Tiffany & Company

Powerful Essays

Open Document

Open Document

View Writing Issues

932 Words

Grammar

Grammar

Plagiarism

Plagiarism

Writing

Writing

Score

Score

Tiffany & Company

Weighted Competitive Strength Assessment

The Weighted Competitive Strength Assessment compares Tiffany & Co. with its closest competitors using some of the key success factors and strength measures in the jewelry industry. The following is a weighted competitive assessment chart; this lists the strength measures, weights, and the overall scores.
|Competitive Strength |Importance Weight |Tiffany & Co |LVMH |Signet Group |Blue Nile |
|Measure | | | | | |
| | |Strength |
| | |Rating |

Tiffany and Company is a jeweler and specialty retailer. Tiffany has adopted multiple direct distribution channels. This strategy has enabled the company to emerge as a prominent player in the jewelry and specialty retailer segment. However, as counterfeit trade increases, the company stands to loose its brand equity. But as shown in the Weighted Competitive Strength Assessment chart, it can be said that Tiffany & Co holds strong reputation and brand image. Tiffany & Co.’s greatest strengths are ‘Strong Brand Name’, ‘Strong Direct Selling Strategy’, ‘Broad Offerings’ and ‘Strong Balance Sheet’. The company also has very good scores in customer service/ customer satisfaction, relative market share and relative cost position. Overall Tiffany & Co. is one of the leading brand names in the fine jewelry market; and also one of the world’s premier jewelry designers and retailers. The company’s leading brand name provides it with an edge over its competitors.

Continue Reading

You May Also Find These Documents Helpful

Good Essays
Kudler Market Structure
- 1203 Words
- 5 Pages
Kudler Market Structure

By use of the intranet website of the company there was tools and resources available to make an accurate picture of the company. Thus allow identification of the company’s strengths and weaknesses. The strengths of the company allows the company to sustain itself in the marketplace. However the company’s weaknesses imposes threats to the company to remain a leader in its current region. The company is an oligopoly market structure, because there are only a handful of similar stores that offer same products and services in its area. If the company imposes the recommendations, the company will be able to take a substantial lead in the market, and also began an adventure to become nationally known and become a profitable franchised…
- 1203 Words
- 5 Pages
Good Essays

Read More
Good Essays
Nordstrom Swot Analysis Essay
- 612 Words
- 3 Pages
Nordstrom Swot Analysis Essay

“The company’s strong operating performance, multi channel operations and strong specialty store network are it key strengths, even as concentration on the US market remains an area of concern.”…
- 612 Words
- 3 Pages
Good Essays

Read More
Powerful Essays
Coach Inc. Case Analysis
- 1060 Words
- 5 Pages
Coach Inc. Case Analysis

The profit potential that exist in the luxury goods industry could be better understood through an analysis of Porter’s five forces model. Starting with the threat of entry, the industry is unlikely to have new entrants because of the sustained competitive advantages of the existing successfully luxury brands. Leading companies such as Coach, Michael Kors, Salvatore Ferragamo, Prada, and etc. all have brand name recognition due to their success and popularity. According to the article, “To be unique and exclusive you cannot be ubiquitous.” (Gamble, 2015, C-81) For instance, Coach, Inc. strengthened their brand by becoming a leader in their accessible luxury segment by focusing on being unique in this market. Coach, Inc. and the other popular brands, have strong personal identifications because of the strategies they put in place. For this reason, new entrants to the market will have trouble attracting consumers who stand strong with the popular brand because of their loyalty. The power of suppliers within the industry for the luxury good market is low as the industry is not very concentrated. Materials to produce luxury goods, such as leather, are supplied in various countries throughout the world. For Coach, Inc. the case states, “All of the company’s leather products were manufactured by third-party suppliers in Asia.” (Gamble, 2015, C-71) Since Coach and the other…
- 1060 Words
- 5 Pages
Powerful Essays

Read More
Satisfactory Essays
Company Case Study: J. C. Penney Co.
- 54 Words
- 1 Page
Company Case Study: J. C. Penney Co.

