A project report on consumer behaviour comparison between gili & tanishq on diamond products

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A project report on consumer behaviour comparison between gili & tanishq on diamond products

A project report on consumer behaviour comparison between gili & tanishq on diamond products

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  • 1. Projectsformba.blogspot.com Consumer Behaviour PROJECT REPORT OF CONSUMER BEHAVIOUR COMPARISON BETWEEN GILI & TANISHQ ON DIAMOND PRODUCTS SUBMITTED TO Page no. 1
  • 2. Projectsformba.blogspot.com Consumer Behaviour Table of Content GILI V/S TANISHQ 1. INTRODUCTION 2. HISTORY 3. MARKET SCENARIO 4. DIAMOND SPECIFICATIONS 5. COLLECTIONS 6. BRAND AMBASSADORS 7. OUTLETS 8. SERVICES 9. POINTS OF DIFFERENCE BETWEEN GILI & TANISHQ 10. EXPANSION 11. MARKET SHARE 12. MARKETING STRATEGIES, SALES & DISTRIBUTION 13. COMPETITION 14. ACHIVEMENTS 15. WHICH BRAND ACCORDING TO ME IS BEST & WHY? 16. IF I WERE IN POSITION TO ADVICE THE COMPANY TO INCREASE SALES, WHAT I WOULD HAVE SUGGESTED? 17. SOURCE OF INFORMATION 18. QUESTIONNAIRE Page no. 2
  • 3. Projectsformba.blogspot.com Consumer Behaviour V/s 1. Introduction About Gitanjali Group: Gitanjali Gems Ltd (GGL), Established in 1966, is one of the earliest diamond houses in India. GGL is the only company, which retails some of the reputed brands like Gili, Nakshatra, Asmi and DDamas thru its arms and associates Gili was the first branded jewellery introduced in India. Gitanjali Group, integrated diamond and jewellery manufacturer and retailer. Gitanjali Gems Ltd today said the company has acquired the Mumbai-based Gili India Ltd (GIL), strategically positioning itself as the leading diamond studded jewellery-manufacturing company; today has one of the largest fully integrated diamond and jewellery manufacturing plants in the country. Gitanjali Group is engaged in the business of sourcing rough diamonds, its manufacture, import and export of diamonds, manufacture of plain and diamond studded gold and platinum jewellery and its marketing and domestic retailing. The very basis of their existence is to successfully develop, produce and sell high-quality jewellery brands worldwide & helps the customers in getting the maximum Value – For – Money in the process. It has two modern diamond manufacturing facilities located at Borivali in Mumbai and at the Special Economic Zone at Surat in Gujarat. It also has a large sophisticated jewellery designing and manufacturing facility at the SEEPZ and two jewellery manufacturing facilities at MIDC all in Andheri, Mumbai. For branded jewellery, GGL has established a large retail setup, which includes 26 exclusive distributors across India with around 620 outlets Page no. 3
  • 4. Projectsformba.blogspot.com Consumer Behaviour including those in host stores, five standalone stores and 17 franchisee stores in 30 cities and towns in India. For its future growth, the company is expanding its production capacity by setting up additional diamond and jewellery manufacturing facilities in Mumbai and in the proposed Gems and Jewellery Special. About Tanishq: Tanishq is Indias 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 TATA group, Indias most respected and widely diversified business conglomerate. This year marks a decade of successful innings for Tanishq. With retail sales of 1200 crore last year and gunning for 2000 crores this year, Tanishq has arrived in the Indian jewelry market. It is a story of a successful Indian enterprise, which has delivered value to its customers and shareholders in a complex category, marked by its completely localized front end as well as back end. Tanishq has set up production and sourcing bases with through research of the jewelry crafts of India. Jewelry at Tanishq is crafted in one of the worlds most modern factories. The factory complies with all labour and environmental standards. Located at Hosur, Tamil Nadu, the 1, 35,000 sq. ft. factory is equipped with the latest and most modern machinery and equipment. Every product at Tanishq is pain stakingly crafted to perfection. Diligent care and quality processes ensure that the Tanishq finish is unmatched by any other jeweller in the country. Tanishq challenged the age-old jewellers word with TATAs guaranteed purity. It exploded the market with facts about rampant impurity across India. It introduced technology-backed challenge in a category completely governed by individual trust. Tanishq introduced innovations like Karat meter, the only non destructive means to check the purity of gold. Tanishq also introduced professional retailing in the dis-organised Indian jewelry bazaar, where women can shop with comfort and peace, without worrying about the purity of the jewelry they are buying, as well as, select from the best jewelry collections available in the Indian market. Tanishq today is Indias most aspirational fine jewelry brand with 91 stores in 64 cities, with an exquisite range of gold jewelry studded with diamonds or coloured gems and a wide range of equally spectacular Page no. 4
