When we started out we didn't think that we could achieve this, but now being
jewellers to the nation doesn't seem so distant.
Presented by:
Bikram Prajapati
Introduction
Tanishq is a prominent and fastest growing jewellery brand of
India.
The company was established in July 1984 as a one of the worlds
largest manufacture of watch movements.
Later on in 1995, its rename from titan watches ltd to titan
industries ltd and it is manufacture of fashion accessories based
on Bangalore managing by titan
"Tanishq" means "embodiment of love". "Tan" in Sanskrit means to
extend or to spread. Hence "to extend love" or "to spread love" are
other meanings attributed to the name Tanishq.
Tanishq today is India's most aspirational fine jewelry brand with
91 stores in 64 cities, with an exquisite range of goldjewelry
studded withdiamonds orcolored gems anda wide
rangeofequallyspectacularjewelryin22Ktpuregold
Mission:
We will do this through apioneeringspirit and acaring, valuedriven culturethat fostersinnovation, drives performanceand
ensures thehighest global standardsin everything we do
Driven by innovation and creativity, focus on smarter
approaches and newer technologies
Jewellery is one of the last great commodity frontier in india;
it has remained so because this market is very fragmented ,
very unorganized. Tanishq has successfully taken on the
challenging of transforming this frontier into reliable consumer
space by bringing to it all the virtues and benefits that
branding offers
- Harish Bhat, CEO, Tanishq.
Gems and jewellary industry in
India
The industry is growing faster and the concept of wearing jewellary are changing
India jewellary market is still large extent unorganized with a few recognized
internationally brand.
Most of market share are covering by traditionally jewellarys tore: family jewellary
shop
The market has been increased through 20 30% during 1997 -2000.
It has estimated that 2.50,000 retailers with no national or internnationl brand name.
High opportunity for ethical player and can able to capture substainstial market share
By 2001 Tanishq was largest overseas chain store in us with 1200 outlets by
contributing 10%mof company turnover
The cumulative foreign direct investment (FDI) inflows in diamond and gold ornaments
in the period April 2000-September 2014 were US$ 453.41 million
India's gems and jewellery industry had a market size of Rs 251,000 crore (US$ 40.58
billion) in 2013
Company positioning
Tanishq wanted to be different by offering jewellary in the 18carat gold range with contemporary European design.
The design are heavily borrowed from European market, that is not
acceptable in India local market.
The proposition of tanishq is far ahead then Indian consumer
perception.
They wanted to be different without understanding the current
market situation and consumer buying behavior.
At that time the concept of branded jewellary did not exist
They try to positioning as adornment ,fashionable, pleasure
personality , fun, luxury, new design rather than investment, which
is not accepted early in Indian market
They offered same line of jewellary as compare to local jewellary
retail store, so people are not more experiencing to tanishq
where did company gone wrong.
Once a time , tanishq was losing its proposition and its because of
lagging in strategy in product proposition and retailing company
makes losses in 1995 1998.
India consumers preference for buying jewellary only from family
jewellarys.
Jewellary are made often by order and it can be replaced according
to market rates.
The value propositioning are not meet in local market as in early
there is no jewellary made targeted to local people.
Design are just borrowed which is success in western and but tanishq
not able to vary the product line up according to market.
According to the positioning the distribution channel are not well
selected, they tried to sell products through multiband stores
Brand repositioning
As through brand audit they found out that where the problem
is.
After figuring they repositioning the brand, changing the
perception of jewellary from an asset to a fashion accessory was
extremely difficult to bring about.
They make adjustment in product portfolio, in quality, in retail
strategy, in pricing strategy in order to establish jewlleary as
fashionable wearing.
They repositioning their brand strategy that is suited to local
culture.
They changed brand positioning from that westernized design to
Indian one and focused on ethnic ones and traditional
ornaments.
excellence for others to follow
Brand repositioning
Positioning brand differently in different
market and design are changed to update
their brand equity in every quarter.
Positioning as a freshness, luxury, trust,
purity, love, custom made jewlellary with
having standard price in all around the
country.
It has created a revolution in the Indian
jewellery trade and in jewellery buying
behavior, and continues to set new
parameters of excellence for others to follow.
They more focused on quality and design
rather than price
Targeting:
Tanishq product range are targeted from middle class to
premium class.
Most of the product are targeted to working women, marriage
women
Currently they are targeting to teenagers too through new MIA
product
Targeted to different ethic group.
Targeted to various occasion, festival and culture like
wedding , birthday, durga puja in western bangal, Diwali in
north India.
Segmentation:
The Indian market was witnessing an accelerated shift from
viewingjewelleryasaninvestmenttoregardingitas
aestheticallyappealingornaments.Thefocushadshifted from content
to design
Theyoungergenerationwaslookingattrendy,
contemporaryjewelleryandclearlyavoiding heavy traditional jewellery
The Indian consumer was willing to experiment with new designs.
The jewlleary is for showing the personality, and its an adornment.
Tanishq has been able to change the concept of having jewellary.
Demographic segmentation:
The most of the jewellary are targeted to women: especially
married women
The collection of variety jewellary targeted to variety age group
They targeted to different ethnic group.
Tanishq targets the mid-premium segment in retail of jewellery
business
Psychographic
Changing the perception from western design to local made design,
customization
Who wants to show their culture, lifestyle.
Those who wants to gifted the quality superior product
Those who believe ornament as fashion accessories
Those who wants to wear luxury goods.
Behavior:
Who likes to attend more party , festival, outdoor
lover.
Vibrant extraordinary, contemporary as well as
traditional lover through customization according
to order.
Geographic:
Generally it is available in most of the urban cities.
Have their own retail store in 37 cities
Competitor:
Defining points of parity and points of difference.
