- Executive Summary
Tiffany & Co. is one of the eldest jewelry retailers in the United States, celebrating this year its175th anniversary. Ranked 73rd in the top 100 Brands by Interbrand, Tiffany & Co. is one of thestrongest brands in its industry. Furthermore, beyond its leading position Tiffany & Co. carries amythical image in consumer minds due to its communication strategy. The Tiffany Blue box hasbeen for decades the symbol of romance and true love.
The audience of the fine jewelry industry has recently widened and Tiffany products are nowavailable to a large number of consumers. Therefore, the Brand needs to sustain its dominantposition, in particular through its marketing communication strategy. The marketing objectives ofTiffany & Co. are thus to develop a strong and unique brand image in consumers’ minds and to beat the forefront of the innovation in order to remain a dominant player in its industry. The mainoverall communication goal is to develop long-lasting relationships with customers.
Tiffany & Co.’s communication relies on a push strategy consisting in broadly raising brandawareness, developing brand attractiveness and building positive attitudes. Tiffany & Co. hasmanaged to remain a prestigious and exclusive brand while understanding the emerging needs ofa new audience in the upper middle class with a lower purchase power. Tiffany has also managedto extend its communication, while keeping its consistency, from the old advertising tools such asoutdoor billboards to the new social trends, by engaging in active conversations with its targetaudiences.
Consequently, Tiffany & Co. has been able to develop a brand identity and at the same timeto adapt its firm communication to the evolving needs of its audience. For instance, the famousBlue Box, and more generally the Tiffany blue color have been widely used since the Brand wascreated have become trademarks since then. They have contributed to shaping the brand imageand its consistency over the years. At the same time, Tiffany has been at the forefront of marketinginnovation. An example is their recent commitment to the protection of the environment, of humanrights and of the communities in which they do business. This corporate responsibility has becomea key part of the company’s identity and values. Another example is the recent marketing of a newpiece of metal, called Rubedo, with new properties, which illustrates the innovations led by Tiffany.
Tiffany & Co. therefore provides a very interesting example of an integrated marketing com-munication strategy and of the challenges of implementing innovative strategies while maintaininga brand image.