...Marketing Strategies used by Tanishq Executive Summary An Indian Brand, which can make big in the global market, is Tanishq from Tata Group of Industries. Tanishq is India’s largest, most desirable and fastest growing jewellery brand in India. Tanishq today is India’s most aspiration fine jewellery brand with an exquisite range of gold jewellery studded with diamonds or colored gems and a wide range of equally spectacular jewellery in 22Kt pure gold. Exquisite platinum jewellery and designer silverware is also part of the product range. Though they faced with many difficulty in the early stages they for about six years they then came with up with good strategies The Tanishq strategy for the coming couple of years relies on two things —increasing penetration in the domestic markets and going abroad in order to diversify its revenue portfolio. To push penetration in other markets, Tanishq will use the ‘shop-in-shop’ concept that it already does in 50 stores across different West Asian market. “This reduces distribution costs. Also, for the consumer it remains a Tanishq store and helps us get a foot into the market. Their main core competency is in designing a wide range of products. They were the first to come up with the idea of karat meter, which proves the quality of the gold, to win the trust of the customer. Introduction The Tanishq saga began in the early...
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...Tanishq From Wikipedia, the free encyclopedia Jump to: navigation, search This article or section reads like an advertisement. To meet Wikipedia's quality standards and comply with Wikipedia's neutral point of view policy, it may require cleanup. Tanishq Type Subsidiary of Titan Industries Ltd Industry Jewellers Founded 1994 Headquarters Bengaluru (Bangalore), Karnataka Website Tanishq official website Tanishq (Hindi: तनिष्क़) is a prominent jewellery brand of India. It pioneered the concept of branded jewellery and ornaments in India. It is a division of Titan Company Limited,[1] a company promoted by the Tata Group, one of India's largest conglomerates, in collaboration with the Tamil Nadu Industrial Development Corporation (TIDCO). The name was formed by combining the first two letters from Tata and नष्क "NISHK" (meaning gold coin or necklace in Sanskrit), although the क k has been modified into a क़ q.[2][citation needed]. Tanishq's headquarters is at Bengaluru (Bangalore) in Karnataka.[3][4] Overview[edit] Sridevi, Brand ambassador of Tanishq at photo shoot for Tanishq in April 2013 Tanishq started in 1994 and challenged the established family jeweller system prevalent in India. They have set up production and sourcing bases with thorough research of the jewellery crafts of India. Their factory located at Hosur, Tamil Nadu (India) spreads over 135,000 sq ft (12,500 m2). Tanishq was launched as a range of jewellery and jewellery watches...
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...TANISHQ Tanishq is the leading, prominent jewellery brand in India. It is the largest, most desirable and fastest growing jewellery brand. It pioneered the concept of branded jewellery in India. Being a division of Titan Industries Limited, a company promoted by TATA group, it is one of India’s largest conglomerates. The name was formed by combining ‘Tata’ and ‘Nishk’ (meaning necklace). Another combination is ‘Tan’ (body) and ‘Ishq’ (love). Located at Hosur, Tamil Nadu, the 135,000 sq. ft. factory is equipped with the latest and most modern machinery and equipment. Tanishq has an exquisite range of gold, gems and diamond jewellery system prevalent in the country. It has set up production and sourcing bases with thorough research of the jewellery crafts in India. It introduced innovations like karat-meter, the only non-destructive means to check the purity of gold. It also introduced professional retailing in the un-organized jewellery bazaar, where women can shop with comfort and peace, without worrying about the purity of the jewellery they are buying. It has successfully taken up the challenge of transforming this frontier into a reliable consumer space by bringing to it all the virtues and benefits that branding offers. HISTORY: The Tanishq saga began in the early 1990s, primarily fuelled by the fabled TATA entrepreneurial spirit and partly forced by circumstance. The splendid Titan watches success story was already up and running, and happened to need more foreign...
