SALES AND MARKETING STRATIGIES OF

TANISHQ AND PC JEWELLERS

Dissertation

Submitted

in partial fulfillment

for the award of the degree of

Bachelor of Commerce Honours

in the Department of Commerce

Under supervision of Submitted by:

DR. Sunishtha Dhaka Shubham Soni

161002066

School of Business and Commerce

Manipal University Jaipur

2019

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 Table of Content

Content Page No.

Certificate of Supervisor
Declaration
Preface
Acknowledgement
List Of Table
List of Figure
Chapter 1: Introduction to the Topic
Introduction
Brand name
Chapter 2: Literature Review

2.1 Growth of tanishq Jewellers

2.2 4 p’s of Marketing
2.3 Product
2.4 Product Variety
2.5 Place
2.6 Pricing
Chapter 3: Research Methodology

3.1 Swot Analysis

Chapter 4: Finding And Analysis

4.1 Stratigies of sales and marketing

Chapter 5:Conclusion and Recommendation

5.1: Conclusion

Bibliography
Appendix

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 Certificate of Supervisor

This is to certify that the project entitled “Sales and Marketing strategies of Tanishq
And PC Jewellers” is partial fulfillment for the degree of “Bachelor of Commerce
Honours” is an authentic record of the research carried out by Shubham Soni under my
supervision and guidance at School of Business and Commerce, Manipal University
Jaipur. This work has not been submitted for any other degree or diploma in this
University.

Signature

NAME OF SUPERVISOR

3
 Declaration

I hereby certified that dissertation entitle “Sales and Marketing strategies of Tanishq
And PC Jewellers” herewith submitted in partial fulfillment of “Bachelor of
Commerce Honours” School of Business and commerce, Manipal University Jaipur is
an authentic record of the research work carried out by me. The matter embodied in this
dissertation has not been submitted for the award of any other degree or diploma.

Shubham Soni

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 Preface

It is my great pleasure to be a student of “Bachelor of Commerce” at Manipal University

Jaipur.

I am presenting this Dissertation report to exhibit all the knowledge that I have gained during
the research.

The area of my study is mainly focused on –“Sales and Marketing strategies of Tanishq And
PC Jewellers”The research covers a trease of knowledge that I gained during the research.

Thanks.

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 Acknowledgement

I am extremely thankful to Dr. Sunishtha Dhaka Mam for giving me the opportunity to
undertake this Dissertation project in Marketing Management and for overall support,
valuable guidance , astute judgment for perfection. Without this the Dissertation report
would not have in this their present shape.

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 Chapter1. Introduction of the topic

The Gems & jewellery industry

The Gems and j e w e l l e r y (G&J) market essentially comprises of sourcing,
processing, manufacturing and sell ing of precious meta ls and gemstones, such as,
Gold, Platinum, Silver, Diamond, Ruby, and Sapphire etc. The G&J market is a
significant contributor to the Indian economy, based on the size of the domestic
market and through its contribution to the country's exports. India is the largest
consumer of gold (around 20 percent of global consumption) and also the largest
d iamond processor (around 90 percent by pieces and 55 percent by value of the
globalmarket.

India's G&J industry is highly unorganized and fragn1ented "'ith 96 percent of

the total players being family owned businesses. The gold processing industry has
around 15,000 p layers, with only 80 hav ing revenues over USO 5 million. India is
a lso horne to around 450,000goldsrniths, 100,000gold jewe lers a long with 6,000
diamond processing players and 8,000 diamond jewelers. The value chain of
the industry starts from sourcing and rnining of the metals and extends to jewellery
retail. While i n d i a is not a major miner of prev ious meta ls and stones, the
country's inexpens ive and weil skilled workforce makes it a wor ld leader in
processing of diamonds. The country's jewellery retail sector is also expected to
evolve with a shift arnong consumers towards branded jewellery , driven by
greater qual ity consciousness.

There are a few major players in the G&J segment, with Rajesh Exports being the
most dominant name. Other key p layers in the field include Gitanja li Gems,
Suhashish Diamonds, Su-Raj Diamonds, Vaibhav Diarnonds and Tanishq. Many of
these players are focused on developing strong brands, large reta il operations,
strengthen ing their core manufacturing operations and bui lding a strong
internationa presence.

