Tiffany & Co Essay Example | Topics and Well Written Essays - 6000 words

Tiffany & Co - Essay Example Though Tiffany & co. is the price leader, the stores locations make it convenient to its customers. This is a strong marketing mix and other retailers may compete with the company by increasing their number of stores but this does not compare to the low price strategy used by Tiffany & co. Tiffany & co. has been a powerful retail brand and therefore has a good reputation for its value for money. Its convenience and the provision for a wide range of products have contributed to its strengths in the market. Tiffany & co. has also grown substantially over the recent years therefore has experienced global expansion. The company has a core competence which involves the use of improved information technology that supports international logistics systems for example the company carries out a market research that enable the company to see hoe the products perform countrywide and store by store. 2. Review of company and its business The company was the first to win an award in excellence in U S for its silverware. This was in 1867 and in 1877 the company released its logo of cross which was rare as it could only be offered to combat awards. Tiffany & Company also is said to be among the largest private employers having about 9,000 employees as at 2009. Sandra and Roy (1997) shows the company generates revenue of more than $2.86 billion. percent of sales from the grocery business and has therefore focused in opening stores for example in 2007, the company was operating about 64 stores in US which was a total of 480,000 gross square feet. There are also 104 international stores totaling to 300,000 gross square feet. Fairfax Square located in Tyson’s Corner opened in 1990 is the largest outside New York.... The intention of this study is Tiffany & co as first winner of an award in excellence in US for its silverware. This was in 1867 and in 1877 the company released its logo of cross which was rare as it could only be offered to combat awards. Tiffany & Company also is said to be among the largest private employers having about 9,000 employees as at 2009. Sandra and Roy shows the company generates revenue of more than $2.86 billion. percent of sales from the grocery business and has therefore focused in opening stores for example in 2007, the company was operating about 64 stores in US which was a total of 480,000 gross square feet. There are also 104 international stores totaling to 300,000 gross square feet. Fairfax Square located in Tyson’s Corner opened in 1990 is the largest outside New York. The most profitable location was the store in Costa Mesa in California then the New York store and Boston Copley Place. The company’s social responsibility is to plan and develop a program that will promote community development and to enable more people to improve their life. It also advocates for zero rate waste. Tiffany & co.’s mission involves enhancing and integrating supplier diversity programs where it will be categorised in procurement practices. These practices advocate for minority people in the society especially enabling women to open their own businesses. Some of the ingredients that have contributed to the success of Tiffany & co. include the strengths and virtues of the company’s founder. This is due to his overriding vision and unchanging values.