Tanishq Brand Management
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Tanishq Brand Management

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Tanishq Brand Management Presentation Transcript

  • 1. Jewellery Industry In India  In 2012 jewellery category grows 19% in current value terms to reach Rs1,750 billion  South India as a jewellery hub of India supports growth of jewellery category  Costume jewellery most dynamic in 2012, rising 25% in current value terms to reach Rs 65.7 billion  Jewellery category remains fragmented and largely dominated by local and regional players  Overall sales led by Tanishq from Titan Industries Ltd with 3% value share in 2011  Constant value sales projected to see 13% constant value CAGR over forecast period  In 2012 costume jewellery grew by 25% in value terms to reach Rs65.7 billion.
  • 2. Macro Environment  Branded jewellery is <10% of the market.  Urban Market - 38% of this base.  Product Mix: Largely plane 22 karat with gem set jewellery constituting less than 10% of the market  Key players: Fragmented market, mainly retailer driven.  Most retailers are unorganized  Absence of hallmarking  Tanishq is the first branded jewellery player  Increased investment by industry bodies (DTC, PGI, WGC) is spurring rapid growth of branded jewellery market in India
  • 3. Introduction  Tanishq is India's largest, most desirable and fastest growing jewelry brand in India.  Started in 1995, Tanishq is the jewelry business group of Titan Industries Ltd promoted by the TAT group.  Tanishq has set up production and sourcing bases with through research of the jewelry crafts of India.  Located at Hosur, Tamil Nadu, the 1,35,000 sq. ft. factory is equipped with the latest and most modern machinery and equipment.  Tanishq also introduced professional retailing in the un-organized Indian jewelry bazaar  Tanishq has successfully taken on the challenge of transforming this frontier into a reliable consumer space by bringing to it all the virtues and benefits that branding offers
  • 4. Primary Competitors  Gitanjali Gems  Reliance Jewels  Mehrasons Jewellers (Delhi)  Tribhuvandas Bhimji Zaveri (Mumbai)  B.C. Sen and P.C.Chandra (Kolkata)  G.R.Thanga Maligai (Chennai)  C. Krishnaiah Chetty (Bangalore)  Laxmi Dia Jewel Pvt Ltd (Surat)  Rajesh Exports Ltd (Bangalore)  Swarnmandir Jewel Designer (Karnataka)
  • 5. Generic Business Level Strategy
  • 6. Brand Identity PROMISE OF PURITY AND A UNIQUE EXPERIENCE • Design and retail innovation have been the hallmark of Tanishq all these years. • First and only jeweler who guarantees the purity of its gold jewellery and certifies the quality of its diamonds and colored gems in writing. STP Trust Luxury Superior Product • It has established itself as a highly ethical player in a market that was rated as having the highest incidence of under karatage (Bureau of Indian Standards). • They even have gold meters where one can check the purity of gold. • Tanishq also has been positioned as a branded jewellery of luxury rather than commodity. It moves jewellery beyond investment to the fashion and adornment sector. In order to compete with the regional players, Tanishq introduced the concept of “consistency in delivering promise”.
  • 7. Segmentation  GEOGRAPHIC SEGMENTATION: – Tanishq has 121 stores across 76 cities (metropolitan and cosmopolitan, small cities and big towns in India) and still expanding. – Example: Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Pune, Cochin, Calicut, Coimbatore, Nagpur, Chandigarh, Dispur, Lucknow, Jalndhar, Nagpur, Nasik etc.  DEMOGRAPHIC SEGMENTATION: – SEC: Upper – middle class to Lower – Upper class women. – Age group: 21 – 55 married women  BEHAVIORAL SEGMENTATION: – Consumers, who understands uniqueness, sophistication, elegance and class.  PSYCHOGRAPHIC SEGMENTATION – Life Style: Tanishq has found that 40% of the Indian women are working and they targeted this segment with a specific group of products called collection-G, a 9-to-5 jewellery for the working women.
  • 8. Targeting  Women living in metropolitan and cosmopolitan cities, big towns etc.  Upper middle class and above  Age bracket:  20 – 30 year old newly married  31 – 40 year old married with children  41 – 55 year old with daughters of marriageable age.
