New Product Development and Business Plan for Tiffany & Co. by Leonardo Fonseca

New Product Development and Business Plan: Tiffany & Co. Leonardo Fonseca LXFM-501-OL

Index Executive Summary………………………………………...………………………………...Pg.3 Vision and Mission Statement……………………………………..………………………Pg.4-5 Company Background…………………………………………………..…………………...Pg.6 Company Description……………………….………………………………...........................Pg.7 • Product and Service………………………………………………………………….Pg.8 • Production and Supply Chain……………………………………........................Pg.9-10 • Environmental Factors……………………………………………..………………Pg.11 Company Structure…………………………………………………………..……….…Pg.12-14 Financial Statements………………………………..………………………………...…Pg.15-18 Market and Industry Analysis: • Jeweler and Diamond Markets…………………………………………………Pg.19-21 • P.E.S.T. Analysis…………………………………………………………….…..Pg.22-23 • Growth Potential and Opportunities………………………………………………Pg.24 • Barriers and Threats……………………………………………….……………….Pg.25 • Key Success Factors………………………………….……………………………..Pg.26 Competition……………………………………...………………………………………Pg.27-30 S.W.O.T……………………………………………………………………..…………….....Pg.31 Competitive Advantages……………………………..…………………………………..…Pg.32 Branding Materials………………………………………...……………………………….Pg.33 Marketing Strategy: • Selling Proposition……………………………………….………………………….Pg.34 • Marketing Goals and Objectives……………………….………………………..…Pg.34 • Brand Positioning…………………………………………………………………..Pg.35 Target Market Segmentation……...……………………………………..…………………..Pg.36 • Geographic………………………………………………………….……………….Pg.37 • Sociographic………………………………………………………….……………...Pg.38 • Lifestyle Board…………………………………………………………….………...Pg.39 Marketing Mix Overview…..…………………………………………………...……………Pg.40 • Marketing Mix…………………………………………………………….……..Pg.41-42 • Merchandising Map………………………………………………………………...Pg.43 • Merchandising Plan……………………………………………………………..Pg.44-45 Brand Merchandise Board…………………………………………………………………Pg.46 Marketing Mix Strategies: • Marketing Promotion……………………………………………………………….Pg.47 • Marketing Calendar…………………………………………………………..…Pg.48-49 • Advertising Draft……………………………………………………………………Pg.50 • Service Strategy…………………………………………………………………..…Pg.51 Financial Data……………………………………………………………………………Pg.52-53 Measurement and Evaluation…………………………………………………………..….Pg.54 Risk Analysis………………………………………………………………………….…Pg.54-55 Long Term Strategy……………………………………………………………………...…Pg.56 References………………………………………………………………………………..Pg.57-59

Executive Summary Tiffany & Co. holds the leading position in the fine jewelry industry with a deep history since 1837. This public company is worth more than $5.4 billion and has become one of the most well known companies in the world, ranked 76th top best global company. For over 170 years, the name of Tiffany & Co. has been synonymous with romance, style, quality and luxury. Although the company has been staying successful in the fine jewelry industry it continues to expand its consumer market by expanding its product line to offer a wide range of other premium luxury goods. Despite the fact that Tiffany & Co. currently holds a leading position within the fine jewelry industry, brand and product extensions are a useful tactic for this world’s premier luxury brand to survive and prosper in an increasingly competitive environment over the immediate and long term future. All of this can be achieved without compromising their style and class. This product and development plan first conducts a thorough scanning in the form of brand and market analysis. It presents an opportunity which Tiffany can capture to achieve economic growth and expand to evolving demographic markets. The Company already shows strong brand recognition and must maintain it that way to be perceived as a threat to their competitors. After identifying a new product development for the target market and objective, a marketing strategy was formulated, detailing the processes needed to debut this new product known as the Tiffany’s Cellphone Case. The report will be comprised of the company research, potential market analysis, a product-development plan and a marketing promotion plan. The information found gives a better insight into the company’s success and effectiveness, explaining how the it can continually stay active within the market.

Mission and Vision Statement Tiffany defines itself with its social and environmental responsibility mission. According to an official statement from Tiffany & Co. CEO and Chairman Michael Kowalski further defined the Tiffany corporate mission by saying, "Tiffany & Co. is committed to obtaining precious metals and gemstones, and crafting our jewelry in ways that are socially and environmentally responsible and to be the world’s most respected and successful designer, manufacturer and retailer of the finest jewelry." Tiffany & Co.’s objective is to maintain an ethical business that is qualitative and sustainable. The company strives to protect the interests of stockholders by making responsible decisions that show the brand's righteousness. Also, Tiffany & Co. understands how important it is to enhance the environmental performance of the company. It continuously works with the employees, supply chain, stockholders, local communities and civil society to build up the company's social impact and diminish its environmental impact.

Tiffany Mission Statement •

Tiffany & Co. seeks to enrich the lives of its customers by creating enduring objects of extraordinary beauty that will be cherished for generations.

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Our mission to be recognized as the worlds most respected and successful designer, manufacturer and marketer of the finest jewelry, timepieces, selected accessories and tabletop products. Success in achieving our overall mission is defined in terms of specific product, service and stakeholders missions.

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Our product mission is to produce objects of timeless design using the purest materials and exhibiting the finest craftsmanship. Our products represent the world of good taste. Tiffany products do no go out of style and remain above the whim of fashion. They offer our customers lasting value and hold their beauty and excitement from one generation to the next.

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Our services mission is to be recognized for the warmth, graciousness and efficiency of our sales and service professionals. We will engage our customers in consulted dialogue, share our expert knowledge and build enduring relationships with them. We will unfailingly honor our commitments.

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Our stakeholder mission reflects our commitments to our employees, our stakeholders, and the communities that sustain us.

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For our employees, we will create an environment that recognizes and reward creativity, initiative, dedications and respects diversity, dignity and the shared values of community and family.

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We will respect the laws, customs, and values of our communities and work to enrich those communities through the participation of our employees in civil society and through our financial support of community aspirations.

