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brand audit of TANISHQ

Preprint · March 2019

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Kiruthiga Elangovan
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1. INTRODUCTION

1.1.BRAND AUDIT
A brand audit is effectively a health check of the brand to identify and address problems
areas with a net result of helping you turn things around and grow your bottom line.
Brands are like living entities with life cycles. They start with much excitement and
promise, grow and then eventually plateau. It’s at this mature stage of evolvement when
they potentially start to lose relevance as customers move on to the latest hot new thing.
A brand audit health check helps you monitor this cycle so you keep your brand fresh and
relevant and know when to reinvigorate or revitalise before sales start to slip. A brand
audit also enables you to identify new areas for innovation and growth.

1.2. STEPS FOR CONDUCTING BRAND AUDIT

➢ Create a framework

➢ Question your customers

➢ Review your web analytics

➢ Review social data

➢ Review sales data

➢ Look at your competitors

➢ Take action and monitor results

2. INDUSTRY PROFILE
India's gems and jewellery sector is one of the largest in the world contributing 29 per
cent to the global jewellery consumption. The market size of the sector is about US$
75 billion as of 2018 and is estimated to reach US$ 100 billion by 2025. The sector is
home to more than 300,000 gems and jewellery players, contributes about 7 per cent
to India’s Gross Domestic Product (GDP) and employs over 4.64 million employees.
India's gems and jewellery sector contributes about 15 per cent to India’s total
merchandise exports. The overall net exports of gems and jewellery stood at US$
32.71 billion during FY18 registering a compound annual growth rate (CAGR) of
5.83 per cent over FY05; whereas gems and jewellery imports increased at a CAGR
of 7.97 per cent from US$ 11.63 billion in FY05 to US$ 31.52 billion in FY18.
India is the world’s largest centre for cut and polished diamonds in the world and
exports 75 per cent of the world’s polished diamonds. Today, 14 out of 15 diamonds
sold in the world are either polished or cut in India. India exported US$ 21.95 billion
worth of cut and polished diamonds in April 2018-February 2019*.
 India is the largest consumer of gold in the world. Rising middle class population and
increasing income levels are the key drivers for the demand of gold and other
jewellery in India. Gold demand in India rose 11 per cent year-on-year to 523.93
tonnes during January-September 2018. Also, the Government of India has permitted
100 per cent Foreign Direct Investment (FDI) in the sector under the automatic route.
As of January 2018, the Reserve Bank of India (RBI) has increased the scope of the
gold-monetisation scheme by allowing charitable institutions and government entities
to deposit gold, which is expected to boost deposits over the coming months. The
Bureau of Indian Standards (BIS) has revised the standard on gold hallmarking in
India from January 2018, to include a BIS mark, purity in carat and fitness as well as
the unit’s identification and the jeweller’s identification mark on gold jewellery. The
move is aimed at ensuring a quality check on gold jewellery

3. COMPANY PROFILE

Tanishq is a jewellery brand of India. It is a division of Titan Company ,a company

promoted by the Tata Group in collaboration with the Tamil Nadu Industrial Development
Corporation (TIDCO). Tanishq's headquarters is at Bengaluru (Bangalore) in Karnataka. By
the end of the 1980s, the Titan Company launched Tanishq in an attempt to earn its own
foreign exchange, focused largely on exports. In the early 1990s, India's exchange issue was
fixed, and the Titan Company chose to focus the brand on the Indian market. The first
production plant launched in August 1992, and Tanishq's first store opened in 1996. Tanishq
was the first jewellery retail brand in India
The first years of Tanishq recorded consistent losses. In 2000, Managing Director Xerxes
Desai chose Bhaskar Bhat to succeed him. Starting in 2000, its net worth started to grown,
and by 2003, Tanishq was among the top 5 retailers in India, and made up 40% of the Titan
group's revenue.
In the early 2000s, Tanishq opened stores internationally, in the Middle East and in the
United States (Chicago and New Jersey), but closed them before the end of the decade.
Tanishq made the beauty pageant crowns for the Femina Miss India 2007. By 2008, Tanishq
had 105 stores in 71 cities in India. In 2011, the Tanishq group launched the sub-brand called
Mia for working women. In November 2012, Tanishq reached a landmark when it opened its
150th showroom in India
In October 2013, a TV ad launched by Tanishq stirred a controversy because it enacted a
second marriage for the bride and the groom, even though divorced or widowed women are
outcasts in the Indian culture.
In April 2014, the brand started to export to the United Arab Emirates. In July 2014, Tanishq
announced it ceased its gold deposit schemes to comply with the Companies Act 2013,
schemes that enabled its clients to save up to buy gold, but launched it back just a few months
later in a format that complied with the new laws.
By June 2014, Tanishq had 167 retail stores nationwide, and announced the opening of 30
more by the end of 2015. In May 2015, Tanishq enrolled Deepika Padukone to be the brand's
ambassador.
In 2017, Tanishq launched a sub-brand called Rivaah targeting the wedding segment. In
January 2017, the Titan group merged its Gold Plus stores with the larger Tanishq retail
brand. In April 2017, Tanishq launched the sub-brand Mirayah to cater to women under their
40's. In December 2017, Tanishq launched the Aveer line, its first line of products for men.

