STRATEGY USED BY TANISHQ

PRESENTED BY: BIRENDRA SINGH GURUVEER SINGH M.B.A. FINAL YEAR

TANISHQ- AN INTRODUCTION
Tanishq is India's largest, most desirable and fastest growing jewelry brand in India. Started in 1995, Tanishq is the jewelry business group of Titan Industries Ltd -promoted by the TATA group, India's most respected and widely diversified business conglomerate. A retail sale of 1200 crore last year and gunning for 2000 crores this year, Tanishq has arrived in the Indian jewelry market. The factory complies with all labour and environmental standards. Located at Hosur, Tamil Nadu, the 1,35,000 sq.

Tanishq Platinum Metal at its best.

PRODUCT LINE & THE COLLECTIONS

PRODUCT LINE: Tanishq Diamonds The sparkle of diamonds has always attracted the human eye. Tanishq Gold

Tanishq Platinum Metal at its be

THE COLLECTIONS:
The Diamond Collection The Wedding Collection

The Zoya Collection

BONUS:
60% of monthly installment in Annual Plan 130% of monthly installment in Extended Plan At the end of the scheme period, pick up Tanishq jewelry of your choice worth the amount deposited plus the BONUS

Exchange Policy in Tanishq Exchange your old jewelry for new with Tanishq Most retailers have a differential buy back or different rates for selling and buying gold jewelry. At Tanishq, a single gold rate is maintained for buying or selling gold jewelry. 8% of the value is deducted for costs involved with testing, refining and taxes for the jewelry given by the customer. Gift Vouchers Gift Vouchers make the perfect gift for friends and family. These are available at all Tanishq showrooms across India and are also redeemable across the country, Gift vouchers are available in the following denomination Rs. 2501/-, Rs. 5001/- , Rs. 10001/- and Rs. 25001/-

STRATEGY USED
Marketing Equals the Four Ps Part of marketing is identifying the mix of "Ps" that makes your service unique. This is also called your marketing mix. The next step is to shape your marketing mix and position its components to create a unique identity for your business that attracts and retains customers. Your market position is one or more selected benefits or features that make your operation unique and different. The following steps will help you define your 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

PRODUCT Features Optional Product Quality Staff Style Brand

PLACE (DISTRIBUTION) PROMOTION PRICE (COST) Location Publicity List Price Services Frequency of Service Sales Promotion Discounts Transportation Personal Selling Credit Terms Quality Distributors Advertising Inclusive/Not Inventory Mailing List Remoteness Name Packaging Guarantees

Tanishq has excelled in 4 Ps of marketing and hence it is the top brand in India.

TANISHQ MARKETING STRATEGY

When Titan launched Tanishq in 1995, the jewellery industry in India valued at Rs 40,000 crore, was mostly unorganized, with around 3.5 lakh players. India was the second largest consumer of gold in the world after USA. Before 1992, only the Metal and Mineral Trading Corporation and the State Bank of India were allowed to import gold. In 1992, as part of economic liberalization, the government abolished the Gold Control Act of 1962, allowing free import of gold. In 1993, private companies were allowed to enter the hitherto restricted gold and diamond mining industry. Foreign investors were allowed to hold up to 50% equity in mining ventures.

 In the 1990s, a number of brands entered the Indian jewellery market. In 1995, Mumbai based jewellery exporter, Gitanjali Jewels, started selling 18-carat gold jewellery under the brand name of Gili. Su-Raj (India) Ltd. launched its 22-carat gold and diamond jewellery in 1997. Other well known domestic players included Tribhovandas Bhimji Zaveri, Mehrason's and P. C. Chandra. Among the foreign players who entered the market were Cartiers, Tiffany, De Beers and Ashton Mining

Titan realized that there was a huge untapped market for branded jewellery in India. The critical success factors in the business were quality, fashionable design, and good after-sales service. Titan also observed that the changing lifestyles demanded lighter and trendier jewellery. After its launch, Tanishq faced several problems. With its original focus on exports, Tanishq's designs had been conceptualized for the Western markets and were introduced in India without any alterations. Formal consumer surveys showed that though brand awareness was quite high, it suffered from several negative perceptions. Many potential customers thought the products were over priced and associated the brand only with the rich. Hence, Titan decided to change its strategy on two fronts: Value proposition Retailing.

 Since the European designs in 18-carat gold did not find any takers in 1997, Tanishq introduced 22-carat ornaments. Customer surveys revealed that gold jewellery was not bought so much for design as for value. Titan also decided to do away with the shop-in-shop formats and started retailing its jewellery through exclusive Tanishq outlets from 1998. 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 and typical designs from Tamil Nadu in Bombay in order to appeal to a variety of people. The same year, Tanishq entered the studded jewellery segment, which it had ignored for long. Titan also tapped institutional customers also. In 1998, it launched the corporate gold gift scheme - 'When you want to say thank you, say it in gold'. In 1999, Tanishq delivered gold coins worth Rs. 20 crores to Maruti Udyog Ltd., to be given away as gifts to Maruti car owners. In early 2000, it made miniature gold cars for Hyundai Motors to be given to select dealers. The Tanishq strategy for the coming couple of years relies on two things increasing penetration in the domestic markets and going abroad in order to diversify its revenue portfolio.\

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