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For our stakeholders, we will seek to generate superior financial returns with business, accounting and ethical practices that exhibit integrity and transparency. 5

Company Background In 1837 New York became the proving ground for 25-year-old Charles Lewis Tiffany and John B. Young, who opened a “stationery and fancy goods” store with a $1,000 advance from Tiffany’s father. At Tiffany & Co. They discovered a newly emerging “American style” that departed from the European design aesthetic, which was rooted in ceremonial patterns and the Victorian era’s mannered opulence. The young entrepreneurs were inspired by the natural world, which they interpreted in patterns of simplicity, harmony and clarity. Tiffany’s first achieved international recognition at the 1867 Paris World’s fair. The company was awarded the grand prize for silver craftsmanship, the first time that an American design house had been so honored by a foreign jury. Tiffany was the first American company to employ the British silver standard (92% pure). Largely through the efforts of Charles Lewis Tiffany, the U.S. Government adopted this standard. Since 1878, the signature Tiffany Blue color has distinguished the catalogue’s cover, as well as the famous Tiffany Blue Box, an icon of style and sophistication. In 1886 Tiffany introduced the engagement ring, as we know it today. Previously, diamond rings were set in bezels. But Mr. Tiffany’s ring was designed to highlight brilliant-cut diamonds by lifting the stone off the band into the light. This famous ring was named the Tiffany Setting. To this day, it is the most sought-after symbol of true love. This priceless gem is symbolic of a heritage based on the highest standards of quality and design excellence. These standards have made Tiffany & Co. One of America’s great institutions, a world-renowned jeweler with over 200 stores worldwide, and something more: the trusted maker of gifts that will be treasured for a lifetime.

Company Description Tiffany & Co. is a holding company that operates through its subsidiary companies (the "Company"). The Company's principal subsidiary, Tiffany and Company, holds the leading position in the fine jewelry industry with a deep history since 1837. This public company is worth $5.4 billion and has become one of the most well known companies in the world. For over 170 years, the name of Tiffany & Co. has been synonymous with romance, style, quality and luxury. Although the company has been staying successful in the fine jewelry industry, being the cause of 92% of their sales, it continues to expand its consumer market by expanding its product line to offer a wide range of other premium luxury goods including timepieces, sterling silverware, china, crystal, stationery, fragrances and accessories. Tiffany has broadened its merchandise mix to include key chains and other items that sell for much less than the typical Tiffany price tag. Many products are packaged in the company's trademarked Tiffany Blue Box. The company sells its goods exclusively through 275 Tiffany & Co. Stores and boutiques worldwide, its website, business-to-business accounts, and catalogs. The most important asset of the company is the strong, well-defined brand. Beyond the trademark name and the Tiffany Blue Box, the brand has developed into one of the best- known symbols for quality, prestige and value in retailing, and the value of this brand is expected to continue to increase over the long term.

Product Service and Liabilities Tiffany & Co. is deeply involved in charitable activities giving generous donations for the support of arts, education, health and environment. Tiffany & Co. also donates its products to non-profits for charitable causes. The Tiffany & Co. Foundation was established in 2000 to focus the company's philanthropic endeavors by providing grants to nonprofit organizations working in two main program areas: the environment and the arts. The Foundation shows a special appreciation for, and commitment to, advancing the arts by supporting the critically important work of educational, artistic and cultural institutions dedicated to excellence in decorative arts design through the creation of gallery spaces and support of education in the field of design and the decorative arts. To maintain the company’s image as a reputable and exclusive jewelry retailer, part of the company’s strategy is its determinacy in protecting its intellectual property rights. The company also takes pride in protecting its trademarks such as: TIFFANY & CO., TIFFANY, RETURN TO TIFFANY and also more importantly, its blue boxes. As the brand is highly susceptible to counterfeits, the company is pushing for greater legal support to combat the sale of counterfeit goods. Although it has successful crackdown with individual counterfeit websites and is continuing to do so, the company proved to have little success in the world’s largest online trading community, Ebay. The company lost to Ebay in the 2004 lawsuit and an appeal in 2010 to pursue Ebay for trademark infringement for selling counterfeit goods on its website. As Ebay cannot be held liable for fraudulent vendors, the company needs to re-strategize in order to penalize these vendors.

Production and Supply Chain Tiffany produces jewelry in New York, Rhode Island and Kentucky, and silver hollowware in New Jersey. Other subsidiaries of the Company process cut and polish diamonds at facilities outside the U.S. In total, those manufacturing facilities produce approximately 60% of Tiffany merchandise sold. The balance, including almost all non-jewelry items, is purchased from third parties. Factors considered by management in its decision to use third party manufacturers include product quality, gross margin, access to or mastery of various jewelrymaking skills and technology, support for alternative capacity and the cost of capital investments. The vast majority of diamonds purchased by Tiffany originate from Australia, Botswana, Canada, Namibia, Russia, Sierra Leone and South Africa. The Company has established diamond-processing operations that purchase, sort, cut and/or polish rough diamonds for use by Tiffany. Operations in Botswana, Namibia and South Africa are conducted through companies in which third parties own minority interests. Tiffany maintains a relationship and has an arrangement with these third parties in each of those countries, although the Company may choose to supplement its current operations with alternative mine operators from time to time. Its operations within these countries allow it to access rough diamond allocations reserved for local manufacturers. In order to acquire rough diamonds, the Company must purchase mixed assortments of rough diamonds. It is thus necessary to purchase some rough diamonds that cannot be cut and polished to meet Tiffany’s quality standards and that must be sold to third parties. Tiffany & Co. crafts the majority of its jewelry in its own workshops and nearly all of the packaging and paper comes from sustainably managed forests. These workshops are the finest in the jewelry industry, meeting the highest standards for safety, cleanliness and a productive, welcoming environment. 9

The Company sets examples, both through advocacy and example in working toward a more responsible jewelry industry. They were the first jeweler to embrace the objectives of the No Dirty Gold campaign in 2005, a promise not to source gold from mines that do not meet certain social and environmental standards. Government oversight has an important role to play in the jewelry supply chain. The Company is strong and vocal advocates of the reform of the General Mining Law of 1872, and believe the U.S. Environmental Protection Agency should use its legitimate authority to halt reckless mine development. Tiffany’s is a founding member and strong supporter of IRMA, the Initiative for Responsible Mining Assurance. IRMA seeks to develop standards that ensure the preservation of ecologically and culturally significant areas, rigorous environmental management, strong protection for workers and affected communities and corporate governance standards to assure transparency in revenue payments from companies to governments. Traceability is key to ensuring that mines are operated in environmentally and socially responsible ways. They have established rigorous standards for responsible mining that guide decisions about which mines we directly source from. To that end, they have direct sourcing relationships with mines around the world. In many cases the output of those mines is delivered directly to Tiffany’s own diamond cutting and polishing facilities.

