Tanishq

Group 1PragathiSubhaJaideepPreetiGayatriAfsal

Contents

• Introduction• Marketing mix• Understanding buying behaviour of customers• Customer services offered• Segmentation and Positioning• The turnaround story• SWOT Analysis

Introduction

• Titan came into existence – July 1984• Jewelry watches and jewelry – 1994• Tanishq – tan (body) , ishq (love)• To change its image -

watch manufactures - fashion accessories manufacturer

Marketing mix

product

place

price

promotion

Product

Product variety• Plain gold jewelry, studded gold jewelry,

Platinum jewelry, silverware-product range and solitaires.

• 22K, 18K and 9K pure gold ear rings, bangles, chains, rings, nose pins etc.

Quality• 1st & the only jeweller-guarentees at the store• Claim and deliver quality• Built trust based on the same• Gold meters- check gold purity• Established as ethical player in the market• Differentiating factor –experience & quality in

store

Design• Frequent new and unique collections to cater

to variety seeking customers• Full fledged design studio and largest design

team in the country • Each piece is designed by team of award

winning designers• Adjudged the most admired jewelry brand in

2004• Breath taking jewelry- contemporary with

traditional touch

Place

• Crafted as one of the worlds most modern factories

• Factory complies- labor and environmental standards

• Located at Hosur Tamilnadu• Largest jewelry retailer in India• 131 in 83 cities• Export market

Pricing

• Products starting from Rs 600 …• Valentines day collections from Rs 2000 …• Attractive offers –up to 25% off• All day Diamonds from Rs 1960 …

Promotion Mix

• Advertising : Through print media, social media and television

Emotional appeal

Celebrity Endorsements

Collaboration PromotionCorporate Gold Gift Scheme(1998)

• “When you want to say thank you, say it in gold.”

• 1999 – Rs.20 crores worth gold coins to Maruti Udyog Ltd

• 2001 – 5% of turnover and 30 clients• Miniature gold cars – Hyundai Motors

Publicity• Sponsorships: Bollywood Tie-ups

Miss India Crowns and ‘Colors of Royalty’ Range

Tanishq Swarna Sangeetham

Public Relations

• Customer satisfaction measurement programme with CSMM

• Anuttara – Customer Loyalty Programme

Sales Promotion

Understanding buying behaviour of customers

• Till the early 1990s: Investment rather than adornment => 18 kt was not favoured

• Confidence in local jewellers => ignorant• Late 1990s : shift in consumer tastes• Regarded jewelry as an accessory• Customers wanted a wider selection

First jewelry retailer to focus on experience factor…

• Customization• Exchange policy• Purity checks: Karatmeter• Anuttara• ”

• Golden Harvest Savings scheme

• Swarna nidhi scheme

Concept stores – “Revitalizer of Tradition”

Segmentation & Postioning

• Niche Marketing • Positioned – international brand for Indian elite• Since 1997: Mass marketing

Geographical segmentation Satisfy tastes of all regions Ethnic designs Transpose designs-Bengali in Delhi ….• Psychographic segmentation Lifestyle – Working women

REPOSITIONING

• Same product and target market• Change in image of product• Product Repositioning :• Product – modified to make it more acceptable to its target

segment to serve the customer needs effectively

• Intangible repositioning Different market segment with same product Ex- Diamonds starting from Rs15000 onwards• Tangible repositioning• Product and target market changed Move up or down a market Gold plus and Zoya

Trading up and downGoldplus• Low end customers• Plain gold jewelry + very

less studded jewelry : Diamantine (first time in India)

• Presence in 32 towns spread across 5 states

Zoya• High end customers• Exquisite diamond jewelry• 2 boutiques

Competitors for Tanishq

• Gitanjali group

• Traditional jewellers

The Turnaround Story

• Unsuccessful Launch – Unorganised jewelry sector– New concept : 18 kt and contemporary– Family jewellers

• Setting things right– Gone wrong in 2 areas – 1. Product proposition 2. Retailing

• Westernised to Indian• 18 kt to 22 and 24 kt• Designs from various states and transmigration• Localised promotions• In-house designers designed based on current

trends• Complete freedom to retail outlets to pick up

designs• Karatmeter• Bold step towards professionalizing Indian jewelry

business• Focus on smaller cities• Standard gold price

• Strong backing of the Titan Industries of the Tata Group and TN Govt.

• Standard gold pricing• Award winning designs • Competitive prices• Caters to all market segments with sub-brands• Has its presence in over 83 Indian cities

SWOT AnalysisStrengths

Opportunities• Expanding to global markets• 99% of potential Indian gold market

Weakness• Negative perception – Brand was only for

the rich• Strong labour union

Threats

• Competition from traditional jewellers• Increasing gold price affecting the low end

customers

Thank You!