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.