Environmental Factors The mining of diamonds, gemstones and precious metals is Tiffany’s most direct and significant impact upon the natural world. Recognizing that mining by definition is not sustainable, they believe mining practices can and should minimize impacts upon air, surface and ground water, landscapes and biodiversity. Recognizing that mining is of critical importance to the business, its care contributes in important ways to economic development and job creation. In their manufacturing and distribution facilities, they are implementing a variety of energy saving programs, including the use of solar arrays. Internal operations have a modest carbon footprint; Tiffany and Co. is taking important steps to evolve all their workspaces to reduce climate change impacts. In New York City, corporate offices were consolidated according to the LEED® green building certification program. The offices are LEED certified to the Platinum level, the highest level possible, recognizing efforts to reduce energy use and other environmental impacts. The company believes that one of the most effective ways to minimize the impact of mining is to source precious materials from existing, responsibly operated mines, and to utilize recycled sources wherever possible. The belief that there are certain special places of high ecological or cultural value, they are conscious that mining should never take place in some areas.

Company Structure and Organization Employees are one of the greatest assets of the company. Tiffany invests a great deal of money and time to groom its employees to dedicated service professionals. A variety of resources and ample opportunities are provided for its employees to improve their personal development and progression in the company. Different types of training are provided in the following areas: Product, Technical, Leadership and Professional Development. The company also has a tailored program referred as the Retail Management Associate Program, which advances employees with outstanding performance to Assistant Manager positions at a retail location after they have completed a specialized training program.

Tiffany and Co.’s company policy provides equal employment opportunities to all employees and candidates for employment without regard to age, race, religion, creed, color, national origin, alienage or citizenship status, sex, marital status, sexual orientation, gender identity, genetic information or disability. This policy applies to all terms and conditions of employment, including hiring, placement, promotion, compensation, transfer and termination. Further, the Company investigates all complaints of discrimination, to the extent permitted by applicable laws, and where necessary, takes action to eradicate all forms of such conduct. Tiffany’s tracks the diversity of its workforce by gender, generation and ethnicity, where legally permissible and as self-disclosed by employees. In addition to company policies, local teams identify specific activities and programs that align with their unique needs and opportunities. As an example, their manufacturing facility in Cumberland, Rhode Island has a strategic alliance with the National Technical Institute for the Deaf that has provided opportunities for skilled employees with disabilities.

Tiffany & Co.’s Management

Michael J. Kowalski

Chairman of the Board and Chief Executive Officer

Frederic Cumenal

President

Ralph Nicoletti

Executive Vice President and Chief Financial Officer

Beth O. Canavan

Executive Vice President

Jon M. King

Executive Vice President

Victoria BergerGross

Senior Vice President-Global Human Resources

Pamela H. Cloud

Senior Vice President-Merchandising

Leigh Harlan

Senior Vice President-Secretary and General Counsel

Andrew W. Hart

Senior Vice President-Manufacturing, Diamonds and Gemstones

Caroline D. Naggiar

Senior Vice President-Chief Marketing Officer

John S. Petterson

Senior Vice President-Global Operations and Customer Services

Tiffany & Co.’s Board of Directors Michael J. Kowalski

Chairman of the Board and Chief Executive Officer, Tiffany & Co.

Rose Marie Bravo

Chief Executive Officer (Retired), Burberry Limited

Dr. Gary E. Costley

Chairman and Chief Executive Officer (Retired), International Multifoods Corporation

Frederic Cumenal

President, Tiffany & Co.

Lawrence K. Fish

Chairman and Chief Executive Officer (Retired), Citizens Financial Group, Inc.

Abby F. Kohnstamm

President, Abby F. Kohnstamm & Associates, Inc.

Charles K. Marquis

Senior Advisor, Investcorp International, Inc.

Peter W. May

President and Founding Partner, Trian Fund Management, L.P.

William A. Shutzer

Senior Managing Director, Evercore Partners

Robert S. Singer

Former Chief Executive Officer of Barilla Holding Spa and Former Chief Financial Officer of Gucci Group NV

Financial Statements Merchandise offerings include an extensive selection of jewelry (92% of net sales in fiscal 2013). Year over year, Tiffany & Co. has been seen their bottom line shrink from $416.2M USD to $181.4M USD. Revenues grew from $3.8B USD to $4.0B USD over the same time period.

This company's management employs a level of debt in the capital structure that appears to be in-line with industry norms. Additionally, even though there are not enough liquid assets to satisfy current obligations, Operating Profits are more than adequate to service the debt. Accounts Receivable are typical for the industry, with 16.43 days worth of sales outstanding. Last, Tiffany & Co. is among the most efficient in its industry at managing inventories, with only 492.32 days of its Cost of Goods Sold tied up in inventory.

Balance Sheet

Cash Flow

Stock Prices

Jeweler and Diamond Markets A diamond is the hardest material on earth, and has long-since been recognized by man for its beauty as a gemstone. Some 130 million carats of diamonds produced from mines worldwide. Major producing countries include Botswana, the Democratic Republic of Congo, Russia, and Australia. Worldwide reserves are estimated to be some 600 million carats. The diamond mining industry is largely dominated by a hand-full of companies. The top three companies – Alrosa from Russia, De Beers from Luxembourg, and British-Australian Rio Tinto – account for almost 60 percent of global diamond mine production, and more than 70 percent of global diamond sales. Mined diamonds are mostly processed in and sold via the major global diamond centers: Antwerp, Dubai, New York, Hong Kong, Mumbai, and Tel-Aviv. In contrast to precious metals, there is no universal market price per gram of diamonds. Globally, diamond prices increased more since 1960 up to the current prices in 2014. Diamonds increase rapidly in value through processing from production to retail. Diamonds also have a high industrial value. They are especially well regarded as a material for cutting and grinding tools. Around half of all mined diamonds are not of gemstone quality and are used for industrial purposes. Today, synthetic diamonds mostly saturate the huge industrial demand.

Retail sales of diamond jewelry grew 1.8% from 2011 through 2012 to $72.1 billion, but the upstream and middle-market segments of the value chain came under pressure as overall prices for rough and polished diamonds declined by 14% and 13%, respectively.

The diamond market’s skyrocketing growth in the key developing markets of China and India moderated in 2013 amid a wider economic slowdown. Although Europe’s sales suffered because of continuing economic uncertainty, diamond sales in the US and Japan, the largest and third-largest diamond markets in the world, respectively, rose on the strength of accelerating GDP growth and seem poised for continued growth in 2013 (see Figure 1.3). Market players in both countries report strong demand for diamonds in the first half of the year. The 2013 outlook for market participants along the value chain is fairly positive, and many diamond markets seemed to emerge from the Las Vegas jewelry show in the beginning of June 2013 with renewed optimism.

