What Are The Competitive Forces Confronting Tiffany Co....

1.What are the strategically relevant factors of the macro-environment that affect the attractiveness of the U.S. jewelry industry? Specifically, are general and industry economic conditions and socio-cultural factors favorable to Tiffany Co.’s business situation? Relevant factors are: political factors, economic conditions, socio-cultural forces, technological factors, environmental force, and legal/regulatory factors. Economic conditions and socio-cultural factors have not been favorable to Tiffany Co. Economic hardships and the recession have led to revenue declines between 2006 and 2010. Retail jewelers in the U.S. were affected by these poor economic conditions and stores dropped drastically. 2. How strong are the competitive†¦show more content†¦The primary market remains focused on affluent buyers. The company traditionally focused on the most discriminating consumers, and students may suggest that the company is attempting to shift to a broad differentiation strategy with its attempts to broaden its target market to be available to all buyers. It is uncertain that items carried for the touristy market really do constitute a significant percentage of the company’s sales. 5. What does a SWOT analysis for Tiffany Co. reveal about its ability to seize market opportunities and nullify external threats? A SWOT analysis for Tiffany Co. reveals various of things. Many people are likely to suggest that Tiffany Co is suited to an aging population. Tiffany Co. may be suited to an online presence because of finance. Tiffany’s strategy is not well-suited to expanding its product line to appeal to a wider target market because of the threat to brand. The company will be threatened by an increasing online presence if they do not respond. They key question is really what do Tiffany customers value? If the same or a better diamond is available for substantially less cost, is the fact that a Tiffany’s diamond was purchased at the Tiffany s store enough to compensate for that? Their financial performance would strongly suggest customers are still willing to pay the premium. Reduced wedding demand does not beneft Tiffany - but how much harm will be caused willShow MoreRelatedBlue Nile Case Study1194 Words   |  5 Pages1. How strong are the competitive forces confronting Blue Nile and other online retail jewelers? Do a five-forces analysis to support your answer. If you were to forecast the future, what would this analysis look like in 10 years? Potential entrants: Major online retailers, major jewelers, Village Silversmith Current Competitors: Ice.com, Gemvara, Diamond.com, Jamesallen.com, Astley Clarke Substitutes: Smaller/local Jewelry stores Buyers: Couples to be engaged Suppliers: Diamond mines, preciousRead MoreThe Environmental Scan: Tiffanys Little Blue Box1853 Words   |  8 Pagestechnological, competitive, and geographical. These factors are known as the environmental scan. Many businesses including Tiffany Co. are affected by the macro-environment which can include a number of factors as mentioned above. Economy is one of the main factors that affect many companies and Tiffany’s as well. I believe that general and industry economic conditions and socio-cultural factors are favorable to Tiffany Co. business situation because of the standing Tiffany Co. holds in the