Tiffany & Co (PR Plan)

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Global Public Relations @ Emerson College
PR Campaign Launching Tiffany In Lisbon

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  • Housewares, to show variety of Tiffany’s products White gold (<19.2 kt), titanium products, to show variety of non-gold options Colored gems, to show understanding of local flavor
  • Tiffany & Co (PR Plan)

    1. 1. Tiffany & Co. in Portugal Chen-Chen Ho, Mandi Lu, Marie Nicolini, & Zeenat Rasheed
    2. 2. Agenda <ul><li>Tiffany’s company profile </li></ul><ul><li>Portugal market </li></ul><ul><li>SWOT Analysis </li></ul><ul><li>PR Objectives </li></ul><ul><li>Publics </li></ul><ul><li>Messages & Strategies </li></ul><ul><li>Tactical Programs </li></ul><ul><li>Measurement </li></ul><ul><li>Budget </li></ul><ul><li>Event Execution </li></ul>
    3. 3. Tiffany & Co. <ul><li>One of the world’s most iconic jewelry brands </li></ul><ul><ul><li>Quality, luxury, trust </li></ul></ul><ul><ul><li>Blue Box </li></ul></ul><ul><ul><li>Breakfast at Tiffany’s </li></ul></ul><ul><li>Wide product selection </li></ul><ul><ul><li>Diamonds and jewelry, especially engagement rings </li></ul></ul><ul><ul><li>Sterling silver </li></ul></ul><ul><ul><li>Watches </li></ul></ul><ul><ul><li>Fine china and housewares </li></ul></ul><ul><li>Exclusive collections by famous designers </li></ul><ul><ul><li>Paloma Picasso, Frank Gehry, Elsa Peretti, Jean Schlumberger </li></ul></ul><ul><li>New ranges and products launched frequently, based on holiday or season </li></ul><ul><li>Grand, opulent stores located in most fashionable areas </li></ul><ul><li>Over 150 stores in the U.S. and internationally; 21 in Europe </li></ul>
    4. 4. Lisbon, Portugal <ul><li>Portugal is located in southwestern Europe </li></ul><ul><ul><li>Population: 10.62 million </li></ul></ul><ul><li>Lisbon is the biggest city and capital </li></ul><ul><ul><li>Metro population: 2.6 million </li></ul></ul><ul><li>Popular tourist destination, known for its health tourism </li></ul><ul><li>Locals are fashionable and very proud of their rich history, heritage and culture </li></ul><ul><li>Famous for producing filigree gold jewelry, typically made by family owned businesses carrying on traditions of craftsmanship </li></ul><ul><li>Baixa/Chiado area known for high-end jewelry stores </li></ul>
    5. 5. SWOT Analysis <ul><li>Strengths </li></ul><ul><li>Iconic jewelry brand with global recognition </li></ul><ul><li>Prestige, blue box equity </li></ul><ul><li>Wide product variety, including affordable ranges </li></ul><ul><li>Excellent, personable customer service </li></ul><ul><li>Local designer influence in store design; locally-inspired collections created for launches </li></ul><ul><li>Weaknesses </li></ul><ul><li>Portuguese are traditional buyers of yellow gold </li></ul><ul><li>Portugal regulations stipulate that “gold” must have 19.2 karats or more, 18 kt jewelry cannot be marketed as gold </li></ul><ul><li>Could be perceived as too expensive, exclusive </li></ul>
    6. 6. SWOT Analysis <ul><li>Opportunities </li></ul><ul><li>Portuguese are fashionable, existing demand for gold jewelry </li></ul><ul><li>Large tourist base to tap into </li></ul><ul><li>Receptive to new fashions and design in high-end market </li></ul><ul><li>Increasing number of working women has led to rising demand for right hand/thumb/cocktail rings </li></ul><ul><li>Local Portuguese jewelry industry is seeing declining revenues due to outsourcing and lack of modernization </li></ul><ul><li>Existing Baixa/Chiado area specializes in high-end fashion and offers good location for store </li></ul><ul><li>Threats </li></ul><ul><li>Lowest per capita income in Europe </li></ul><ul><li>Less demand for wedding rings/gifts due to more “live-in relationships” and fewer weddings </li></ul><ul><li>Tend to prefer Portuguese designs and locally produced jewelry </li></ul><ul><li>Due to increase in gold prices, have have begun to buy costume jewelry </li></ul><ul><li>Limited media outlets available: only 7.5% of Portuguese read a newspaper daily; heavy TV watchers, but less than 20 channels </li></ul>