  • 9. Positioning PROMISE OF PURITY AND A UNIQUE EXPERIENCE Trust • Design and retail innovation have been the hallmark of Tanishq all these years. • First and only jeweler who guarantees the purity of its gold jewellery and certifies the quality of its diamonds and colored gems in writing. • It has established itself as a highly ethical player in a market that was rated as having the highest incidence of under karatage (Bureau of Indian Standards). • They even have gold meters where one can check the purity of gold.
  • 10. Luxury • Tanishq also has been positioned as a branded jewellery of luxury rather than commodity. It moves jewellery beyond investment to the fashion and adornment sector. Superior Product • Tanishq is known for its ability to develop specialized design collections. • It is the only jeweler that houses a fullfledged design studio with a team of several international award winning Indian designers.
  • 11. Swot Analysis
  • 12. Strengths  One of the most trusted jewelry brands in India  Titan Industries of the Tata Group  Excellent branding and advertising  Offers simplistic and lowpriced jewelry for daily wear Weakness Fluctuating gold prices Market share of less than 1% owing to high competitive intensity Lower margins Limited Global Presence Threats Opportunities Customized jewelry design Tapping global markets Tie up with corporate and business partners Competition from large unorganized sector as well as local players Fashion trend keeps changing Investors have stopped investing in gold as a hedge against inflation
  • 13. 7p’s of Tanishq
  • 14. Product Based on Tangibility • Tanishq Diamond Tanishq Gold Tanishq Platinum Based on Experience/Occasion • Tanishq wedding collection Moham Fashion Colors of royalty
  • 15. Product  DESIGN:  Tanishq is known for its ability to develop specialized design collections.  Each piece of jewellery is designed by a team of award winning designers  Designed to suit all forms of attire, western and Indian, casual and formal.  ARIA, for seven stone diamond jewellery Hoopla, focused on diamond studded hoops Collection-G for lower priced gold jewellery  BRAND NAME:  Brand name ensures innovation.  Considered equivalent to purity and tradition.
  • 16. Price Tanishq range of products start at an accessible low of Rs. 600 and the range - Solo, Aria, Diva, Hoopla, Lightweights, Bandhan and the most recent, Colours - comprises wearable everyday jewellery which has been designed for the urban working woman. Very large collections of pendants, earrings and fingerings in this price range Rs 2000-5000 The Tanishq Valentine‟s Day collection includes pendants, earrings and finger rings starting from Rs. 2,000 onwards. The 'up to 25 per cent' off offer by Tanishq is a unique opportunity. This attractive offer has been introduced to benefit the customers and provide them with the best price and product options Mass Market Pricing
  • 17. Price High-value diamond range (with retail price of Rs 2 lakh and above) Zoya, Tanishq‟s high-end brand that primarily retails diamond jewellery, is showing a slow buildup. It currently has two stores (in Mumbai and Delhi) with a range of 20-25 Lakh. High End Pricing Kundan and Polki range starts from Rs 5 lakh onwards. Tanishq‟s “Paheli” range starts at Rs.80000 and “Jodha Akbar” range at Rs. 1 Lakh.
  • 18. Place  Tanishq opened 30 retail stores during FY08, taking the tally to 130 stores. Currently, the average storesize for Tanishq is 1,000-1,500 sq ft.  Tanishq retail identity has evolved over the years to offer large format and concept stores that reflect the brand‟s philosophy of being “Revitalizer of Tradition”.  It has opened two pilot stores at Chicago and New Jersey with a retail format of 1,800-2,000 sq ft.  The Tanishq retail chain currently includes 112 exclusive boutiques in 75 cities, making it India's first and largest jewellery retail chain.
  • 19. Advertising & Promotion  Two promotion strategies opted by Tanishq:  Cultivate trust by educating customers about the unethical practices in the business  Change the perception of jewellery as a highpriced purchase. Product Placements  Brand Ambassadors  Paheli  Shridevi  Jodha Akbar  Amitabh Bachchan Collection  Jaya Bachchan  Race 2  Asin  Deepika Padukone  Diya Mirza  Karishma Kapoor
  • 20. Print Ads  Festive ads
  • 21. Print Ads Magazines The April 2011 issues of Grihshobha and Woman's Era saw what is said to be “the largest ever collaborative cover in magazine publishing in India”. A promotion for Tanishq Jewellery, the SuperWrap Cover was spread across eight A4 sides and folds around the main magazine multiple times.
