PRE-INDUCTION PROJECT

RIIM- Arihant Group of Institutes

Pre- Induction Project Report- Batch 2021-23

A Project Report on,

“Marketing Strategy Of TANISHQ”

Under the guidance of

Samidha Rathore

Submitted
By:

_____Santanu Modi______
Batch 2021-23
 ACKNOWLEDGEMENT

I SANTANU MODI the student of RIIM-Arihant of M.B.A department am

extremely grateful to prof. Samidha Rathore for entrusting my project
entitled “Marketing Strategy Of TANISHQ” .
At this juncture I feel deeply honoured in expressing my sincere thanks
for making the resources available at right time and providing valuable
insight leading to the successful completion of my project.

Name: Santanu Modi

RIIM-Arihant SR26
 INDEX
SL NO. PARTICULARS PAGE NO.
1 Company profile (Introduction) 1
2 Impact Of COVID-19 2
3 Marketing Upcoming 3
4 Marketing Strategy 4
5 Some of Tanishqs Competitor 5
6 SWOT Analysis 6
7 Conclusion 7
8 References 8
 1
COMPANY PROFILE

Tanishq is India's largest, most desirable and fastest growing jewellery brand in India. Started in
1995, Tanishq is the jewellery business group of Titan Industries Ltd - promoted by the TATA
group, India's most respected and widely diversified business conglomerate. It is located in
Hosur (spicot).
This year marks a decade of successful innings for Tanishq. With retail sales of 1200 crore last
years and gunning for 2000 crores this year, Tanishq has arrived in the Indian jewellery market.
It is a story of a successful Indian enterprise, which has delivered value to its customers and
shareholders in a complex category, marked by its completely localized front end as well as back
end.
Tanishq has set up production and sourcing bases with through research of the jewellery crafts
of India. Jewellery at Tanishq is crafted in one of the world's most modern factories. The factory
complies with all labour and environmental standards. Located at Hosur, Tamil Nadu, the 1,
35,000 sq. ft. factory is equipped with the latest and most modern machinery and equipment.
Every product at Tanishq is painstakingly crafted to perfection. Diligent care and quality
processes ensure that the Tanishq finish is unmatched by any other jeweller in the country.
Tanishq challenged the age-old jeweller's word with TATA's guaranteed purity. It exploded the
market with facts about rampant impurity across India. It introduced technology-backed
challenge in a category completely governed by individual trust. Tanishq introduced innovations
like Karatmeter, the only non destructive means to check the purity of gold.
 Impact of COVID-19 2

After reporting a 56 per cent decline in Q1FY21, the revenue of Tanishq, the jewellery
division of Titan, has recovered to almost 90 per cent of pre-Covid levels, ahead of
consensus.

According to an ICICI Securities note, the likely drivers are rising volumes, mainly due to the
somewhat stable gold prices, and consumer’s acceptance of higher gold prices.

“We are encouraged by the customer response we have got and are very happy with
business recovery. Tier-2 and Tier-3 towns have continued to do better than Tier-1 towns,
even as almost all towns have seen improving recovery trends month on month,” Ajoy
Chawla, CEO of Jewellery Division at Titan told Business Standard.

Overall, July and August saw good recovery, which was closer to 90 per cent, but
September could be a little lower because of the ‘Shradh’ 

 Graph showing yearly revenue of the company :-

 Graph showing yearly profit of the company :-

 Marketing Upcoming 3

The company will be launching a collection for the coming festive season followed by

some new collections for the wedding season. “We are hoping for a good demand
during the festive season, while we expect a stronger wedding season as a lot of
weddings were deferred in Q1. We are positive and looking forward to a healthy third
quarter,”  Ajoy Chawla, CEO of Jewellery Division at Titan told Business Standard.

The Bengaluru-headquartered firm will be adding 30-35 new Tanishq stores in FY21 as

compared to 41 stores in the previous financial year. It will stick to the strategy of
expanding into Central India as the company is seeing sales traction in the region.

Tanishq has introduced a host of virtual features to bounce back to business in the past
few months. Video selling, appointment-based selling, endless aisle and virtual try-ons
are some of the features the company’s technology team has rolled out to enable at-
home buying. It has seen big ticket sales of up to Rs 10 lakhs for wedding purchases in
several cases through these virtual buying features.

CaratLane’s omni-channel-enabled system allows people to browse online and

choose to buy at the store, if need be. They can even opt for other services such
as ‘Try At Home’; ‘LIVE’; WhatsApp channels and pay through UPI, he said.
 Marketing Strategy 4

 Strong Back up: Tanishq is a brand under the Titan Company which is

under the famous and influential Tata Group. The brand was launched in
collaboration with the Government of Tamil Nadu. Thus Tanishq has a
strong backing of not only Tata Group but also the Tamil Nadu
Government which has definitely helped them getting the important
resources to function without any problems. 

 Perfect Mix of Products: Tanishq is mainly known for its exquisite wedding

and diamonds collection. But that is not it. It also has low-priced daily wear
jewellery products which simple but stylish at the same time. This has
given the brand an opportunity to reach each and every class in society
and made them well known to the people of the country. 

