Tiffany & Co Swot
By: Kj Worthington • Research Paper • 726 Words • November 12, 2014 • 901 Views
Tiffany & Co Swot
Names: Kyle Worthington, Kelsey Oakes, Lindsey Anderson, Kenny Gailey
Company: Tiffany & Co.
Strengths
Column 1 – Statement of Internal Strengths | Column 2 - Performance 1= Minor 5 = Major | Column 3 – Importance 1 = Low 5 = High | Column 4 - Strength Index Number | |||||||||
1 | 2 | 3 | 4 | 5 | 1 | 2 | 3 | 4 | 5 | |||
1. | Strong Financial Statements | X | X | 16 | ||||||||
2. | Superior Brand Name | X | X | 20 | ||||||||
3. | Strong Direct Selling Strategy | X | X | 16 | ||||||||
4 | Large Variety of Products | X | X | 16 |
- Tiffany & Co. has great financial sheet to look at. The company continues to increase assets to over 4.7 million and decreases liabilities to 2 million dollars. The stockholder equity is also growing at 2.7 million. This shows that the company has the flexibility to grow and expand.
- Tiffany & Co. has a great name to back up their high customer satiation rate. Everyone knows them as premier fine jewelry retail. Last year Tiffany & Co. ranked number 1 for F.A.V.E 50 for the best retailer on Facebook.
- Tiffany & Co. has many direct ways of selling their product such as stores, boutiques, online, and catalog magazines. The sell over 5000 products though their online stores.
- Tiffany & Co. can satisfy many customers though their wide range of jewelry, they also sell china, sterling silver, crystals, perfumes, and accessories.
Weaknesses
Column 1 – Statement of Internal Weakness | Column 2- Performance 1= Minor 5 = Major | Column 3 – Importance 1 = Low 5 = High | Column 4 - Weakness Index Number | |||||||||
1 | 2 | 3 | 4 | 5 | 1 | 2 | 3 | 4 | 5 | |||
1. | Lack of men items | X | X | 16 | ||||||||
2. | Lack of US presence | X | X | 12 | ||||||||
3. | ||||||||||||
4 |
- Lack of men items
Tiffany & Co is a well-known jeweler knows for their “little blue boxes” and their beautiful engagement rings that are inside of them. While women are the ones mostly looking at the rings, typically the men are the ones going to the store and paying for it to give to his future wife. While Tiffany & Co does have other items like necklaces, bracelets, etc. that are more likely to be bought by women for themselves, men still are a big buyer at the store. In the recent years, Tiffany & Co has worked on a men’s section and having a wider variety of men’s items, but they need to grow it. Men are coming in there to buy a ring, if something they want catches their eye, they are more likely to buy it rather than coming in on their own for a men’s item.