Life is so Coooool

Tiffany&Co. as one of the world leading jewlery company, has made lots of changes of its products’ prices along the company’s historical development.

Tiffany&Co.’s products was known as luxury personal accesories as it has been established. The pricing strategies was to set the price at a high level, so that the high price created a expensive brand image to public, in order to make Tiffany belong to high level categories.

As time goes by, Tiffany found out that if it wanted to make more sales, the pricing strategies must be changed to fit the current market environment.  Therefore Tiffany&Co. changed some of the silver products’ prices to a lower level, so that lots of young people could afford them. Such examples like the 925 series silver accesories. The price was at a range of 100-200.

However, at a later time, Tiffany found out again that the low price had has changed the brand image because people thought that they could have Tiffany accesories at a normal price. And this was an situation that Tiffany did not want to see. As a result, Tiffany deceided to raise its products’ price, and change the stores’ decoration to a higher level, so that people would enjoy comfort in store environment while they are shopping at Tiffany.

Even though the brand image for Tiffany has started changing since its new pricing strategies, there is a long time to go through because changing the brand image is not an easy goal to achieve.

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