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BRAND MANAGEMENT
Group Project

Submitted by- Group 3

Name Enrolment number

Ishita Bhandari 21A3HP615

Lisa Lal 21A3HP630
Aditi Kushwaha 21A3HP632
Parul Prasad 21A3HP617
Divij Yadav 21A3HP621
Vibhor Trivedi 21A3HP604
Shivam Sharma 21A3HP618

Submitted to-
Prof. (Dr.) Nitin Gupta
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Tanishq has credited for creating the idea of branded jewellery in India. It is one of the most well-known companies with
high-quality goods and original designs. Tanishq sells jewellery made of platinum, diamonds, and gold. By creating the
Karat meter to determine the purity of gold, it has been a pioneer in educating the public about the presence of an impurity
in gold jewellery.

Tanishq has targeted urban women from the upper and upper-middle classes as potential customers. It deals with women
who adore jewellery and are willing to shell out money for an exquisite and rare item. Tanishq aggressive marketing
strategy has allowed it to grow into one of the key brands of its parent corporation. The company has produced exquisite
advertising campaigns that showcase its goods to its best advantage and increase brand recognition. Tanishq has chosen
Indian starlet Deepika Padukone to represent its brand because it recognizes the importance of celebrity endorsements.

TANISHQ BRAND POSITIONING

Frame of reference
Tanishq has specifically targeted ladies who live in large towns, cosmopolitan cities, etc. Upper middle class and above
with the following age ranges: 20–30-year-old newlyweds, 31–40-year-old married couples with children, and 41–55-
year-old couples with daughters of marriageable age.

Point of difference
Tanishq is the first and only jeweller to provide written guarantees for the quality of its diamonds and coloured gems and
the purity of its gold jewellery. This one is the only jeweller with a complete design studio and a staff of numerous
internationally recognized Indian designers.

Point of Parity
Competitor jewellery is also made for certain celebrations and events regarding usage.

MARKETING PROGRAM INVESTMENT

Tanishq a name coined by Xerxes Desai the managing director and vice chairman of Titan. ‘Tan’ meaning body and
‘Nishq’ meaning gold ornament, Superior craftsmanship, exclusive designs, and exceptional product quality are all
associated with the name Tanishq. Tanishq quickly developed into a 22K gold jeweller that recognised the changing
requirements and preferences of the Indian woman. Tanishq was the first and largest jewellery retail store thanks to a
fusion of traditional values with a modern approach, which also helps them to keep their position as the top Indian
jewellery brand.
Tanishq creates jewellery that is both cutting-edge and traditional in a subtle way. It creates a variety of sizes, shapes, and
styles of 22 carat pure gold earrings. Some earrings feature coloured or valuable gemstones inlaid in them. These
jewellery sets are extravagant and may be suitable for events like weddings and celebrations. Additionally, they provide
finger rings, Mangal Sutras, bangles, chains, nose pins, pendants, and more. Additionally, they manufacture silver-based
goods such deity idols and other items.
Tanishq has recently begun making exquisite and reasonably priced diamond jewellery. All Day Diamonds, Aria,
Dewdrops, Tanishq Solo, Dancing Diamonds, and other collections are among the diamond jewellery offerings.
Tanishq was the one who introduced the Karat Meter into India as means to check the quality of the jewellery without
breaking it, which helped the brand to create the brand image and creating trust with the consumers of providing jewellery
with authentic pure gold as they can check it with the Karat Meter.
Tanishq has created a flexible approach to cater the needs for every type of women who wants to wear jewellery. Tanishq
has been creative with their ad campaigns also letting the customers know with their ads that a jewellery can be wore
anywhere at any point of time also changing the perception of the customers that not every jewellery is expensive which
lets them cater to the middle class of the economy.
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ANALYSIS OF PROGRAM QUALITY MULTIPLIER

1. Distinctiveness – All the marketing campaigns by Tanishq were unique in portraying that their jewellery is
bringing relationships or people closer together on various occasions such as Weddings, Valentine’s day, Diwali
etc. through their unique and beautiful jewellery.

2. Relevance – The marketing programs are a lot meaningful to the consumers as it not only showcases the ethnic
diversity i.e. Portraying people from different cultures, states etc but also in the jewellery design relevant in their
region.

3. Integrated – Tanishq ads are well integrated to created biggest impact on the consumers because all of them
focus on increasing bonds between relationships by gifting or sharing jewellery for each and every occasion. They
even launched new brand ‘mia’ under Tanishq as everyday affordable jewellery for working women/ girls. This
way they have ensured to cover all its target segments and there’s something for everyone in Tanishq.

4. Value – Tanishq launches new campaign on every occasion (time when Indian’s buy a lot of jewellery) such as
Diwali, weddings, Raksha Bandhan, valentine’s day etc. which helps them boost additional sales (short term)
along with that they also have customer loyalty program and pay in instalments program to drive sales (Long
term).