 Vast Geographical Presence: Tanishq has more than 150 stores in over

100 cities across India. This is actually a huge feat to achieve as a
jewellery brand. Because customers usually try to feel the jewellery before
buying it. Thus the more the stores of a brand, the more the customers get
access to its products. This widespread presence of Tanishq stores has
definitely helped the brand to achieve more success than its competitors. 

 Awards: Over the years, the brand has won many awards for the quality of
the products, its designs, also in the categories of marketing. These
awards have made them gain enormous reputation which has increased
the trust of the customers in India. Because of this trust, most consumers
go for the products of Tanishq because they are well assured of its quality,
which creates problems for other companies. 

 Promotion: Without excellent promotional activities a brand cannot reach

to the customers as much as possible. Keeping this in mind, Tanishq
actively keeps promoting its products through advertisements on TV and
print ad campaigns. The brand also has a strong Social Media presence,
where it keeps its customers updated about any new products it has
launched or will be launching. During the time of various festivities,
Tanishq provides gifting options which attract the customers more as
festival time is the main shopping time for Indians. 

 Association with Celebrities: Celebrities like Deepika Padukone, Amitabh

Bachchan, Jaya Bachchan, etc are known to every Indian. Tanishq is
associated with them and other famous celebrities. With the support of
celebrities, the brand wants to get closer to the audiences and their
potential customers. This is definitely working and the proof of it is the
ever-increasing customers of Tanishq. 
 5
Some of Tanishqs Competitor

Nakshatra Diamonds- The world renowned Nakshatra diamonds were launched in

2000, with an equally dazzling Aishwarya Rai as its brand ambassador. In the
present scenario Nakshatra diamonds occupy a leading position in the fashion
diamond jewellery segment. The traditional diamond is the most wanted design
among Nakshatra diamonds.

Gili- Gili was launched in 1994, targeting mainly the youth who wanted to
celebrate Valentine's Day. Since then, the brand has clocked a turnover of Rs. 90
crores.

Nirvana Diamonds- Nirvana Diamonds from Fine Jewellery (I) Ltd. was launched in
1987 in India. Nirvana diamonds are targeting at fashion conscious, modern and
independent thinking women. Internationally acclaimed Nirvana diamonds are
manufactured by using state-of-the-art technology. As a proof of their quality
Nirvana was among one of the brands to offer lifetime warranty to its consumers.

D'damas Diamonds- D'damas Diamonds are part of Gitanjali Digico Group and one
of the earliest diamond houses established in India in 1966. On the present day
D'damas Diamonds offer highly modernized diamond cutting and polishing
facilities at five locations in India. D'damas Diamonds claim to promote a range of
emotions through their collection.

Asmi- Asmi, one of the leading diamond brands of the country, was launched, in
2002 by The Diamond Trading Company Ltd, (DTC). The brand has been endorsed
by various celebrities such as Kajol, Mandira Bedi & Perizad. All these women
epitomize the different strengths. An Asmi woman is closely identifies with free-
spirited, goal-oriented & with an inner fire.
 6

SWOT Analysis

Tanishq Strengths:-
1. One of the most trusted jewellery brands in India.
2. Strong backing of the Titan Industries of the Tata Group.
3. Excellent branding and advertising through TVCs and print ad campaigns.
4. Association with celebrities as brand ambassadors to reach out to the customers.
5. Apart from Indian jewellery in wedding and diamond collections, also offers simplistic and low-
priced jewellery for daily wear.
6. Has its presence in over 100 Indian cities.

Tanishq Weaknesses :-
1. Limited global presence as compared to a few other international brands.
2. Tough competition from other jewellery brands means limited scope of growth.

Tanishq Opportunities
1. Global penetration in other countries.
2. Acquisition of smaller businesses to increase brand position and reach.
3. Tie-ups with corporate and business partners.

Tanishq Threats
1. Economic fluctuations mean people decrease their spending.
2. Govt policies, taxes etc also affect the premium jewellery segment.
3. Trends change quickly, hence innovations and R&D are investments.
 7

CONCLUSION

Titan is facing very stiff competition, his competitive has forced. Titan to change its
business model to suit today’s requirement. Titan has diversified itself from watch
manufacturing to create itself a name in fashion accessories. Titan has all its focus on
Customer orientation.
The company has adopted World class manufacturing practices like TQM, TPM, JIT 5S
etc., to have value addition for its products and customers. Titan has now adopted a
lean manufacturing style from the contemporary one. The products that are customer
driven and highly market sensitive. The manufacturing capabilities have been made
flexible to suit the market need.
 8

References

covid impact: https://www.business-standard.com/article/companies/tanishq-revenue-

jumps-to-90-of-pre-covid-levels-on-stable-gold-prices-120092301048_1.html
https://www.thehindubusinessline.com/companies/covid-19-impact-online-jewellery-
sales-gain-traction-in-smaller-towns/article33437605.ece
Wikipedia: https://en.wikipedia.org/wiki/Tanishq
Marketing: https://brandyuva.in/2019/08/marketing-strategies-of-tanishq.html