  • 5. Projectsformba.blogspot.com Consumer Behaviour jewelry in 22Kt pure gold. Exquisite platinum jewelry is also part of the product range. USP: Pure Jewellery, Pure Joy 2. History In 1994 the Gitanjali group introduced India’s first ever branded jewellery Gili. Rated as a super brand, the brand still ranks as one of the top ten jewellery brands in the country. Over the years the group has launched many other superior brands and today it successfully manages over five of the ten best-known jewellery brands in India. Gili’s primary brand value is “Genuine diamond and gold jewellery at affordable prices”. The first jewellery brand that brought diamond jewellery within the reach of masses. Tanishq was born in 1995 after the Tata Group decided to spread its wings and embrace the branded jewellery segment. It was set up as a division of Titan, the group company that had transformed the Indian watch-making industry. Internationally, watches and jewellery have a sturdy synergy and are often retailed out of the same store, with design being a key driver in both categories. It made sense for a watch company with a strong retail presence to look at its next wave of growth from the jewellery segment, which had a huge potential. Tanishq had a high-profile launch, but its initial production was restricted to the studded jewellery segment. Its strategy changed soon after to accommodate the Indian preference for buying gold jewellery. Tanishq then tacked to a mix of studded and gold jewellery and went in for a fusion-design approach. Its initial methodology of using western designs changed as it sought a wider market. This revised strategy was initiated in the year 2000, when a new management team took over and turned around Tanishqs fortunes. Page no. 5
  • 6. Projectsformba.blogspot.com Consumer Behaviour 3. Market Scenario • Gili Jewellery, an 18 karat diamond studded brand, was launched in 1994. This ushered in the birth of branded jewellery in India. A radically new concept, it is a range of branded diamond jewellery for the masses. Gili offers pendants, earrings, rings in 18-carat gold studded with small, well-cut, good quality diamonds, as matching sets or by themselves; in a variety of designs that boggle the imagination. It is simply high quality, diamond-studded, designer jewellery at prices The Gili range was launched as more `wearablejewellery, as opposed to the kind you stored in your `locker. "We wanted the college going generation and office-goers to be able to wear our jewellery without constantly worrying about its safety," says Sangani. Today, Gili offers 18-karat plain and diamond stud jewellery, which is suitable for daily wear. Indians, especially women, have a fascination for jewellery that goes back centuries. One manifestation of this continuous love affair with body ornamentation is the fact that Indians are the worlds biggest buyers of gold. The market for jewellery in the country is second only to that for foods and the trade is built around so-called family jewellers - the relatively small, stand-alone establishments that are ubiquitous across the land. Tanishq belongs to the House of Tata and, true to the groups policy; it aims at bringing in credibility and professionalism to the jewellery industry. India’s jewellery market is estimated to be worth Rs. 400 billion a year and the share of the organized sector - jewellery stores and brands managed by corporate houses - stands at about Rs. 10 billion. This small but significant niche is largely the creation of Tanishq, a path-breaking effort that has earned a well-deserved reputation for reliability and excellence, and for introducing pioneering concepts in an industry where tradition once ruled. The brand has a 40% share of the organized jewellery market and a 1% bite of the overall jewellery pie (Source: World Gold Council and Mckinsey study 2003). There are more than 300,000 independent, non-branded jewellery retailers in India. The vast majority of these are singular entities that function out of individual cities, though a few have expanded to acquire a state-wide Page no. 6