Tanishq

Type Subsidiary of Titan Company

Industry Jewellers

Founded 1994

Headquarters Bengaluru, Karnataka

Area served Worldwide

Website www.tanishq.co.in
 BRAND INVENTORY OF TANISHQ

BRAND ELEMENTS

BRAND NAME TANISHQ

BRAND LOGO

BRAND SLOGAN India’s most trusted jeweller

URL https://www.tanishq.co.in/

UNIQUE SELLING PROPOSITION OF TANISHQ

Exclusive designs made by the designers of the company

The jewellery is manufactured for south India comes from the manufacturing unit in
Hosur

Pioneer in introducing Karat meter for purity

SWOT ANALYSIS OF TANISHQ

BRAND STRENGTHS

Purity
Certificate For Plain Gold
Quality
Trust
Strictly Follows All The Rules And Regulations Of The Government
BRAND WEAKNESSES

Limited global presence

Tough competition from other jewellery brands

BRAND OPPORTUNITIES

Global penetration in other countries

Acquisition of smaller businesses to increase brand position and reach
Tie-ups with corporate and business partners

BRAND THREATS

Economic fluctuations mean people decrease their spending

Govt policies, taxes etc also affect the premium jewellery segment
Trends change quickly, hence innovations and R&D are investments

TARGET MARKET OF TANISHQ

 Tanishq target both men and women of different ages

 They have collections for both men and women for different occasions
 Tanishq have exclusively holds jewellery collection for men called “AVEER” in
order to attract men as well.

BRAND POSITIONING OF TANISHQ

 The brand positions itself as the leader of purity and trust of jewellery among
customers
 It has wide and exclusive range of collections.
 Provides certificate of authenticity
 Most ethical in nature

BRAND COMMUNICATIONS

 TV advertisements featuring Deepika Padukone as brand ambassador

 Pamphlets, invitations to all customers in that locality
 Text messages and online advertisements
 The brand follows both traditional and modern methods of communication to interact
with the customers.

CHALLENGES OF THE BRAND

 Every design created has a valid period of 180 days and if the jewellery is sold within
those days the jewellery will be melted and the design will not be available in the
stores.
 The value for the jewellery is fixed and cannot be reduced like other stores which
results in losing some customers.
 COMPETITORS OF TANISHQ

 Sree kumaran thanga maaligai

 GRT jewellers
 Joy Alukkas
 Malabar gold and diamonds

CONSUMER PERCEPTION ABOUT THE BRAND

Status/Loyalty/Attachment
towards Tanishq
Resonance
Quality
N ABOUof
Tanishq Feeling of
jewellery beautiful,
Judgements Feelings Sophisticated,
Self respect.

Performance Imagery Status of

Prominenc
e

Salience

Basic product awareness-Different from

unbranded jewellery/ fashionable brand
RESEARCH METHODOLOGY

INTRODUCTION

To study and analyse the brand audit of tanishq various research methodologies like
questionnaires interviews and other past research papers done in the same topics are undertaken
for collection of information.

RESEARCH DESIGN

Descriptive research is being used for performing this research project.

PRIMARY DATA

The data is collected mainly through questionnaires and interviews collected from various
people

SECONDARY DATA

The secondary data for the research is collected from various articles and other research papers
based or relevant to the topic.

.SAMPLING METHOD

For this study random non probability sampling method is used .