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...Brand: Tanishq Sub Product Brand: Mia Product Target Segment: The growing, affluent and lifestyle conscious segment of women who use branded jewelry in their daily life. Why this segment?? * Women are increasingly the decision makers for their purchases of gold jewelry * Jewelry collection for everyday use, if high on design quotient, light in weight and affordably priced can attract the working women Driving Reason for new product: * Purchase power of the middle class was growing. * The five million working women whose purchasing power was an important part of the India’s growth story. * Women, engaged in different professions, complete with well-designed accessory ensemble did not have a choice of fine jewelry designed for daily wear. Issues Decide on * Product mix * Positioning * Branding * Communication Strategy * Can Mia Cannibalize Tanishq’s own product for special occasions like marriage, anniversary etc (product for one time purchase) Brief Tanishq is the first and most prominent jewelry brand of the jewellery division of Titan industries ltd, a company promoted by Tata group and has origin in 1994 when it started to export the jewelry to earn the mech needed foreign exchange. This brand was specially created for the female segment. However later with the adverse developments in the world economy and growing of Indian economy, the focus is changed from exports to Indian market itself majorly. Tanishq Strategy...
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...Tanishq – The Turnaround Story "When we started out we didn't think that we could achieve this, but now being jewellers to the nation doesn't seem so distant." - Tanishq COO, Vasant Nangia, in March 2000. The Unsuccessful Launch In 1995, Titan Industries, India's leading manufacturer of watches, launched the Tanishq range of gold watches and jewellery. Till then, the Indian jewellery market was to a large extent unorganized, with a few recognized names such as Tribhovandas Bhimji Jhaveri and Mehrason's. Tanishq, an entirely new concept in the Indian market, thus had to struggle hard to be accepted by the customers. Industry watchers were extremely skeptical of Tanishq and doubts were being cast over its prospects. Tanishq began by offering jewellery in the 18-carat gold range, with designs borrowed heavily from contemporary European brands. The company justified its decision saying that it wanted to be 'different' from the traditional Indian offerings. Tanishq performed very badly in the next three years, posting a huge loss in 1997-98, proving its detractors right. Jacob Kurian, Tanishq's chief operating officer admitted, "Tanishq, as a concept, was far too ahead of its times." Even if one agreed with Kurian, it could not be denied that Tanishq did commit mistakes. Analysts decreed that the company's strategies were wary. At this point, Tanishq took various steps to correct the mistakes it had committed and very soon, posted its first ever operating profit in 1999. In...
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...|Tanishq: Positioning to capture Indian Women’s Heart | |A Case Analysis | |Submitted By: Amit Goel | | | |Word Count '' 1724 words | Industry Overview: i. India is the largest consumer of gold in the world to be followed by China and Japan. India is emerging as world's largest trading centre of this commodity with a target of US$ 16 bn. set for 2010. ii. Placed against targets to achieve 65 percent of the international market by 2010, India’s gem and jewellery industry has registered an impressive 21.33 percent growth in exports iii. India dominates the world’s cut and polished diamonds (CPD) market. In value terms, the country accounts for approximately 55 percent of global polished diamond market and nearly 9 percent of the jewellery market. According to GJEPC's provisional estimate, cut and polished diamonds registered 19.06 percent growth in exports at US$ 7.11 mn. iv. India accounts for 80-85 per cent of the world’s CPD market in volume terms, 55-60 per cent in value terms and about 90 per cent in unit terms. Other major players in the global CPD market are Belgium and Israel. v. Surat contributes 90 percent of India's total diamonds exports. vi. India's domestic branded jewellery market is estimated at US $150 bn. vii. There are 13 bullion importing banks in India. viii. India's...
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...the organization that brought about a paradigm shift in the Indian watch market when it introduced its futuristic quartz technology, complemented by international styling. With India's two most recognized and loved brands Titan and Tanishq to its credit, Titan Industries is the fifth largest integrated watch manufacturer in the world. The success story began in 1984 with a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation. Presenting Titan quartz watches that sported an international look, Titan Industries transformed the Indian watch market. After Sonata, a value brand of functionally styled watches at affordable prices, Titan Industries reached out to the youth segment with Fastrack, its third brand, trendy and chic. The company has sold over 135million watches world over and manufactures 13 million watches every year. With a license for premium fashion watches of global brands, Titan Industries repeated its pioneering act and brought international brands into Indian market. Tommy Hilfiger and FCUK as well as the Swiss made watch Xylys owe their presence in Indian market to Titan Industries. Entering the largely fragmented Indian jewellery market with no known brands in 1995, Titan Industries launched Tanishq, India's most trusted and fastest growing jewellery brand. Gold Plus, the later addition, focuses on the preferences of semi-urban and rural India. Completing the jewellery portfolio is Zoya, the latest retail chain in the luxury...
