2020/2021 Masters Programmes
SUMMATIVE ASSIGNMENT COVERSHEET
Module: Marketing Management & Strategy
Z0 code Z0165725
Deadline date 11/12/2020
Word count 2504
Personal declaration:
I confirm that this piece of work is a result of my own work. Material from the work of
others not involved in the project has been acknowledged and quotations and
paraphrases suitably indicated.
Durham University Business School
Furthermore, I confirm that I understand the definition of plagiarism that is used by
Durham University, and that all source material has been appropriate cited and
referenced.
I understand that only the content in the main body of the work will be marked, and that
the content in the Appendices will be checked but will not contribute to the marking of my
assignment.
Instructions:
The main text of your assignment should come first in your submission, followed by all
Tables and diagrams, and any additional but secondary content, which should be placed
at the back of the assignment in the ‘Appendices’ section, after the
References/Bibliography.
This assignment should be produced in Arial, 12pt, with 1.5 line spacing. You should not
alter the margins from their current setting in this template.
Please note that these instructions overrule guidance that you may have seen elsewhere.
© 2020
, Part 1: Tiffany & Co. – 1502 words
Introduction
Created in 1837 in New York, Tiffany is one of the major players in the luxury
jewellery industry selling luxury goods such as diamonds and personal accessories.
326 stores are located all around the world, but with a particular focus on the
American territory, where the company registers the highest percentage of net total
sales (Tiffany & Co., 2020). Although the revenues and net profits have been rising
over the last decade, and the global market share is staying consistent, Tiffany has
registered a drastic decrease in the market share in the USA (Euromonitor
International, 2020). For this reason, we will focus our attention particularly on this
country.
Analysis
While Tiffany’s world sales are performing relatively well and the market share
remains stable, in the USA, the company is struggling to maintain the market power
and the light that once shone on the brand’s diamonds. The light is not as bright as it
was in the previous decades, and the main reason for this is that Tiffany is facing
several troubles in attracting young customers, or the so-called “Millennial
Generation”, especially in the USA. In addition to that, Tiffany’s dominance in the
industry is being undermined by growing luxury brands such as Cartier or Alex & Ani
and Pandora. The latter two brands are distant from the luxury that characterizes
Tiffany, but still they proved to be able to attract the young generation by providing
trendy, modern and customized products at lower prices. Tiffany has always been one
of the most known and respected brands where luxury personal accessories are
concerned, and in its more than 180 years of history, has always been successful in
creating and cultivating an atmosphere of exclusivity and splendour around the brand
and its iconic shining diamonds. This great success was certainly true for the previous
generations, but they seem to have underestimated the millennial challenge, as their
marketing strategies have been slow to adapt and adjust for the demographical
changes the jewellery is facing. Compared to its competitors, Tiffany has been left
behind and now it’s struggling to regain the market share it has lost over the last
decade. In fact, costumers, are now pointing their purchases towards companies that
© 2020 Page 1
SUMMATIVE ASSIGNMENT COVERSHEET
Module: Marketing Management & Strategy
Z0 code Z0165725
Deadline date 11/12/2020
Word count 2504
Personal declaration:
I confirm that this piece of work is a result of my own work. Material from the work of
others not involved in the project has been acknowledged and quotations and
paraphrases suitably indicated.
Durham University Business School
Furthermore, I confirm that I understand the definition of plagiarism that is used by
Durham University, and that all source material has been appropriate cited and
referenced.
I understand that only the content in the main body of the work will be marked, and that
the content in the Appendices will be checked but will not contribute to the marking of my
assignment.
Instructions:
The main text of your assignment should come first in your submission, followed by all
Tables and diagrams, and any additional but secondary content, which should be placed
at the back of the assignment in the ‘Appendices’ section, after the
References/Bibliography.
This assignment should be produced in Arial, 12pt, with 1.5 line spacing. You should not
alter the margins from their current setting in this template.
Please note that these instructions overrule guidance that you may have seen elsewhere.
© 2020
, Part 1: Tiffany & Co. – 1502 words
Introduction
Created in 1837 in New York, Tiffany is one of the major players in the luxury
jewellery industry selling luxury goods such as diamonds and personal accessories.
326 stores are located all around the world, but with a particular focus on the
American territory, where the company registers the highest percentage of net total
sales (Tiffany & Co., 2020). Although the revenues and net profits have been rising
over the last decade, and the global market share is staying consistent, Tiffany has
registered a drastic decrease in the market share in the USA (Euromonitor
International, 2020). For this reason, we will focus our attention particularly on this
country.
Analysis
While Tiffany’s world sales are performing relatively well and the market share
remains stable, in the USA, the company is struggling to maintain the market power
and the light that once shone on the brand’s diamonds. The light is not as bright as it
was in the previous decades, and the main reason for this is that Tiffany is facing
several troubles in attracting young customers, or the so-called “Millennial
Generation”, especially in the USA. In addition to that, Tiffany’s dominance in the
industry is being undermined by growing luxury brands such as Cartier or Alex & Ani
and Pandora. The latter two brands are distant from the luxury that characterizes
Tiffany, but still they proved to be able to attract the young generation by providing
trendy, modern and customized products at lower prices. Tiffany has always been one
of the most known and respected brands where luxury personal accessories are
concerned, and in its more than 180 years of history, has always been successful in
creating and cultivating an atmosphere of exclusivity and splendour around the brand
and its iconic shining diamonds. This great success was certainly true for the previous
generations, but they seem to have underestimated the millennial challenge, as their
marketing strategies have been slow to adapt and adjust for the demographical
changes the jewellery is facing. Compared to its competitors, Tiffany has been left
behind and now it’s struggling to regain the market share it has lost over the last
decade. In fact, costumers, are now pointing their purchases towards companies that
© 2020 Page 1