  • 22. Print Ads – “Diamonds of Class” Campaign The whole idea behind the campaign was to show a woman of grace and poise...a bold, graceful, charming, dazzling woman with unique tastes and personal style, ultimately showcasing Tanishq diamonds which compliment her exotic life and adventurous spirit.
  • 23. “My Expression” - Digital Campaign for Mia  On 26 December 2011, Tanishq launched an online contest inviting consumers to submit ideas for sub-brand Mia (launched in November 2011) - a new line of jewellery for young working women  Tanishq focused on initiating an online activity mainly through social media, targeting the younger audience group. "We wanted to get inputs from them on what kind of designs would appeal to their age group. We wanted to see how they interpret design and utility of jewellery, and then create a line of jewellery that would appeal to this section of the market,“ - Sirish Chandrashekhar  Through a crowd sourcing campaign called 'My Expression', Tanishq chose 10 finalists who have gone on to co-create the Mia collection along with Tanishq's design team.  „My Expression' received more than 3200 entries, and these attracted 40,000 people to vote online.
  • 24. Other Promotional Activities • Tanishq initiated a loyalty program called the Golden Harvest Savings Scheme, which offers buyers the benefit of getting more jewellery than what they have paid for. The scheme allows consumers to plan future purchases in advance and pay for them in easy installments. • In 1998, it launched the corporate gold gift scheme - 'When you want to say thank you, say it in gold„. • To tap the Southern Market: – They have been engaging in press advertising and social programs in order to engage culturally with the Tamil community. – They are also planning to make a Tamil film. The consumer in that market still considers Tanishq an outsider as opposed to their local jeweller. But they want them to see Tanishq as their family jewellers now.
  • 25. People Designers & Managemen t trainees from premiere institutes Performance /Competency linked career growth Path at management and manufacturing level Karigar Park • Karigars work exclusively for Tanishq • Provides tools & raw materials • Better hygiene and medical facilities
  • 26. Physical Evidence Experience • Showcasing • Surround effect • Speaking effectively • Zoya: stores for differential premium segment Trust • They even have gold meters where one can check the purity of gold. Heritage • Architecture inspired by heritage • Revitalizing traditional Indian Jewellary
  • 27. Brand Architecture
  • 28. Types Of Jewellery Available
  • 29. MIA: BLUSH: The Taj Collection Beautiful jewellery for working ladies To celebrate the a light & youthful combination of feminity, filigree and fine worksmanhip One feels like a Princess with this beautiful and exquisite range of Jewellery.
  • 30. Rhythmic Flow Designs: Right from her birth in gangotri to her eventual departure, ganga is full of emotion. As she journeys down the icy slopes of the Himalayas, her initial calm gives way to an elegant flair
  • 31. CELESTE: ARIA: Solitaire Diamonds Floral Neckpiece IVA: DIVINE CHANT: Bracelet FaithFul
  • 32. Wedding Collections Its not just any wedding. It's yours. The special time in your life when all eyes are on you, so look the best you ever will in undoubtedly irresistible Tanishq jewellery that honours the specialness of every mood, ceremony and community in gold, diamonds, kundan, polki & precious stones.
  • 33. Wedding Collections Adorn Yourself with traditional designs Capturing the essence of sacred rituals that honor the pledge of your journey forward.
  • 34. Thank You
  • 35. Designed By 12 - Shivani Desai 26 - Ruchita Khandelwal 39 - Varun Punjabi 43 - Karishma Savani 47 - Niraj Sheth 57 - Dimple Virani
  • 36. References • Source: Euromonitor • http://www.slideshare.net/Rose1601/bictanishq?from_search=5 • http://www.slideshare.net/kadavadkar/copyof-tanishq-presentation?from_search=8 • http://www.slideshare.net/Amritaksha/marke t-review-for-tanishqpresentation?from_search=12