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Ind ia's large population and rapid economic growth offer significant opportunities for
growth of the industry . The emergence of jewellery retail c h a i n provide
customers with convenience and assurance of quality. The entry of foreign players is
a lso l i k e l y to increase cornpetition and provide consumers with greater choice.
Apart from the above, there are other factors that contribute to a favorab le outlook
for the industry.

Chapter2. Literature Review

Evolution of Tanishq jewellers

Tanishq jewellers carne into existence in July 1984, when the Tata Group joine .
Tanishq started manufacturing jewe llery watches and jewe llery in 1994. I t set up
its fully integrated Rs. 400 mi ll ion- jewellery p lant in Hosur. The p lant had
the capacity to manufacture four tonnes of gold in a year. Titan launched these
products under the brand narne of Tanishq, in 1995.

Growth of Tanishq Jewellers

Revenue in million Rupees

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4 . P's of Mark etin g
PRODUCT

• Product Variety
Tanishq today is I nd ia's most aspirationa l fine jewellery bran d with an
exquisite range of gold jewe llery studded w ith diarnonds or colored gems and
a wide range of equally spectacular jewe llery in 22Kt pure gold. Exquisite
p latinurn jewellery and designer silvenvare is also part of the product range.
Tanishq designs and rnanufacture s jewe llery that is breath- taking,
contemporary and yet has a tint of tradition. Itproduces 22 karat pure gold
earrings that come in various shapes, sizes and designs. Some earrings are
embedded w ith prec ious stones or colour gernstones. These jewe llery sets
are ovenvhe bning and cou ld prove to be apt for occasions such as marriage,
festivities etc. Furthermore, they a lso make bangles, chains, nose pins,
pendants, finger rings, Manga l Sutras etc. They a lso produce products made
from silver such as deity idols etc. Recently, Tanishq has started producing
diarnond jewe llery that are affordable and stunning. The diamond jewe llery
include collections such as: All Day Diarnonds, Aria, Dewdrops, Tanishq
Solo, Dancing Diamonds etc. These collections come w ith a certificate of
authenticity that states the karatage, color and clarity of the diamond.

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 • QUALI TY

Consistency in deliver ing on their prorn ise - Tanishq prorn ises superior qua
lity jewe llery w ith pur ity in gold. It is the first and only jewe ller that
guarantees the pur ity of its gold jewellery and certifies the qua lity of the
precious/semi- precious stones in writing.
They cla im and del iver the exact carats and w eight that they promise.
I mpur ity in gold and not delivering what was promised is one of the ma
in problems the consumers face when going for gold purchase.They
eliminated this and have bu ilt its brand in trust . Tanishq now stands for qua
lity and pur ity. They even have gold meters w here one can check the
pur ity of gold. Thus it has establ ished itself as a h ighly ethical player in a
market that was rated as having the h ighest incidence of under karatage
(Bureau of Indian Standards).It maintains its qual ity standards in a ll its
products w herever they are sold. This shows that they have a resolute
core purpose. This is what they have to rnaintain even when they global. They have
the right range of products for the different markets across the globe. Only
they have to rernember the ir d ifferentiating factor. The d ifferentiating factor for
Tanishq be the experience and qua lity they be giving the consumers when
they come to the store.

• DESIGN

widely acknowledged as a design leader, Tanishq 1s known for its ability to

develop specia lized design collections.
Each piece of jewellery is designed by a team of award winn ing designers. In
fact, Tanishq is the only jewe ler to have a full- fledged design stud io with

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one of the largest design teams in the country. Every product at Tanishq is
pa instaking ly crafted to perfection. Diligent care and qual ity processes
ensure that the Tanishq finish is unmatched by any other jewe ller in the
country .

Jacob kurian,CEO, Tanishq.

Tanishq was establ ished in 1995 and within ten years it has become the largest and
most desirable brand in the jewe llery segment in India. They have
constant ly introduced net offering to their consumers and have come up with net
innovative ideas. The surveys sholved that awareness of the brand w as
qu ite h igh. The company bel ieves that young urban women, with independent
incomes, are look ing at branded national jev;ellers. The brand bel ieves that
accretion to this segment is clearly in its favour due to the modern contemporary
image among women .

