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Tiffany Marketing Strategy through Segmentation, Targeting and Positioning - Essay Example

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The researcher of the paper examines marketing strategy of Tiffany company which includes a segmentation, targeting and positioning. Also, the author examines the applying these methods for widening a market of the Tiffany company…
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Tiffany Marketing Strategy through Segmentation, Targeting and Positioning
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Download file to see previous pages As such, the company has done well over the past years, which have seen it develop strong grounds in the international markets. According to Philip (2006), the company involves a variety of jewelry such as watches and designers collections. These may be classified as accessories or even gifts depending on the intention of the client.
During seasonal events, Tiffany does advertisements as per the season as well as producing relevant products in the market for their clients so as to enable them to have better choices to make availed by the variety. For instance, at present, we have the festive season where people intend to offer a gift for Christmas to their loved ones. The company has a provision of this within their coverage of products. According to Garrod and Fyall (2005), a proper consideration of this may be seen in their advertisement as viewed on various websites and social sites. Catalogs have also been released providing relevant information on the products available for the season.
For the remainder of their products, more details are availed to the customers so as to enable them to make an informed choice before going ahead with a purchase. Iman (2002) maintains that being an international company, the internet mode of advertisement works well for it. However, there is a need for diversion in advertisement modes so as to improve the extent of coverage in targeting more clients. As a there is a need for the company to establish market segmentation as will be realized in the subsequent sections. According to Bennett and Wilhelm (2001), this will be enhanced through various means together with the targeting of specified segments and ensuring proper positioning of products in the marketplace.
In order to give a clear insight of this section, it is crucial to have an understanding of what is meant by a market. ...Download file to see next pagesRead More
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