    7. 7. Objectives <ul><li>Position Tiffany jewelry as a must-have </li></ul><ul><ul><li>More fashionable and exclusive than locally produced jewelry </li></ul></ul><ul><ul><li>Promote brand attributes: quality, luxury, trust </li></ul></ul><ul><li>Convince consumers that authentic, non-traditional jewelry is affordable and more desirable than costume jewelry </li></ul><ul><ul><li>Possible to balance price with fashion, quality and prestige </li></ul></ul><ul><ul><li>Distribute information about 18 kt, white gold and sterling silver Tiffany products </li></ul></ul><ul><li>Be seen as a recognized player in the Portuguese and European jewelry industry </li></ul><ul><ul><li>Bringing modernization and design to the market </li></ul></ul><ul><ul><li>Participate in industry events </li></ul></ul>
    8. 8. Publics Consumers Men (Proposals, Gifts) Women (Gift to self) Industry Other Retailers, Vendors Media TV and Newspaper Journalists
    9. 9. Messages & Strategies <ul><li>You can trust the timeless beauty and exceptional quality of Tiffany’s jewelry to express the depth of your love and commitment </li></ul><ul><li>Establish brand essence about the store, jewelry and the blue box in local press </li></ul><ul><li>Tiffany’s jewelry is an expression of the modern woman’s independence, strength and impeccable taste </li></ul><ul><li>Partner with local women’s/fashion magazines to promote the brand </li></ul><ul><li>Tiffany's can be trusted to provide high-quality, fashionable products, and is committed to building valuable relationships with its customers </li></ul><ul><li>Be viewed as high-quality, credible and trustworthy by influential TV and press journalists </li></ul><ul><li>Tiffany’s is a modern, global enterprise with connections with top-notch designers, and can transform the Portuguese jewelry industry </li></ul><ul><li>Participate in industry events and distribute information about the company </li></ul>
    10. 10. Tactical Programs <ul><li>Media </li></ul><ul><ul><li>Hold an extravagant launch party with blue carpet, local celebrities, exclusive collections, locally inspired collections (Silver Coast/Blue Coast?), and local cuisine/wines </li></ul></ul><ul><ul><li>Distribute press kits </li></ul></ul><ul><ul><li>Provide regular press releases on new collection launches </li></ul></ul><ul><ul><li>Release quarterly editorial newsletter to share company information </li></ul></ul><ul><ul><li>Hold 1-on-1 press outreach events </li></ul></ul><ul><li>Industry </li></ul><ul><ul><li>Participate in Portjoia (annual international jewelry expo held in Porto) with a booth, information materials, seminars </li></ul></ul><ul><ul><li>Develop reports on industry trends, to gain credibility with trade media, e.g. how changing lifestyles are affecting jewelry consumption trends </li></ul></ul><ul><li>Consumers: Men & Women </li></ul><ul><ul><li>Partner with local women’s/fashion magazine and health spa to hold “pamper yourself sweepstakes”, sponsored by Tiffany’s </li></ul></ul><ul><ul><li>Gain a presence on local reality TV programming </li></ul></ul><ul><ul><li>Provide jewelry for TV news anchors to wear </li></ul></ul>
    11. 11. Q3-Q4 2009 Flowchart 2009 Q3 Q4 July August September October November December Consumer Health Spa Sweepstakes (Marketing) Health Spa Sweepstakes (Event) Reality TV Sponsorship TV News Sponsorship Media Launch Party Press Outreach Event Quarterly Newsletter Press Release (about sponsorship) Press Release (about sponsorship) Press Release (Dec 1-7) Press Kits Press Release (about Sweepstakes) Press Release (about winner) Press Outreach Event Press Release (Dec 7-15) Press Release (about Launch) Quarterly Newsletter Industry Portojoia Industry Trend Report (EOY) Press Kits