TOOLS FOR DATA COLLECTION

• Questionnaires

BRAND AUDIT QUESTIONNAIRE

On
“TANISHQ JEWELLERY”
Demographic profile:

1.Gender

• Male
• Female

2.Age

• < 18
• 18-25
 • 26- 40
• Greater than 40

3. Are you a

• Student
• Graduate
• Employed
• Home maker
• Retired
• Others

4. How frequently do you buy jewellery?

• often
• sometimes
• rarely
• only for special occasion

Please give your rating on 5-point scale with:

1- Strongly Disagree, 2- Disagree, 3- Neutral, 4- Agree, 5-Storngly Agree

No Brand Salience 5 4 3 2 1
1. I am familiar with the brand “TANISHQ”
2. I am aware that TANISHQ brand is a part of Tata group
3. I am aware that Tanishq jewellery is offering men collection of
jewellery
4. I am aware that Tanishq brand is offering collection for working
women
5. I am aware that Tanishq brand is the first branded jewellery in
India
No Brand Performance 5 4 3 2 1
1. The jewellery in Tanishq are exclusive and unique
2. The jewellery in Tanishq are exclusive and unique
3. The brand Tanishq reflects the quality
4. The brand has different varieties to offer
5. The brand offers good service to the customers
No Brand Imagery 5 4 3 2 1
1. The brand offers the best jewellery in the market
2. The brand is bit high priced than the other brands
3. The brand gives a higher status in the society
4. The brand has earned a good name for its products
5. The packing of the products are up to the name of the brand
No Brand Judgement 5 4 3 2 1
1. I always have a positive attitude towards the brand
2. The brand’s showroom and ambience is better than the other
stores
3. I think that Tanishq is far superior in design and service than
other jewellery brands
4. the brand has more advantages and features than other jewellery
brand
5. The brand’s price is justified with the quality of the product
No Brand feelings 5 4 3 2 1
1. The brand gives a good feeling while wearing the jewellery
2. the designs of the brand have created a beautiful version of
myself
3. The brand earns me confidence while wearing the jewellery
4. The brand’s jewellery are comfortable to wear it anytime
5. The jewellery of the brand is perfect for any occasion
No Brand resonance 5 4 3 2 1
1 I consider myself loyal to the brand

2 I have a special connection with the brand

3 I always recommend Tanishq brand to my friends and family

4 I would always have regular updates about the brand

5 The brand gives me a royal feel and feel special

Thank you for filling the questionnaire

BRAND EXPLORATORY OF TANISHQ

DEMOGRAPHIC PROFILING

GENDER OF RESPONDENTS

Count of
gender
female 41
male 25
Grand Total 66

Total

38% female
62% male

AGE OF RESPONDENTS

Count of
age
20 25 41
above 25 24
below 20 1
Grand Total 66

Total

2%
20 25
36%
above 25
62%
below 20
OCCUPATION OF RESPONDENTS

Count of are you

a
employed 29
home maker 6
retired 1
student 29
unemployed 1
Grand Total 66

Total

employed
2%
home maker
44% 44% retired
student
1%9%
unemployed

FREQUENCY OF BUYING JEWELLERY

Count of how frequent is your jewellery
purchase
often 1
rarely 18
sometimes 19
special
occasions 28
Grand Total 66

Total

28

18 19
Total

often rarely sometimes special

occasions
ANALYSIS OF BRAND AUDIT

OVERALL AVERAGE OF THE CONSTRUCTS

4.1
4.006060606
4 3.933333333
3.928030303
3.9
3.821212121
3.76969697 Average of BRAND AWERNESS
3.8
Average of BRAND PERFORMANCE
3.7
Average of BRAND IMAGERY
3.6
3.515151515 Average of BRAND JUDGEMENT
3.5 Average of BRAND FEELINGS
3.4 Average of BRAND RESONANCE

3.3

3.2
Total

Interpretation
From the chart of the mean of constructs it is seen that among other constructs brand image
of Tanishq stands on top which indicates that Tanishq have a good image among customers.
BRAND AWARENESS

brand awareness

I am aware that Tanishq brand is the first

3.2
branded jewellery in India

I am aware that Tanishq brand is offering

3.6
collection for working women

I am aware that Tanishq jewellery is

3.5
offering men collection of jewellery

I am aware that TANISHQ brand is a part of

4.2
Tata group

I am familiar with the brand “TANISHQ” 4.4

0.0 1.0 2.0 3.0 4.0 5.0

INTERPRETATION
From the chart it is found that most respondents strongly agree that they are familiar with the
Tanishq brand and it is a part of Tata group.
BRAND PERFROMANCE

brand performanc e

The brand offers good service to the

4.0
customers

The brand has different varieties to offer 3.9

The brand Tanishq reflects the quality 4.0

The jewellery in Tanishq are exclusive and

3.7
unique

3.5 3.6 3.7 3.8 3.9 4.0 4.1

Interpretation
From the chart it is seen that respondents agree that tanishq is a good brand performance by
delivering quality products and by offering good service to the customers.
BRAND IMAGERY