  • 7. Projectsformba.blogspot.com Consumer Behaviour presence. By and large, they offer conventional Indian designs and are difficult to pin down on quality, since standards within this segment vary considerably. 4. Diamond Specifications Cut, Color, Carat & Clarity The 4Cs are used throughout the world to classify the rarity of diamonds. Diamonds with the combination of the highest 4Cs ratings are rarer, and consequently more expensive. Light is the element that ignites a diamonds brilliance and fire. Its interplay with each of the 4Cs will help explain why one diamond can appear more beautiful than another. The good news is that you dont need to buy the rarest diamond to find one whose beauty speaks to you. Cut is the only one of the 4Cs of diamonds that is influenced by the human hand. The rest (color, clarity and carat) are created naturally as diamonds form in the earth. At Tanishq we ensure that the most ideal cut diamonds are used, so that the facets when arranged in precise proportions maximize brilliance and sparkle. Cut - refers to angles and proportions of a diamond. Page no. 7
  • 8. Projectsformba.blogspot.com Consumer Behaviour Color - refers to the degree to which a diamond is colorless. Carat - refers to the weight of a diamond. Page no. 8
  • 9. Projectsformba.blogspot.com Consumer Behaviour Clarity - refers to the presence of inclusions in a diamond. Page no. 9
  • 10. Projectsformba.blogspot.com Consumer Behaviour 5. Collections GILI Products: Diamond, Rings, Pendants, Bracelets, Earrings, Bangles, Two- Tones, Color Stones, Sets. Collections: Valentine Commitment, Chinese Zodiac, Sign Zodiac, Gili Teens, Corporate Gifts, Pendants, Agni, Diamond Heart, Princess and Forever Collection Gili has a unique and timeless collection of precious jewellery. Whats more, these fabulous pieces are available at really affordable prices, with the Gili certificate of authenticity In 1997 Gili introduced Rivaaz, a collection of ethnic Indian jewellery. The brand has also come out with a range of 24-carat jewellery with a guaranteed .995 fineness under the launch name Gili Gold. Gili has also launched a range of diamond clusters under the name Agni set in yellow and white gold. It has to its credit added Gili plus, a premium range of diamond-studded jewellery priced above Rs 20, 000. Page no. 10
  • 11. Projectsformba.blogspot.com Consumer Behaviour TANISHQ Products: Colors of Royalty, Moham, Diamonds Collection, Wedding Collection, Aria, Tanishq Design Accolades, Jodhaa Akbar Collection Description: Colors of Royalty a range of exquisite studded jewelry, reminiscent of the magical Victorian era. The collection is inspired by the classic design essence. The collection Moham comprises designs, motifs inspired by nature that have been beautifully crafted to make them the most desirable possession this season. No gemstone expresses human emotions more powerfully than a diamond. After all, a diamond is timeless and finding your perfect piece of diamond jewelry is an exhilarating and unique experience. The bride blushes everyone around smiles. The shehnai announces festivity. The priests chant auspicious promises. Page no. 11
  • 12. Projectsformba.blogspot.com Consumer Behaviour Page no. 12
  • 13. Projectsformba.blogspot.com Consumer Behaviour 6. Brand Ambassador Bipasha Basu gives brand glitter to Gili. Bipasha Basu Pose for Gili Jewels – Huge Scan going by the promos of ‘Bachna Ae Haseeno’ Bipasha Basu, a leading Indian film actress has been signed on by Gitanjali Group as the new brand ambassador for its diamond jewellery retail brand Gili. The actress will be the new face for an undisclosed time frame. The Gili brand has been one of the very first diamond jewellery brands in India. It has grown over the years into 500 outlets across 30 cities in the country, besides being retailed through shop-in-shop formats. Gili has been noted for its unique retailing formats, by setting up its stores at sites like airports in elite areas. Its exclusive showrooms are called Gili World. Mehul Choksi, Chairman, Gitanjali Group and Nakshatra, said, “In our effort to find the right brand ambassador for Gili, a brand of mass appeal, we have stumbled upon Bipasha Basu to endorse her alluring personality on its products, which is a rhapsody of the traditional and modern. Not only were we enthusiastic about the brand fit, but we also feel that Bipasha lends a refreshing look to the brand. We are excited about having her on board as the new face for Gili.” Current Advertising Agency doing promotions for Gili is: Equus Red Cell Fort, Mumbai Page no. 13
  • 14. Projectsformba.blogspot.com Consumer Behaviour Asin gives brand glitter to Tanishq. Current Advertising Agency doing promotions for Tanishq is: Lowe Page no. 14