The value of diamonds increases significantly as they travel through the pipeline from the mine to the final market, nearly quintupling over the course of the journey. The greatest value—$25 billion or more in both cases—is added at the jewelry manufacturing and retail stages.

PEST Analysis 1. Political •

Threat of conflict diamonds from diamond-producing countries in political unrest.

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Availability and price of these diamonds depends on political stability of country.

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With the recent concerns over environmental protections and responsible mining, Tiffany has to taken in regard the federal antiquated laws to promote responsible mining, and has been actively promoting responsible mining for its minerals and metals.

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The price and availability is dependent on the political situations in diamond producing countries. Weak political stability and security prevents Tiffany & Co. from expanding into the countries.

2. Economic •

Changes in prices of precious metals.

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International economic recession.

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Increase in consumers’ spending over luxury items such as fine jeweler. It has been reported stock companies that the luxury goods market has always been solid with increasing sales and profits even in times of an economic crisis.

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Higher unrestricted spending through credit card use.

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The reduction in trade barriers and manufacturing costs such as logistics, labor costs and raw materials in emerging countries facilitates capital flow for international business and encourages factories and plants to be set up. This allows for economic integration and globalization

international

businesses.

3. Social/Cultural •

Because of the recession, consumers want to spend their money on products that will last, which includes Tiffany products.

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Morally ethical consumers might be apprehensive about the origins of the diamonds, unless responsible jewelers provide assertion and reassurances that their diamonds purchased are not conflict diamonds, also known as blood diamonds.

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There is a bridal market boom over the recent years as the average age of people getting married is higher, these consumers possess higher spending power and are more likely to purchase higher-priced engagement and wedding rings.

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Women are found to be more emotionally attracted to products with satisfying appeals, such as jewelry and perfume. This indicates that it serves as an opportunity to the jeweler industry.

4. Technological: • Software’s allow increased efficiency for inventory scheduling management between customers and suppliers constantly. The ability to check for real-time data would help consumers check for availability online and supplier update stock availability with efficiency. These include Social media and apps. • E-commerce makes purchasing of products easier for local and international customers. • Technology fuels research of the fine jewelry industry to innovate new product designs constantly. It allows jewelry designers to create pieces to suit seasonal trends and generate consumer demand.

Growth and Potential Opportunities China: Global diamond jewelry sales hit a record $79 billion in 2013, led by strong interest from the Chinese for the rare gem, according to a report from De Beers. Polished diamond sales in China have been the fastest growing in the world, averaging about 21% a year over the last decade. The U.S. is still the world's largest diamond market but companies are increasingly looking to China for growth. As disposable incomes rise, Chinese consumers are driving global markets for luxury products, including expensive watches, handbags, cars and diamonds. China now accounts for nearly one-third of global luxury purchases, according to the report. China is still seeing much higher than average growth in diamond sales, even though some luxury segments have been hurt by a government anti-corruption campaign, and a slowing economy.

India: India would seem to be quite different as an emerging market for diamond jewelry. While there is a growing base of elite consumers, broader demographics are shifting. The Indian consumer market for diamond jewelry grew at a faster rate than China, but there are fewer international retail brands present (outside of select shopping malls in the major cities). This creates the aspiration for such jewelry among the emerging middle classes. There is also a trend towards a more Western take on the bridal occasion, with the exchanging of rings now not uncommon. As India grows further, it would seem that more Western trends in diamond jewelry would continue to emerge.

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Barriers and Threats •

Low Brand Loyalty: Compared to the strong brand loyalty in US, consumers have a reputation for mixing and matching conspicuous brands rather than sticking to one, the resultant low brand loyalty increases the threats.

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General Consumer Goods: In times of economic downturn, consumers might substitute luxury fine jewelry and turn to costume jewelry, cheap jewelry or even imitation.

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Counterfeit Goods: The proliferation of counterfeit goods and inability to eradicate them has caused Tiffany to lose millions of dollars each year.

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Primary Competitors: Tiffany’s rivals are specialty fine jewelers who are increasingly from mainstream luxury labels with their own jeweler collections.

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Indirect Competitors: These are angling to dominate in the Chinese market. Tiffany could lose its foothold in the overseas market if it does not continue to expand.

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Brand Identity:

Despite the strong brand image, which the Tiffany blue box

portrays, the company may dilute its luxury brand identity with its attempts to make the blue box affordable for the middle income.

Success Factors Success Factor

Description

Strong iconic brand

Since 1837, Tiffany has been renowned for its famous designer collections and unique Tiffany Blue Box.

Exclusive product quality

High reputation for excellent quality craftsmanship thereby creating value and trust for all Tiffany products.

Economies of Scale

Tiffany is able vertically integrate its channel thus achieving economies of scale to lower production costs, gain competitive advantage and fend off threats from new entrants.

Wide range of products & product differentiation

Tiffany has different product categories, with prices ranging from $30 - $1.5 million, to cater to more market segments and offering more choices to consumers.

Extensive distribution channels and strong direct sales capabilities

Tiffany has 221 retail stores across US, Europe and Asia-Pacific and secured websites for online sales transaction. Access to direct distribution channels translates to more sales opportunities, a better position and a larger market share.

Constant strive towards innovation

As a pioneer of design in the fine jewelry industry, Tiffany constantly revolutionizes its product designs through collaborations with renowned designers to generate consumer interest.

Competition Blue Nile: Blue Nile is the largest online retailer of diamonds in the United States, offering more than 60,000 diamonds on its website. It is currently an international online jewelry retailer and has a dedicated site for the Singapore market. Having no physical stores, no intermediaries and offering products four times cheaper than rivals, Blue Nile has proven to be a highly successful in its business model, with Forbes naming Blue Nile its favorite online jeweller. The company targets men and frequently advertises their brand through television channels like ESPN or TNT. The advertisements and the website itself provides an array of pictures and useful information to help men easily find what they want. An interesting aspect of Blue Nile is that it offers personalized services even without a physical store. On the website, several features such as toll-free call assistance, emailing, and live chatting is made available to the customer. This not only provides customers with the privacy and convenience of shopping online, it helps cut down on several risks such as time risks (traveling to the physical store), money risks (cost savings), and even psychological risks (feeling pressured when entering a high-end luxury store). In addition, Blue Nile provides Blue financing and insurance options. For example, there is a “Bill me later” option where customers can choose to pay 6 months later, with no interests charged.