5. Excellence – Tanishq does showcase state of the art thinking and corporate wisdom while designing it’s
marketing activity like
 Their collection names have emotional meaning connecting to the audiences e.g., Rivaah Brides, Dor,
Rhythms of Rain etc.
 The campaigns are named with catchy slogans such as Sunehri Diwali, #for you mom, #best at work,
Tanishq wali Diwali
 They have launched sub brands under Tanishq such as mia and caratlane to make everyday jewellery
more affordable for its customers.

ANALYSIS OF HOW TANISHQ IS ABLE TO INFLUENCE CUSTOMER'S MINDSET

Fifty-four people whose ages ranged from 18 years to 30 years participated in the survey; data were cleaned, and
comparative data from 53 rows were analyzed. Among all participants, 61.1% were men, and 38.9% were women; 51.9%
bought jewelry once a year; 27.8% never did; 7.4% once every six months; 5.6% once every three months; 3.7% almost
every month; and 3.8% once every two to three years.
Brand Awareness:
When asked "which brands spring to mind when people hear jewelry," 77.35% recalled Tanishq (without giving any cue).
98.1% of respondents who were asked "which brands spring to mind when they hear jewelry" recognized  Tanishq (giving
multiple brands as a a cue).
Tanishq is 100% recognizable by its logo.
Brand salience was examined by presenting a hypothetical purchasing scenario in which 86.2% of the sample would
choose to purchase jewelry from Tanishq.
Brand Association:
To determine the perceived benefits and value customers receive from the brand, attributes like trustworthiness,
likeability, expertise, and uniqueness are considered.
Tanishq's anthropomorphism was primarily labeled as reliable, which indicates the brand's expertise.
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76.5% of respondents in the top 2 boxes believe they can wear Tanishq jewelry to various events.

Brand Attitude:
Of those surveyed, 75.4% strongly agree that the top 2 boxes for quality and 69.8% for satisfaction, respectively.
Considering the top 2 boxes, 56.6% of the sample agrees with the statement "personal importance."
Brand Attachment:
The degree of attachment was evaluated in terms of qualities, including warmth, fun, excitement, security, social
acceptance, and self-respect.
Most consumers would miss the brand if it disappeared, demonstrating their loyalty to Tanishq as a brand.
Brand Activity:
Tanishq, a brand that "people like me" use, received the most votes (68.7%). The engagement was also satisfied when
60.8% of respondents said they would recommend the brands to others.
Only 49% of the respondents believed themselves to be Tanishq loyalists.

ANALYSIS OF MARKETPLACE CONDITIONS MULTIPLIER

1. Competitive Superiority

Over 20% of sales for Titan Company Limited's main jewellery line Tanishq currently come from the wedding
jewellery market. The business has been working to increase its market share in India's arranged wedding
jewellery sector, which accounts for more than 50% of all jewellery sales.
Some marketing Strategies of Tanishq-
 Tanishq wants to be significant and symbolic for customers' most priceless moments through its different
campaigns and activities. Owning the moments connected to the brand is one tactic used by Tanishq as
part of its marketing strategy, according to Krishnaswamy.
 Safety in actual stores is another important issue that the business should be aware of when the second
wave sweeps the country. Additionally, Tanishq plans to adopt a 360-degree marketing strategy and push
it to the limit. During this time, the brand will make use of dynamic and adaptable mediums while
continuing to promote pertinent dialogues across conventional and digital media platforms.
 Krishnaswamy also emphasises that the brand will focus on lightweight, daily jewellery for casual
situations as the trend for "above-the-key" wearing rises.
 Tanishq has more than 1.4 million Facebook fans, 719 thousand Instagram followers, 99.8 thousand
YouTube subscribers, and more than forty thousand Twitter followers.
 The company claims that because it only has a 6% market share of the Rs 4 lakh crore market, there is
"vast headroom in a geographically fragmented market."
 According to the corporation, its fashion jewellery brand Tanishq wants to increase sales from Rs 290
crore in FY22 to over Rs 2,000 crore by FY25.