SERV ICES

J n 1999-2000 the communication and promotion budget was increased from Rs. 65 mi
llion to Rs 100 rnil l ion in 2000-01 . A majority of this was spent towards
advertising, wh ile a portion was a lso earmarked for prornotions tailored to match
reg ional preferences. For instance, in New Delhi, which was Tanishq single
largest market, substantial promotions were carried out. The Rs 100 mi llion was
spl it into four parts, cornpr ising nationa l-level spends (botl1 electronic and print
media), regiona l budgets, d irect rnai l and research. For the first time, Tanishq

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initiated a long-terrn media plan, airning to give the brand a roun d-tl1e-year
presence and enhance awareness.

A customer survey revea led that despite its high-bl itz ad campaign, many didn't
know whatTanishq was about,others found it too expens ive and some feltthat tl1e

product was not for people l ike thern .So, Kurian and h is team then decided
to launch the fifth anniversary celebrations of Tanishq that would offer
d iscounts to customers and induce them to come to the store. The p loy worke d
and they had custorners wa iting for the store to open.

Ad campa igns also started to l ist out the products that Tanishq had.
Bracelets, rings, chains, pendants were explicitly mentioned in each ad. A range
starting at Rs 399 was launched.The a im was to bring down the price barrier
significantly . Collections for the working women and a new set of conternporary
designs were brought into the stores.

Aria, for seven stone diamond jewe llery, Hoopla, focused on diarnond
studded hoops and Collection-G for lower priced gold jewellery with an
interest ing nvist are just a few lines that have come out of the Tanishq's
stable in the last three years.

One of Tanishq 's more innovative ideas is to offer special schemes during
various festiva ls. Tanishq has also initiated a loyalty program ca lled the
Golden Harvest Savings Scheme, which offers buyers the benefit of getting
more jewe llery than
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what they have paid for. The scheme a llowS consruners to plan future
purchases in advance and pay for thern in easy insta llments.

Exchange offer - change irnpure gold for pure 22 kt gold - attracted more people
to the stores. It is estirnated that roughly 2.85 lakh customers bought from - and
close to a million people went through - 53 Tanishq stores across 41 cities.
Since the European designs in 18-carat gold did not find any takers in 1997,
Tanishq introduced 22-carat ornaments. After h itting six countries in the last
four years, Tanishq entered the $57-billion US jewe llery rnarket with nvo
exclusive stores, one in Ch icago and the other in New Jersey, in the first quarter of
2007-08.

PLACE
Tanishq jewe llery is crafted in one of the world's most modem factories. The
factory complies with a ll labour and env ironrnenta l standards. Located at
Hosur, Tami l Na du, the 135,000 sq. ft. factory is equ ipped with the latest and
most modern rnachinery and equipment.

Tanishq reached the century mark as it unvei led its lOOth store in Patna at Hathwa
Market. Having embarked on the retail journey a decade ago, Tanishq today is the
largest jewellery retailer in Ind ia. W ith a strong presence in 70 cities across India,

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unmatched collections and assured purity, Tanishq has quickly become the first
choice of discerning custorners.
Tanishq opened 30 reta il stores during FY08, tak ing the tally to 130 stores.
Currently, the average store-size for Tanishq is 1,000-1,500 sq ft. The stores
operate on the franchise model.
Tanishq has undertaken several unique retail initiatives keeping in rnind the
customer dernand for a wor ld class shopping experience. As such Tanishq retail
identity has evolved over the years to offer large format and concept stores that
reflect the brand's philosophy of being "Revitaliser of Tradition".
Design and retail innovat ion have been the hal bnark of Tanishq a ll these years .
Tanishq has constantly formulated an innovative product strategy in thisjourney in
line with the evolv ing consumer tastes.

Tanishq gave cornplete freedom to the reta il outlets to pick up designs, which
they thought wou ld sell in their stores. Almost all the outlets stocked the
'best sell ing' range of designs, which did we il across the country.
In fact, industry experts reca ll a per iod when plain gold ga ined space in
Tanishq stores at the cost of studded jewe llery . "lt was perhaps an offahoot of its
expansion into mini-rnetros and other tOwns where the company thought pla in gold
wi ii be in more demand. It was not a we il-researched move," says an industry
expert.

