Chapter 5: Developing a Global Vision

             In today's society, it is nothing out of the ordinary for a company to have markets in more than one place. Often it can be close by, however, more frequently companies are branching to completely different countries. Marketing that targets markets all over the world is known as global marketing. Having a global vision is imperative for a company's success in global business. This will allow the company to be aware of the specific market, including opportunities, strategies, and threats, of the country or area in which the market is. There are many specific factors involved when taking part in international business.
            Tiffany & Co. is an example of a company that takes part in global marketing. Other than the original and flagship store located on 5th Ave. in New York, Tiffany & Co. 64 stores in the U.S. and over 104 stores worldwide. Other than North America, the company owns store in Asia, including China, Japan, and Korea; Australia; and in Europe including Austria, Belgium, the UK, France, Germany, Ireland, Italy, the Netherlands, Spain, and more. Having so many store locations allows the company to expand its audience of customers, as well as increase sales. However with having so many international markets comes certain responsibilites, which are essential for the company's overall success.
             When a company has a variety of markets all over the world, it needs to be aware of each individual business location. Thsi is because each location will most likely have a different marketing environment. This may include different types of customers, cultures, pricing and distribution qualities, ect. Knowing these factors will allow the company to determine effective marketing, advertising, and promotional strategies for each location. Tiffany & Co. has been able to adapt their sales tactics and stratgies with great success in order to maintain their worldwide sales. One example of a way they have adapted in order to accomodate for differences in business locations is that on the Tiffany & Co. website is a feature in which you may choose from the different countries which the stores are located and gain specific information and see everything in that country's language. This allows international buyers to shop with ease without any types of cultural barriers. Tiffany & Co., along with other companies with global markets must pay very close attention to international details specific to each location in order to succeed in global marketing.

This is the part of the Tiffany & Co. website which allows you to chose between each international location:

http://www.tiffany.com/International.aspx