Chapter 10: Product Concepts

      One of the most important elements of a business is a company's products. They can determine the success or failure of the company, which is often why product offereings are the key factor in marketing. There are two different categories when classifying products; business products and consumer products. Knowing these two types of products one could easily categorize the products made by Tiffany & Co. as consumer products, or products bought to satisfy an individual's personal wants. Products made by Tiffany's can also be considered as a shopping product, which is defined as a product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores. The products that are made by Tiffany & Co. consist high end jewelry and luxury items. With items such as rings, necklaces, and handbags, a consumer would certainly spend time to shop for the product, making it more than a convenience product, but may also accept substitutions, which makes it less than a specialty product.
       While Tiffany's full collection of products offered by the company would account for the product mix, there are more specific product lines. Being a company highly involved in fashion, it is no surprise that in order to keep up the constantly changing trends in the fashion world, the company must put out new lines of jewelry and other products quite often. This would account for the Fall and Spring lines that are pushed every year. Each of these lines have unique elements that make that line differ from the next. Often Tiffany's selects a specific designer to host that season's line or a portion of the line.

http://www.tiffany.com/Shopping/CategoryBrowse.aspx?cid=288189&mcat=148206#p+1-n+12-cg+viewPaged-c+288189-s+5-r+-t+-ri+-ni+1-x+-pu+-f+

Here is a link that leads to a portion of the Tiffany & Co. website which shows the collection of featured designer Paloma Picasso. There are many other sections of the website displaying the works of other designer's work from Tiffany & Co. product lines.

Another thing Tiffany offers is a Full Lifetime Warranty. A warranty is a confirmation of the quality or performance of a good or service.

http://www.tiffany.com/Expertise/Diamond/Certification/Promise.aspx

Here is the link of the description of the promises made by Tiffany's within their Warranty.