CBBE Pyramid

Global Strategy  Local Strategy  Brand Knowledge  Competitor Analysis  POP & POD

Be it a gift for others or oneself, Tiffany is undoubtedly the most recognizable and recalled brand for mid-range priced jewellery in Singapore. Many can identify the brand for it’s sterling silver jewelry and its blue packaging, which is exclusive to the brand. It is common to spot a woman donning Tiffany’s jewelry, especially its highly popularized classic designs (e.g. the lock-and-key, the heart pendant) that many can recognise easily. Tiffany’s products guarantee appreciation and joy for gift-receivers as well. That is why the brand is able to strongly position itself in both the fine jewellery and gifts category.

Overall, Tiffany enjoys much higher brand salience as compared to Blue Nile and Pandora.

Great depth and breadth

“Think of me in times of love…”

For many years, Tiffany has emphasized on true love, friendship, kinship and self-appreciation that exhibits warmth and happiness, in its advertising efforts. When selecting a gift for loved ones or oneself, mental and emotional cues will trigger the brand as a consideration set. The heavy use of positive emotional engagement puts Tiffany ahead of its competitors in the consideration set, enjoying top of mind recall.

“I inspire you in many ways..”

Tiffany’s idea whereby “A Tiffany gift is perfect for any occasion” also highlights their products as thoughts of love that is not constrained only for special occasions. Instead, the products are displayed in a variety of settings. When consumers experience the same settings, it encourages them to take the initiative when gift purchasing for others or oneself, therefore, recalling the brand that had once inspired them to do so.

Commitment to Quality

According to Tiffany & Co.,

“Tiffany is about things that last, and the company maintains an uncompromising commitment to the highest standards, both in materials and craftsmanship.”

Customers view Tiffany as reliable, durable and serviceable. Over the years, the company expanded its product categories and designs; it sets the highest standards of quality and exceptional style for its products. The company has been consistently delivering its commitment to quality due to its high quality control. 

Dedication to Service

Tiffany also communicates its values through its store and in its employee presentation. The store architecture reflects great quality and craftsmanship. It is clean and spacious, creating a relaxed and enjoyable browsing experience for consumers. Employees are well-groomed, eloquent and equipped in product knowledge. In fact, all Tiffany’s employees are sent to a ribbon-tying class, where they master the art of tying the white ribbon to the blue box “the Tiffany way”. Consumers who step into the store are bound to feel happy and satisfied with or without purchase. As part of its dedication to service, consumers who have purchased their products are encouraged to return to the stores for complimentary polishing of their purchases.

Customer Engagement

The company actively participates in social media to promote customer engagement. The most successful of its marketing campaigns is, “What Makes True Love”, a website that built a community of Tiffany fans. Through the website, consumers of Tiffany share their stories and photos of love. The website has now more than a million page hits. In addition, Tiffany uses Facebook to communicate and reinforce its brand to potential and existing consumers.

Forefront of Innovation

Tiffany & Co. was the first American company to incorporate the 925/1000 British standard of purity. As jewelry pioneers, the company also places utmost importance in its development in metallurgy and jewelry design. For instance, recently in 2012, Tiffany developed its own unique metal alloy, which is a pinkish mixture of gold, silver and copper, with copper as the predominant alloy. It is trademarked and named RUBEDO. So far, the new metal alloy has generated fantastic hype and has been well-received by consumers.

Style is the Essence

The company regularly launches new and innovative product designs to suit the changing demand and variety-seeking needs of its consumers. Yet, it continues to maintain its classical designs, as the company believes that style ultimately overrides fashion, and it is Tiffany’s classic designs of its products that keep loyal customers coming.

Pricing

As compared to Blue Nile and Pandora, Tiffany’s products have never been on discount. The firm also does not believe in sales promotions, as it wants to maintain the image of high quality and consistency. Not taking into account diamond engagement rings (as the price of diamonds vary from cut to colour to clarity), Tiffany’s products range from hundreds to tens of thousands’ of dollars. This is roughly similar to Blue Nile and Pandora’s price ranges, just slightly more expensive than the other two.

Overall, consumers see Tiffany as a credible company that is consistent in providing exemplary service and high-quality products at a reasonable price.

The iconic Tiffany “Blue Box” and White Ribbon Packaging 

The iconic Tiffany Blue Color (also known as “Robin Egg Blue”) was patented by the firm many years back, and now the color itself represents the company’s brand image. Ask anyone on the streets what they associate the color with, and most would tell you it’s Tiffany & Co’s signature color. Today, the Robin egg blue color is one of the most iconic brand symbols in the world. The blue color, as represented by Tiffany’s packaging (consisting of a “blue box”, a “blue pouch”, a “blue paperbag” and a white ribbon tied to the box) conveys the Tiffany’s promise of luxury and quality to its givers and receivers. Simply known as the “blue box”, Tiffany leverages on its unique packaging to reflect to consumers that they can expect to get more a pretty box – what they are getting is Tiffany’s commitment to class and quality.

The True Love Story

Tiffany & Co. has always been seen as the symbol of  true love for many. True love encompasses many facets – such as romantic relationships, friendship and kinship.  The bulk of Tiffany’s advertising is often linked to romantic relationships – as its main products are diamond engagement rings and its sterling silver bracelets and necklaces. The Tiffany brand seeks to sell not just physical products, but it aims to give consumers the gift of intangible feelings such as warmth, happiness, and nostalgia in an elegant and classic manner.

Tiffany uses a variety of TV commercials and print ads which always speak of a love story. The ads are generally long (>3 minutes) and are often captured during the four seasons (Winter, Spring, Summer, Autumn). The ads feature regular people such as couples, families, the elderly and even children, instead of celebrities. Tiffany also uses music to capture the essence of the ad. For example, they will use a jazzy Christmas song to encapsulate the spirit of Christmas in their Winter advertisement. Interestingly, we discovered that Tiffany’s repetitive use of regular people living a lifestyle of simple luxury and elegance allows consumers to believe that they too, can live the lifestyle of those featured in the ads when they purchase Tiffany’s products. Tiffany believes in creating ads that are believable, distinguishable, and attainable.

Overall, we feel that Tiffany & Co. is not only a symbol of true love, but also represents the meaning of simple luxury, refinement, and elegance.

Global Strategy  Local Strategy  Brand Knowledge  Competitor Analysis  POP & POD   

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