tanishq
DESCRIPTION
TRANSCRIPT
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Group 1PragathiSubhaJaideepPreetiGayatriAfsal
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Contents
• Introduction• Marketing mix• Understanding buying behaviour of customers• Customer services offered• Segmentation and Positioning• The turnaround story• SWOT Analysis
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Introduction
• Titan came into existence – July 1984• Jewelry watches and jewelry – 1994• Tanishq – tan (body) , ishq (love)• To change its image -
watch manufactures - fashion accessories manufacturer
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Marketing mix
product
place
price
promotion
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Product
Product variety• Plain gold jewelry, studded gold jewelry,
Platinum jewelry, silverware-product range and solitaires.
• 22K, 18K and 9K pure gold ear rings, bangles, chains, rings, nose pins etc.
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Quality• 1st & the only jeweller-guarentees at the store• Claim and deliver quality• Built trust based on the same• Gold meters- check gold purity• Established as ethical player in the market• Differentiating factor –experience & quality in
store
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Design• Frequent new and unique collections to cater
to variety seeking customers• Full fledged design studio and largest design
team in the country • Each piece is designed by team of award
winning designers• Adjudged the most admired jewelry brand in
2004• Breath taking jewelry- contemporary with
traditional touch
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Place
• Crafted as one of the worlds most modern factories
• Factory complies- labor and environmental standards
• Located at Hosur Tamilnadu• Largest jewelry retailer in India• 131 in 83 cities• Export market
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Pricing
• Products starting from Rs 600 …• Valentines day collections from Rs 2000 …• Attractive offers –up to 25% off• All day Diamonds from Rs 1960 …
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Promotion Mix
• Advertising : Through print media, social media and television
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Emotional appeal
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Celebrity Endorsements
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Collaboration PromotionCorporate Gold Gift Scheme(1998)
• “When you want to say thank you, say it in gold.”
• 1999 – Rs.20 crores worth gold coins to Maruti Udyog Ltd
• 2001 – 5% of turnover and 30 clients• Miniature gold cars – Hyundai Motors
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Publicity• Sponsorships: Bollywood Tie-ups
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Miss India Crowns and ‘Colors of Royalty’ Range
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Tanishq Swarna Sangeetham
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Public Relations
• Customer satisfaction measurement programme with CSMM
• Anuttara – Customer Loyalty Programme
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Sales Promotion
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Understanding buying behaviour of customers
• Till the early 1990s: Investment rather than adornment => 18 kt was not favoured
• Confidence in local jewellers => ignorant• Late 1990s : shift in consumer tastes• Regarded jewelry as an accessory• Customers wanted a wider selection
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First jewelry retailer to focus on experience factor…
• Customization• Exchange policy• Purity checks: Karatmeter• Anuttara• ”
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• Golden Harvest Savings scheme
• Swarna nidhi scheme
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Concept stores – “Revitalizer of Tradition”
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Segmentation & Postioning
• Niche Marketing • Positioned – international brand for Indian elite• Since 1997: Mass marketing
Geographical segmentation Satisfy tastes of all regions Ethnic designs Transpose designs-Bengali in Delhi ….• Psychographic segmentation Lifestyle – Working women
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REPOSITIONING
• Same product and target market• Change in image of product• Product Repositioning :• Product – modified to make it more acceptable to its target
segment to serve the customer needs effectively
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• Intangible repositioning Different market segment with same product Ex- Diamonds starting from Rs15000 onwards• Tangible repositioning• Product and target market changed Move up or down a market Gold plus and Zoya
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Trading up and downGoldplus• Low end customers• Plain gold jewelry + very
less studded jewelry : Diamantine (first time in India)
• Presence in 32 towns spread across 5 states
Zoya• High end customers• Exquisite diamond jewelry• 2 boutiques
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Competitors for Tanishq
• Gitanjali group
• Traditional jewellers
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The Turnaround Story
• Unsuccessful Launch – Unorganised jewelry sector– New concept : 18 kt and contemporary– Family jewellers
• Setting things right– Gone wrong in 2 areas – 1. Product proposition 2. Retailing
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• Westernised to Indian• 18 kt to 22 and 24 kt• Designs from various states and transmigration• Localised promotions• In-house designers designed based on current
trends• Complete freedom to retail outlets to pick up
designs• Karatmeter• Bold step towards professionalizing Indian jewelry
business• Focus on smaller cities• Standard gold price
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• Strong backing of the Titan Industries of the Tata Group and TN Govt.
• Standard gold pricing• Award winning designs • Competitive prices• Caters to all market segments with sub-brands• Has its presence in over 83 Indian cities
SWOT AnalysisStrengths
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Opportunities• Expanding to global markets• 99% of potential Indian gold market
Weakness• Negative perception – Brand was only for
the rich• Strong labour union
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Threats
• Competition from traditional jewellers• Increasing gold price affecting the low end
customers
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Thank You!