  • 15. Projectsformba.blogspot.com Consumer Behaviour 7. Outlets Gili has it’s manufacturing outlet at Andheri East. It has 256 outlets of which 3 are exclusive stores Gili is also present in stores like AKBARALLYS, ASIATIC, CITI PLAZA, GILI WORLD (AIRPORT), JUST IN VOGUE, LIFESTYLE, PANTALOONS, SHOPPERS STOP, WESTSIDE, Gili is spread throughout the cities of India. Gili stores are run well with strength of 7-10 executives & a head of the outlet. No. of employees vary from one shop to another depending on how big the Showroom or the outlet is. Its peek Hours are between 6 to 9 pm Apart from the conventional jewellery stores, Gili is also available at up- market stores like Shoppers Stop, Lifestyle, Globus and Hi-style. Gili is known for its Diamond Heart collection, popularised through the Valentine Day concept. This collection can also be bought through a mail-order catalogue. Page no. 15
  • 16. Projectsformba.blogspot.com Consumer Behaviour North: - 1) Delhi, Flagship Store at Connaught Place Tanishq, No. E-4, Inner Circle Connaught Place New Delhi-110 001 Ph: 011-64613545/ 43588368 Fax: 011-23730917 2) Delhi, Flagship Store at South Extension Tanishq, No. G-16, Part – I, South Extension, Main Market, New Delhi - 110 049 Ph: 011-65656577 Fax: 011-6468058(Ro-North) 3) Delhi, Greater Kailash Tanishq, No. M-68, M Block Market, Greater Kailash, Part I, New Delhi - 110 048 Ph: 011-55694999 / 51731635 East: - 1) Kolkata, Flagship Store at Camac Street, Tanishq Fort Knox, No. 6, Camac Street, Kolkata - 700 017 Ph: 033-22827910 / 22827768 / 655 01539 / 64515330 2) Kolkata, Ghariahat, Tanishq, No.9/3, Leela Roy Sarani, Ghariahat Road, Kolkata - 700 019 Ph: 033-24603065 / 24603067, Fax: 24602469 3) Kolkata, Kankugachi, Tanishq, No.P-308, C.I.T. Road, Scheme VI M, Kankugachi, Kolkata - 700 054 Ph: 033-23549529 / 23549530 / 23549531 Fax: 033-3549532 / 033-2388192 West: - 1) Mumbai, Flagship Store at Khar, Tanishq, 365/C, Linking Road, Khar, Mumbai-400 052 2) Mumbai, Ghatkopar, Tanishq, 19-21, Kailash Plaza, Vallabh Baug Road, Opp. Odeon Cinema, Ghatkopar East, Mumbai - 400 077 Ph: 022-25128020 / 25127684 3) Mumbai, In orbit Mall, Tanishq, G-11, In orbit Mall, Mind Space, Malad Link Road, Malad, Mumbai – 400068 Ph: 022-56406945/ 56406938 South: - 1) Chennai, Tanishq, S-1, Shastri Nagar, 2Nd Avenue, M.G. Road, Adayar Chennai - 600 020 Ph: 044-52151919 / 55517251 2) Chennai, Anna Nagar, Tanishq, A1, 2Nd Avenue Anna Nagar East, Chennai - 600 102 Ph: 044-26194810 / 26192759 3) Chennai, Flagship Store at Cathedral Road, Tanishq, Crown Court, 34 Cathedral Road Chennai - 600 086 Ph: 044-28110368 / 28110405 Fax: 044-24345079(Area Off) Page no. 16
  • 17. Projectsformba.blogspot.com Consumer Behaviour 8. Services After Sales services to retain the customers: Gili wants its Customers to be delighted every time they shop. Occasionally though, there are situations where customer would like to return the product or exchange it with a new one. Understanding this need of consumer Gili introduced Exchange Policy& Buy Back Policy at any point of time & anywhere in India. It helps Gili to retain their customers & forms a good relation; also customers become Brand Loyal because of such services. Gili was the first one to come up with Branded Diamond Jewellery in India, Gili is not the No.1 Brand; but Gili is one of the Top 5 Diamond Jewellery Brands. Current events: - Gili Launches the Heart of Gold and Gili Turns 10 At Tanishq its not just the products, it’s the experience that matters. We make sure that we give you the premium quality of not only product but service as well. Tanishq not only has an exquisite range of designs to meet all your requirements we also offer the benefit of any modification or customization on products. There are host of value added services that you can avail of at Tanishq like the Golden Harvest Savings Scheme, Gift Voucher purchase, Exchange of gold and diamonds etc. Golden Harvest Saving Scheme Tanishq’s “Golden harvest Savings Scheme” is one of the most lucrative savings schemes that enables to save each month with Tanishq and plan for wedding jewelry purchases. Your monthly installments are safe with us, whereas savings at home could easily get spent. This scheme provides you with much better returns than other saving options like bank deposits or post office savings schemes. In addition, Tanishq’s special bonus at the end of the scheme period helps you stretch your jewelry budget. Tanishq revives Indias glorious past in Jodhaa Akbar: Launches prêt line Tanishq Jodhaa Akbar collection Page no. 17
