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Tiffany & Co.

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by

Sarah Al.

on 24 November 2014

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Transcript of Tiffany & Co.

Done by:
Sarah Alajmi - 137294392

Lina Baskyte - 14135909

Gabriela Tellez - 1458810

Anna Henry - 1457419

Table of Content
1. Brand Overview

2. Brand History

3. The Brand Owning
Organization

4. Brand Value Proposition

5. Brand Communications

6. Brand Category Audit

7. Competition Analysis

8. PESTEL Analysis

9. SWOT Analysis

10. Conclusion

11. Reference List

Brand Overview
Worldwide leading American luxury Company

Established in 1837
- Charles Lewis Tiffany
- John B. Young

Headquartered in New York

Offers distinct types of products:

Jewelleries
Timepieces
China
Crystal
Silverware
Fragrances
stationary
1837
Start of Tiffany
1851
First firm to use 92% sterling
1853
Officially
named
"Tiffany&Co."
1886
Start of engagement rings
1902
Start of Tiffany Art of Jewellery
department
1972- 1986
Overseas expansion, Japan & London
1987
Shares in New York Stock Exchange.
2003
Start of legacy collection
2012
celebrates
its 175th anniversary
Timeline History
The Brand Owning Organization
Overview


Tiffany & Co. - holding company

Operates through its subsidiary companies (The "Company").

The UK holds 10 stores.

Sales
Jewellery represented approximately 90% of net sales in 2012.

Engagement jewellery - 28% of net sales in 2012 (Reuters, 2013).
Brand Value Propositions
Source: (Keller 2013 adapt Tellez 2013)

Physical Attributes:
Exclusive, unique, High-class jewellery; Feminine.

Distinctive functional benefits:
High purity in each diamond, Quality and design.

Distinctive emotional benefits:
Luxury, feeling of success, social approval, romance

“Tiffany’s Onion”

Source: (Keller 2001 adapt Tellez 2013)

Consumer-Based Brand Equity of Tiffany & Co.

Tiffany's Communications
Traditional Communication
Social Media Communication
Direct Mail
Magazine
Newspaper
Billboard Advertising
Tiffany Catalog
Raises positive brand awareness

6.4% of worldwide net sales, on advertising, marketing, public and media relations (Tiffany's Annual Report, 2012)
Tiffany Website
Product Category Audit
The UK Market
Increase in jewellery sector by 2.5% in 2013 compared to the same quarter in 2012.

The UK market will increase by 2.1% each year from 2012-2017.

New Sub-categories
“$150 and under” line.
- to attract young generations


Corporate Social Responsibility
- involved in various kinds of charities.

Men’s jewelleries
- In 2010, rings represented 51% of men's jewellery purchases.

Consumer Behavior Changes in the UK
Significant growth in
women’s jewelleries with
the royal wedding in 2011.

Negative Economic impact on jewellery sector.

Endorsement of e-commerce strategy to increase brand awareness globally.

Competition Analysis
Source: Keller, (2001) adapt Alajmi, (2013).

Major
Competitors:
- Cartier

- Bvlgari
Quality

- Prime quality of diamonds.

Price

- Ranges of high and moderate prices.

Customer Service

- Allows customers to customize design of rings

Brand Image

- Emotional influence
- elegance,
- uniqueness
- love
- Tiffany Blue Box
High rivalry
Positioning Map
PESTEL Analysis of Ring Jewellery Industry of Tiffany & Co.
SWOT Analysis
Conclusion
If Tiffany continues maintaining

- Luxurious
- Unique brand status
- Keep up with the challenges
- Overcome the threats
Likely to perpetuate its success.
(Tiffany & Co, 2013)
(Tiffany & Co.,2013)
(Tiffany & Co., 2013)
(Tulshyan, 2010).
(Tiffany & Co., 2013)
(Euromonitor International, 2013)
(Tiffany’s Annual Report, 2013)
(I2I Events Group, 2012)
(Taylor, 2013)
(Tiffany & Co, 2013)
(Blackburn, 2004)
(Interband, 2013)
(Tiffany & Co., 2013)
Reference List
Annual report, (2013). Tiffany & Co. Legendary for 175 Years. [report] Washington: Tiffany and The Company
Blackburn, S., (2004). Tiffany and company a case study. [online] Available at: <http://smu.edu/ecenter/discourse/blackburn.htm> [Accesed 15 Nov 2013]
Bishop, K., (2013). Tiffany & Co. top ranking brand on Facebook. [online] Available at: <http://www.professionaljeweller.com/article-13476-tiffany-amp-co-top-ranking-brand-on-facebook/> [Accessed 13 Nov 2013]
Clear Channel, (2013). Cambaign Library October 2010. Tiffany & Co. [online] Available at: <http://www.clearchannel.co.uk/useful-stuff/media-library/campaigns/2010/campaign-library-october-2010/tiffany-co > [Accessed 10 Nov 2013].
Mind Tools, (n.d.). Keller’s Brand Equity Model. [online] Available at: <http://www.mindtools.com/pages/article/keller-brand-equity-model.htm> [Accessed 16 Nov 2013].
Interbrand, (2013). Best retail brands 2012. [online] Available at: <http://www.interbrand.com/Libraries/Branding_Studies/Best_Retail_Brands_2012.sflb.ashx> [Accessed 15 Nov 2013]
I2I Events Group, (2012). The UK Jewellery Market Opportunity. [report] Available at: <http://www.thejewelleryshowlondon.com/files/i2i_booklet_jewellery_6_lo_res.pdf> [Accessed 10 Nov 2013].
Reuters, (2013). Tiffany & CO (TIF). [online] Available at: <http://www.reuters.com/finance/stocks/companyProfile?symbol=TIF> [Accessed12 Nov 2013]
Taylor, R., (2013). Report: The future of luxury jewellery sales. [online] Available at: <http://www.professionaljeweller.com/article-12955-report-the-future-of-luxury-jewellery-sales/> [Accessed 12 Nov 2013]
The Assay Office, (2013). Jewellery Market Stats. [online] Available at: <http://www.theassayoffice.co.uk/market_trends.html> [Accessed 13 Nov 2013]
Tiffany & Co, (2013). Brand Positioning - Competitor Analysis. [online] Available at: <http://brandtiffanyandco.wordpress.com/brand-positioning/> [Accessed 27 Oct 2013].
Tiffany & Co, (2013). Tiffany & Co. Corporate Responsibility. [online] Available at: <http://www.tiffany.co.uk/CSR/> [Accessed 12 Nov 2013]
Tiffany & Co, (2013). History. [online] Available at: <http://brandtiffanyandco.wordpress.com/history/> [Accessed 27 Oct 2013]
Tiffany & Co, (2013). $150 and Under. [online] Available at: <http://www.tiffany.com/Shopping/CategoryBrowse.aspx?cid=563630#p+1-n+10000-c+563630-s+5-r+-t+-ni+1-x+-pu+-f+-lr+-hr+-ri+-mi+-pp+> [Accessed 15 Nov 2013]
Tulshyan, R., (2010). Men’s Jewellery: A Recession – Proof Luxury. [online] Available at: <http://content.time.com/time/business/article/0,8599,2006189,00.html> [Accessed 13 Nov 2013]
The Assay Office, (2013)
Tiffany's Promise:
Slogan: “There is only one love”
“Bring her home the Little blue box”
Brand & Branding - BMKT503
Module leader:
Anna Zacharewicz
Full transcript