Tiffany & Co Marketing Plan

5298 Words Jul 22nd, 2009 22 Pages
MARKETING PLAN

I. Executive summary………………………………………………………………………3 A. History of Tiffany & Co……………………………………………………………....3 II. Current marketing situation ………………………………………………………………7 A. Market overview……………………………………………………………………..7 i. Market demographics and needs…………………………………………….6 ii. Market trends and target market growth…………………………………….10 B. SWOT analysis………………………………………………………………………11 i. Strengths …………………………………………………………………….11 ii. Weaknesses……………………………………………………………........12 iii. Opportunities………………………………………………………………...12 iv. Threats………………………………………………………………………13 C. Competitive and industry analysis
…show more content…
By 1870 Tiffany & Co. had become America's premier purveyor of jewels and timepieces as well as luxury table, personal, and household accessories. At the turn of the 20th century the company had more than one thousand employees and branches in London, Paris, and Geneva.
In 1878 Tiffany acquired one of the world's largest and finest fancy yellow diamonds from the Kimberley diamond mines in South Africa. Under the guidance of Tiffany's eminent gemologist, Dr. George Frederick Kunz, the diamond was cut from 287.42 carats to 128.54 carats with 82 facets (most brilliant-cut diamonds have only 58), which gave the stone its legendary fire and brilliance. Designated the Tiffany Diamond, the stone became an exemplar of Tiffany craftsmanship. In 1886 Tiffany introduced the engagement ring as we know it today—the Tiffany® Setting— an innovation that lifts the diamond above the band with six platinum prongs, allowing a more complete return of light from the stone and maximizing its brilliance. Today the Tiffany Setting continues as one of the most popular engagement ring styles and shining symbol of the jeweler’s diamond authority. During New York’s Gilded Age, Tiffany was prospering as never before. At the same time, the world had embarked on the Age of Expositions, the era of show-stopping extravaganzas that took place in the last decades of the 19th century and into the 20th in Paris, Chicago, Buffalo and St. Louis. At every venue,

More about Tiffany & Co Marketing Plan

Open Document