotion Fashion Institute of Technology Amelia Izadpanah, Kayla Kelly, and Kendyl Vertoske

Table of Contents
Executive Summary .........................................................................................................................................3 Situation Analysis .............................................................................................................................................3 History ..............................................................................................................................................................3 Product .............................................................................................................................................................4 Price ..................................................................................................................................................................4 Place ..................................................................................................................................................................5 Target Market ....................................................................................................................................................5 Demographic Profile ...................................................................................................................................5 Geographic Profile .......................................................................................................................................5 Psychographic Profile .................................................................................................................................5 Communications Objectives .........................................................................................................................6 Positioning & Creative Strategy ..................................................................................................................6 Positioning Strategy ....................................................................................................................................6 P4c Ad ...............................................................................................................................................................8 Integrated Brand Promotion ........................................................................................................................9 Magazines ........................................................................................................................................................9 People ............................................................................................................................................................................ 9 GQ ................................................................................................................................................................................... 9 Lucky ............................................................................................................................................................................. 9 Consumer Promotion ............................................................................................................................... 10 Valentines Day Facebook Promotion ........................................................................................................... 10 Tiffany University ................................................................................................................................................. 11 Fashion Week Competition ............................................................................................................................... 11 Press Releases ............................................................................................................................................ 12 Executive Summary ...................................................................................................................................... 16 Works Cited ..................................................................................................................................................... 17

Executive Summary
Tiffany & Co. is a holding company that operates as a fine jeweler and specialty retailer, whose merchandise offerings include an extensive selection of jewelry, timepieces, sterling silverware, china, crystal, stationary, fragrances and accessories. Today there are more than 250 stores in the United States, Canada, Mexico and Brazil. Competition includes: Blue Nile and Pandora. Tiffany & Co. is constantly striving to increase sales through expanding channels of distribution, developing new products, and offering excellent customer service. Tiffany & Co. plans to increase sales by extending their product lines even further by developing a luxury chocolates collection, targeted towards a younger demographic.

Situation Analysis
History
Established in 1837, Tiffany & Co has existed for over 175 years and has set a high standard for luxury international jewelers around the world (Parekh). Today, the brand is known for its high-end status, Tiffany blue box, and timeless jewelry. The majority of their items sell as gifts and this transfers over to their marketing and advertising in which the main theme is almost always linked to love. Founder, Charles Lewis Tiffany, started Tiffany & Co., as a stationary and fancy goods store with only $1,000 from his father (About Tiffany & Co.). He eventually discovered an emerging American style by women who would pass by his store. By 1870, Tiffany & Co. had become Americas premier silversmith and purveyor of jewels and timepieces. In 1886, Tiffany introduced its engagement ring, which is popular today (About Tiffany & Co.). The company has been able to maintain its image by keeping a watchful eye on

competition, to protect the brands equity. One method of control is to assure that Tiffany products may only be sold in Tiffany retail stores, and not by other retailers or wholesalers. Recently, Tiffany went after wholesaler, Costco, legally asking them to stop selling rings that were falsely marked with a Tiffany print. Protection and image status of the brand is a very important part of the company (Parekh). The recession in the later half of the 2000s effected Tiffany, but after the launching of the Tiffany Key Collection the company was able to rebound, and has been doing well since. Over the past year Tiffanys net sales and net earnings both rose 10% from the prior year. Their last year advertising budget in the USA came to over 60 million on measured media (Parekh).

Product
Tiffanys chocolates will come in milk, dark, and white chocolate. Each piece will be made at our gourmet facilities, with added chocolate drizzle to replicate a gift box and bow. The target market includes males and females 18 to 45. Our chocolates will be more affordable than any of the current Tiffany products, so it will appeal to the younger demographic, with growing discretionary incomes, who are looking for a special gift. We are going to package the chocolates in the Tiffany Blue Boxes to keep the luxurious branding that goes along with the Tiffany name. Tiffany & Co. shares, Glimpsed on a busy street or resting in the palm of a hand, Tiffany Blue Boxes make hearts beat faster, and epitomize Tiffanys great heritage of elegance, exclusivity and flawless craftsmanship. This is why packaging our chocolates in the blue box is so important to our customer and brand.

