Introduction
Advertising and promotional activities form a very critical part in the success of any company. Marketing involves all activities of a company that are geared towards communicating to the market, while promotion implies raising the awareness of customers in relation to a particular brand or product, creating brand loyalty and generating sales (Kapferer & Bastien, 2012). This paper therefore discusses the advertising activities of two companies- Tiffany & Co and Byram Jewelers. It will compare and contrast these companies and point out any differences and similarities in terms of their media strategy.
Tiffany & Co is a luxury multinational silverware and jewelry corporation headquartered in New York City. The company sells jewelry, …show more content…
The top three features that Tiffany & Co expects from use of mobile apps are exclusive updates about new services and products, early access to their sales and loyalty programs. The main area where luxury or high-end companies differ from now-end companies such as Byram Jewelers is their mobile usage and satisfaction. While the mobile is playing a significant role in everyone’s life today, it has an even bigger role for high-end companies.
In digital marketing, the mobile is a critical component. Tablets and smartphones have a direct correlation with the income of a household, and it is evident that there is more shopping among affluent customers. By recognizing this, Tiffany & Co has established a good online presence to increase its market influence. As a matter of fact, it was the first company to implement an online marketing strategy in the luxury industry (Sommerfeld, …show more content…
Tiffany & Co differentiates some aspects of its advertising efforts in terms of offering, promotion and prices. The company uses various segmentation strategies to ensure that the advertising message appeal to a particular group. They include demographic segmentation by using demographic variables to segment the market, demographic segmentation by targeting customers in terms of income, gender, age, religion, lifestyle and race. Psycho-demographic segmentation has also played a significant role in the advertising activities of Tiffany & Co. In this strategy customers are segmented in terms of lifestyle, personality and values. At the same time Tiffany uses the behaviour strategy to identify users and various patterns of decision making among customers to inform their advertising
Advertising and promotional activities form a very critical part in the success of any company. Marketing involves all activities of a company that are geared towards communicating to the market, while promotion implies raising the awareness of customers in relation to a particular brand or product, creating brand loyalty and generating sales (Kapferer & Bastien, 2012). This paper therefore discusses the advertising activities of two companies- Tiffany & Co and Byram Jewelers. It will compare and contrast these companies and point out any differences and similarities in terms of their media strategy.
Tiffany & Co is a luxury multinational silverware and jewelry corporation headquartered in New York City. The company sells jewelry, …show more content…
The top three features that Tiffany & Co expects from use of mobile apps are exclusive updates about new services and products, early access to their sales and loyalty programs. The main area where luxury or high-end companies differ from now-end companies such as Byram Jewelers is their mobile usage and satisfaction. While the mobile is playing a significant role in everyone’s life today, it has an even bigger role for high-end companies.
In digital marketing, the mobile is a critical component. Tablets and smartphones have a direct correlation with the income of a household, and it is evident that there is more shopping among affluent customers. By recognizing this, Tiffany & Co has established a good online presence to increase its market influence. As a matter of fact, it was the first company to implement an online marketing strategy in the luxury industry (Sommerfeld, …show more content…
Tiffany & Co differentiates some aspects of its advertising efforts in terms of offering, promotion and prices. The company uses various segmentation strategies to ensure that the advertising message appeal to a particular group. They include demographic segmentation by using demographic variables to segment the market, demographic segmentation by targeting customers in terms of income, gender, age, religion, lifestyle and race. Psycho-demographic segmentation has also played a significant role in the advertising activities of Tiffany & Co. In this strategy customers are segmented in terms of lifestyle, personality and values. At the same time Tiffany uses the behaviour strategy to identify users and various patterns of decision making among customers to inform their advertising