Tiffany & Company (TIF) 2015 Case
Tiffany & Company is a New York-based jewelry company that manufactures and sells a wide range of jewelry. One of the main sources of this company’s competitive advantage is its marketing strategy (David & David, 2017). Tiffany & Company has used market segmentation and positioning as its strategy to be successful in a global market.
Market Segmentation and Product Positioning as a Strategy-Implementation Tool for Tiffany & Company
Market segmentation is the process of dividing a large group of customers into smaller groups based on similar characteristics. Dividing the customers in this manner gives a company the chance to design unique strategies that met the needs of the different customer groups (Wedel & Kamakura, 2012). Tiffany & Company has segmented its market based on geographical location. This allows the company to manage different geographical locations in a manner that meets their unique needs.
Market positioning refers to a company’s ability to influence the perceptions of the target consumers (Klein et al., 2019). This refers to the position that a business occupies in the minds of its target consumers. Tiffany & Company has positioned itself in the market as a high-value, sophisticated brand. This positioning helps to increase the perceived value of the products sold by the company to its target consumers.
The Nature of Tiffany’s Financial Position in Strategy Implementation
Tiffany experienced a significant income increase between 2014 and 2015. Its net income increased from 181 million to 484 million that year because of the company’s investment in an online strategy. This company’s investment in an online strategy significantly increased its sales, thus improving its financial position.
References
David, F. R., & David, F. R. (2017). Strategic management: A competitive advantage approach, concepts and cases. Pearson.
Klein, K., Völckner, F., Bruno, H. A., Sattler, H., & Bruno, P. (2019). Brand Positioning Based on Brand Image–Country Image Fit. Marketing Science.
Wedel, M., & Kamakura, W. A. (2012). Market segmentation: Conceptual and methodological foundations (Vol. 8). Springer Science & Business Media.
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Question 
Tiffany & Company (TIF) 2015 Case
After reading Chapter 8 and the Tiffany & Company case, answer the following two questions:
Tiffany & Company (TIF) 2015 Case
Explain market segmentation and product positioning as a strategy-implementation tool for Tiffany & Company.
Discuss the nature of Tiffany’s financial position in strategy implementation.
Resources
- Discussion Participation Scoring Guide.
- Check ‘Tiffany & Co., Inc., 2015’ – Page 446 – 454
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