Loading presentation...

Present Remotely

Send the link below via email or IM

Copy

Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.

DeleteCancel

Make your likes visible on Facebook?

Connect your Facebook account to Prezi and let your likes appear on your timeline.
You can change this under Settings & Account at any time.

No, thanks

Copy of Tiffany & Co

Marketing Presentation
by

Oleg Poliak

on 6 November 2013

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of Copy of Tiffany & Co

Financials
History...
True Love
Recommendation
Founded in 1837 by Charles Lewis Tiffany and John F. Young.

Tiffany was the first company in USA which offered customers free gift Blue Boxes

The first store was opened in Manhattan and called “Tiffany Young and Ellis”

The first Tiffany's catalog, known as the "Blue Book", was published in 1845

Forbes ranked diamond pendant in platinum from "Tiffany" a $ 2.5 million one

At present, Tiffany works in about 250 stores worldwide, more than 100 are in the USA
“True Love
knows the Secrets”

Market
Benefits
"True Love is
Everywhere”
24/7 on-line chat
Increased number of potential customers
Higher revenues from E-commerce activities
Stronger presence on the global scope.
Additional competitive advantage over the Zales, Bulgary, Cartier, Pandora
Market exposure:
Selective distribution
3 segments:
Americas
Asia-Pacific
Europe

Cons:
Cares 24/7
Improving its customer service relations
In-depth analysis of customers’ behavior and major motives for purchases
Correct strategic focus identification.


Age:18+
Social Class: Upper Class
Cartier
BVLGARI
Chopard
Fred Leighton
Strategic Alternatives for Tiffany&Co
E-commerce
http://econsultancy.com/pl/blog/63262-how-tiffany-co-uses-facebook-twitter-pinterest-and-google

http://vk.com/away.php?to=http%3A%2F%2Fru.scribd.com%2Fdoc%2F127238452%2FSocial-Media-Marketing-Analysis-of-Tiffany-Co

http://brandtiffanyandco.wordpress.com/brand-positioning/
Strategic actions:

Launch its Android and i-Phone application for major cities in Singapore, Italy, Australia, Canada and some others.

Expand its delivery options as well as e-commerce activities on emerging markets

Launch social media channels campaigns on the popular local web-sites on the local markets rather than using only US oriented channels

Established a strong online presence to increase exposure of its brand worldwide.

Website &
Instagram campaign TrueLovePictures

Facebook & Twitter
Engagement ring app
What Makes Love true app
Target Market
THANK YOU FOR YOUR ATTENTION!

Q&A?

Competitors
“True Love Cares
24 hours/7 days a week”
“True Love is everywhere”
“True Love knows the Secrets”
Sources
SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
Brand is a “Lovemark”

#1 Jewelry and Watches Company according to Digital IQ Index

Leading position in main social media activities

Emotional attachment of consumers


Tiffany’s products are discretional

E-commerce poor support service

Digital activities focus primary on American market

Low costs for product substitution


On-line platforms development in emerging markets

English language globalized knowledge

New CRM tools development

Feasibility of crowdsourcing


Fierce competition and high substitution rate

Counterfeit on-line presence

Diamonds’ commodity price behavior

High rate of customers’ uncertainty

Tiffany’s brand stronger emotional perception
New Differentiation feature through in-service feature
Increased web-site visits after the “positive word of mouth”
Increased revenues due to trust issues fixing through constant client communication and support
Benefits
“True Love is everywhere”
OUTSOURCING
Method
Exclusive on-line consultant that will support customer on each stage of on-line purchasing
24/7 e-mail and phone calls for Tiffany related consultations
Tiffany&Co Net Revenue Performance and
E-commerce Revenue Evaluation
E-COMMERCE
ACTIVITIES & MARKETING
Benefits:
Done by: Anna Perelygina
Oleg Polyak
Roman Panchuk
Outline
E-COMMERCE EVALUATION


PRODUCT LINES
Engagement rings...
Jewellery: Tiffanys Victoria
Tiffanys Sparkles
Accessories
Watches
Watches
Traditional Process VS Online Process
Categories
Product range
Product tangibility
Price
Location
Delivery
Traditional
Problem of accommodating large varieties of products
Online
Time
Shopping environment
Info-Search
Availability
After-sale service
Security
Ability to show many products and customize visualization
Physical demonstration of the product
Ability to negotiate the price and discounts
The stores are located in particular regions
Products can be picked at the Point Of Sale only
Working hours, time to get to the shop
Crowded stores, unpleasant customer assistance
Product characteristics are available at the store
Physical availability of product at the POS
Product can be replaced or repaired directly at the POS
Armored Guards

Product cannot be touched or felt
Usage of "Free-shipping" tool, only marketed price
The store is in every computer connected to internet
Products are delivered by delivery service
Online shop is open at any convenient time
In a pleasant atmosphere at home
Product description with feedback from customers
Notification for consumer about expected delays
Products need to be sent back to distribution center by mail
Firewalls, SSL-EV, Encryption, protected servers
INDUSTRY ANALYSIS
P5S
RIVALRY AMONG COMPETITORS
Presence online
Market position
Segment definition
Global presence at elegant stores in the best “high street” and luxury mall locations
Luxury atmosphere
Economic welfare effect on PP
After-sales service
P5S
THREAT OF SUBSTITUTE
Precious metals and gems
Lower prices
Low switching costs to customer
Domestic retail
Other luxury products
P5S
THREAT OF NEW ENTRANTS
Diamonds suppliers
Brand establishing time
Market response
Regulations
Technology and skills
Media presence
S
US
L
P5S
BARGAINING POWER OF BUYERS
Sensitive products
Sales depend on economic conditions
One-time customer
Customer membership
Low switching costs to other brands
Luxury quality
H
P5S
BARGAINING POWER OF SUPPLIERS
Commodity prices set by supply and demand
Long contracting
Jewelers scarcity
Few suppliers
Political situation
High transportation expense
Risk
H
Key Success Factors
Technology
Use of online shops with secured log in and SSL protection when purchasing

Use of digital media

Mobile applications and official site mobile version

Striving for innovation

Marketing
Advertisement in men magazines
Promotion on TV
OOH promotion on billboards
Facebook communication page with 4.5 million subscribers
Charity activities that attracts attention of newsmakers
Visualization of product
Brand maintenance
Loyalty membership


Distribution
Worldwide distribution
Online shop
Luxury stores spread in majority of developed countries
Merchandise to independent distributors for resale in certain emerging markets
B2B targeting – Business account



Skills
Customer service lines
After-sale customer service
Sourcing the best designers
Sourcing the best jewelers
Commitment to social responsibility



Strategic approach
Focused differentiation strategy

Company addresses to narrow of consumers – Worldwide luxury seeking customers, wives/husband, engagement planners

Company gives its customers more value for the money. Tiffany & Co keeps costs relatively the same, or higher, than competitors, but offers a luxury quality

Marketing Emphasis - Company makes quite moderate marketing investments, focusing on a quality/value perception and psychological needs (~7% from revenue goes for advertising)
Expensive CRM cost
Even in-depth customers' research and analysis will not guarantee the Tiffany's further success
1. History Overview
2. Tiffany's product lines
3. Target audience
4. E-commerce activities & Marketing
5. Traditional vs On-line processes
6. Porter's 5 forces analysis for Tiffany&Co external environment
7. Key Success Factors of Tiffany
8. SWOT Analysis
9. Strategic alternatives
10. Recommendation
Full transcript