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Posted: August 29th, 2022
Environmental Scanning Exercise
The Chief Executive Officer (CEO) of Tiffany & Co recently stepped down amid continued financial struggles and
disappointing sales results for the upmarket jewelry retailer. To increase sales, Tiffany & Co has decided to target a new
consumer segment, “self-buying women.” From the United States to Europe and Asia, growing numbers of financially
independent women are deciding that they are not going to wait to receive jewelry from partners and husbands and are
increasingly buying their own jewelry. (Hence, the term “self-buying” women).
Women today are more financially independent than ever before, and they also trust their own taste rather than that of their
partner or spouse. Rising female jewelry self-purchasing is coinciding with historic numbers of financially independent women
who have more disposable cash available than ever before. They are proud of their independence and want firm evidence for
their own self-satisfaction.
“Women make better purchases for themselves than men do,” said one jewelry designer. “You don’t send your boyfriend or
husband to buy you a dress because you don’t know what he might come back with. The same principle applies to jewelry.”
Please select a key demographic, social, competitive or economic trend similar to the emergence of “self-buying women” and
explain how it will, or should, affect the marketing strategy (i.e. segmentation, targeting, and promotion) of a company of your
choice.
It is important that you select both an interesting company and a trend for this case. You will be graded based on the quality
of your examples and analysis. Your papers should be approximately 400 words in length.
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