Trad itiona l jev;ellers have been rebranding themselves and are expanding in
smaller tov;ns to widen reach. 'The emphas is for Tanishq wi ii be on specia l
collections, diamond jewe llery and b igger stores of about 4,500 sq ft,"
Venkataraman said.
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Tanishq's team of in-house designers carne out with about 3,500 designs
based on current trends and the feedback frorn stores. At least I Oo/o of
these designs were changed every quarter and fresh ones were added to the
stock.

PRICING

Vile have very large collections of pendants, earrings and fingerings in this
price range Rs 2000-5000. Tanishq range of products start at an accessible low
of Rs. 600 and the range - Solo, Aria, Diva, Hoopla, Lighnveights, Bandhan and
the most recent, Colours - compr ises wearable everyday jewe llery which has been
designed for the urban wolk ing woman.

The Tanishq Valentine's Day collection includes pendants, earrings and finger
rings starting from Rs. 2,000 onwards. Daytime's collection of all day
diamonds,

wh ich starts at an affordab le Rs. 1,960. The collection combines trad itiona l motifs
in sleek conternporary l ines with slight touches of black rhodiwn. The 'up to 25 per
cent' off offer by Tanishq is a unique opportunity. Th is attractive offer has
been introduced to benefit the customers and prov ide them with the best
price and product options. Affordab ly priced frorn Rs 2,500/- onwards the
Tanishq range of d iamond jewe llery is the ideal accessory for the
custorners.This collection is crafted using a specia l process ca lled electro-
forming. The jewe llery is targeted at customers who are look ing for internat iona
l designs, wearabi lity and value for money. The new collection starts from a

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pr ice range of Rs6,000 onwards a nd ava i lable at a ll Tanishq bout
iques across the country . Tanishq offers gold and gem-set jewe
llery in ov er 6000 trad i ti ona l ,

western and fusion designs. The Ta n ishq reta il cha i n currentl y

includes 1 12 excl usive bout iques m 75 cities, mak in g it Ind ia's first and
largest jewellery re ta i l cha i n.

Chapter3. Research Methodology

SWOT ANALYSIS
STRENGTH OPPORTUNITIES
• Purity (karat meter) • Global markets
Distributionn envork and reta il ing • Low cost jewellery
store • Customized jewellery
• Award winning designs designs
• Diversity m jewellery gold Concentrate on Gen-X by having
diamond p latinwn trendy jewellery
• Cornpetitive prices • Expand retail stores

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WEAKNESS
Capture Rs 70,000-crore
Escalated gold costs lower margin
THREATS
Cornpetition
Lack of Skilied workers
GoId not seen as s source of
investment. (Luxury is needed).

• Strength

Purity of the jewellery through karat rneter is sti ll the sign of total
purity. Distribution network and retailing store are in place for the
company with 130 stores countrywide. M ind bogg ling/award winning
designs have come for the company. Diversity in j e w e l l e r y
gold/diamond/p latinum enhances the product range of the company .
We a lso have competitive pr ices for
the entire product ranges as compared to the competitors .

• Weaknesses

Capture Rs 70,000-crore lndian jewe llery rnarket. Tanishq cornprises a

small share of the overa ll Rs 70,000-crore lnd ian j e w e l l e r y market

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and hence it needs to increase its market share in this huge industry.
Esca lated gold costs has caused lower rnarg ins is to push sales as
much as possib le.

• Opportunities

Global markets like USA needs to be looked at. Low cost and easy to
wear jewellery should be further promoted. Custornized
jewellery designs shou ld provided to the customers.
Concentrate on Gen-X by having trendy jewellery . Expand
retail stores in India to further increase reach .

• Threats

Cornpetition from local jewe llers a ll over India. Lack of Ski lled
workers in j e w e l l e r y industry. Gold is no longer seen as
source of investment.
People are rnore concerned about design and luxury.