Bulgari: Founded in 1884 by silversmith Sotirio Bulgari, the Bulgari family sold the business to French luxury giant LVMH in 2011. Being one of the world's leading luxury jewelry and watch companies and has been crafting prized pieces for the rich and famous for about 125 years. Bulgari reaches primarily women but also men, 30+ who are classic, elegant and want luxury. Their product strategy is based on two categories: Sophisticated men’s watches equipped with complicated movements; and collections intended for feminine clientele, emphasizing how precious the pieces are. Bulgari's lines include jewelry, watches, perfumes, leather goods, silks, pens, and eyewear (under license with Italy's Luxottica). Their jewelry design is distinctive and often imitated (and counterfeited). In the 1970s, many of the more expensive Bulgari pieces (such as necklaces, bracelets and earrings) were characterized by instantly recognizable, bold, architectural designs combining large and weighty gold links with interlocking steel. Bulgari is also famous for colored stones, especially sapphires mixed in unique formats. Genuine Bulgari watches have a unique serial number that is registered with the company. They rely on a distribution network of about 300 stores, located in the most exclusive shopping areas in the world. The largest Bulgari store in the world is the 10-story Bulgari Ginza Tower in Tokyo, which includes a restaurant and lounge bar. Although their present in all social media, Bulgari is most known for their elegant campaigns. The Campaigns will either have a still shot with fine craft details on the side and a close up photo to the model or a complete set up atmosphere with iconic season items in the middle.

Cartier: Cartier designs, manufactures, distributes and sells jewelry and watches. Founded in Paris, France in 1847 by Louis-François Cartier, the company remained under family control until 1964. Its headquarters in Paris and is now a wholly owned subsidiary of Compagnie Financière Richemont SA. The product range of Cartier includes watches, leather goods and accessories. Each product is sold as part of a collection. They try to link new products to the brand's history. A new line of jewelry and watches called La Doña is named after the legendary Mexican movie star Marian Felix, who was a devoted Cartier client. Their strategy is to set different prices to different types of customers, usually aiming at upper-class men and women. Due to strong global expansion and the success of new products such as Caresse d'Orchidées, a line of diamond-encrusted rings and necklaces introduced last year. The company operates more than 200 stores in 125 countries, with five flagship stores worldwide; Paris, London, New York, Tokyo and Shanghai. For more media coverage, the company turns store openings and product launches into media events. Last January, put on a midnight ball to celebrate the reopening of its elegant black-marble-fronted Paris store after an 18-month renovation. To garner publicity without seeming, Cartier sponsors cultural events as it expands in new markets. In the past year it has organized exhibits of Cartier jewelry at a Shanghai museum and Cartier watches at Beijing's Forbidden City. Though their campaigns differ widely, they all strive to convey brand attributes by creatively using video. Interestingly, they also each use traditional print publications to drive awareness of their broadband efforts and convey the classiness they offer.

De Beers: De Beers is a cartel of companies that dominate the diamond, diamond mining, diamond shops, diamond trading and industrial diamond manufacturing sectors. It is currently active in every category of industrial diamond mining: open-pit, underground, large-scale alluvial, coastal and deep sea. Mining takes place in Botswana, Namibia, South Africa and Canada. The Company has been known for introducing the Forevermark diamonds to markets in China, Hong Kong, India, Japan, and the United States. According to the company, Forevermark diamonds "are natural, untreated, responsibly sourced, and cut and polished by a specially selected diamantaire". Forevermark diamonds have an icon and identification number inscribed on the table facet of the diamond. Over the last century, De Beers has been highly successful in increasing consumer demand for diamonds. One of the most effective marketing strategies has been the marketing of diamonds as a symbol of love and commitment. A young copywriter working for N. W. Ayer & Son, Frances Gerety coined the famous advertising line "A Diamond is Forever" in 1947. In 2000, Advertising Age magazine named "A Diamond Is Forever" the best advertising slogan of the twentieth century. De Beers is also known for its television advertisements featuring silhouettes of people wearing diamonds, to the music of Palladio by Karl Jenkins. Through their ads, the achieved in making the diamond ring an essential part of getting married and dictating how much a man should pay, according to his income.

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SWOT Strengths

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High quality brand name and

Weaknesses

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Products are only sold at Tiffany stores, limiting customers.

recognition •

Product assortment tarnishes brand

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Growth in sales

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Growth in international market

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Commodity prices

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Recessions

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Product differentiation

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Strong distribution

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Range of products

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Vertical integration

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E-commerce

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Corporate Social Responsibility

image

Opportunities

Threats

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Growth in international markets

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Future economic recession

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Growth in internet sales

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Counterfeit products

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Expansion into retail outlets

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New competitors

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Growth in men’s luxury

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More designs in seasonality changes

Competitive Advantages •

Minimal Barriers: Due to high barriers of entry, there is minimal competitive threat from new entrants.

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Bargaining: It can be foreseen that bargaining of suppliers will increase as demand for diamonds continues to rise and supply diminishes.

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Limited Distribution Channels: As Tiffany has access to extensive distribution channels, new entrants lacking connections with jewelry distributors and retailers face limited retail/distribution channels thus they are unable to produce substantial threat.

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Product Differentiation: Product differentiation plays an essential role in reducing competition in the industry. New entrants face difficulties in competing with Tiffany’s strong brand heritage and unique trademarked design collections.

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Growing Demand: Demand will grow fastest in emerging markets like China and India. The trend will benefit Tiffany because the upper class will splurge on jewelry from well-known brands to show off their wealth.

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Leadership: Tiffany is one of the leaders within the jewelry industry in terms of jewelry design, number of stores and worldwide sales.

•

Market domination: The market in which Tiffany is operating is highly fragmented and provides much opportunity for market share capitalization.

Branding Materials First impressions are a must, especially for brands. When a person is first introduced to a company he/she will conclude a quick judgment about your brand. For this reason Tiffany’s has already created a memorable, elegant, and attractive way of branding itself. In todays fast moving world it’s vital to create a memorable experience through design. The design, style and quality that are at the core of Tiffany & Co. translate to love. This is achieved through Tiffany’s blue box, which symbolizes centuries of design and style. Promising distinctive and high quality jewelry within, the real magic of Tiffany’s blue box is that it sparks an emotional connection. The fusion of the new Tiffany’s Cellphone Cover and the company’s distinct color will be more than enough to create more brand awareness. Branding materials will include the following: •

Newsletters: This will create an effective medium for building relationships and maintaining regular contact with customers and prospects. The promotion of the launch and sale of the product will enhance the value of Tiffany products to customers.