This case study about J. C. Penney Co. is about how a company is endeavoring to increment profitability by attracting the best assets in business and customers. Lowering prices, marking down prices, and offering standardized products rather than unique and “designer” (Case Study, pg. 2) product are what this company's strategy is all about.…
- 54 Words
- 1 Page
Satisfactory Essays

Read More
Powerful Essays
Macy's Integrated Marketing Plan
- 6813 Words
- 28 Pages
Macy's Integrated Marketing Plan

Macy’s has various strengths and weaknesses to its brand name, along with the fact that the entire department store industry is subject to different opportunities and threats. Strengths that Macy’s has include its strong brand recognition, purchasing power and a mixture of new and old marketing channels. The fact that Macy’s is one of the best…
- 6813 Words
- 28 Pages
Powerful Essays

Read More
Satisfactory Essays
Chapter 5 Slides
- 323 Words
- 2 Pages
Chapter 5 Slides

Use the financial ratios in Table 4.1 of Chapter 4 as a guide in doing the calculations needed to arrive at an analysis-based answer to your assessment of Blue Nile’s recent financial performance. 7. Does Blue Nile have adequate competitive strength to go head-to-head against its rivals? Do a weighted competitive strength assessment using the methodology presented in Table 4.4 on p. 123 of Chapter 4 to support your answer. Has Blue Nile built a sustainable competitive advantage in the online retail jewelry business?…
- 323 Words
- 2 Pages
Satisfactory Essays

Read More
Satisfactory Essays
19e CaseAsssignmentQuestionsTNCase 8
- 271 Words
- 2 Pages
19e CaseAsssignmentQuestionsTNCase 8

How strong are the competitive forces confronting Tiffany & Co. and other retail jewelers? Which one of the…
- 271 Words
- 2 Pages
Satisfactory Essays

Read More
Good Essays
Assignment week 5
- 1372 Words
- 4 Pages
Assignment week 5

Selecting competitors to attack and avoid: Now that the company knows their competitors better, they need to asses which competitors they are going attack and avoid. Most companies like to compete against the smaller and weaker competitors, because it requires less time and fewer resources. This also means that they would gain little, while if they would attack the stronger competitors, and win, they would have bigger gains. A useful tool for assessing competitors strengths and weaknesses is the CVA (customer value analysis). It basically shows the major attributes customers value so a company can assess its performance and the performance of their competitors in these attributes.…
- 1372 Words
- 4 Pages
Good Essays

Read More
Powerful Essays
Audit Plan for Dollarama
- 14683 Words
- 59 Pages
Audit Plan for Dollarama

An attractive method used to obtain an understanding of the client’s position in the industry is through an analysis of the Porter’s five forces model of competition. It is based on five forces that determine the competitiveness and the attractiveness of a market. Attractiveness refers to the context of profitability. An attractive industry is one in which a company’s overall profitability is rising and as such, three of the five Porter’s forces are external and the other two are internal. Thus, by analyzing the industry Dollarama is operating in, we can achieve both an understanding of the industry and its position within this industry as well as assess the inherent risk of the company.…
- 14683 Words
- 59 Pages
Powerful Essays

Read More
Powerful Essays
Tiffany Case Analysis
- 1787 Words
- 6 Pages
Tiffany Case Analysis

Tiffany and Company is one of the leading U.S. luxury jewelry brands, and their telltale “little blue box” has become a coveted item by women everywhere. Tiffany & Co. was founded in 1837 by Charles Tiffany and John Young and has grown to generate more then $2.6 billion in revenue through their 167 global retail outlets. The growth strategy that has seen them through their long reign is “growth without compromise”. In 2007, due to objections from their largest shareholder, Tiffany began looking at strategies to increase shareholder value. Two options were presented; opening new stores at a faster rate, and licensing Tiffany to an established Italian fashion-eyewear manufacturer/distributer.…
- 1787 Words
- 6 Pages
Powerful Essays

