Machiavelli's Principles In The Prince To Maciffany & Co Case Study

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Applying Niccolò Machiavelli’s Principles in The Prince to Tiffany & Co. Niccolò Machiavelli, an Italian diplomat and philosopher, wrote The Prince during the period when the Medici family returned to power during the 16th century. In this book, Machiavelli describes and explains different points of advice for a prince to become a successful and reputable ruler. The Prince can be considered as a handbook for princes, and even after Machiavelli’s death in 1527, these ideas of guidance still holds true until today. The ideas presented in the book can also be applied in the modern business world for companies to follow. By following Machiavelli’s advice, such as maintaining people into the persuasion that they were influenced in and studying …show more content…
different from other luxurious brands. While sales of other luxury goods dropped during the Great Recession, Tiffany & Co.’s sales continued to increase. According to Jake Lynch, “Tiffany has managed to increase revenue 2.3% annually, on average, and boosted earnings per share 5.9% a year” (Lynch). One of the reasons for the loyal customer base that Tiffany & Co. has is due to its outstanding customer service. The jewelry company does well in creating an exclusive brand image while also showcasing excellent customer service in which the “company maintains a database of past customer purchases and encourages sit-downs with sales representatives in its stores” (Lynch). An exceptional customer service and a luxury experience will retain a loyal customer base that can lead to higher …show more content…
can be considered to excel in the competition in the jewelry industry. No other jewelry retailer has ever reached the success that Tiffany & Co. has, not only terms of sales and revenue, but also with the success it achieved in brand awareness. Just how Machiavelli described, a prince must be able to know not only the art of war but also its organization and discipline. This can be applied to Tiffany & Co. with the company’s business strategy. Tiffany & Co.’s brand image is its strongest factor that made it a company that lasted through centuries. The jewelry company has proven its extensive knowledge in the industry through branding, making Tiffany & Co. a company that appeals to the customers’ pathos, or emotions by evoking “thoughts of luxury, quality, and even love” (“Branding at Tiffany’s – How to Make Your Brand Sparkle”). By appealing to customers’ emotions, and delivering the greatest quality, Tiffany & Co. creates an emotional bond with ever purchase. This is something unique to the company and allows it to differentiate itself from other competitors in the jewelry industry, such as Fossil and Signet Jewelers (Key). Applying Niccolò Machiavelli’s recommendation to the prince about the study of art of war into the modern business world allows Tiffany & Co. to keep its place as one of the most successful jewelry retailers in the

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