•

Advertising: This branding element will invite the target audience to evaluate the product to eventually make the purchase. It will also serve to attract new customers and entice existing ones.

•

Press release: The release will get information of the business and launch of the new product to media outlets, generating attention to all publics.

Marketing Strategy A. Proposition: Tiffany and Co.’s cellphone case A feature that one should look out for when purchasing a cell phone case is personalization. Today, it is key to the world’s mobile lifestyle. A Tiffany’s cellphone case will add a trendy look to the phone that shows the taste and personality. One should choose the best quality of material for the cell cover. There are many crafty and artistic designs of covers to attract customers. Having a cellphone cover made by Tiffany’s, could change a customers perspective of what they have to offer. The Tiffany’s Cellphone Case will be available for IPhone 5s, 6 and 6plus users exclusively. Selling at a Tiffany’s accessory’s price level, the new addition to the Tiffany & Co. brand will be available in three different styles. The first is leather case with Tiffany’s logo and will be available in the same color as their Tiffany Blue Box, robin blue, black and white. The second case, made of the finest polycarbonate material will be offered in a transparent color, simulating Tiffany’s known diamonds. The last case will be a metal case with the signature “Please return to Tiffany and Co. New York 925” stamped message. This message will be in the robin blue color. Tiffany’s is known for their diamonds and elegance within it. Their rings and necklaces are the items that stand out and what better than to have a Tiffany’s cellphone case in hand while also having a ring or watch or bracelet.

B. Marketing Goals • • •

Increased brand awareness Extend product development Maximize revenue and profit by 5% in one year

C. Marketing Objectives • •

Placing advertisements on all major media and social media outlets Offer new product specifically to the Tiffany home store for 3 months

D.Brand Positioning Low

High

Low

High

Brand

Diverse

Specialized

Products

Differentiation Price Price Visibility Visibility

Tiffany v

v

& Co Blue v

v

Nile Bulgari

v

Cartier

v

DeBeers

v

It is more lucrative for Tiffany to maintain its current market position, instead of aiming for a higher positioning but dense market to compete closer with Cartier, Bulgari and De Beers. The approach of offering diverse products to middle and high-end target markets is wide and allows Tiffany’s to capture more potential market share, but it may weaken their luxury brand identity. Tiffany’s needs maintain its roots of quality fine jewelry and constantly innovate its product line to remain as the pioneer of fashion-forward designs. Tiffany’s is now “middle-class” compared to De Beers and Cartier. While the average purchase of a Tiffany’s shopper is $180, the Cartier customer spends $3400. Although the company needs to differentiate more and enhance the brand value in the consumers’ mind to draw more revenue from them, what benefits them is the message they portray through their merchandise.

Target Market Segmentation Tiffany's main market targets are upper class women, ages 18+ who love fashion,

shopping and buy and receive luxurious gifts. With its various design collections and price range, the company meets wants and needs of consumers of different age and income. Tiffany services generations X, Y and baby boomers. While generation X, who are workingwomen, earn enough money to pay for high-quality goods; baby boomers buy the luxurious items even despite insufficient funds. But, generation Y consumes the product because they enjoy to follow the celebrity trends. In this case, this kind of purchase may include people of different family life cycles such as young single, young married with/without children, middle-aged married with/without children etc. People buy Tiffany's product basing their purchasing decisions on motives and lifestyle. The marketing is always geared towards women even though men contribute to a decent percentage of the profits. In this case, women act as influencers on the men, who would be Tiffany’s secondary target, recently presenting merchandising like watches, wallets and jewelry for them. Since Tiffany & Co. is a specialty company that sells mainly jewelry, customers turn to its product for celebration of some significant events such as engagement, wedding, anniversary or birthday. Despite the fact that originally Tiffany's jewelry were created for high-class women, now its product becomes more affordable as the company always looks for the way to expand its market. Now even lower income women can buy Tiffany's product because of the addition of collections such as made from sterling silver. Most of the company’s marketing and promotions are focused on concentrated target markets because it specializes in a specific area and services a select group of people.

I.Geographic Target Market:

Tiffany and Co. Sales 3 12

Americas Asia-Pacific Region

14 48

Japan Europe

Others

II.Sociographic Based on the article “Social media and target analysis from a sociographic point of view” written by Stefano Maggi on his blog, the author explains that “The sociographic approach also highlights unique micro trends and people who are the main reference for the final target”. He also expresses what he feels is the right questions to ask when one studies a company’s sociographic target. These are: 1. Starting from core target, what are the main clusters (or the niches) we can split it into? 2.

Which channels does the target interact in?

Does the target already have any kind of relationships with the brand's

competitors and with industry? 4.

How does the target behave on social media?

What bond is there between have with brand and product?

What social elements can add value to product and service offered?

Regarding the social media trend development, Tiffany’s has established a social media relationship to satisfy customer’s demands due to change in generation choices and the use of technology. It’s learned to provide direct social contact to the customers as per Newsletter, Facebook, Twitter, Pinterest, Youtube, Flickr, mobile apps and customer accounts. Most people are opting to use the newest outlets to find out what the company has brought to them. Social media is a very important part because it creates an interpersonal relationship. The stronger the interaction, the more they would be swayed to pay less attention to Tiffany’s competition.

III.Tiffany & Co. Lifestyle Customer Lifestyle Board

The customer Lifestyle board above is a representation of what I believe makes a Tiffany’s customer, ranging from clothing, accessories, magazines, personal items and even lifestyle choices such as places, food and beverages. The image below is a screenshot of a personal Pinterest page made for the Tiffany’s Customer Lifestyle. If you’d like to see a better view, you can access: http://www.pinterest.com/lionidass/tiffany-co-lifestyle-board.

Marketing Mix Overview Marketing Mix

1. Product: The convenient Tiffany’s cellphone cover will be available to all consumers of the Tiffany’s store. The product will be available in three different materials, all custom made to provide the sense of uniqueness. The materials will be in metal, leather and polycarbonate. They will also range in colors, being offered in robin egg blue, white,

black and a transparent crystal like color. These covers will only be available to IPhone 5s, 6 and 6plus users only. As part of the item, the metal case will come with the option to be polished once a month. The packaging will be same offered for other Tiffany’s accessories.

