Tiffany Target Market

Purpose of the research A market research plays an important role in business. It helps us a lot in business decision making by eliminates the risks that involve when operates a business. Besides, obtaining up to date information enables us to have a better understanding in customer’s needs thus provides the products or services that attractive and suit with them. The study of market is also one of the tools to evaluate the performance of the business within same industry. It can enhances the growth of a company or business by developing appropriate strategies. Moreover, a market research provides us the ability to estimate the future trend. It allows us to anticipate the consumer’s wants and easily adopts to adjustment of products.

Background

is toward high end buyer. Generation X, Y and baby boomers are categorized in this category. Generation X women have the ability to demand for high quality or luxury goods like jewelry while Generation Y women more conscious about fashion, trend and like to follow the latest trends. Baby boomers are more brand minded and willing to purchase the expensive jewelry although there is limited money. Tiffany & Co. is not only serves women but also men. However, women are the key customers for the company as compared to men. Tiffany & Co ‘s main target market is upper middle and upper class women. The company is well known for Tiffany jewelry, especially for its diamond. Majority of the women prefer diamond because they believe the existence of true love in their lives. Hence, they have a strong purchase motivation towards the brand value of Tiffany & Co. Women are also attract by the unique design of the jewelry that offered by Tiffany & Co. Tiffany & Co. is renowned for its diamond and unique design. Therefore, the company offers a series of diamond collections to satisfy the consumer’s needs. Tiffany & Co. has a high diamond standard and Tiffany diamond is a symbol of high quality and extraordinary. Many women are attracted by the nature of beauty for its

provides a wide variety of jewelry such as engagement rings, love lockets, necklace and others. An engagement ring is a legend of Tiffany & Co, the brilliant diamond is dazzling in it and the ring also special in its classic design. Tiffany engagement rings show to the world the highest jewelry standard. It always presented in the Tiffany Blue Box and Master Tiffany craftsmen are full of passion to ensure the outside of the rings is as beautiful as the inside. There are many types of diamond cuts are available for the engagement rings. For many women, these rings reflect perfectionism, promise of love, sophistication and fashionable. Besides, wearing a Tiffany necklace can attract other people’s attention. The collections in the Tiffany & Co. consists of several types of star necklaces. The style of necklaces range from sterling silver to platinum. Some of the necklaces are come in the simple design while others accented by gemstones and diamonds. Tiffany Stars Pendant is a necklace designed by using a single star and there is round diamonds inside platinum. This design is simple and able to reflect the special characteristic of Tiffany