Tanishq

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Tanishq

  1. 1. Group 1PragathiSubhaJaideepPreetiGayatriAfsal
  2. 2. Contents• Introduction• Marketing mix• Understanding buying behaviour of customers• Customer services offered• Segmentation and Positioning• The turnaround story• SWOT Analysis
  3. 3. 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
  4. 4. productpromotion Marketing place mix price
  5. 5. ProductProduct 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.
  6. 6. 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
  7. 7. 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
  8. 8. 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
  9. 9. Pricing• Products starting from Rs 600 …• Valentines day collections from Rs 2000 …• Attractive offers –up to 25% off• All day Diamonds from Rs 1960 …
  10. 10. Promotion Mix• Advertising : Through print media, social media and television
  11. 11. Emotional appeal
  12. 12. Celebrity Endorsements
  13. 13. Collaboration Promotion Corporate 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
  14. 14. Publicity• Sponsorships: Bollywood Tie-ups
  15. 15. Miss India Crowns and ‘Colors of Royalty’ Range
  16. 16. Tanishq Swarna Sangeetham
  17. 17. Public Relations• Customer satisfaction measurement programme with CSMM• Anuttara – Customer Loyalty Programme
  18. 18. SalesPromotion
  19. 19. 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
  20. 20. First jewelry retailer to focus on experience factor…• Customization• Exchange policy• Purity checks: Karatmeter• Anuttara• ”
  21. 21. • Golden Harvest Savings • Swarna nidhi scheme scheme
  22. 22. Concept stores –“Revitalizer of Tradition”
  23. 23. Segmentation & Postioning• Niche Marketing• Positioned – international brand for Indian elite• Since 1997: Mass marketingGeographical segmentation Satisfy tastes of all regions Ethnic designs Transpose designs-Bengali in Delhi ….• Psychographic segmentation Lifestyle – Working women
  24. 24. 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
  25. 25. • 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
  26. 26. Trading up and down Goldplus Zoya• Low end customers • High end customers• Plain gold jewelry + very • Exquisite diamond jewelry less studded jewelry : • 2 boutiques Diamantine (first time in India)• Presence in 32 towns spread across 5 states
  27. 27. Competitors for Tanishq• Gitanjali group• Traditional jewellers
  28. 28. 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
  29. 29. • 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
  30. 30. SWOT Analysis Strengths• 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
  31. 31. Weakness • Negative perception – Brand was only for the rich • Strong labour union Opportunities• Expanding to global markets• 99% of potential Indian gold market
  32. 32. Threats• Competition from traditional jewellers• Increasing gold price affecting the low end customers
  33. 33. Thank You!

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