  • 18. Projectsformba.blogspot.com Consumer Behaviour 9. Points of differences between Gili and Tanishq Gili: 1) It is dependent on other retail outlets and malls 2) Specialized in Diamonds products 3) It has wide range of products under diamond and gold Tanishq: 1) It has self outlets of its own 2) Speaclized in Bridal Jewellery 3) Deals mostly in Stones and Gems very less collection for Diamonds 10. Expansion Gili on expansion spree -- To go international; launches premium jewellery THE Mumbai-based House of Gili is making its foray into the international market by teaming up with retailers like Damas (for the UAE market) and Marina B (for the Swiss market) to have retail outlets in malls and hotels all over the world. With an investment of Rs. 2.5 crores, the brand is expecting a sale of about $3 millions in the first year. The brand will also be made available in Sri Lanka and Malaysia. Mr. Shailesh Sangani, Managing Director, Gili, said, ``we will sell our jewellery under our own brand name, unlike others who export their products. This would include all the warranties and ethnic designs which Gili offers to its consumers in India. Besides, Gili is extending its brand to launch Gili Plus _ a premium range of diamond studded jewellery priced upwards of Rs. 20,000. Gili was launched in 1994, targeting mainly the youth who wanted to celebrate Valentines Day. Since then, the brand has clocked a turnover of Rs. 90 crores. The new high- end sub-brand from Gili will now target the slightly older woman with a penchant for diamonds. However, the size of the products will be larger and will include bangles, bracelets and necklaces _ most of which are missing from the existing Gili range. Tanishq, the jewellery business group of Titan Industries, is the blockbuster action thriller from the Tata group. Tanishq has 104 stores in 71 Indian cities; Gold Plus has a presence in 21 towns. Tanishq to expand retail outlets aims Rs 3,000 cr sales. The jewellery- Page no. 18
  • 19. Projectsformba.blogspot.com Consumer Behaviour making facilities of the Company at Hosur were commissioned in 1994. We intend to spend approximately Rs. 775 lakhs on equipment for line balancing and productivity improvement. Tanishq is the primary brand under which we market our jewellery. We opened the first Tanishq jewellery store in Chennai in 1996. Currently, we sell Tanishq jewellery through over 81 stores spread across over 61 towns in India, which are either Company managed, management agent owned, or franchised. The Company managed showrooms serve as flagship retailing stores designed to provide the best that the Tanishq stores have to offer to customers. They also influence the operations of other franchisees and bring about uniformity across the retail chain. Tanishq jewellery is also exported to Europe, the US, the Middle East and Australia. Tanishq has recorded a sales turnover of Rs. 53,400 lakhs for the financial year 2004-2005. Tanishq has stepped foot into the US retail market. The next store launch is expected to be in New Jersey 11. Market Shares In February this year, GGL raised around Rs.330 cr. through an IPO of Rs.1.70 cr. shares at Rs.195 per share to invest in its subsidiaries/ associate companies expand its manufacturing capacities and penetrate the retail market besides the development of the SEZ near Hyderabad. For FY06, it recorded 20% rise in top-line to Rs.1621 cr. but its net profit zoomed by 450% to Rs.48 cr. on the back of better operating margins. This led to an EPS of Rs.8 on equity of Rs.59 cr. considering its focus on jewellery business and retail expansion; it is estimated to report a turnover of Rs.2000 cr. and net profit of Rs.70 cr. for FY07. This will translate to an EPS of Rs.12 and at a reasonable discounting of 18 - 22 times; it should trade in the range of Rs.220-260. Investors are strongly recommended to buy and hold for at least 15-18 months Page no. 19
  • 20. Projectsformba.blogspot.com Consumer Behaviour 12. Marketing Strategies, Sales & Distribution In 1997 Gili introduced Rivaaz, a collection of ethnic Indian jewellery Gili to attract its costumers and satisfy its consumers comes up with strategies like a) Gili promise i.e. Guarantee of Authenticity of its products. b) provides with certificate of Authenticity c) ISO-9001:2000 & Best Business Practice Certificate The BBP Certification encompasses areas including Employee Safety, Satisfaction Index, Medical Avail- ability, Environmental Protection Standards, etc. d) Seasonal Advertisements: Hoardings, Brochures to Valued Customers & Occasional Ads like Valentine Specials, Raksha Bandhan, Personal Hearts, Bridal Jewellery, etc. e) Corporate gifts Collection: The Brand is very much popular in the market for its Corporate Jewellery Col- lections f) Costumer Care: Gili’s attempt to build a rapport with its end consumer is set up of Customer care service 10.00am to 9.00pm 6 days a week. Page no. 20
