Tiffany and Company

4677 Words19 Pages
I. Introduction
The Tiffany & Company is introducing a new product line by the name of Tiffany 's Essentials. The line will offer authentic luxury designer handbags along the lines of Gucci, Chloe, Dior, Fendi, Prada and many more. As concept of luxury changes, marketers of high-end products are wrestling with the challenges of maintaining exclusivity while obtaining higher sales. Having a well-known name as Tiffany and Company we have no limitations to create luxury pieces for the luxury lifestyles. The following paper will emphasize our product, our target market and our marketing objectives as to how we will market our handbag using a vital marketing mix. It will also provide our major competition in both the diamond industry as well
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stores located internationally around the world. You are unable to buy Tiffany 's items at any other stores, such as department stores or discount stores. The others involved in the distribution chain include: wholesalers, brokers, dealers, and retailers. This also becomes easy to resolve because of the fact that Tiffany & Co. is responsible for designing, manufacturing, and selling all of their own products.
D. Price Strategy
Based on the research done on Tiffany & Co. items, it has been concluded that by looking at other possible competitors, the size of the bag, and carat weight of the diamonds on the bags, our line of handbags will range from $10,000.00 to $30,000.00. Tiffany 's is known for their high class items which makes many consumers willing and able to spend the money on expensive items, making this items affordable to many of Tiffany 's loyal customers.

E. What are the distinctive features and competitive advantage(s) of this brand?
The fine jewelry market is highly competitive, but even more so among upscale luxury brands. The top tier rivalries of Tiffany and Company are: Hermès, Bulgari, Cartier, Richemont, and LVMH. Other competitors include: Asprey, Bulova, Chanel, Fortunoff, Gucci, H. Stern, Movado Group, Rolex, Van Cleef & Arpels, and Yves Saint-Laurent Group ("Tiffany & Co."). A critical way to compete for customers within the industry greatly depends on the quality of merchandise, presentation and
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