ali birston's blog

Are diamonds really a girl’s best friend?

Given the long-term success of the Tiffany & Co. brand, it sure seems like it! Tiffany & Co. has been around for over 170 years and somehow has remained popular among women all over the globe to this day. Their jewelry is quite expensive despite it’s simplicity, so how have they managed to build their enormous success?

The answer: an incredibly strong and recognizable brand.

After reading Mikayla Chan’s post titled “Tiffany & Co.: STP” I was inspired to do a little research of my own about this company for which I have always had a great love for (despite not owning a single piece of jewelry from there…well yet). I definitely agree with her STP analysis and in the fact that they have successfully positioned themselves as a high class upscale jewelry retailer mostly to men looking for a special gift; however, would like to add my insights as to their branding and why it has helped them achieve such incredible success.

What differentiates Tiffany’s is their brand reputation and brand associations. Their brand awareness is extremely high among consumers and according to their management, “the Tiffany & Co. brand is the single most important asset of the company”. When the name Tiffany & Co. is mentioned, the words romance, luxury, and class all come to mind, and because of this high perceived value, consumers are willing to pay a premium.

Their advertising is simple yet chic and their reputation for quality is undeniable. The brand identity, higher prices and luxurious store atmosphere all help Tiffany & Co. stand out in the industry. And after all who wouldn’t be absolutely thrilled to untie the white ribbon on the unmistakable little blue box!

Another interesting blog post: “How to Succeed like Tiffany & Co.”

Pictures: http://make-upoverdose.blogspot.com/2010/07/tiffany-co-launches-bag-collection-in.html

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