External Environment of Tiffany & Co. Case Study by scribbler

External Environment of Tiffany & Co.
A review of the opportunities and threats facing Tiffany & Co.
# 153217 | 715 words | 7 sources | APA | 2013 | US
Published on May 07, 2013 in Business (Companies) , Business (Industries)


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Description:

The paper discusses the opportunities facing Tiffany & Co. that include stronger branding capabilities, increased demand, and the emerging markets in Asia and around the world. The paper then considers the threats facing Tiffany & Co and points out that DeBeers poses the biggest threat to Tiffany, and any jewelry retailer, due to the size of the company and its resources, and their control of diamond supplies. The paper also addresses the increased competition from high-end retailers as well as from non-specialized mass market retailers that operate on very slim margins such as Wal-Mart. The paper includes an external factor evaluation matrix for Tiffany & Co.

Outline:
Opportunities
Threats

From the Paper:

"Tiffany & Co has long been branded as a high-end luxury retailer, and this image has helped to sustain and define the company for over a century (Tiffany & Co 2011; Hoovers 2011; Yahoo 2011). The economic downturn over the past few years had a definite negative impact on high-end retailers and their bottom lines, and this was definitely true of the retail jewelry business that makes up a substantial majority of Tiffany & Co's sales (Gottlieb 2010; Hoovers 2011a; Tiffany & Co 2011).With the recession lifting, jewelry and other high-end luxury items are being sold more rapidly in in higher quantities again, providing a potential opportunity for Tiffany & Co. to engage in aggressive marketing and make its brand image of luxury and refinement stronger and more valuable again (NY Times 2011; Tiffany & Co. 2011). So far, the company does not seem to be taking advantage of this opportunity very well, as marketing efforts remain muted.
"The economic recovery has also simply led to an increased demand of the type of products that Tiffany & Co. sells (and at the prices at which the company sells them), and this creates a direct and obvious opportunity for the company (Gottlieb 2010; NY Times 2011; Hoovers 2011a)."

Sample of Sources Used:

  • First Research. (2011). Jewelry Retail industry Profile. Accessed 21 February 2011. http://www.firstresearch.com/Industry-Research/Jewelry-Retail.html
  • Fool.com. (2011). Tiffany vs DeBeers. Accessed 21 February 2011. http://www.fool.com/portfolios/rulemaker/2001/rulemaker010627.htm
  • Gottlieb, M. (2010). Jewelry--Retail. Accessed 21 February 2011. http://www.msgcpa.com/industry-library/Jewelry-%25E2-Retail/
  • Hoovers. (2011). Tiffany & Co. Accessed 21 February 2011. http://www.hoovers.com/company/Tiffany__Co/rrcxri-1.html
  • Hoovers. (2011a). Jewelry & Watch Retail. Accessed 21 February 2011. http://www.hoovers.com/industry/jewelry-watch-retail/1540-1.html

Cite this Case Study:

APA Format

External Environment of Tiffany & Co. (2013, May 07) Retrieved July 02, 2022, from https://www.academon.com/case-study/external-environment-of-tiffany-co-153217/

MLA Format

"External Environment of Tiffany & Co." 07 May 2013. Web. 02 July. 2022. <https://www.academon.com/case-study/external-environment-of-tiffany-co-153217/>

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