Tanishq is a jewelry brand owned by Titan Industries, a Tata Group company. It was launched in 1994 to capture the Indian women's jewelry market which was dominated by unorganized local jewelers. Initially, Tanishq faced challenges due to consumers' preference for 22-karat gold and perception of jewelry as investment over ornament. Through market research, Tanishq repositioned itself by offering 22-karat gold, promoting purity using a karat meter, and changing its designs to appeal to local tastes. It also launched sub-brands like GoldPlus to target different segments. Today Tanishq is a leading player with over 165 stores pan-India pursuing opportunities for growth in India and other Asian markets.
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The 134-year-old Tata Group with 95 operating companies (31 of them publicly traded) and 230,000 employees, it is India's largest private-sector employer, its biggest taxpayer, and its greatest foreign-exchange earner.
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Should Nokia’s growth strategy be to focus on the developed markets, emerging markets or both?
Case Analysis
Handset manufacturer worldwide market share of 38% in 2009
Market leader in emerging markets like India(60%) and China(40%)
Financial performance pre-2008 was exceptional
Known for innovation
Offers products at all price points
Post-2008 started losing ground in developed markets
European market revenue declined by 15% in 2009
Exited the Japanese market after 20 years of operations
Nokia was fifth most valuable brand globally in 2000
Analysis of Emerging Market
Employed the cost leadership strategy: Purchasing power low in emerging markets hence Nokia provided cost effective products successfully.
First time purchasers: Only 20% of the emerging market were not first time purchasers
Services as the key selling point: People of emerging markets wanted value added services bundled with the phone
Analysis of Developed markets
Consumers not very price sensitive
Delivering innovative products more important
57% of the market goes for a second phone, most of the time for an upgrade
Emergence of i-phone, considered as replacement for normal handsets with users looking for upgradation
Growing competition from companies like Samsung, LG, Motorola and Sony Ericson was also making things worse for Nokia.
New Operating System – e.g. – Emergence of OSs like Google’s Android and Microsoft’s Windows mobile further bothered Nokia.
Inability to understand demand – Nokia failed to understand growing demand for touch phones
Why focus on Emerging Markets?
As Nokia has already gained the following benefits by being the first mover, it should strive hard to maintain it’s market share in developing economies. Advantages it has –
Earlier entry, early start of the learning curve. Its crucial and experience is tough to imitate.
Nokia can develop enhanced reputation by being pioneer and using its already established brand image
Absolute cost advantage can be gained by early commitments to supplies of materials and distribution channels….
Recommendations- Emerging Market
Nokia should concentrate on Improved as well as Basic phones as the market is still evolving
Tie up with Telecom players and bring dual sim phones to increase the switching cost
It should follow innovations in developed countries and adapt them to emerging markets in order to stand against competition.
One general strategy should be to outsource the services part as it is not Nokia’s competency and customers are giving more regard to services (Exhibit 6)
Instead of charging customers for Life tools, revenues should be earned from advertisers.
Case Analysis |Altius Golf and the Fighter Brand|Anahit Babayan
Questions covered.
1. If Altius implements the Elevate strategy what are the risks to the brand and how can they be managed?
2. What sales result would you expect for each item in the line if Elevate is introduced?
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The 134-year-old Tata Group with 95 operating companies (31 of them publicly traded) and 230,000 employees, it is India's largest private-sector employer, its biggest taxpayer, and its greatest foreign-exchange earner.
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As part of Strategy execution, this presentation on was on how McKinsey & Company flourished throughout the years by Managing Knowledge and Learning diligently.
emerging nokia - should they focus on developed or emerging marketsSaurabh Arora
Should Nokia’s growth strategy be to focus on the developed markets, emerging markets or both?
Case Analysis
Handset manufacturer worldwide market share of 38% in 2009
Market leader in emerging markets like India(60%) and China(40%)
Financial performance pre-2008 was exceptional
Known for innovation
Offers products at all price points
Post-2008 started losing ground in developed markets
European market revenue declined by 15% in 2009
Exited the Japanese market after 20 years of operations
Nokia was fifth most valuable brand globally in 2000
Analysis of Emerging Market
Employed the cost leadership strategy: Purchasing power low in emerging markets hence Nokia provided cost effective products successfully.