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Chapter4: Finding And Analysis

Competitors

• Carbon
I n early 1991, the Bangalore based Peakok jewellery Pvt. Ltd.,
(Peakok) w as incorporated and Mahesh Rao (Rao) was appointed director.
Peakok realized that the Indian conswner's relationship with gold jewe
llery wou ld grow beyond an investment need towards a l ifestyle and
personali ty statement.In 1996, Within the Peakok fold a new bran d of
18-carat gold-based jewe llery called Carbon was launched. I n 2000-'O 1
Carbon's focus had always been to move jewe llery from the vau lt to the
dressing table and bring the sell ing of jewellery out of heav ily guarded
jewe llery stores. This w as achieved by persuading a few l ifestyle
stores to add branded jewe llery to their vast array of products. Besides
selling from l ifestyle stores, Carbon a lso sold its products as gift items
over the internet. Like Tanishq, Carbon laid ernphasis on design.
Most of its designs Were contributed by students at the National
I nstitute of Fash ion Technology (NIFT) through the d ip loma
programrne W h ich the company sponsored. I n addition, Peakok's team
of six designers, (headed by RajeSwari I yer, an alwnnus of a German
design school W ho had W orked in the U.K., Gennany and I nd ia) turned
out around 180 to 200 styles in a year, With 75 designs per style. At
any point in time, there are around 600 designs of Carbon on sale. The

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creation, manufacture and marketing of Carbon W as different from the
rnaking and selling of traditional jewellery .
It is rnade ava ilable at 'shop-in-shop' outlets in large lifestyle stores
(such as Shoppers Stop, Ebony, Globus, The Bombay Store, Lifestyle and Ta
j) and some premium boutiques (such as the Helvetica in
Chennai). Carbon products were priced benveen Rs. 2,750 and Rs. 20,000
per piece. whi le the cost of traditional jewe llery was negotiable, the cost of
Carbon items was fixed and nationa lly unifonn.The brand is ava ilable at 50
outlets in 23 cities.

 Gili
Gi l i launched a collection of traditiona l Indian ornaments made of 18-
carat gold . In1999, the Gi li Gold range was introduced. This range
included rings, pendants, earrings, necklaces and bangles made of 24-carat
gold. All G ili products came w ith a guarantee of diamond and gold
qual ity
Gi l i distributed its jewe llery pr iced benveen Rs. 500 and Rs. 40,000
through l ifestyle and department stores across the country to increase
accessibility among its target segment, the 15 to 30 age group. Gi l i
distributed its jewe llery priced benveen Rs. 500 and Rs. 40,000 through l
ifestyle and department stores across the country to increase accessibility
among its target segment, the 15 to 30 age group.
The collection was promoted at college campuses with banners, pamphlets
and a few advertisements targeted at teens . Gili soon realized that just push
ing its product

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was not enough; it also had to customize its products for special
occasions. Following th is, it launched a Diarnond Heart Collection
specially designed for Va lentine's Day. Th is collection cons isting of tiny,
heart-shaped diamond jewe llery
was weil received by teens. Special packag ing, catchy advertising and
extensive press coverage contributed to the success of the collection.
Gili a lso made special promotional offers during festive seasons l ike
Christmas and Diwali. Hav ing captured the low price point market of
Rs.2000 to Rs. I 0, 000, the cornpany is focused on penetrating the
premium market of customized jewe llery. For this Gitanjali jewe ls
opened a jewe llery sa lon, G ianti, to provide customized jewe llery to
clients in I ndia.

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conclusion
In the fast changing international business environment, it is the need of the hour to
understand diversity at workplace and its implications. Managers could bring a more
positive outlook of these variations if they understand the reasons behind these diverging
behaviours. An in depth understanding of differences as explained by Hofstede‘s
Dimensions provide an explanation for the differences in managerial behaviours caused
due to varied cultural backgrounds. The theory helps in keeping in sync with the customs
and values of the country. The managerial style, thus, adopted would be a logical one
keeping up with the dynamism of societal and business environment. It would also be
able to handle conflict in a productive manner and create a competitive work atmosphere.
If this cultural consciousness is made possible throughout the organizational hierarchy
and not just at the top, a greater part of conflicting view could be dealt with positively
before it becomes a serious managerial issue. People, who are at the same level of the
structure, would better understand why the clash of opinion is happening if they are
sensitive to the cultural variation. The overall impact would be a peaceful workplace with
more time and energy for productive activities.

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 Bibliography
https://www.Hosftede-insight.com

https://incredible –india-cayla-weebly.com

https://www.researchgate.net

https://digital commons.kennesaw.edu

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