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Tiffany & Co Swot Analysis

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1.0 Introduction The purpose of this report is to let us develop a basic understanding of key concept of marketing and business functions and the engagement with micro and macro environment. This report will contain about introduce a new product with some recommendations for Tiffany & Co. to expand its business all around the world and to introduce a new product for a new recommended target market that Tiffany & Co. can purpose. In the below it shows background, mission statement, target market, SWOT analysis market segmentation, recommended target market, marketing mix and conclusion will be made in shortly.

1.1 Background of Tiffany and Co In American worldwide, Tiffany and Co is known as a luxury jewellery and specialty retailer. Tiffany …show more content…

The Tiffany and Co company mission statement is: "To be the world’s most respected and successful designer, manufacturer and retailer of the finest jewellery.” According to an official statement from Tiffany & Co. the further define the Tiffany mission by saying, “Tiffany &Co. is the committed to obtaining precious metals and gemstones, and crafting our jewellery in ways that are socially and environmentally responsible.” (Farfan, …show more content…

is counterfeit goods. There is an effect on the sales of branded accessories which is the abundance of counterfeit goods and accessories. An extra challenge for Tiffany & Co in the fight for the counterfeit goods is increasing the online retailing. As the counterfeit trade increase, the company brand equality will lose. It might affect the customer satisfaction and also the company’s image. Next is the US rental rates increased. Since the year of 2004, the retail rents have inflation in US and it causes the operating margins of Tiffany & Co outlets store increase in the operating expenses. Besides that, the Tiffany & Co have the treats that it will slow down the US economy. If the economy in US has slowed down, it will depress the purchasing power of the retail customers which in another way round the revenue growth will depress and reduce the margins in Tiffany & co. As the interest rate increased, it will cause the reduction of customer on spending but it does not augur well for the retail chains like Tiffany. (Data Monitor, 2015)
3.0 Market Segmentation Market Segmentation is a procedure of interpreting and subdividing a huge homogenous industry into clearly recognizable sections having identical needs, wants, or requirement features. Its purpose is to design a marketing mix that accurately suits the objectives of clients in the targeted segment.
3.1 Recommended target

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