First time purchasers: Only 20% of the emerging market were not first time purchasers
Services as the key selling point: People of emerging markets wanted value added services bundled with the phone
Analysis of Developed markets
Consumers not very price sensitive
Delivering innovative products more important
57% of the market goes for a second phone, most of the time for an upgrade
Emergence of i-phone, considered as replacement for normal handsets with users looking for upgradation
Growing competition from companies like Samsung, LG, Motorola and Sony Ericson was also making things worse for Nokia.
New Operating System – e.g. – Emergence of OSs like Google’s Android and Microsoft’s Windows mobile further bothered Nokia.
Inability to understand demand – Nokia failed to understand growing demand for touch phones
Why focus on Emerging Markets?
As Nokia has already gained the following benefits by being the first mover, it should strive hard to maintain it’s market share in developing economies. Advantages it has –
Earlier entry, early start of the learning curve. Its crucial and experience is tough to imitate.
Nokia can develop enhanced reputation by being pioneer and using its already established brand image
Absolute cost advantage can be gained by early commitments to supplies of materials and distribution channels….
Recommendations- Emerging Market
Nokia should concentrate on Improved as well as Basic phones as the market is still evolving
Tie up with Telecom players and bring dual sim phones to increase the switching cost
It should follow innovations in developed countries and adapt them to emerging markets in order to stand against competition.
One general strategy should be to outsource the services part as it is not Nokia’s competency and customers are giving more regard to services (Exhibit 6)
Instead of charging customers for Life tools, revenues should be earned from advertisers.
Case Analysis |Altius Golf and the Fighter Brand|Anahit Babayan
Questions covered.
1. If Altius implements the Elevate strategy what are the risks to the brand and how can they be managed?
2. What sales result would you expect for each item in the line if Elevate is introduced?
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How Tanishq jwellers captured the market.pptxvedegaf851
The term circular flow of income or circular flow
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introduction,Vision and mission statement CEO of Tanishq Logo and their punch line Segmentation Positioning SWOT Analysis Ansoff’s Model 7ps PLC Questionnare
Vikalpla Case Study - Tata GoldPlus: The Success Story of the ‘Nano’ of the J...Tushar G
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Authors - Anu Singh Lather and Puja Khatri.
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For more information, visit-www.vavaclasses.com
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Ethnobotany and Ethnopharmacology:
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Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
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Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
3. Started in JULY,1994.
TANISHQ - TATA Group - Subsidiary of Titan Industries Ltd collaboration with TIDCO.
Titan promoted jointly by Questar Investments Limited Incorporated in July 1984 in Chennai,
was started in technical collaboration with France Ebauches with a 25% share of the total
domestic market. Renamed as Titan Industries LTD in 1995
Tanishq - headquarters in Banglore & factory Located in Hosur (Tamil Nadu) is in 12500 Sq
Meter amounting to Rs. 400 M. Presence in 83 Cities
6 brands, Tanishq, Gold +, and ZOYA, MIA , Diva & Aria
TANISHQ (TA – TATA and NISHQ gold coin or necklace in Sanskrit) name was coined by
Xerxes Desai MD of TITAN.
Indian Gold Market - unorganized with few players like TBZ and Mehrason’s.
Indian Jewellery market was valued at Rs 400 B with around 3.5 lakh players.
Bhaskar Bhat (MD) C K Venkataraman
4. Govt Control act of 1962
For the first 3 years Tanishq ran into loss which was admitted by
Jacob Kurain – COO "Tanishq, as a concept, was far too ahead of its times.“
First profit in the year 1999
Certified under ISO 9001:2008 Quality Management System Standards & Current version of
Environment Management System Standard is ISO 14001:2004.
Pioneered the concept of branded jewellery and ornaments in India.
In Nov 2012 150th
Showroom was opened & currently Tanishq has 165+ Stores in India.
Golden Harvest
18-carat gold range, with designs borrowed heavily from contemporary European brands.
5. Gold Plus caters to Smaller towns and Rural markets
The Tanishq portfolio comprises of a wide range of jewellery,
including 18- carat studded products, 22- carat plain-gold products, silverware and coins
Launch of Concept Stores worth costing of 10Cr in kolkata to Harmonize the tradition of
past with modernmity of the present.
Gold Gift Scheme- Say thanks in Gold. – Coins were given to maruti to be distributed to
car owners.
First boutique in Chennai with a limited inventory
Karatometer was imported from Germany with the cost of 10L rupees.
Annutara
CSMM – Customer Satisfaction Measurement Management
which tracked the customers feedback on quarterly basis
Uses shop in shop concept which reduces distribution cost.