    12. 12. Success Metrics <ul><li>O1 & O2: must-have ; affordable and more desirable than costume jewelry </li></ul><ul><ul><li>Product sales </li></ul></ul><ul><ul><li>Positive reviews (clippings) and buzz in the press, magazines, TV shows </li></ul></ul><ul><ul><li>Good WOM, in-store comments </li></ul></ul><ul><ul><li>Survey to gauge initial progress </li></ul></ul><ul><li>O3: recognized player in industry </li></ul><ul><ul><li>Leads or new business opportunities generated by trade-show </li></ul></ul><ul><ul><li>Positive reviews (clippings) in trade media </li></ul></ul>
    13. 13. Budget (Q3-Q4 2009) <ul><li>Tier 3 market </li></ul><ul><li>Total Budget: $410K </li></ul>PR Agency Costs Tactical Program Costs
    14. 14. Event Execution <ul><li>Portojoia Trade Show </li></ul><ul><li>September 23-27, 2009 in Porto </li></ul><ul><li>Colored Gems theme </li></ul><ul><li>~2,000 exhibitors </li></ul><ul><li>~100,000 visitors </li></ul><ul><li>Event Budget: $20,000 </li></ul>
    15. 15. Portojoia Booth <ul><ul><li>Open Prestige Stand Package </li></ul></ul><ul><ul><li>27 sq. meters </li></ul></ul><ul><ul><li>Incl. display cases with cold spotlights and glass shelves, other furniture, and booth lettering </li></ul></ul><ul><ul><li>Listing in general exhibitors list and electronic catalog </li></ul></ul><ul><ul><ul><li>White & Gold Goldsmithery </li></ul></ul></ul><ul><ul><ul><li>Candelabra/Candlesticks </li></ul></ul></ul><ul><ul><ul><li>Jewelry set with Emeralds/Rubies/Sapphires </li></ul></ul></ul>
    16. 16. Portojoia On Display Colored Gems White Gold Housewares
    17. 17. Measurement Metrics <ul><li>Generate 3 to 5 new business opportunities with Portuguese/European manufacturers </li></ul><ul><li>To help Tiffany’s “localize” their store offerings </li></ul><ul><li>Receive positive reviews about Tiffany’s being a leader in Portugal in 5 to 6 mainstream and industry media outlets </li></ul>
    18. 18. Media Coverage <ul><li>Local Press </li></ul><ul><ul><li>Jornal de Noticias (Largest newspaper in Portugal) </li></ul></ul><ul><ul><li>Diario do Noticias (Most prestigious newspaper in Portugal) </li></ul></ul><ul><li>International Press </li></ul><ul><ul><li>Invite reporters from international trade media to cover smaller, less-known event </li></ul></ul><ul><ul><li>Show Tiffany’s as supporter of Portuguese industry </li></ul></ul>Publication Name Frequency Content Circulation JCK Jewelers Circular, Keystone 4x per year Written by an international team for retail jewelers 24,940 JQ Magazine 6x per year Targeting upscale retail jewelers and designers 17,500 Couture International Jeweler 4x per year Writen by international team in US and Europe for prestige jewelry market 15,500 Rapaport News & Diamonds.net Daily Internet portal dedicated to reporting news on the world diamond industry Not Available
    19. 19. Event Budget Program Element Cost (Euro) Cost (USD) Booth € 6,299 $8,225 Trade Show Materials € 1,915 $2,500 Press kit development & Translation € 1,685 $2,200 Media training € 804 $1,050 Bringing in foreign journalists € 3,848 $5,025 Courting local journalists € 765 $1,000 TOTAL € 15,316 $20,000
    20. 20. T HANK Y OU!
    21. 21. Sources <ul><li>Tiffany.com </li></ul><ul><li>CIA.gov </li></ul><ul><li>Hoovers.com </li></ul><ul><li>Frommers.com </li></ul><ul><li>GoLisbon.com </li></ul><ul><li>VisitPortgual.com </li></ul><ul><li>Portojoia.com </li></ul><ul><li>Vault.com Tiffany’s Company Profile </li></ul><ul><li>European Journalism Center (EJC.net) </li></ul><ul><li>“ Tiffany & Company: A Case Study” by Stephanie Blackburn ( http://smu.edu/ecenter/discourse/Blackburn.htm ) </li></ul><ul><li>“ The Power of Tiffany’s Blue Box” by Fool.com ( http://www.fool.com/news/foth/2001/foth010411.htm ) </li></ul><ul><li>“ The Jewellery Market in Portugal” CBI Market Survey (September 2008) by the Centre for the Promotion of Imports from Developing Countries (CBI.nl) </li></ul>

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