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Tanishq: Positioning To Capture The Indian Woman'S Heart
Tanishq: Positioning To Capture The Indian Woman'S Heart
Tanishq: Positioning To Capture The Indian Woman'S Heart
INDIAN
WOMANS HEART
BMITTED BY
SU
Y.SAI SHANKAR
TPS-B
18-101
Summary
India is the largest consumer of gold in the world to be followed by China
and Japan. India is emerging as world's largest trading centre of this
commodity with a target of US$ 16 bn. set for 2010.
Placed against targets to achieve 65 percent of the international market
by 2010, Indias gem and jewellery industry has registered an impressive
21.33 percent growth in exports
India dominates the worlds cut and polished diamonds (CPD) market. In
value terms, the country accounts for approximately 55 percent of global
polished diamond market and nearly 9 percent of the jewellery market.
According to GJEPC's provisional estimate, cut and polished diamonds
registered 19.06 percent growth in exports at US$ 7.11 mn.
India accounts for 80-85 per cent of the worlds CPD market in volume
terms, 55-60 per cent in value terms and about 90 per cent in unit terms.
Other major players in the global CPD market are Belgium and Israel.
Surat contributes 90 percent of India's total diamonds exports.
India's domestic branded jewellery market is estimated at US $150 bn.
There are 13 bullion importing banks in India.
India's Gem and Jewellery Exports Promotion Council (GJEPC) is aiming at
turning India into an International Diamond Trading Centre.
Since India already enjoys 80-85 per cent of the world CPD market, scope
for further growth in diamond exports is limited. Hence, if India's gems
and jewellery sector is to substantially increase exports, the best bet lies
in the jewellery sub-sector. Given the fact that the global market for
stone-studded jewellery is expanding, there is scope for expansion in
Indias diamond-studded jewellery exports as well.
With or without diamond-studding, gold jewellery is a market where India
has tremendous scope for export growth. India is the worlds biggest
consumer of gold according to World Gold Council Statistics. However,
Indias exports of gold jewellery (13 per cent of its total gem and jewellery
exports) are negligible: less than 2 per cent of the US$ 80 bn global
market.
Decades of insulation from the world markets has also not helped
jewellery design evolution in India. India is by far behind Hong Kong, Italy
and has built its brand in trust. Tanishq now stands for quality and purity.
They even have gold meters where one can check the purity of gold.
It is first and only jeweler who guarantees the purity of its gold jewellery
and certifies the quality of its diamonds and colored gems in writing. Thus
it has established itself as a highly ethical player in a market that was
rated as having the highest incidence of underkaratage (Bureau of Indian
Standards).
Widely acknowledged as a design leader, Tanishq is known for its ability
to develop specialized design collections. Tanishq is the only jeweler that
houses a full-fledged design studio with a team of several international
award winning Indian designers. Tanishq was recently adjudged the Most
Admired Jewellery brand (for the third consecutive time) [pic]in India at
the Images Fashion awards. It has also been judged as the Images
Retailer of Year in the fashion category.
Distinctive positioning and customer experience. Yet another aspect of
Tanishq that sets it apart is a whole new jewellery buying experience
offered by its exclusive retail showrooms. 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
showrooms on an ongoing basis.
It has a distinctive positioning [pic]in India as it is known for its high
quality and jewellery with international standards. Also, since they have
many stores across the country they give guarantee on their jewellery and
also offer to repair it free of cost anywhere across the country.
Customer Overview:
There was always lack of trust among the consumers for their jewellers.
Tanishq removed that with a promise of purity. Hence what it did [pic] in
India it can replicate across the globe. Offer a totally new perspective to
Jewellery buying especially when it comes to exquisite oriental jewellery.
Oriental Jewellery across the world is usually found in flea markets or
place like China Town or Indian Markets. Going into the main markets in
the Western world will give Tanishq the edge. The market can be
segmented into two categories of customers:
Customers who by gold for investment
Customers who buy gold for embellishment
SWOT Analysis
Strengths
Capital
Flexibility
Innovative
Modern Style
Weaknesses
Not for me
Gold Perceptive
Limited Outlets
Opportunities
TATA Support
Globalization
Threats
Gold Plus
Local Jewellers
Gold Significance
Government Regulations.
Key issues
Heavy Competition
Solutions