Read More
Good Essays
Tiffany and Co
- 1326 Words
- 4 Pages
Tiffany and Co

In 1837 Charles Lewis Tiffany and John F. Young opened Tiffany & Young, with $1,000 in backing from Tiffany's father. This store was located on Broadway and was opposite of Manhattan's City Hall Park. The first store sold stationery and a variety of "fancy goods," including costume jewelry. Unlike other stores of the time, Tiffany featured plainly marked prices that were strictly enforced to, sparing the customer the usual practice of haggling with the owner or sales man. Tiffany also departed from the norm by insisting on cash payment rather than extending credit or accepting barter. Tiffany's also sold watches and clocks, a variety of ornaments and bronzes, perfumes, hair and skin products, dinner sets, moccasins, belts, and numerous other cute knick knacks. Charles also = introduced sterling silver to the United States in 1852, a year after contracting John C. Moore to produce silverware exclusively for Tiffany's.…
- 1326 Words
- 4 Pages
Good Essays

Read More
Satisfactory Essays
IMC Plan
- 4936 Words
- 20 Pages
IMC Plan

This plan includes a promotion opportunity analysis, corporate strategies and our IMC Objectives: Consumer and Distribution. This plan will also include an advertising plan, promotions, personal selling, sponsorships and database programs. Additionally, a media plan and methods of evaluating the success of this IMC plan are described. HOLA is a unique and high-end jewelry brand that wants to introduce beautiful fashion statement. Not only will we sell a beautiful fashion statement but a great concept along with the brand that will give us the opportunity to enhance our brand image. Our products will be offered in sterling silver and gold with multiple designs of earrings, bracelets, rings and necklaces. This brand is primarily offered to Hispanics in the USA. The main idea is to bring a sense of unity and pride among Hispanic Americans living in the USA. They will not only love the fact of wearing beautiful jewelry, but the fact to be supporting Hispanic non-profit organizations by buying our products. Since HOLA is a new brand that will be launching in the beginning of 2009, we want to make sure to create brand awareness among potential customers and future distribution partners by advertising in various medias. Our main objectives for this IMC plan are to build a strong brand image, to develop brand awareness and to enhance the firm image. On the other hand, we also want to encourage…
- 4936 Words
- 20 Pages
Satisfactory Essays

Read More
Better Essays
2.7 Communityin Tiffany's Case: Tiffany & Co
- 1326 Words
- 6 Pages
2.7 Communityin Tiffany's Case: Tiffany & Co

2.7 CommunityIn Tiffany's case, the community would be the people surrounding the mine where Tiffany's suppliers extract their raw materials. They care about job creation, training and expansion. In addition, they care about the environmental impact the mine operations will have in the community, for example, pollution from the machines. 3 Customers and clients and their preferencesAs the top jewelry company in the industry, Tiffany & Co.'s strategy is create a premium image and establish a newly renovated industry to target relatively youngercustomers. Also, they have a number of competitive advantages, which include high customer satisfaction, in-trend jewelry designs that are more favored by young generations, and broad distribution capacities.…
- 1326 Words
- 6 Pages
Better Essays

Read More
Good Essays
Tiffany & Co Strategic Audit
- 4430 Words
- 18 Pages
Tiffany & Co Strategic Audit

Tiffany & Co. has long been renowned for its luxury goods, especially jewelry, and has sought to market itself as an arbiter of taste and style. Tiffany's designs, manufactures, and sells jewelry, watches, and crystal glassware. It also sells other timepieces, sterling silverware, china, stationery, writing instruments, fragrances, leather goods, scarves, and ties. Many of these products are sold under the Tiffany name, at Tiffany stores throughout the world as well as through direct-mail and corporate merchandising. Goods are also sold wholesale to third-party distributors. Jewelry accounted for two-thirds of Tiffany's sales volume in fiscal year 1994.…
- 4430 Words
- 18 Pages
Good Essays

Read More
Good Essays
Strategic Brand Management:A European Perspective
- 1124 Words
- 5 Pages
Strategic Brand Management:A European Perspective

Strategic Brand Management 2e provides a comprehensive and up-to-date treatment of the subjects of brands, brand equity, and strategic brand management. Strategic brand management involves the design and implementation of marketing programmes and activities to build, measure, and manage brand equity. The book aims to provide managers with concepts and techniques to improve the long-term profitability of their brand strategies. It incorporates current thinking and developments on these topics from both academics and industry participants. It also combines a comprehensive theoretical foundation with numerous practical insights to assist managers in their day-to-day and long-term brand decisions.…
- 1124 Words
- 5 Pages
Good Essays

Read More

Related Topics