Tiffany & Company is an American public limited company.

The world-known Company is associated

with the Lifestyle and retail sector as it deals with jewelry and diamonds. It was founded in the year
1837 jointly by its co-founders John B Young and Charles Lewis Tiffany. The Company was initially
established as Tiffany, Young, and Ellis, but it later changed its name to Tiffany & Company, and now
it is known as Tiffany. Top competitors of Tiffany are:

 Graff
 De Beers
 Chanel
 Cartier
 Chopard
 Bulgari
 Harry Winston
 Blue Nile
 Gitanjali

The journey of Tiffany:

Marketing mix of Tiffany & Company

Product

Tiffany & Company concentrates on specialty and luxury items. Its name is tantamount to gorgeous
designs and immaculate artistry. Its product range is varied and unique and includes personal
accessories, customized items, and handcrafted products. Tiffany & Company is exclusively known
for sterling jewelry and diamond products.

The jewelry section of Tiffany & Company includes-

 Men's jewelry
 Pearl Jewelry
 Tiffany Jewelry
 Wedding Bands
 Earrings
 Rings
 Bracelets
 Pendants and Necklaces

Jewelry Collection includes

 Tiffany Now
 Tiffany Metro
 Tiffany Yellow Diamonds
 Tiffany Soleste
 Tiffany Keys
  The Atlas Collection
 Tiffany Celebration Rings
 Tiffany Victoria
 Tiffany Infinity
 Tiffany T
 Tiffany Hardwear
 Return to Tiffany
 Tiffany Paper Flowers

Love and Engagement

 Tiffany Celebration Rings

 Couple's Rings
 Wedding Band Sets
 Men's Wedding Bands
 Women's Wedding Bands
 Engagement Rings

Place 

Tiffany & Company has a global presence and operates via its headquarters based in New York City.
The Company started its operations from Brooklyn and has extended its operations to
overseas markets to include Canada, Mexico, Brazil, United Kingdom, Italy, Ireland, France, Spain,
India, Belgium, Austria, Netherlands, and Australia. In the year 2004, Tiffany & Company opened a
chain of outlets for only-pearl jewelry.

Tiffany & Company has a robust distribution network that embraces both direct and indirect
distribution. The products are retailed via corporate marketing and direct mail. The Company has its
brick and mortar Tiffany stores that aid in the easy and fitting selling.

The Tiffany stores are positioned in places to suit the impulses of the rich and elite class. The window
display, floorings, and interiors are avant-garde because of its splendor. Its flagship store is situated
in Manhattan in New York City. Several outlets are positioned at airports and high-end shopping
malls to gain maximum clienteles and increase brand cognizance.

 It has well-developed industrial facilities that are responsible for 60% of its products. The remaining
is derived from overseas third-parties. In the United States, silver goods and jewelry are factory-
made in Mount Vernon, Cumberland, and Lexington, and the silver hollow-ware is manufactured in
Rhode Island. The brand has other amenities to polish and cut the diamonds.

Price

Being a prominent luxury goods manufacturer, the prices are per the affluent segment of society.
However, Tiffany & Co. aimed to increase its revenue by expanding low-cost products in the market.
The price was as little as $30-$60. It assisted in increasing sales by increasing the volume. The pricing
strategy was a step by step increase in prices over some time. They had all the expensive products at
the exact price for continuously two years, thereby concentrating on the low priced goods. Tiffany &
Co have improved revenue from the high priced goods by offering discounts, promotional material,
and increased online presence.
The Company has well-positioned itself as an arbiter of elegance and taste, and its products are
connected with elite status.

It has targeted upper-class clients from affluent families that look for exclusivity, elegance,
sophistication, grace, and style. The brand caters to high-end products, with unique gift wrapping
unique and appreciated by all.

Tiffany & Company propositions premium products and hence has implemented a premium
pricing policy. As its customer base does not have to think before making a purchase, it is certain of
its sales and revenues. To contest with rival brands, Tiffany & Company has launched some
reasonably priced products and has adopted an affordable pricing policy for them.  These products
increase their sales volumes and help them to earn additional revenues.