Points of parity:
Offering same style of traditional jewellary.
Custom made jewlleary.
Stated grade of gold.
Points of difference:
Tanshiq diamonds are come with the certificate of authenticity, stating the cut, carat, color and clarity of stone,
to enable to know what exactly customer are paying for.
Huge collection of western design.
Customization according to place, ethnic group
In house designer who design the jewelleary based on trends.
Introducing karat meters in its retail to define superior quality.
Have own branded retail stores.
Standardizing in pricing
In house manufacture
100% return guaranteed
Brand element
Name: Tanishq ( means spreading love)
Logo and symbol:
Slogan : 'Pure Jewellery. Pure Joy',
Marketing mix:
Depending upon target market.
Determine what the target consumer desires.
Assess whether have any advantages over
competition in delivering the desired service.
Choosingthepositionthatismostvaluedbythe
consumer
When tanshiq launched the jewellary Indian
jewellary market are more scatter and
unorganized.
There are more untapped area and by varying
various marketing mix, tanishq able to capture
those market and become one of the leading
jewellary company.
product
Tanishq diamonds: Tanishq diamonds come with a certificate of
authenticity, stating the caratage, colour and clarity of the stone, to
enable you to know exactly what you are paying for
Tanshiq gold: Mangal sutra,thalis, fashionable earing and so much item
made b gold are major product
Tanshiq platinium: Pure Platinum's purity endows it with a brilliant
white luster. And it is 95 % pure
Offered 18 , 22 and 24 carat gold
Tanishq collections : The diamond collection The wedding collection
The zoya collection The fashion earring collection The kundan and polki
collection The colors of Royalty collection The moham collection The
Aria collection
Price:
Tanishq being a brand name of TATA, maintain a
standard price for all of their products.
They eliminate variation in pricing in their different
location.
They tied up with exchange rate and varies according to
it.
It result often lower price than competitor for high
quality product.
The entry level price is Rs 600 and offered wide range of
pricing
Place:
Tanshiq decided to change their retail strategy in India
Titan also decided to do away with the shop-in-shop formats and
started retailing
itsjewellerythroughexclusiveTanishqoutletsfrom1998
By July 2001 it had 47 tanshiq boutiques in 37 cities
The turnover is high in the emerging cities and small cities.
Have own ultra modern and large scale manufacturing thus in house
manufacturing able tanshiq to make design becomes more ethnic
Titan also decided to transpose designs by stocking Bengali designs in
Delhi, Keralite designs in Tamil Nadu and typical designs from Tamil
Nadu in Bombay in order to appeal to a varietyofpeople.
Promotion:
In order to promote the product they often does:
TV advertisement
Print advertisement
Bollywood ties up: paheli and jodha akbhar
Celebrity endorsement:
Amitabh and Jaya Bachchan have been roped in as brand
ambassadors for Tanishq, Tatas jewellery brand .
New Brand Ambassador for TANISHQ is Kangana Raut.
Miss earth, Miss universal and miss world are most
precious tanshiq crown specially made for those
events
100% return policy in tanshiq jewelry
Promotion strategy done in two segment: internationally or
specially target to each segment : promotional cost for
2000-01 is 100 million
Develop a long term plan with media
The communication focuses on design and quality rather
than pricing
gold gift scheme when you want to say thank u say it in
gold
Various discount offer in selected product.
More focused on tailored made jewellary
Anuttara program to design loyal customer
Brand audit
Thecritical success factors in the business were quality, fashionable design, and good aftersalesservice.Titanalsoobservedthatthechanging lifestyles demandedlighter andtrendier jewellery.
Using exclusive distribution channel and they are investing huge in promotional activities, hence they
using pull strategy
Tanshiq launched a direct consumer contact program and conducted surveys to monitor store walks ins
and footfalls and percentage of conversion rate.
Customer satisfaction measurement management gives an information about current position of brand
in the market.
They done survey in quarterly bases and update their design according to result.
Customer satisfaction and repeated purchasing is analyzed and setup the benchmarking.
The quality of jewellery is measured by modern technology called karat meters.
Primary research are done and competitor action are closely analyzed
Surveying on 2001 it shoes 50% of tanishq consumer are loyal and they break up long term relationship
with traditional jewlellary
Future prospects:
There is so much untapped jewllery market in India and there are huge
unorganized store.
Tanshiq share was not even in 1% and but revenue generated are huge. They are
targeting 2% growth in next few years.
A consumer oriented highly ethical corporate player will have great opportunity
in market and tanshiq try to capture those market segment through inducting
quality control mechanism.
Tanshiq trying to establish retail management system and information
management system so that they can get accurate data through customer and
their own store.
They plan to set up intranet; that contain huge collection of design from
customer can select the existing design or they can able to order new design
They setting up new channel of communication such that they can place through
internets. The ordered jewellery can transfer through nearer store
Planning to tied up with countrywide finance o provide credit in specific outlets.
Conclusion
Tanishq has built itself a reputation of bringing innovative
designsthatsuittheneedsof"theever-changingnever-changing" Indian woman.
At Tanishq its not just the products, its the experience that matters.
The contemporary styling has beenbrought tolife with sensuous
curves,balance,rhythmandsymmetryofclassicIndian motifs in an unconventional synthesis.
These beautiful and vibrant gemstones in different shapes, sizes and colors are
prinkedamongstdiamonds.
In order to growth in growing market: Tanshiq changed their product propositioning and retailing
strategy
Offered high quality, latest design that relating with luxury and love.
Established own corporate retails to give an amazing experience
Tanshiq able to change of perception of consumer as from jewellery is investment to fashion
aceessory.
Hence because of the quality conrrol mechanism, standardizing pricing, various option available
and improving various strategy , today Tanshiq able to become one of the leading branded
jewellery company
