Week 9 - Sales Promotion and Personal Selling

Tiffany & Co. uses many tools for consumer sales promotion. One of the tools the company is using is coupon. Coupons allow customers to purchase exclusive jewelry pieces at discounted prices. Some of the other tools the company is using are complimentary shipping and membership discounts. Tiffany & Co. invented new "Elsa Peretti" designer promotion, using core collection in all stores, and generated record sales. Tiffany also conceived first national program resulting in largest selling event ever. Pioneer "Tiffany-Only" regional lifestyle weekends for Tiffany Register customers resulted to 37% growth in statement jewelry sales. "Tiffany-Only" attractions secure presence of most profitable customers. In oredr to help consumers to make a better decision by purchasing Tiffany jewelry, the company started "What makes a Tiffany Diamond" workshop-selling seminars, demonstrating value with exclusivity.

Week 8 - Advertising and Public Relations

Tiffany advertising is focused on brand, and specifically on sending a consistent brand image. Tiffany is synonymous with famous wrappings. All of its gifts come wrapped in exclusive blue boxes. Tiffany is trying hard to remind people of connection between color and brand.

Also Tiffany's advertising campaign uses world famous models for promoting new products. For the Fall 2008, Tiffany's campaign was featuring Liya Kebede, Lily Cole, Shalom Harlow and Sasha Pivovarova. All the models were exemplifying the classic glam that Tiffany represents with simple make-up, soft feminine outfits, and diamond encrusted accessories. 
Tiffany & Co. is considered one of the best campaigns that touts the value of high-end product. The company uses these tag lines: "Dreams Can Still Come True" and "For less than you imagined, the best there is."

In 2009 Tiffany & Co. used mobile to promote its new product line to female consumers who use iPhone or Blackberry smart-phones. Researchers showed that the majority of Tiffany target consumers are iPhone or Blackberry users. The mobile site let visitors find out about new store, get directions via Google maps and click-to-call the store. Visitors could also browse a limited collection of jewelry, choose their favorite pieces and save their selections to create their own jewelry tray that could also be assembled in-store for them to try on the pieces in person.

Addition to Retailing

On Monday I went to the Tiffany store on the 57th st & 5th ave. When I just entered the store, I was greeted by one of the sales representatives. He asked me what I am specifically looking for and gave me a quick description of the store. The store has 6 floors. On the first floor they sell fine jewelry and watches. I was amazed by the Tiffany's collection of watches. I even took a chance to try them on. On the second floor they have a big variety of engagement rings and wedding bands. On the third floor they sell sterling silver jewelry. On the fourth floor they have china, fragrance, stationery and on the sixth floor is a customer service. The atmosphere in the store was very relaxing. All the sales representatives were very nice and looked very presentable.

Week 7 - Retailing

Tiffany & Co. is an independent retailer. Company's retail sales consist of sales transacted in Tiffany & Co. stores, internet and catalog sales. Tiffany distributes catalogs of selected merchandise to its proprietary list of customers and to mailings lists. Selected Tiffany & Co. merchandise is sold to independent distributors for resale in markets in the Central/South American, Caribbean and Canadian regions, Russia and Asia-Pacific markets.     
In 2008, Tiffany opened a new store in the United States that offers a selected product assortment which excludes engagement and high-end jewelry. Management anticipates that Tiffany will open additional locations in this smaller format, while continuing to open full assortment stores as well. The selection allows the store to concentrate high-margin products in a smaller space. Management also believes that this new format will be highly efficient and will give the company the opportunity to open stores in smaller U.S. cities and to better serve larger markets where the company already operates full assortments stores.                                           

Operating by its mission statement to be the world's most respected retailer, Tiffany focuses heavily on customer service. New employees complete six to eight weeks of training in knowledge, skills and product training. They must also pass a written test before they are allowed to meet with customers. Once in the field, sales representatives work for two years to complete a certification process.

Week 6 - Consumer decision making

Tiffany & Co. is the global company recognized all over the world for the value,quality and style of their products. According to Tiffany & Co., "Tiffany is about things that last forever..." The company is not focused on the fashion, but is dedicated to the timeless style and design. The company is focused on the customers who appreciate finer things in life and the emotional pleasure of owning the best there is. As one of the most famous jewelers in the world, Tiffany & Co. established themselves as an example of the company that is able to increase the value of their products through effective marketing and attention to detail. They believe that  the best way to attract new customers is to educate them about their products and to sell them not only the jewelry but the piece of art and culture at the same time.
 Tiffany  customers are exposed to two external information sources: nonmarketing -controlled  and marketing-controlled. A nonmarketing-controlled information source is represented by personal sources such as family, friends and coworkers. The marketing-controlled information sources are associated with mass media advertising such as television, magazine advertising and Internet.

Week 5 - Developing a Global Vision

Tiffany & Co. expanded internationally in 1986 with its first store in London which then laid a solid foundation for the expanding of European markets. Nowadays, Tiffany & Co. is operating 220 stores in 17 countries. Tiffany products are highly valued between customers in Japan, France, Germany, Spain, United Kingdom. Tiffany is also steadily penetrating the Chinese market. In China's economical city Shanghai and capital Beijing, customers can buy authentic Tiffany jewelries. In Canada, there are also two stores that sell noble and elegant Tiffany &Co. jewelries. In the beautiful country Australia, there are also seven stores for people to pursue Tiffany jewelry. Big cities such as Sydney, Melbourne, Brisbane all have established long cooperation relationship with Tiffany & Co. Tiffany opened an online store in 1999 with the strategy to allow customers who did not live near a Tiffany store to have access to Tiffany's products.
On 12, 2010 USA Basketball and Tiffany & Co.  announced a new multiyear global marketing partnership that will make one of the world's most recognizable brands an Official Partner of USA Basketball. The creation of the Global Community Cup trophy, which will commemorate USA Basketball's journey as it competes in international competitions on an annual basis, will highlight the partnership. Prior to each competition, USA Basketball will play a series of exhibitions against top national teams in both the United States and abroad. The Global Community Cup, which Tiffany & Co. will design and create, will be awarded after each game with engravings honoring both teams, the standout player of the game, and a charity supported by USA Basketball.