2. Price: The Price of the cellphone cases will all be at $160. Because it will be the new addition to the Tiffany’s accessory line, the product will be offered will a special promotion to entice customers. Consumers will get their moneys with a cellphone cover that is durable, fashion forward and unique.

3. Place: The product will be sold at Tiffany’s 289 stores worldwide and on-line for all consumers. 4. Promotion: The cellphone case will be advertised through Tiffany’s social media pages, print ads for magazines and newspapers. There will also be a sales promotion, newsletters to clients and a press conference. 5. People: Employess will also serve as a form of promotion for the product. The knowledge and skills of the staff will be considered as an advantage; their motivation and investment in supporting the brand will also be considered for offer a complete customer service experience. Customers are likely to be loyal to organizations that serve them well so this will be a big factor in Tiffany’s added success.

6. Physical Space: As Always, Tiffany’s environment is one of service, comfort, spotless and visually appealing. The service is delivered in which the seller and buyer interact before, during and after the sale. The customer will be able to see the product beforehand and decide if to buy it or not. They will also be able to try the case on to be able to have an idea on how it would look on them. It’s already apparent that Tiffany’s is expanding

their offering of merchandise to their consumers and will be able to read the story behind the creating of this new product.

7. Process: Associated with customer service are a number of processes involved in making marketing effective in Tiffany’s. These include processes for handling customer complaints, processes for identifying customer needs and requirements, processes for handling order etc. Services for the maintenance of the cellphone covers will be offered also.

Merchandise Map Product

Style

Color and/or

No.

Price

Quality Level

No.

Fabrics

Range

and Origin

$160

High

Sizes Tiffany Cellphone Case

#00000

Leather Polycarbonate

China

Metal Robin Egg Blue Clear Black White

Merchandise Plan Planning

Total February March

April

May

June

July

August

Parameters

Amount Last

B.O.M. Year Inventory Plan

$19,200 $20,160 $21,168 $22,227 $23,338 $24,505 $130,598

Actual Last Year Purchases Plan

$50,990 $44,700 $26,600 $34,300 $31,000 $25,472 $213,062

Actual Last Year $35,000

Sales Plan

$55,000 $40,000 $45,000 $85,000 $50,000 $310,000

Actual Last Employee

Year

Discounts

Plan

$350

$550

$400

$450

$850

$500

$1,350

Actual

Last Year Shrinkage Plan

$1,400

$2,200

$1,600

$1,800

$2,000

$1,100

$10,100

Actual Last E.O.M.

Year

Inventory

Plan

$33,600 $24,998 $35,986 $25,117 $27,772 $28,181 $175,654

Actual Last Stock-to-

Year

sales Ratio

Plan

0.96

0.45

0.90

0.56

0.33

0.56

63.4

Actual Last Gross

Year

Margin

Plan

63.4

Actual

Tiffany & Co. Merchandise Board The Tiffany’s Brand Merchandise Board below is a representation of what I believe makes the Tiffany’s product. It includes the materials, such as leather, metal, polycarbonate; attributes which will be represented, such as glasslike looks, transparency and color, and also a representation of what the Tiffany’s customer looks for, like commitment. The image below is a screenshot of a personal Pinterest page made for the Tiffany’s Brand Merchandise Board. If you’d like to see a better view, you can access: http://www.pinterest.com/lionidass/tiffany-cobrand-merchandise-board/

Marketing Mix Strategy: A. Promotion: 1. Advertising: Tiffany’s new product will be placed through different advertising efforts. It’s planned to be placed in all major local newspapers, radio stations, as well as their social media websites. Because this is a new product being introduced to the Tiffany’s brand, the advertisement to be presented will be the cover photo and profile picture on all main sites. Part of this effort will also be attributed to their website where the advertisement will be the main page. The advertisement will be the same for print and online. The radio announcement shall inform consumers of the launch of the product and where to find it. 2. Promotions: The product will be promoted daily through the employees of Tiffany & Co. These will be notifying the customers that the selling of the new cellphone case will be available for November 2015. It will help to keep the anticipation of the product for existing and new customers. The sales promotion will be accompanied by advertisements around the store. Newsletters will be sent by e-mail through a customer list notifying them of the new product also. The prototypes of the three different cellphone cases will be available at the store for customer convenience and pre-order can be made. 3. Public Relations: A press conference will be scheduled 3 months before the launch of the product to notify all media outlets of the Tiffany’s new acquisition. This will help gain media

coverage

B. Marketing Calendar Janu

Febru

Mar

ary

Media

April May

June

July

Septem Octo

Novem Decem

ber

August

2 per 2 per 2 per 2 per 2 per 2 per 2 per 2

per 2

ber

per 2 per 2

per 2

per

Tv day

day

2 per 2 per 2 per 2 per 2 per 2 per 2 per 2

day per 2

day

per 2 per 2

day per 2

per

Radio

day

week weekl

wee

Wee

wee

weekly

week

weekly

kly

Half

Page

Half

Page

Page Page Page

posts,

3 3

post

2 2

time

a s

3 posts, 3

a a week

times a a week

wee

a week

wee

week

week k

3 times 3 times times 3 times

wee week week

2 posts,

posts, time

times s

posts

s, 3 s, 3 s, 3 2 posts, ,

times times a

post posts

time Media

2 2

s, 3 Social

2 post

posts

Page

week k

Duri

Durin

Duri

During

Duri

During

Sales

Store

Promot

Store Store

Stor

Store Stor

Stor

Hours

Store

Hours

ions

Hour

Hou

Hours e Hou

Once

Onc

week

wee

Once Onc

Onc

Once a Once a Once

Once a Once a

Once Newslet

a a

a e

a week

week

•

a ters

week wee

wee

week

week k

Press releases

•

Press Special Confere Events nce

C. Advertising and Promotion Drafts

Do you Fancy Your Calls?