Price
Our chocolates will be priced competitively against our major competitors such as Godiva Chocolatier and Ghirardelli. For example, Godiva Chocolatier sells a 19-piece box of chocolates

for $22, while Ghirardelli has a 70-piece box for $27. Because of our luxurious brand recognition among our consumers, we will price our chocolates slightly above the average specialty chocolates: 9 piece box = $20 18 piece box = $30 25 piece box = $40

Place
The chocolate collection will be available in all of store locations, online, and able to be shipped worldwide. To help promote our new product we will offer in-store free samples, an exclusive launch party, along with several smaller promotional tactics. This report will go into more detail of our positioning strategies, execution styles, and overall information of our new product.

Target Market
Our target segments fall into two categories: the gift-givers and gift-receivers. Throughout history our gift-givers have primarily consisted of males, while the gift-receivers have been females, but today all genders have participated as a giver and receiver. In addition, we have several affluent self-buyers who generally pamper themselves with luxury goods ("Segment Explorer).

Demographic Profile
Males, females 18 to 45 College students to graduates Income level: $75,000+ Dating, married, and occasionally single Nationwide and international Major cities and some metropolitan areas Order from websites like amazon.com, priceline.com, and target.com

Geographic Profile

Psychographic Profile

Enjoy traveling o Cross country o Europe o South America Play fantasy sports Watch the latest television shows Watch soccer Read The New Yorker Own Toyota Yaris or Nissan Altima Hybrid Enjoy going to clubs and nightlife

Communications Objectives
The primary communication objective is to build awareness of the new product being sold at Tiffany & Co. By branching out into chocolate, Tiffany is entering a new market that consumers would not be aware of, so it is important to inform them of the new purchase options. The second communication objective is to maintain the image of favorable attitudes. Jewelry from Tiffany is connected with special occasions and love. The new product should evoke these positive feelings and stay compatible with the Tiffany brand.

Positioning & Creative Strategy

Positioning Strategy
To successfully target customers and reach the set communications objectives we have created an advertisement. The positioning strategies implemented include: Attributes and benefits o We decided to persuade customers through details of the types of chocolates available and an image of the chocolates to give them an idea of what they could purchase and trigger their sense of taste. Most competitors with comparable target markets also use this approach, so we decided to follow a similar marketing path.

Price/quality o We also included key words such as short-term, every moment, big or small, and affordable, and these will express the price to consumers by making them realize they can easily purchase a Tiffanys product for anything

Appeal and Execution Styles Emotional appeal o The advertisement draws on consumers emotions by concentrating on love and affection. These chocolate gifts are meant to appeal to these feelings through making them available for every moment, big or small, so individuals can share their love for others via this sweet snack. The advertisement also states, make your loves moment memorable, hoping that customers will see this is a special gift. Straight-sell or factual message execution o Includes a picture of the product with basic information about the product, focusing on its specific attributes or types of chocolates.

P4c Ad

Integrated Brand Promotion

Magazines
People People magazine has a broad audience of roughly 30,000 women readers and a little over 12,000 men readers. With such wide exposure our Tiffanys candy will be seen by men and women and even passed on through word of mouth to friends and family members who might be intrigued to purchase our new product. GQ GQ magazine will be used to promote our product of Tiffanys chocolate. The GQ target market is men with a median age of 29 and median income level of $82,500, making this magazine ideal for our products promotion (GQ Media Kit). Slightly below 50 percent of the readership accounts for married men, while roughly 52 percent are single (GQ Media Kit). Although this may seem as an issue, a majority of those single men would still have a reason to purchase the non-committal Tiffanys chocolates. GQ readers are known for their focus on culture and style making them the type of consumer Tiffany is interested in attracting (GQ Media Kit). Lucky Lucky magazine is a consumer publication about shopping and style. The magazine is targeted at mainly women, with about 94 percent of female readers ("Lucky Media Kit"). In addition, the median age is 38.1, and their income level is from $68,000 to $85,000. Therefore, this magazines target market falls directly in line with our target for our Tiffanys chocolates, except for men. In addition, according to an MRI report on Fall 2012 Fine Jewelry, Lucky magazine has readers that are 86 percent more likely to use or purchase fine jewelry (Lucky).