Standard Gold Price across Tanishq Stores
Zoya creations - world-class quality crafted in India and abroad. Stores in 2 cities, Delhi
and Mumbai in India.
6. Profit margins on diamond jewellery is estimated to be about 2.5 times higher than
that of gold.
Tanishq’s jewellery sales touched Rs 8,108 crore, of which diamond jewellery
accounted for 30% in 2013-14 in India
Competitors
CARBON – in early 1991 banglore based pealkok jewelers was incorporated and then
they later introduced a brand as Carbon in 1996
GILI- introduced in 1999. Lifestyle and Departmental , College campus through
banners
Nakshatra
Ddamas
TBZ
Relinace Jewels
Kalyan Jewellers
Joyalukkas
7. A precious metal.
Part of Indian culture and an inseparable part of
our belief system and it is passed down through generations
Purchased gold jewellery for the purpose of
investment and it helps them at the time of emergency
Tanishq has focus on “Jewelry for adornment”
in the major cities and towns
Perception of Jewelry - As an adornment / Investment
8. Most of the consumers are female as jewellery is mainly preferred and worn by women
consumers.
Status symbol - Serves many functions and female wearing it, has several implications.
At a minimum, an Indian bride contained at least two bangles, a gold necklace, earrings, a
ring and a nose pin
Purchase Occasions
10. Consumer Research
Purchase Triggers -- When the price of gold fell or was discounted on the onset
of festivals
Birthdays , anniversaries and weddings or any religious occasions
Primary consideration :- Quality (22-Karat)
A trusted individual with good reputation Jeweler considered who can provide purity with
look, finish, color and craftsman ship
Pride and admiration
For husband dead investment, same time wives wearing
jewelry as it was their status
Younger Vs Older research
College girls and younger crowds attracts towards
light weight, delicate western styles, simple and elegant
Crowd awareness about Tanishq 18 and 22-karat
Offerings and purity
Older visitors felt it was very costly and their
was no bargaining – Standard Pricing
11. Challenges Faced
Comes with product “Adornment the body and mind”
Their studded jewelry was distinctly western in style and design.
The gold used, to make kind of jewelry was based on 18-karat gold because 22-karat
gold was too soft to hold gemstone
The gold market was based on 22-karat gold and anything lower considered junk.
Consumers were stuck on 22-karat jewelry as they did not perceive 18-karat jewelry
suited for weddings and festivals
Selling plain gold jewelry moved Tanishq from consumer because markup for gold
15% to 25 %
Local jeweler markup was 5% to 15%, because they were providing under-karatge
jewelry.
12. Piloted an offering
22-karat plain gold jewelry, with about 400 designs,
Additional 1000 designs in 18-karat diamond studded jewelry.
Launched multimedia campaign
Television and press focused on the most traditional designs
Inaugural offer to attempt increase walk-ins and purchase
Pioneer the karat meter
Tanishq was based primarily on quality and purity,
Karat meter a machine that, in three minute measured the karatage of gold
The press campaign
Confronted the under-karatage problem in using bold stark images,
subsequent ads reinforced the quality of tanishq
Invoking the TATA tradition trust.
Walk-in numbers shot up
Finally established a beachhead in the 22-karat gold jewelry market and hit in
the 100 corers mark as brand.
Overcoming Tanishq Challenges
13.
Product Mix or Marketing Mix Concept – 4Ps
What is product Mix or Marketing Mix Concept – 4Ps?
Marketing is simply defined as ‘putting the right product in the right place, at
the right price, at the right time.’
MARKETING mix is an excellent way to help ensure that ‘putting the right
product in the right place,…’
Executed through the 4 P’s of marketing: Price, Product, Promotion, and Place
Below steps help to define marketing mix:
• Identify your target market.
• Determine what the target consumer desires.
• Assess whether you have any advantages over your competition in delivering the
desired service.
• Choose the position that is most valued by the consumer.
14. Customer Oriented 4 C’s
Product to Customer Solution
Price to Customer Cost
Promotion to Customer Communication
Place to Customer Convenience
15. Value proposition - Cultivate trust by educating customers about the
unethical practices in the business
Retailing
Designs became more ethnic
Gold jewelry was bought for value and not design
Increasing penetration in the domestic markets
Going abroad in order to diversify its revenue portfolio
Change the perception of jewellery as a high-priced purchase.
Emphasis had to be on design
In-house design team and also outsourced designs from freelance
designers.
Based its gold prices on international exchange prices
Tied up with Countrywide Finance for providing pre-approved credit
line to the customers at selective outlets.