Presenting the new Tiffany’s Cellphone Case

D. Service Strategy More than the merchandise itself, the customer service provided by an employee is crucial to secure sales and create a great in store experience. For the launch of the new product and daily operations in general, employees must be always presentable. This includes women with makeup and hair properly styled, good hygiene and uniformed by store standards. This also is the same demand for male employees. There will always be an employee at the entrance of the store known as the greeter and he/she will assist the client in any information they need and also to direct them to any merchandise they are looking for or an employee to assist them. The employees must always follow procedures to secure sells. This can be achieved by offering friendly conversation for the customer to feel comfortable. Offering merchandise information and benefits of a product always helps a client decide what’s best for them and how they will be able to use them. Teamwork is also crucial, if an employee is unable to assist or seems to be busy with another customer, a fellow employee must help them out; a client should have as much undivided attention as possible. All employees must always find the appropriate way to explain sales promotions without the client feeling pressured. This is the most important action to realize the months before the launch of the new product. Anticipation for a new product is always positive, maintaining the customers interested. The time before the launch, all employees will inform the clients about the new product and show them the prototype. If interested, clients may pre-order. This can also be done at the end of the sale as a reminder for them to come back and visit the store. These same specifications will apply after the launch of the product to impulse sales.

Financial Data A. Cost Breakdown Cost Breakdown Variable Product Cost Price Per Unit 2,000 Units/Yr. Raw Materials $45 $90,000 Assembly $60 $120,000 Manufacturer $30 $60,000 Total $180 $270,000 B. Cost Analysis Costing Analysis Units

2,000

Selling Price per Unit 160.00 Total

320,000

C. Sales Forecast Sales Forecast

Month

Units

Retail Revenue

January

$14,400

February

$14,400

March

$14,400

April

$14,400

May

$14,400

June

$14,400

July

$14,400

August

$14,400

September

$14,400

October

$14,400

November

$14,400

December

$14,400

Total

1080

$172,800

D. Sales projections According to sales, Tiffany’s would make a gross revenue of 4.03 million dollars in their first year and finish with $4.44 million by year 3, increasing about 5% per year. The Net Income would also increase from 1.57 million to 1.94 million respectively.

Evaluation and Measurement There are a few variables in particular that we will be monitoring to better benefit Tiffany’s phone cases. It’s planned to have variable costs to help ensure the company has enough money to get the phone cases in all retail stores in the correct positioning. In order to stay on pace with competitors product pricing will be closely monitored in retrospect to competitors. From quarter to quarter Tiffany’s will monitor its product in sales, pricing, positioning, and promotion in an attempt to become the number between its competitors Marketing companies contracted by Tiffany’s will study social media pages and verify feedback from customers and followers. They will also study the impact all advertising and PR efforts have had on the publics.

Risky Analysis and Growth Plan The following risk analysis for Tiffany & Co. was made to dentify potential risks, and to assess and developing strategies to manage them. By understanding possible jeopardies of the company, there can be was found minimise their impacts and help the business recover quickly if an incident occurs. The following risks were evaluated and believed to have a main priority. These include: A. Distributor and Manufacturer consistency: Due to the fact that Tiffany & Co. does count on their distributors and manufacturers heavily, it it important that they always remain reliable. This does not only include the service they provide, but the quality also. B. Product quality: New products must be up to par with the existing products at Tiffany’s, that’s why it is necessary to find the best materials without compromising the environment, to be able to offer extraordinary merchandise

to the clients. This is also a precautionary method to make sure products do not contain faults. C. Internal Theft: Although it is of importance to have employees who exemplify Tiffany’s ethical and moral values, it also is necessary to control and maintain store inventory and supervise all employees. D. Financial stability: With new products being presented at Tiffany’s, all finances must be kept constant and rising. The company should not overbudget if it is not necessary. Constantly revising and auditing their finances will keep them up to date. E. Customer Reception: Although Tiffany & Co. has astrong customer base worldwide. It is necessary to understand if they are reacting well to the new arrival of the Tiffany’s phone case. This includes price, quality and presentation. This is a concern worldwide. To prevent this from happening, the Company will have to study how to aim this product at the different markets and customers to which it sells worldwide.

Likelihood High High

Medium D E

Impact

Low

Medium C Low B

Long Term Strategy As aforementioned, Tiffany’s is facing new opportunities and constantly looking to maintain their position as a luxury brand of prestige and exclusivity. Tiffany has carried and sold different brands of jewelry from different designers over the span of time of its operations. This serves as an opportunity for the business to continue designing products under its own name and keep extending their brand. Under the proposed product development strategy, Tiffany will design three exclusive cellphone cases catering to all their clients taste. This unique product differentiation incorporating the Tiffany’s name on different types of cases will set them apart from its competitors. As the main issue is to communicate to its affluent consumers that the Tiffany brand can differ from competition, the bulk of marketing and advertising expenditures will be focused on the affluent customer. Tiffany will employ the use of corporate image advertising, which promote their brand attributes. Brand positioning the company has to educate consumers about the superior quality used to fabricate its products and that it is value for money—which is worth every cent that they are paying. With the development of new products or the enhancement of existing ones, Tiffany’s will able to achieve a higher status in the market than where they’re positioned currently. In order to improve the effectiveness of the market to development strategy, market penetration will take place All of this will be achieved through the constant changes society is experiencing and their reaction to the same. This product adaptation is part of a transitional strategy that will improve Tiffany’s competitiveness in the international environment.

References • http://iln.cite.hku.hk/com/1401/users/kyleung6/26191 858.pdf • http://investing.businessweek.com/research/stocks/fina ncials/financials.asp?ticker=TIF&dataset=balanceShee t&period=A&currency=native • http://investor.tiffany.com/management.cfm • http://www.adweek.com/news/advertisingbranding/how-tiffany-s-iconic-box-became-world-smost-popular-package-160228 • http://www.bain.com/publications/articles/globaldiamond-report-2013.aspx • http://www.bbc.com/news/magazine-27371208 • http://www.businessweek.com/stories/2006-0808/cartier-taps-culture-to-polish-its-brand

• http://www.hoovers.com/companyinformation/cs/companyprofile.Tiffany__Co.cd5fb5e6ec14dd01.html • http://www.instant.ly/blog/2013/02/mobile-strategyat-tiffany-co/ • http://www.instant.ly/blog/2013/02/mobile-strategyat-tiffany-co/ • http://www.livescience.com/42542-why-jewelry-mustbe-sustainable.html • http://www.luxurydaily.com/tiffany-michael-kors-aremost-purchased-luxury-brands-by-ultra-affluentwomen-the-luxury-institute/ • http://www.slideshare.net/yunrufeng/tiffany-co-brandaudit?related=1 • http://www.wikiwealth.com/swot-analysis:tif • https://prezi.com/4h3aprqhqpq3/copy-of-tiffany-co/

• https://www.scribd.com/doc/127238452/SocialMedia-Marketing-Analysis-of-Tiffany-Co • www.Tiffany.com • www.Wikipedia.com