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Consumer Promotion
Valentines Day Facebook Promotion Facebook is a widely used social networking site among our target market, and by creating an easy to enter sweepstakes it will help reach our communication objectives. For the sweepstakes we are going to randomly draw twenty people to receive a dinner at a five start restaurant paired with our new line of gourmet chocolates for Valentines Day. The second part of the promotion is that even if you enter you will receive a buy one get one coupon for the new line of chocolates. The goal of this promotion is to bring new and loyal customers into stores and increase sales.

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Tiffany University Tiffany University will be a short-term pop-up shop located at major universities, nationwide, including: Princeton University, Columbia University, University of Chicago, Duke University, University of Pennsylvania, California Institute of Technology, Brown University, Dartmouth College, Rice University, and New York University. These 10 schools were chosen because they are known for being some of the top schools in the U.S., and they are located in or near major cities. In addition, the pop-up shops will be at some of the best schools because as post-graduates they will most likely have a higher income, compatible with our target. The pop-up shops will launch the Tiffanys chocolates to the younger target market, 18 to 24 year-old males and females. This promotional strategy will help increase brand awareness among current non-Tiffanys shoppers. The young college student will be our major focus for the Tiffanys chocolates because it is an affordable gift, while remaining a luxury brand. Students will have a chance to sample the chocolates and compete in weekly contests to win chocolate gift boxes and other prizes. Many of the competitions will utilize social media tools such as Facebook, twitter, and Instagram. The weekly competition will encourage students to tweet about Tiffanys chocolates with #tiffanyu, and the winner will receive a free 25-piece box of chocolates. Fashion Week Competition Starting January 15, 2014 every box of Tiffanys chocolates will contain a card encouraging recipients of the gift to tweet and Instagram photos of the chocolates using the hash tag #tiffanychocolate. This hashtag will automatically enter them to win a Tiffany gift basket and tickets to New York Fashion Week. The contest will close mid-way through the week, and the winner will be randomly selected.

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Press Releases

Tiffany & Co. Contact: Director of Public Relations, Kayla Kelly (212) 633-0277 Office / (212) 479-3183 Home (212) 633-0202 Fax / kkelly@tiffany.com FOR IMMEDIATE RELEASE TIFFANY & CO. OPENS CHOCOLATE POP-UP SHOPS AT MAJOR UNIVERSITIES NEW YORK, NY, November 17, 2013 Tiffany & Co., the world-class fine jeweler, will introduce the Tiffanys chocolates to the top 10 major universities on January 1, 2014. The concept will be called, Tiffany University, to connect with 18 to 24 year-olds. The universities include: Princeton University, Columbia University, University of Chicago, Duke University, University of Pennsylvania, California Institute of Technology, Brown University, Dartmouth College, Rice University, and New York University.

The stores will include the 9 piece, 18 piece and 25 piece chocolate boxes, with the options of our milk, dark and white chocolates.

There will be a weekly hash tag that will be promoted across all the campuses to boost brand awareness as well as increase communication about the chocolates. Participants will be able to share their hash tags on Twitter. There will be a social media contest where students will have to share a tweet, incorporating Tiffanys chocolates and a hash tag. ###

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Tiffany & Co. Contact: Vice President of Tiffany & Co., Kendyl Vertoske (212) 222-0277 Office / (212) 222-3183 Home (212) 222-0202 Fax / kvertoske@tiffany.com FOR IMMEDIATE RELEASE TIFFANY & CO. LAUNCH AN EXCLUSIVE VALENTINES DAY SWEEPSTAKES NEW YORK, NY, November 17, 2013 As Valentines Day is quickly approaching, Tiffanys is proud to announce their latest promotion. For the first time they are launching their Tiffanys Chocolates Valentines Day giveaway. This campaign is launched through their exclusive Tiffanys Chocolate Facebook page. Anyone can enter the contest by submitting an email and zip code. On February 9, 20 people will be selected to win the grand prize of a luxurious evening filled with decadent food and divine Tiffany chocolates.

