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Tanishq
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- 2. Contents • Introduction • Marketing mix • Understanding buying behaviour of customers • Customer services offered • Segmentation and Positioning • The turnaround story • SWOT Analysis
- 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. product promotion Marketing place mix price
- 5. Product Product variety • Plaingold 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. 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. Design • Frequent newand 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
- 9. Place • Crafted asone 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
- 10. Pricing • Products starting from Rs 600 … • Valentines day collections from Rs 2000 … • Attractive offers –up to 25% off • All day Diamonds from Rs 1960 …
- 11. Promotion Mix • Advertising: Through print media, social media and television
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- 14. 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
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- 16. Miss India Crownsand ‘Colors of Royalty’ Range
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- 18. Public Relations • Customersatisfaction measurement programme with CSMM • Anuttara – Customer Loyalty Programme
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- 20. Understanding buying behaviourof 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
- 21. First jewelry retailerto focus on experience factor… • Customization • Exchange policy • Purity checks: Karatmeter • Anuttara • ”
- 22. • Golden HarvestSavings • Swarna nidhi scheme scheme
- 23. Concept stores – “Revitalizerof Tradition”
- 24. 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
- 25. REPOSITIONING • Same productand 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
- 26. • 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
- 27. Trading up anddown 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
- 28. Competitors for Tanishq •Gitanjali group • Traditional jewellers
- 29. 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
- 30. • 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
- 31. 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
- 32. Weakness • Negativeperception – Brand was only for the rich • Strong labour union Opportunities • Expanding to global markets • 99% of potential Indian gold market
- 33. Threats • Competition fromtraditional jewellers • Increasing gold price affecting the low end customers
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