Promotions

Tiffany & Company has a solid and aggressive marketing policy to generate positive brand
awareness. It has fashioned some splendid ad campaigns and has publicized them via the media and
magazines like Conde Nast Traveler, Money, The New York Times Magazine, Vanity Fair, Texas
Monthly, and Black Enterprise. With the beginning of digital and social media platforms, the
Company displays banner advertisements in the New York Times' mobile app.

The app can be downloaded for free Tiffany & Company uses a social media platform to connect
with its customers. It has an official website to enable any pertinent information. The Company has a
fan of 10.0 million and 1.6 million on its Facebook and Twitter, respectively.

Tiffany & Co. endorsed themselves on the goodwill they received from the mail order catalog, the
'Blue Book,' which is still predominant in the 21st century since 1845. They had the first colored
catalog that reached over 15 million in 1994. They had their print media active until the early 21st
century, but later they stopped promoting print ads and newspaper advertising methods. Tiffany
focused more on engagement with the customers and then focused their strategy on digital media.
As every product is available online, they fashioned their digital existence. It was challenging to sell
their product, which may be a once in a while purchase for customers. They had their content
strategy so well curated that they garnered millions of followers on social media. The main aspect of
their online presence was the augmented reality feature. Tiffany has an application Engagement
Ring Finder app, displaying numerous suitable ring options to the consumer after putting her finger
under the phone camera. This helped customers get what they desired, especially in the luxury
segment, without visiting the store. Emotive selling is its core strategy in selling products online.

Tiffany & Company has used its catalog as a portion of its advertisement policy. It was free till the
year 1972, but later a fee was charged. The Company offers a corporate-gift collection every year,
and numerous corporate buy its gift items for achievement recognition awards.

Tiffany's flagship store at Manhattan has been the shooting location of several movies like Sweet
Home, Alabama, and the iconic Breakfast at Tiffany, featuring Reese Witherspoon and Audrey
Hepburn, correspondingly.

Tiffany & Company has been making several trophies, including the Vince Lombardi Trophy at the
Super Bowl for the winning Team, Larry O'Brien Trophy for w of NBA Finals, MLS Championship
Trophy, Rugby League World Cup Trophy, Detroit Gold Cup, and For San Francisco Giants the
Company has made 2010 and 2012 World Series Rings.
SWOT ANALYSIS

Strengths

 History/Branding – Tiffany & Co. (Tiffany's) have rich antiquity and are a well-known legacy. The
blue box with a white bow, labeled the Tiffany Box, is equal with luxury. The box was originally a
marketing campaign for the international retailer to standardize a customer's involvement in the
store (Kaur, 2016). Tiffany's is known for its legacy. The retailer has been significant in the design of
the United States (U.S.) currency, the Congressional Medal of Honor, and the creation of sporting
trophies (Tiffany & Co., 2019). Tiffany & Co. made a name for itself globally when they widened their
market and took the Company abroad in 1850.

Clientele – Tiffany & Co. has factually been in the spotlight on the Silver Screen and the Red Carpet.
A successful marketing campaign made Tiffany's diamond a status symbol for the affluent and
beautiful (Kaur, 2016). The campaign embodied in the 1961 film Breakfast at Tiffany's featuring
Audrey Hepburn, again in Madonna's 1985 music video, Material Girl, then in the 1998 series Sex
and the City's Carrie Bradshaw, showcasing Sarah Jessica Parker (Kaur, 2016). This idea is still
current (Hellman, 2015), and today's celebrities, with Anne Hathaway, Angelina Jolie, and Kate
Winslet, still wear Tiffany's diamonds with pride.

 Product Quality/Design – Tiffany's has continuously made it a point to carry the finest products with
supremely gorgeous designs. The natural world inspires Tiffany's pieces' art, and the materials are
sourced from ethically responsible mines (Tiffany & Co., 2019). Tiffany's boasts cast-off 99.96
percent of the diamonds to guarantee only the finest are used in their projects. This choosiness,
along with high-demand, expert designers, ensures each customer they are buying a unique and
high-quality piece.