2. Channel Support

 Tanishq has increased its digital offerings with the goal of assuring the safety of all its stakeholders, and
it is seeing success.
 The firm has been able to improve the customer experience and generate sales of around Rs 100 crore
simply through video conversations with the use of video calls and WhatsApp chats.
 Titan Company Ltd.'s Ajay Chawla, CEO of the Jewellery Division, speaks with us about the brand's
efforts to entice consumers back to the market and its long-term goals for expansion.
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 The nation was gradually coming under lockdown, but everyone was also aware that the pandemic is far
from done. Tanishq was aware that customers are hesitant to visit showrooms since it has engaged in
extensive social listening.
 Tanishq has been developing a 360-degree digital plan to assist customers in completing their journeys in
order to assist them in overcoming this anxiety and ensure that their business is not hindered.
 Tanishq has introduced the "Endless Aisle" concept, which provides customers access to nearly all of its
inventory, with the aid of video conversations, WhatsApp chats, and virtual appointments. Out of its 330
locations, 260 have already implemented the video calling and infinite aisle features.
 Since we started offering video calling, it has become so popular that we have already helped close to
400-5000 consumers. Additionally, over the past two months, we have generated about Rs 100 crore in
revenues with only video calling.

3. Customer Size and Profile

 Tanishq's target market is middle-class and upper-class women. This store sells jewellery to customers
that appreciate fine jewellery and are willing to pay a premium for it.
 They are mainly interested in women between the ages of 20 and 50 when a new collection is presented
each time.
 Through Facebook adverts, they largely target local women; guys are not their main target.
 Middle-class clients had previously shied away from Tanishq due to misconceptions they held about the
exchange rates and pricing compared to traditional jewellery stores, but this issue had been resolved, he
claimed.
 High-end diamond jewellery has also received a lot of attention, which attracted High Net worth
Individuals.

ANALYSIS OF BRAND’S MARKET PERFORMANCE

There are six main ways how consumers react in a marketplace that determine the brand’s market performance:
1. Price premiums
Whether consumers react favourably to the price hikes or not?
In jewellery brands, the price mostly depends on the price of gold at the time of purchase. The price of gold can
fluctuate intensively within short periods of time; hence many people buy gold as an investment.
While it does provide high-end products as the only option for the ultra-rich class, it also tries to equalise the
pricing of its lower-end products because there is a larger market for them. Tanishq ploys a variety of strategies to
compete in the market. To convey originality and reliable quality, it has incorporated conventional and
straightforward designs. The trick is that the product's reliability and quality hold true whether you're purchasing a
pricey jewel or a pair of budget-friendly earrings.
2. Price Elasticity
How much does the demand of the products of Tanishq increase or decrease when the prices fall or rise? As per
our primary research, the fall or rise does not affect Tanishq’s consumers exclusively since they are anyway
buying a high-end product. Also, the brand is established as a very trustworthy and reliable brand for decades and
when it comes to making a big investment, most people would go for something trustworthy rather than trying
something new. Hence, the price elasticity of demand in this case is low.
3. Market Share
As per our secondary research Tanishq captures about 20% of the $80 billion Indian jewellery market which does
not make it a market leader. Tanishq has a lot of marketing programs that help to drive brand sales, like Tanishq
Utsava, Rivah by Tanishq etc and other brand extensions like Mia by Tanishq, Z and Caratlane. The business has
produced some remarkable marketing efforts that both fully exhibit its products and raise brand recognition.
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Advertisements have been broadcast on a variety of channels, including social media sites like Twitter, YouTube,
and Facebook as well as electronic and print media like radio and television. Tanishq has selected Indian actress
Deepika Padukone to serve as its brand ambassador because it understands the importance of celebrity
endorsement. She will take part in several commercials to improve brand familiarity. The Hindi movie Race
included a scene from the Tanishq store as part of their marketing plan. The company has produced jewellery for
Hindi movies including Paheli and Jodha Akbar.
4. Brand Expansion
Tata group has expanded the Tanishq brand in many other brand extensions such as Mia by Tanishq, Z and
Caratlane which have been extremely successful. Since Tanishq is known and trusted for “Indian” jewellery, Mia
by Tanishq and Caratlane are known for their contemporary and more “western” designs while Z is known for its
sterling silver jewellery with practical designs for the modern working woman. Both these brand extensions have
been extremely popular and have allowed Tanishq to expect 15-20 per cent consolidated sales growth over the
previous year.
5. Cost Structure
Cost structure or reduced marketing program expenditures thanks to the prevailing customer mindset of Tanishq
is comparatively stronger than most other jewellery brands. As per our primary research, the brand awareness of
this brand is extremely strong and, in many cases, when people talk about jewellery, the first brand that comes to
mind is Tanishq.
However, Tanishq has spent a lot of money on celebrity endorsements and movie marketing to help the brand
sales and it has worked very well. The 3 rd quarter of 2021 has recorded more sales than the pre covid 2019 entire
year for Tanishq.
6. Brand Profitability
All the above factors lead to brand profitability. As we can see that most of the factors are favourable for Tanishq
which is generally a profit-making brand, our secondary research as found that:
In comparison to the same quarter last year (2021), they predict that sales will more than double to Rs 8,700 crore
for the three months ending in September. Titan is likely to report a strong performance in their jewellery unit on
account of a low base thanks to festive demand and stability in gold rates.