Local Strategy

Global Strategy  Brand Knowledge  CBBE Pyramid  Competitor Analysis  POP & POD

Place

Along with its flagship store located in Ngee Ann City on Orchard Road, Tiffany & Co. can also be found in four other retail stores in upscale shopping malls such as the The Shoppes at Marina Bay Sands and Changi Airport. The strategic location of its local stores is consistent with its strategy worldwide – to reinforce the brand’s luxury connotations through association with other luxury brands.

The interior design of its local store also features a unified design scheme – a store environment of carved glass and marble, stainless steel and the glow of Tiffany Blue. Architects and interior designers utilize these elements to build an environment that is steeped in history and instantly recognized by its many facets of elegance and tradition.

For online presence, although Tiffany & Co. does not have a local domain for its website at the moment, local shoppers are still able to browse its online catalog via the international domain.

Price

Tiffany & Co. positions itself as an arbiter of taste and style in the jewelry segment, whose primary consumers comprise of upper-income individuals. However, with the growing number of consumers demanding luxury at mid-level prices, Tiffany & Co. decided to use this trend to its advantage by appealing to the middle-income consumers. Tiffany now includes more sterling silver in its collection as its strategy to appeal to both the middle-income segment and younger consumers.

Product

Tiffany & Co. offers almost the same range of products in Singapore as it does worldwide. This includes its signature jewelry, timepieces, sterling silverware, china, crystal, stationery, fragrances and accessories.

Promotion

Aside from advertising through the traditional avenues, Tiffany & Co. has caught up in the era of social networking and established a strong online presence. Tiffany & Co. tries to engage consumers worldwide via its Facebook, Twitter and Instagram accounts. These accounts are frequently updated with its newest collections and latest news. Since sharing of photos through these social media are so convenient, these sites increase exposure of its brand worldwide. Tiffany & Co. has also cleverly made use of the hashtag function, where both local and worldwide fans and followers can easily search, share and participate with fellow Tiffany & Co devotees. One such hashtag is the #TrueLovePictures where photos are updated onto the website for its “What Makes Love True” campaign.

Global Strategy  Brand Knowledge  CBBE Pyramid  Competitor Analysis  POP & POD

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