Weighted Competitive Strength Assessment
The Weighted Competitive Strength Assessment compares Tiffany & Co. with its closest competitors using some of the key success factors and strength measures in the jewelry industry. The following is a weighted competitive assessment chart; this lists the strength measures, weights, and the overall scores. |Competitive Strength |Importance Weight |Tiffany & Co |LVMH |Signet Group |Blue Nile | |Measure | | | | | | | | |Strength | | | |Rating |
Tiffany and Company is a jeweler and specialty retailer. Tiffany has adopted multiple direct distribution channels. This strategy has enabled the company to emerge as a prominent player in the jewelry and specialty retailer segment. However, as counterfeit trade increases, the company stands to loose its brand equity. But as shown in the Weighted Competitive Strength Assessment chart, it can be said that Tiffany & Co holds strong reputation and brand image. Tiffany & Co.’s greatest strengths are ‘Strong Brand Name’, ‘Strong Direct Selling Strategy’, ‘Broad Offerings’ and ‘Strong Balance Sheet’. The company also has very good scores in customer service/ customer satisfaction, relative market share and relative cost position. Overall Tiffany & Co. is one of the leading brand names in the fine jewelry market; and also one of the world’s premier jewelry designers and retailers. The company’s leading brand name provides it with an edge over its competitors. (Datamonitor,...
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