Submitted By

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‡ Simayan Pati ‡ Rupam Gohain ‡ Pulkit Thakral ‡ Shilpi Kanstiya ‡ Shruti Agnihotry ‡ Shikha Sinha

Evolution of Tanishq
‡ Titan came into existence in July 1984. ‡ The name Tanishq, a blend of two words, 'tan' (body) and 'ishq' (love), was coined by Xerxes Desai, the Vice-Chairman and Managing Director of Titan. ‡ It set up its fully integrated Rs. 400 million-jewellery plant in Hosur. ‡ The plant had the capacity to manufacture four tones of gold in a year. ‡ Titan launched these products under the brand name of Tanishq, in 1995.

Introduction
‡ India's most respected and widely diversified business conglomerate. ‡ 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. ‡ Tanishq also introduced professional retailing in the disorganised Indian jewelry bazaar. ‡ It has over 91 showrooms in 64 cities.

Product Line
‡ Tanishq Diamonds ‡ Tanishq Gold ‡ Tanishq Platinum 
Pure  Rare  Eternal

The Collections

The Diamond Collection

The Wedding Collection The Fashion Earring Collection

The Zoya Collection

4 P·s of Marketing
‡ PRODUCT 
PRODUCT VARIETY  QUALITY  DESIGN  BRAND NAME  SERVICES

Ansoff·s Model
‡ Market Penetration (Present product-present market)
1. Currently Market Share of Tanishq is 2.9%.So Tanishq has a scope for increasing its market share. Provide EMI by tying up with banks. Find new applications to current users: Increasing the versatility of the product in terms of usage. For example, provision for using pendant as ear-rings, finger rings and vice versa.

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‡ Market Development (Present Product- New Market)
Expand geographically: Opening new outlets in new cities and increasing the number of outlets in the existing cities.

‡ Diversification (New Product- New market)
Related: Gold and diamond studded buckles in belts and footwear.

Marketing Strategy
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Critical Success Factors for huge untapped market for branded jewellery in India. Quality Fashionable design Good after-sales service Changing lifestyles demanded lighter and trendier jewellery.

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Problems Faced:
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Well known domestic players included Tribhovandas Bhimji Zaveri, Mehrason's and P. C. Chandra.Gitanjali & Other Foreign Players as competitors. Tanishq's designs had been conceptualized for the Western markets and were introduced in India without any alterations. 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.

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Initiatives Taken:
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Titan decided to change its strategy on two fronts: Value proposition Retailing Transpose designs Corporate gold gift scheme - 'When you want to say thank you, say it in gold'. Introduction of ´Lightweightsµ 



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Strategies for Wooing Customers
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The emphasis was given on design any pattern according to the customer's specifications. For this, Tanishq set up a seven member in-house design team and also outsourced designs from freelance designers. Feedbacks were taken on Tanishq's designs and learn about customer preferences. To stay ahead of competition Tanishq introduced Karatmeters to focus on quality control

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Future Planning
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The Tanishq strategy for the coming couple of years relies on two things : Increasing penetration in the domestic markets Going abroad in order to diversify its revenue portfolio  

Brand Ratings in India

Brands Purchased Last Year

Value Added Services
‡ Golden Harvest Saving Scheme ‡ Exchange Policy in Tanishq ‡ Gift Vouchers ‡ Purity Checks ‡ Anuttara

S.W.O.T Analysis
STRENGTH Purity (karat meter) Distribution network and retailing store Award winning designs Diversity in jewellery gold/diamond/platinum Competitive prices OPPORTUNITIES Global markets Low cost jewellery Customized jewellery designs Concentrate on Gen-X by having trendy jewellery Expand retail stores

WEAKNESS Capture Rs 70,000-crore Escalated gold costs lower margins

THREATS Competition Lack of Skilled workers Gold not seen as a source of investment. (Luxury is needed)

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