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...the organization that brought about a paradigm shift in the Indian watch market when it introduced its futuristic quartz technology, complemented by international styling. With India's two most recognized and loved brands Titan and Tanishq to its credit, Titan Industries is the fifth largest integrated watch manufacturer in the world. The success story began in 1984 with a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation. Presenting Titan quartz watches that sported an international look, Titan Industries transformed the Indian watch market. After Sonata, a value brand of functionally styled watches at affordable prices, Titan Industries reached out to the youth segment with Fastrack, its third brand, trendy and chic. The company has sold 135million watches world over and manufactures 13 million watches every year. With a license for premium fashion watches of global brands, Titan Industries repeated its pioneering act and brought international brands into Indian market. Tommy Hilfiger and FCUK as well as the Swiss made watch – Xylys owe their presence in Indian market to Titan Industries. Entering the largely fragmented Indian jewellery market with no known brands in 1995, Titan Industries launched Tanishq, India’s most trusted and fastest growing jewellery brand. Gold Plus, the later addition, focuses on the preferences of semi-urban and rural India. Completing the jewellery portfolio is Zoya, the latest retail chain in the luxury segment...
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...Titan Industries Limited “Delivering value by creating Brands” May 2013 TITAN Disclaimer Certain statements are included in this release which contain words or phrases such as “will,” “aim,” “will likely result,” “believe,” “expect,” “will continue,” “anticipate,” “estimate,” “intend,” “plan,” “contemplate,” “seek to,” “future,” “objective,” “goal,” “project,” “should,” “will pursue” and similar expressions or variations of these expressions that are “forward-looking statements.” Actual results may differ materially from those suggested by the forward-looking statements due to certain risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to implement our strategy successfully, the market acceptance of and demand for our products, our growth and expansion, the adequacy of our allowance for credit to franchisees, dealers and distributors, technological changes, volatility in income, cash flow projections and our exposure to market and operational risks. By their nature, certain of the market risk disclosures are only estimates and could be materially different from what may actually occur in the future. As a result, actual future gains, losses or impact on net income could materially differ from those that have been estimated. In addition, other factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this document include, but are not limited to:...
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...TANISHQ: A SPARKLING JOURNEY The Tanishq saga began in the early 1990’s, primarily fuelled by the fabled Tata entrepreneurial spirit and partly forced by circumstance. The splendid Titan watches success story was already up and running, and happened to need more foreign exchange to purchase the imported components and machines required to keep up with the burgeoning watch production. But with India going through a foreign exchange crisis, there was no help coming in, forcing Titan to search for a business that would earn them the required foreign currency. The first precision engineered watch, Tanishq created with 103 diamonds and pure 18 carat gold. Indian-made jewellery was already a big foreign currency earner and being strongly supported by the central government, and also happened to be a very good fit with the watch business as articles of adornment.The best known brand names in both Europe and America had watches and jewellery together, offering further proof that the two industries are intrinsically linked. It was a business with a huge wealth potential and it added a very feminine offering to Tata’s long line of products that appealed mostly to the opposite gender. It also called for an organization that inspired trust and had high order design, manufacturing, marketing and retailing skills, and Tata fit the bill on all accounts. A revolution in Gold Purity Standards across the country. Tanishq was coined from a combination of Tata/Tamil Nadu and Nishq...
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...behaviour. Also decide the target group on whom the questionnaire can be executed. Section II Write short notes - Do any three 1. Gap Analysis 2. Requirement of a Good Report 3. Non-Probability Sampling 4. Attitude Measurement 5. Environmental analysis 6. Distribution strategy Section III Read the caselet carefully and answer the following questions: 1. Discuss the various bases or criteria for segmenting consumer markets. Explain Tanishq’s segmentation and positioning strategy. 2. What are Tanishq’s key brand values or brand strengths? Explain. 3. What are the strength and weakness of Tanisq The market for jewellery in India is second only to that for foods and the trade is built around so-called family jewelers. Tanishq belongs to the House of Tata and, true to the group's policy it aims at bringing in credibility and professionalism to the jewellery industry. India's jewellery market is estimated to be worth Rs. 400 billion a year and the share of the organised sector -jewellery stores and brands...