  • 21. Projectsformba.blogspot.com Consumer Behaviour g) Gili also comes up with special offers on top selling products h) Online shopping concept is also adopted by Gili Tanishq jewellery is sold exclusively through three types of stores namely (a) Company operated stores (b) Management Agent stores and (c) Franchised stores We have Company operated stores in Bangalore, Hosur, Chennai, Calcutta, Mumbai and New Delhi. Tanishq has not only developed a national retail chain with uniform and transparent practices and policies but also maintained consistency of retailing standards across all these stores on an ongoing basis. Tanishq has undertaken certain marketing initiatives, including launching a heritage special collection and conducting sales promotion schemes to activate the market and attract customers. These marketing activities are usually on the basis of collections, seasons and certain customer schemes. Wedding/Heritage Jewellery A wedding is usually the biggest occasion for jewellery purchase in India. Tanishq has a wide collection of jewellery including bangles, ear rings, necklaces, sets specific to culture and ethnic requirements for wedding and wedding related occasions. Tanishq has launched certain jewellery collections which take inspiration from Indian culture and is designed keeping in mind the modern Indian woman. Festivals We celebrate important festivals like Dhanteras, Akshaya Tritiya, Rakhi and Durga Pooja by offering special advertising, store decoration, promotions/schemes, and sometimes new collections too. Customer Schemes We institute certain schemes on a regular basis to build our existing customer base and to attract new customers. In addition there are certain other initiatives that we have done in our stores like (i) Category melas, where various products like neckwear, bangles, and others in various designs are put together in a store for a limited period and promoted through advertising, store facades and local activities; and (ii) Karat meter testing/jewellery servicing camps/jewellery makeover week. Gold Plus Page no. 21
  • 22. Projectsformba.blogspot.com Consumer Behaviour With a view to capture the semi urban and rural market, which caters to the informed, educated and middle class and upper middle class across the towns in India, we have recently launched Gold Plus, our brand name for pure gold jewellery products. Gold Plus was launched in September 2005, through a new retail format and business model. We are still in the pilot stage and have opened two Gold plus stores at Erode, Tamil Nadu and Ratlam, Madhya Pradesh. Quality Assurance We guarantee the purity of our gold jewellery and certify the quality of our diamonds and coloured gems. We have established ourselves as a highly ethical player in a market that was rated as having the highest incidence of underkaratage. 13. Competition Challenges & Problems Faced by the brand: Branded jewellery was unheard of in India until Gili came along. Traditionally in India, women did not wear diamond jewellery often, apart from special occasions such as marriages and festivals. Indians were only aware of 22karat jewellery in the market. The notion of 18karat jewellery was completely unheard of. By conducting an extensive research and study on whether the country was prepared for branded jewellery; Gili came to the fore with its grounding to make available jewellery that was wearable, within means and beautiful. A time when diamond was the possession of the rich and there were few diamonds retailers, Gili was unwavering in its endeavor to present affordable and elegant ornaments to all. Page no. 22
  • 23. Projectsformba.blogspot.com Consumer Behaviour The Gili formula had worked in changing the peoples perception regarding wearing Diamond jewellery only on special occasions, and it was now an everyday affair as women embraced and accepted the Gili way of adorning themselves. According to a recent survey, consumers have a strong brand recall for Gitanjalis brand names. The Gili brand is currently valued at Rs 85 crore and enjoys a 45 % market share among branded jewellery. The market for diamond jewellery has recently witnessed the entry of several players who were engaged in the cutting and polishing of diamonds for supply to jewellery manufacturers. The shrinking margins in the cutting and polishing business has forced them towards