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Sales channel for Tiffany and Company

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Questions:

Select a product and research it. Provide a presentation of the channels that are used to deliver it to the end-user. Consider the following:
? Which channels mentioned do you think are most efficient and why?
? Should the company consider discontinuing or adding channels to its strategy? Explain.

Answer:

The product I choose was Tiffany & Co. which was established On September 18, 1837 by Charles Lewis Tiffany and John B. Young which was called Tiffany & Young. There first day's sales total $ 4.98. The name, Tiffany & Co. was established in 1837 which is when the little blue box was introduced which was chosen to symbolize the company's renowned reputation for quality and craftsmanship. The color was adopted for use on Tiffany & Co. promotional materials.

Over time, this lustrous color became so closely identified with Tiffany & Co. that it is today universally recognizable as the trademark Tiffany Blue. You can recognize Tiffany products for afar. Tiffany uses several channels to market its products. First they have their own Sales book which is sent out to customer who has purchased for them before. 2nd they have ads on the internet. 3rd they market through TV ads. Out of the ads mention I feel TV ads would be the most efficient because you have a wider range of audience that may be willing to give Tiffany's products a try.

Tiffany should not consider adding channels to their strategy because they are a very successfully company. Why fix it when it's not broker. They have very loyal customers who will be with them for time to come. Tiffany is a company they strive for excellent customer services. Their product isn't cheep therefore, they feel they can charge a higher price and give great quality. Tiffany has been around for a long time. Their name alone sells their products.

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Solution Summary

In my opninion the sales book sent to select group of customers is the most efficient channel because Tiffany products is associated with high society and class.

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In my opninion the sales book sent to select group of customers is the most efficient channel because Tiffany products is associated with high society and class. Customers feel proud and feel associated with the company when sent a sales book to a privileged class. Television ...

Solution provided by:
Sandeep Bardia, MBA
Education
  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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