brand imagery

The packing of the products are up to the

4.2
name of the brand

The brand has earned a good name for its

4.0
products

The brand gives a higher status in the

3.9
society

The brand is bit high priced than the other

4.1
brands

The brand offers the best jewellery in the

3.8
market

3.5 3.6 3.7 3.8 3.9 4.0 4.1 4.2 4.3

Interpretation
From the chart it is evident that respondents think that the package of the product reflects the
brand image and think that the brand’s products are priced higher than the other brands.
BRAND JUDGEMENT

brand judgement

The brand’s price is justified with the

3.9
quality of the product

the brand has more advantages and

3.7
features than other jewellery brand

I think that Tanishq is far superior in design

3.9
and service than other jewellery brands

The brand’s showroom and ambiance is

4.0
better than the other stores

I always have a positive attitude towards

4.2
the brand

3.5 3.6 3.7 3.8 3.9 4.0 4.1 4.2

Interpretation
From the chart it is seen that most respondents mostly agree to the fact that they have a
positive opinion about the brand and the ambience is better than the other jewellery stores.
BRAND FEELINGS

brand feelings

The jewellery of the brand is perfect for

3.8
any occasion

The brand’s jewellery are comfortable to

3.9
wear it anytime

The brand earns me confidence while

3.8
wearing the jewellery

the designs of the brand have created a

3.6
beautiful version of myself

The brand gives a good feeling while

3.9
wearing the jewellery

3.4 3.5 3.6 3.7 3.8 3.9 4.0

INTERPRETATION
It is seen that respondents feel good while wearing the brand’s jewellery and it is comfortable
for them to wear it anytime.
BRAND RESONANCE

brand resonance

The brand gives me a royal feel and feel

3.6
special

I would always have regular updates about

3.4
the brand

I always recommend Tanishq brand to my

3.8
friends and family

I have a special connection with the brand 3.3

I consider myself loyal to the brand 3.5

3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8

Interpretation
From the chart it is found that respondents are most likely to recommend the brand to their
family and friends.
CORELATION ANALYSIS
The correlation analysis is done to find out the relationship between the constructs brand awareness,
brand performance, brand imagery, brand judgement, brand feelings and brand resonance of Tanishq

BRAND BRAND BRAND

PERFORM BRAND JUDGEME BRAND RESONAN BRAND
ANCE IMAGERY NT FEELING CE SALIENCE
BRAND 1 .823** .698** .670** .692** .565**
PERFO
RMANC
E
BRAND .823** 1 .704** .747** .686** .570**
IMAGE
RY

BRAND .698** .704** 1 .612** .686** .605**

JUDGE
MENT

BRAND .670** .747** .612** 1 .771** .584**

FEELIN
G

BRAND .692** .686** .686** .771** 1 .632**

RESON
ANCE

BRAND .565** .570** .605** .584** .632** 1

SALIEN
CE

**. Correlation is significant at the 0.01

level (2-tailed).
Interpretation
From the table it is indicated that all the constructs are positively correlated with each other
which means constructs are directly proportionate to each other. The significance of all the
constructs (p=.000) which says there is a significant difference between brand performance,
imagery, judgement, feeling, resonance and salience of Tanishq.
ANOVA TEST
H0: There is no significant difference between brand resonance, feeling and judgement with
respect to frequency of purchase
H1: There is a significant difference between brand resonance, feeling and judgement with
respect to frequency of purchase

ANOVA

Sum of Squares df Mean Square F Sig.

BRAND RESONANCE Between Groups 19.740 3 6.580 6.907 .000

Within Groups 59.065 62 .953

Total 78.805 65

BRAND FEELING Between Groups 7.806 3 2.602 4.379 .007

Within Groups 36.844 62 .594

Total 44.650 65

BRAND JUDGEMENT Between Groups 8.855 3 2.952 7.047 .000

Within Groups 25.971 62 .419

Total 34.827 65

Interpretation
From the table it is interpreted that p value is brand resonance is .000 and brand judgement is
.000 which indicated that there is a significant difference between brand resonance and
judgement with respect to frequency of purchase. Hence we reject the null hypothesis.
The p value of brand feeling is .007 which means there is no significant difference between
brand feeling with respect to frequency of purchase. Hence we accept the null hypothesis.
 TEAM MEMBERS
GANDHI 18MBA092
KIRUTHIGA 18MBA098
NARESH NANDAKUMAR 18MBA102

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