forward integration and they have launched various brands of diamond jewellery such as Kiah, Orra, Nakshatra, Asmi, Arisia and Collection ‘g’ which are available through a national network of other jewellers. Industry bodies like the World Gold Council (WGC), Diamond Trading Company (DTC) and Platinum Guild International (PGI) are also investing substantial monies in marketing gold, diamonds and platinum respectively and are actively promoting their site holders through various advertising campaigns both in the press and television. Over 3, 00,000 independent jewellers in the unorganized sector service the large jewellery market, most of these being singlestore and city specific retailers though some also have a regional presence. Tanishq’s primary competitors are the top three to five jewellers at the premium end of the jewellery market, in each city where we are present and who attract our target customers. Most of these jewellers have usually been in existence for several decades, are family run, benefit from having local knowledge and a loyal base of customers. Some of the regional players include Mehrasons Jewellers (Delhi), Tribhuvandas Bhimji Zaveri (Mumbai), B.C.Sen and P.C.Chandra (Kolkata), G.R.Thanga Maligai (Chennai) and C. Krishnaiah Page no. 23
  • 24. Projectsformba.blogspot.com Consumer Behaviour Chetty (Bangalore). We have also begun facing competition from international jewellery brands such as Damas. Other Competitors: Blue Rising, DDamas, Surat Diamonds, Asmi, Sri Jagbamba, Diya, Nakshatra, Sangini 14. Achievements & Awards Gitanjali Group is Business Super brand 2008 Was presented the award by Brand Council of India Gitanjali Group has been honoured by Brand Council of India with the “Business Super brand 2008” award in the gem and jewellery segment. A Super brand is profiled by its management, as one, which has established the finest reputation in its field and offers customers significant emotional and/or tangible advantages over its competitors, which (consciously or sub- consciously) customers want and recognize. The concept evolved in the UK in 1993, and came into India as Super brand India in December 2002. Commenting on the award, Mr. Mehul Choksi, Chairman, Gitanjali Gems, says, “Gitanjali has always stood for unparalleled quality, trust and reliability. It is indeed a great honour to receive a prestigious award like the Super brand Award. I believe that the marketing and the promotional activities of any company plays a major role in the growth of any company and this award just proves that”. The Gitanjali Group has nurtured brand values of leadership, performance, trust, care, innovation and sensitivity, and has been providing this package to its consumer communication focuses at eliciting segment, at every stage of marketing, promotions and advertising. Gitanjali brand has and continues to tap every human emotion, in effect becoming an expression of emotions, for customers. Tanishq was a trailblazing endeavor to create a national retail chain that would provide consumers with jewellery of reliable worth and high design value. Its entry changed, in more ways than one, the way the Indian jewellery market operates. With 66 exclusive outlets spread across some 50 cities and a fully integrated jewellery manufacturing facility at Hosur, in Tamil Nadu, Tanishq has emerged as one of Indias biggest retailers. Tanishq has established itself as an ethical player in a market where unscrupulous retailers have often betrayed consumer trust. The introduction of Karat meters - instruments that can be easily used by consumers to measure the purity of gold in a non-destructive manner - at its outlets is a Page no. 24
  • 25. Projectsformba.blogspot.com Consumer Behaviour key innovation that has developed tremendous equity for the brand. Another Tanishq novelty, one on which the brands growth strategy is premised, is in the matter of differentiated designs, be they contemporary or traditional, Indian or international. Modern retail values and principles in the selling of branded jewellery in India are almost completely the handiwork of Tanishq. The brand has broken fresh ground in retailing by creating exclusive outlets with hitherto unknown in-store ambience and hospitality touchstones. It has launched new collections at a quicker rate than its competitors, and conducted marketing promotions and fashion shows to enhance the shopping experience of consumers. Although the purchase of branded jewellery is still a new experience for a whole lot of Indians, the Tanishq brand enjoys increasing levels of consumer loyalty. Over the past three years, it has been one of