Weaknesses

Expensive – In the Golden Age of Tiffany & Co., luxury and pricey items were factory-made for the
highest dollar for clienteles to show off the cash they had to burn. Even if someone had the desire,
they could purchase a watering can for $35,000 on the website. Nevertheless, even the popular
engagement rings tend to be out of the budget range for most middle-class Americans. The average
engagement ring price in America is approximately $3,000. The popular Tiffany Setting begins pricing
over $10,000 per ring. The Company often seems old-fashioned to younger generations looking for a
more modern design.

 Seasonal – As most retailers, fourth-quarter sales are the top money-maker, and Tiffany needs to
have a solid holiday to make numbers. Quarterly dividends are important to investors, and the top
quarter's detriments can have adverse effects on any retail industry. Like all retailers, Tiffany's must
rely on end-of-year sales, which can account for more than 30 percent of annual sales.

Opportunities

 Asia-Pacific Market – Tiffany & Co. has 87 stores in the Asia-Pacific region. That is about 28 percent
of their brick and mortar stores. It is estimated that upwards of two-thirds of the world's middle
class will live in the Asia-Pacific region. Tiffany's target market concentration could be an easy way
for the Company to capitalize on this newfound wealth.
 Sustainability –the Tiffany & Co. website has links and references to their current sustainability
project. In an industry that is highly dependent upon mining and obtaining from the planet, Tiffany's
has gone out of their way to be ecologically responsible so their business can be sustainable in the
future. Tiffany supposes suppliers to be environmentally accountable as well, and they must be
compliant else Tiffany's will stop business. This motion can help Tiffany & Co. flourish through future
generations and preserve their limited resources.

Threats

Counterfeit – In 2010, Tiffany & Co. tried to sue eBay for counterfeit products' advertisement and
sale. The judge governed in favor of eBay, affirming that the auction-based site did not set out to
cheat, and it was only fraudulent vendors using the site (Stempel, 2010). In 2017, Tiffany's
successfully suing Costco for $19.4 million for selling fraudulent Tiffany products (Stempel, 2017).
The high-end Tiffany products' allure keeps counterfeiters in business and Tiffany's rivalry with its
forged self.

Man-made Diamonds – Synthetic diamonds are nothing new. Though the technology to master a
synthetic diamond is on the upsurge. The De Beers Group is a top Company in diamond procurement
and is fighting dreadfully against the market of man-made diamonds. The arrival of diamonds in the
market will cut into the values of real diamonds and threaten the gemstone that Tiffany's has come
to rely on.            

Changing Mindset – In this digital age, a customer base's connection can typically be established on
social media. The communication of a vendor and the potential buyer through social media
platforms can be imperative to the positive recruitment of that customer. Young, possible customers
wish to see more than just imagery on Tiffany's social media page. These effective digital meetings
often lead the young person into the store to be let down with old-style shopping. Tiffany & Co. has
endured nearly two centuries, and they need to evolve with the times to stay in business

Tiffany & co. have a strong presence in all the leading social media platforms, like:
 Twitter: They have 1.6 million followers on Twitter, with an average of 10 tweets per week.
They joined the platform in November 2009 and use this platform to promote their
campaigns, share news about the Company, and interact with their customers and fans.
 Facebook: More than 10 million people like and follow their page and also share similar
posts on Facebook as they do on Twitter. The page was created in February 2009, and just
like on Twitter, and it has a direct link to their website for the customers.
 Instagram – They have more than 11.5 million followers. Their posts on all these social
media platforms are consistent, and they do not make major changes on these platforms
except for the length of posts on Twitter is lower due to limited word count.
 LinkedIn – Their page on LinkedIn has around 500,000 followers, and here they post fewer
articles than other platforms.
Its Digital media strategy looms around Engagement, Quality, and Augmented reality. It maintains
the air of exclusivity by putting across pictures of curated pieces to showcase its superiority. The
Engagement Ring Finder app with augmented reality taps on the emotions of finding the perfect ring
for the occasion, and emotive selling is the new reality of the luxury brand.