Strategies
16.
PROMOTION, ADVERTISING & PUBLIC RELATION
Promotion
Free gold coin offer
Get Gold free with Diamonds
Pre-booking scheme
Advertising
Brand Ambassador of the Product
T V Advertisement
Print advertisement
Public Relation
Bollywood tie-up
17.
Current Scenario
Change of Government Policy in Dec 2015
JV Swiss Luxury jewelry & watch company
Will open 5 outlets
Plans to open up 33 new stores
Opportunity for business to grow as gold price has reduced
18. Market Segmentation
Niche Marketing – After its inception in 1995 focus on exports, Tanishq’s designs had
been conceptualized for the Western markets and were introduced in India without any
alterations.
Tanishq positioned itself as an international brand for the Indian elite.
The brand was targeted at a niche market (However they later on started targeting the
mass marketing since 1997).
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.
19. Market Segmentation Contd…
Geographical Segmentation – Titan realized that, given the diverse nature of
Indian ethnicity.
It would have to satisfy the tastes of all regions. So, the designs became more
ethnic.
Titan also decided to transpose designs by stocking
Bengali designs in Delhi
Keralite designs in Tamil Nadu
Typical designs from Tamil Nadu in Bombay in order to appeal to a
variety of people.
21. Brand Repositioning
Started with focus on more Western consumer resulting in “Nice, but not
for me” reaction from Indian women.
Tanishq consumer: 1998 Research
•Purchase triggers
•Quality (22-karat).
•Trust
•Age group of typical consumer.
Tanishq consumer: 2000-2001Research
•Consumers still had immense faith in their family jeweler
•Dual target group: Traditional mother and modern daughter
23. Based on this survey many new collections were launched.
•Daytimes: Reposition diamonds as affordable, casual, young &
contemporary
•Colors: Colored jewelry to correct the perception that Tanishq had only
modern designs
•Aarka: High fashion 22-karat gold collection aimed to position Tanishq’s
design and image leadership. It was a JV with Sabyasachi Mukherjee.
•Aamra: Traditional studded jewelry collection.
•Wedding and festival collection also launched.
Sales exceeded the ambitious target of Rs. 550 crore and closed at Rs. 570 crore.
24. Introduction of GoldPlus in 2005
•Started with an aim to cater to semi-urban and rural market.
•Ethnic design plain gold jewelry at competitive price.
•Test market at Erode and Ratlam.
•Using Tata name aggressively in promotions and communications.
•Positioning GoldPlus in such a way that it does not confuse the consumers and does
not result in cannibalization.
25. STRENGTHS
Strong backing of the Titan Industries of the Tata Group and TN Govt.
Standard gold pricing
Innovative & Modern Styles, Award winning designs
Competitive prices
Caters to all market segments with sub-brands
Retail Chain in 83 Indian cities
Excellent & outstanding advertisement strategy
Information Technology
Credit Line
26. WEAKNESS
Negative perception – Brand was only for the rich “Not For Me”
Gold Purchase Rituals
Gold Perceptive – No Credible for value Estimation, not a perfect Hedge
Limited Global presence as compared to other International brands : Mont Blac,De
Beers
Tough Competition from other Jewelry brands - means limited scope of growth.
27. Globalization
98-99% of potential Indian gold market
Cross Branding the market to own a larger share
Acquisitions of smaller business to increase brand position and reach
Tie-ups with Corporates and Business Partners
PLATINUM SALES RISING
Jewelries for Men
Diversification from Jewelry to other Gold Products like writing pens, car interiors
& accessories, Aircraft interiors, Eyewear & cutlery, Dentistry - TAAIA
Highly Ethical Corporate Player.
Stats says that 1 Billion new customers by 2020
EAST ASIA – Growing Market
OPPORTUNITIES
28. Competition from traditional jewelers
Factors Affecting Gold Market Globally (PESTLE)
Increasing gold price affecting the low end customers
Govt. Regulations, Policies ,Taxes.
Gold Significance(Importance of Gold) .
Trends Changing quickly hence innovations and R&D are investments
THREATS
32. Thank You !
Reference Sources
Harvard Business School Case Study - Das Narayandas, Kerry Herman
Wikipedia : https://en.wikipedia.org/wiki/Tanishq
Gold.org : http://www.gold.org/jewellery/india-market
http://www.gold.org/jewellery/about-gold-jewellery
American Bullion : https://www.americanbullion.com/