the best performers in the branded jewellery sector. In 2002, about one million people shopped at Tanishq stores all over the country. A highlight of the brands success is that, while the jewellery market growth has declined during the past two years, Tanishq has recorded an annual growth of approximately 40%. Besides catering to Indian consumers, Tanishq has successfully entered key export markets such as the US, the UK, the Middle East, Singapore and Australia. This is testimony to the brands ability to craft products that meet the requirements of varied cultures and sensibilities. The brand Tanishq, like the Tata name, has established itself as an ethical brand, earning the respect and affection of its consumers Tanishq wins 4 awards at Retail Jeweller India Award 2008 Is considered the strongest in marketing and promotions The Retail Jeweller India Award 2008 has honoured Tanishq, with awards in four categories – ‘Retail Chain of the Year’, ‘360 degrees Marketing Campaign of the Year’, ‘TV Campaign of the Year’ and ‘Gold Vivaha Jewellery’. Tanishq won the 360 degrees Marketing Campaign of the year award for its Jodhaa Akbar Collection. Also, having a retail presence across 112 standalone boutiques across 75 cities in India, delivered it the award for Retail Chain of the Year. Its product portfolio promoting design, gold jewellery backed by the value of TRUST, won it the ‘Gold Vivaha Jewellery’ award and its television commercial for diamonds won it the ‘TV Campaign of the Year’. The Retail Jeweller India Award is considered the helm of judging the best in the Indian gem and jewellery industry, in terms of branding, marketing, products, design etc. This year, the competing companies included TBZ, CKC-Bangalore, Prince Jewellery, Joy Alukkas, GRT-Chennai, Notandas, Page no. 25
  • 26. Projectsformba.blogspot.com Consumer Behaviour Anmol, Mahesh Notandass, Minawala, Orra, Nirvana, Gili, Damas, P N Gadgil Hazoorilal, Punjab Jewellers and Punjabi Saraf, along with jewellers from Bhopal, Guwahati, Calcutta, Surat, Amristar, Pune etc. Participation at the awards included more than 300,000 retailers, 10,000 jewellery manufacturers/brand owners and leading 10 design schools of India. 15. Which Brand according to me is better & why? Gili, it offers a wide range of 18-carat gold and diamond jewellery that has been designed to appeal to the contemporary Indian women. It reflects the Indian woman 16. If I was in position to advice the company to increase the sales, how would I do it? Gili should advertise its products in a rigorous way so as to bring it to end user’s notice. Gili is specialized only in Diamond Pendants; hence it should come up with a new specialty range to attract more and more costumers. Gili also need to expand in other cities of India where it does not exist now, this will lead to an opening of new market for the brand Gili’s Collection price range is more expensive than its competitors, which needs proper cost analysis to compete well. 17. Source of Information: Gili representatives (Ms. Ramil, Mr. Rajesh & Ms. Paramjeet) Tanishq representatives (Mr. Anirban Sen, Mr. Vikas Hedge & Ms. Tanuja) Page no. 26
  • 27. Projectsformba.blogspot.com Consumer Behaviour Gili References: Gili stores, outlets, Gili Website, Internet. Tanishq References: Tanishq stores, outlets, Tanishq Website, Internet. 18. Consumer Poll 1. Which brand would you prefer? Tanishq Gili Other 2. Which Brand do you find most expansive? Tanishq Gili 3. How frequently do you buy Jewellery? Monthly once in 3 months once in six months 4. How is the collection range of Gili? Excellent Good Poor 5. How is the collection range of Tanishq? Excellent Good Poor 6. How do you find the price of the products? Very High High Normal 7. How is the Diamond Jewellery Collection of Gili? Excellent Good Poor 8. How is the Diamond Jewellery Collection of Tanishq? Excellent Good Poor 9. Are you satisfied with the services provided to you by Gili? Yes No Page no. 27
  • 28. Projectsformba.blogspot.com Consumer Behaviour 10.Are you satisfied with the services provided to you by Tanishq? Yes No 11. Do you think there should be more designs introduce frequently? Yes No Depends 12.Do you think Gili is upto the marl with their promises? Yes No 13.Do you think Tanishq is upto the marl with their promises? Yes No 14.Will you recommend Gili Products to other, as you are satisfied? Yes No 15.Will you recommend Tanishq Products to other, as you are satisfied? Yes No 16.Are you Brand Loyal? Yes No Page no. 28
  • 29. Projectsformba.blogspot.com Consumer Behaviour An outstanding Today & an Incredible Tomorrow Thank you, Page no. 29