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...Que 1. Your company is considering whether it should tender for two contracts (MS1 and MS2) on offer from a government department for the supply of certain components. The company has three options: tender for MS1 only; or tender for MS2 only; or tender for both MS1 and MS2. If tenders are to be submitted the company will incur additional costs. These costs will have to be entirely recouped from the contract price. The risk, of course, is that if a tender is unsuccessful the company will have made a loss. The cost of tendering for contract MS1 only is £50,000. The component supply cost if the tender is successful would be £18,000. The cost of tendering for contract MS2 only is £14,000. The component supply cost if the tender is successful would be £12,000. The cost of tendering for both contract MS1 and contract MS2 is £55,000. The component supply cost if the tender is successful would be £24,000. For each contract, possible tender prices have been determined. In addition, subjective assessments have been made of the probability of getting the contract with a particular tender price as shown below. Note here that the company can only submit one tender and cannot, for example, submit two tenders (at different prices) for the same contract. Option Possible MS1 only MS2 only MS1 and MS2 Probability tender of getting prices (£) contract 130,000 0.20 115,000 0.85 70,000 0.15 65,000 0.80 60,000 0.95 190,000 0.05 140,000 0...
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...INDEX SR.NO. CONTENTS 1 Introduction 2 Market Research 3 Market Research For Business Planning & Growth 4 Tanishq – An Introduction 5 Locating Tanishq 6 Product Line & The Collections 7 Tanishq For You 8 Tanishq Retailing 9 Marketing 10 Tanishq Marketing Strategy 11 The Jewellery Market 12 Some of Tanishqs Competitors 13 Tanishq – Market Research 14 Tanishq – The Turnaround Story 15 Promotion, Advertising & Public Relation 16 Tanishq In The News 17 Globalization INTRODUCTION As we see it, research in advertising and marketing is very crucial in understanding, speculating on, and ultimately determining the position of the product in the consumer's mind. It is like a homework task that a good advertising/marketing/sales person would always carry out before (and after) implementing the said product's advertising/marketing strategy. By collecting data with the help of research methods, the researcher can manage to understand the consumer, what he wants, when he wants it, and how he wants it. Research methodologies, more or less, aim to reveal consumers’ different perceptions of the product, in large part about the way it is advertised. The researcher wants to know how effective the advertisement is on his listeners, where the strategy falls short, and where it can improve. Ultimately, it can be said that the most important task of advertising/marketing research is to increase the sales of the product. This requires a well developed...
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...CASE STUDY SUMMARY. Name of Organization: Tanishq Market Segmentation is a term of Marketing theory which simply implies grouping or aggregation of the entire consumer base consisting of existing and potential buyers into groups. Segments of unique sub groups of people with common tastes and preferences within a larger customer population is identified. This aggregation is done on the basis of some defined criteria. By doing so a company can develop different products that would cater to different needs of different consumers in a better manner. Company can target different categories of consumers who perceive a particular product offering differently from other groups within the categorised market by fine tuning the products to meet the needs of the differentiated consumers. Not only can the company provide more value, it also benefits by having a better understanding about the minds of different consumers and accordingly can design and develop promotional campaigns that would be tailored to match the preferences of the different consumers, thus having a greater impact. A well planned marketing strategy would undoubtedly aim at identifying the needs of the consumers before the competition can and satisfying them better that the competition but it is not possible to satisfy all customers by treating them alike hence segmentation becomes necessary. It is essential to learn each segments commonalities demands and attributes. What makes them different from the other target consumers...
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...CASE SUMMARY: * Tanishq is the country’s only truly national jeweler * Targeted a more Western consumer evoking a “Nice, but not for me” reaction * Opened its first boutique in Chennai in 1995 as a precedence to tap the South market * Boutiques were spacious, intimidating , exclusive with limited inventory on display * In Feb 1996 launched its first 18-carat range of exclusively designed gem-set jewelry STRATEGIES: * Piloted an offering of 22-karat plain gold jewelry with about 400 designs * Multimedia campaigns were launched in press and on TV to focus on traditional designs * Prevailing under-karat age problems industry wide were countered by installing karat-meter * Seven-stone concept helped Tanishq to overcome the perception of it being a Westernized brand SEGMENTATION: Proper segmentation is necessary for any company. Tanishq’s designs were not for Indian women. It position itself as international brand for Indian elite market. However they later on started targeting the mass marketing since 1997. After research Tanishq found that 40% of the women are working and they targeted this segment with a specific group of product called collection jewelry for the working women. After reseach and innovation designs became more authentic. Titan also decided to transpose design by stocking Bengali design in Delhi. TARGETING: The main class was High class and upper middle class; it was branded and special diamond studded jewelry. Then it also...
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