Tiffany & Co. Marketing Plan:
Working with a team of 6 students, we looked at Tiffany & Co. through the eyes of marketing professionals, seeking to connect the Tiffany brand with the experience of wonder for people 25-40 years old, making less than $100,000 per year. Throughout the process we conducted primary and secondary research, interviewing people about the concept of wonder, and their current impressions of the Tiffany brand and offerings. The end goal was to recommend growth opportunities that connected to the experience of wonder.

Through our research, we found that wonder was created often when a product exceeds a person’s expectations, and those experiences that take an extra moment to enjoy can cause a person to pause and reflect – “to be caught in the moment”. Especially interesting are those experiences that engage the whole body.

We preformed a marketing audit, and discovered opportunities in the “affordable luxury” market segment. Tiffany’s market location as an aspirational brand offers them a perfect pedestal to launch a line of affordable products and create customers for life.

Ultimately, our recommendation was to increase Tiffany & Co.’s presence in the home goods segment, building on their already strong representation in categories such as crystal and china. We propose an extension of this collection to include household linens, branded as the Tiffany Home Collection. The marketing message builds on Tiffany’s mission statement – “Making Every Day More Wonderful.”

We developed a new positioning statement and strategy for Tiffany & Co. in addition to some supporting tactics, including: enhancing customer service to include personal shoppers and stylists focused on home products, hosting special home decorating in-store events, and establishing partnerships with boutique hotels and spas who will exclusively use the Tiffany Home Collection products.

This project was purely speculative, and included no contact with Tiffany & Co by the team.

Marketing Plan presentation available upon request.

Date: Spring 2009
Class: Market Insight Studio
Contributed to: Primary and Secondary Research, Competitive Analysis, Persona Development, Ideation, Concept Development, Project Management