Everyone that enters the contest will receive a buy 1 get 1 free coupon for Tiffanys new line of chocolates, just in time for Valentines Day.

Tiffany and Company is a jeweler and specialty retailer, whose merchandise ranges from an extensive assortment of jewelry, to timepieces, sterling silverware, china, crystal, stationary, fragrances, accessories, and now chocolates. Today, there are more than 250 Tiffany & Co stores and boutiques serving customers around the world. ###

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Tiffany & Co. Contact: President of Tiffany & Co., Amelia Izadpanah (212) 222-2222 Office / (212) 222-2222 Home (212) 222-1122 Fax / aizadpanah@tiffany.com FOR IMMEDIATE RELEASE NEW YORK FASHION WEEK TIFFANY CHOCOLATE GIVEAWAY NEW YORK, NY, January 4, 2014 Tiffany & Co is proud to announce that it will be giving the opportunity for one lucky winner to attend New York Fashion week and win a Tiffanys gift basket including the newly released product of Tiffany Chocolate.

Starting January 15th inside all boxes of Tiffany chocolate there will be cards encouraging participants to tweet and Instagram photos of themselves eating Tiffany chocolate. Contestants are then entered into the competition by attaching the hashtag #tiffanychocolate along with the photo. The sweepstakes will run January 15th and close mid Fashion Week and a winner will randomly be selected.

Tiffany is very excited about entering a new market with its recently launched chocolate gifts. Just like all of its other products, these chocolates will showcase Tiffanys high

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standard of quality. Like the jewelry these chocolates will be defined by its style and celebratory themes. Tiffany is a company that celebrates love and special occasions. Many men and women carry this love for fashion and Fashion Week represents the most important time of the year for them. This years Fashion Week gift bags will include samples of Tiffany chocolate.

Founded in New York in 1837, Tiffany has been around for over 175 years, and its name is synonymous for taste and prestige. While timelessness never goes out of style, Tiffany & Co thinks it is important to celebrate the love affair many of us share for Fashion.

For more information about Tiffany & Co and its products visit www.tiffany.com

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Executive Summary
The goal of the IMC campaign for Tiffanys chocolate is to raise awareness for the new product while maintaining a consistent message about the company. This is demonstrated through the target market and the consumer promotional events being offered. Social media will play a key role to tap into the younger market and generate word of mouth about the new product. Through the use of sweepstakes, Fashion Week and the Tiffany & Co college tour, Tiffany chocolate will not only gain publicity but also will allow customers to sample the chocolate and learn more about the high quality product and services the company has to offers. The sales promotions offered will not only encourage consumers to try the product but will also create traffic into Tiffany stores. Insuring that Tiffanys chocolate is presented in a manner that is up to the companys high standards is crucial as Tiffanys brand equity will play an important role to new prospective consumers who have the potential to become loyal customers.

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Works Cited
"About Tiffany & Co." Tiffany & Co. For The Press . Tiffany & Co., n.d. Web. 30 Nov. 2013. <http://press.tiffany.com/ViewBackgrounder.aspx?backgrounderId=33>. "GQ Media Kit." Cond Nast. Cond Nast, n.d. Web. 17 Nov. 2013. <http://www.condenast.com/brands/GQ/media-kit/print>. "Lucky Media Kit." Cond Nast. Cond Nast, n.d. Web. 17 Nov. 2013. <http://www.condenast.com/brands/lucky/media-kit/print>. Lucky. Rep. N.p.: Kantar Media, 17 Nov. 2013. SRDS. Web. Parekh, Rupal. "Tiffany & Co. Embarks on Global Agency Search." Advertising Age Agency News RSS. N.p., 4 Oct. 2013. "Segment Explorer." PRIZM Market Segmentation Research, Tools, Market Segment Research,. PRIZM, n.d. Web. 17 Nov. 2013. <http://www.claritas.com/MyBestSegments/Default.jsp?ID=30>.