Tanishq

Tanishq
INTRODUCTION
Tanishq is the countrys 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
TANISHQ STRATEGIES
Piloted an offering of 22-karat plain gold jewellery with about 400 designs Multimedia campaigns were launched in press and on TV to focus on traditional designs Prevailing under-karatage problems industry wide were countered by installing karat-meter Seven-stone concept helped Tanishq to overcome the perception of it being a Westernized brand
MARKET STRUCTURE
Premium Popular
Mass
SEGMENTATION
Niche Marketing
After its inception in 1995 focus on exports, Tanishq's designs had been conceptualized for the Western markets and were introduced in India without any alterations. Tanishq positioned itself as an international brand for the Indian elite. The brand was targeted at a niche market (However they later on started targeting the mass marketing since 1997).
Psychographic Segmentation
Life Style: Tanishq has found that 40% of the Indian women are working and they targeted this segment with a specific group of products called collectionG, a 9-to-5 jewellery for the working women.
Geographical Segmentation
Titan realized that, given the diverse nature of Indian ethnicity, it would have to satisfy the tastes of all regions. So, the designs became more ethnic. Titan also decided to transpose designs by stocking Bengali designs in Delhi, Keralite designs in Tamil Nadu and typical designs from Tamil Nadu in Bombay in order to appeal to a variety of people.
TARGET MARKET
Class Consumer Profile
Inherited Income/Professionals/Business/ exceptional ability
Product Preference
Branded Designer Jewellery and Diamond studded jewellery
Company Preference
Tanishq and Geetanjali
High
Upper Middle
Professionals/Business/career oriented/Executives
Branded jewellery
Tanishq
Local Shops like PP jewellers Sia Jewellers for Artificial jewellery No company preference -
Middle
White Collar, Educated
Unbranded jewellery as well as high quality Artificial jewellery
Lower Middle Lower
Blue Collar, Skilled Semi Skilled
Artificial Jewellery No Need
BRAND POSITIONING
PROMISE OF PURITY AND A UNIQUE EXPERIENCE Design and retail innovation have been the hallmark of Tanishq all these years. First and only jeweler who guarantees the purity of its gold jewellery and certifies the quality of its diamonds and colored gems in writing.
Trust
It has established itself as a highly ethical player in a market that was rated as having the highest incidence of under karatage (Bureau of Indian Standards). They even have gold meters where one can check the purity of gold.
BRAND POSITIONING
Luxury
Tanishq also has been positioned as a branded jewellery of luxury rather than commodity. It moves jewellery beyond investment to the fashion and adornment sector.
Superior Product
In order to compete with the regional players, Tanishq introduced the concept of consistency in delivering promise. Tanishq is known for its ability to develop specialized design collections. It is the only jeweler that houses a full-fledged design studio with a team of several international award winning Indian designers. Offer a totally new perspective to Jewellery buying especially when it comes to exquisite oriental jewellery.
7Ps of Marketing
MARKETING MIX :PRODUCT

PRODUCT VARIETY:
Based on Tangibility
Tanishq Diamond Tanishq Gold Tanishq Platinum

Based on Experience/Occasion
Tanishq wedding collection Moham Fashion Colors of royalty
MARKETING MIX :PRODUCT

DESIGN:
o Tanishq is known for its ability to develop specialized design collections. o Each piece of jewellery is designed by a team of award winning designers o Designed to suit all forms of attire, western and Indian, casual and formal. o Aria, for seven stone diamond jewellery, Hoopla, focused on diamond studded hoops and Collection-G for lower priced gold jewellery.
BRAND NAME
o Brand name ensures innovation. o Considered equivalent to purity and tradition.
MARKETING MIX :PLACE

Tanishq opened 30 retail stores during FY08, taking the tally to 130 stores. Currently, the average store-size for Tanishq is 1,000-1,500 sq ft. The stores operate on the franchise model. Tanishq retail identity has evolved over the years to offer large format and concept stores that reflect the brands philosophy of being Revitalizer of Tradition. It has opened two pilot stores at Chicago and New Jersey with a retail format of 1,800-2,000 sq ft. The Tanishq retail chain currently includes 112 exclusive boutiques in 75 cities, making it India's first and largest jewellery retail chain.
MARKETING MIX :PRICE

High-value diamond range (with retail price of Rs 2 lakh and above)
Zoya, Tanishqs high-end brand that primarily retails diamond jewellery, is showing a slow build-up. It currently has two stores (in Mumbai and Delhi) with a range of 20-25 Lakh.
High End Pricing
Kundan and Polki range. The range starts from Rs 5 lakh onwards.
Tanishq paheli range starts at Rs.80000 and jodha akbar range at Rs. 1 Lakh.
MARKETING MIX :PRICE

Tanishq range of products start at an accessible low of Rs. 600 and the range - Solo, Aria, Diva, Hoopla, Lightweights, Bandhan and the most recent, Colours - comprises wearable everyday jewellery which has been designed for the urban working woman.
Very large collections of pendants, earrings and fingerings in this price range Rs 2000-5000
Mass Market Pricing
The Tanishq Valentines Day collection includes pendants, earrings and finger rings starting from Rs. 2,000 onwards.
The 'up to 25 per cent' off offer by Tanishq is a unique opportunity. This attractive offer has been introduced to benefit the customers and provide them with the best price and product options
MARKETING MIX :PROMOTION

Concept stores, the first of which, costing Rs 10 crore, opened in Kolkata. The idea of such a store was to harmonize the tradition of the past with the modernity of the present. Titan transposed designs by stocking Bengali designs in Delhi, Keralite designs in Tamil Nadu and typical designs from Tamil Nadu in Bombay in order to appeal to a variety of people. In 1998, it launched the corporate gold gift scheme - 'When you want to say thank you, say it in gold'.
In 1999, Tanishq delivered gold coins worth Rs. 20 crores to Maruti Udyog Ltd., to be given away as gifts to Maruti car owners. By 2001, the scheme accounted for almost 5% of the turnover and over 30 corporate clients like Coca-Cola, the UB Group, Whirlpool, TVS Group, Ceat and Liberty shoes.

Tanishq has also endeavored to be part of every occasion in an Indian womans life through festive promotions, customer contact programmes as well as through Anuttara, Tanishqs exclusive consumer reward programme etc.

Launched Jodhaa Akbar collection and managed to get lot of marketing hype. The collection is very pricey and suggested retail price is between Rs 25,000 to Rs 15 Lakhs.
Kept the entry-level price as low as Rs 600 (for a pendant) and offered a range, which far exceeded that offered by any other jeweler. Initiated a loyalty program called the Golden Harvest Savings Scheme, which offers buyers the benefit of getting more jewellery than what they have paid for. The scheme allows consumers to plan future purchases in advance and pay for them in easy installments. Exchange offer - change impure gold for pure 22 karat gold - attracted more people to the stores.
PEOPLE
Designers & Management trainees from premiere institutes
Performance /Competency linked career growth Path at management and manufacturing level
Karigar Park Karigars work exclusively for Tanishq Provides tools & raw materials Better hygiene and medical facilities
PROCESS
PHYSICAL EVIDENCE
Experience Showcasing Surround effect Speaking effectively Zoya: stores for differential premium segment
Trust They even have gold meters where one can check the purity of gold.
Heritage Architecture inspired by heritage revitalizing traditional Indian Jewellary
Generic Business Level Strategy

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Tanishq

White Collar, Educated

Unbranded jewellery as well as high quality Artificial jewellery

Lower Middle Lower

Blue Collar, Skilled Semi Skilled

Artificial Jewellery No Need

MARKETING MIX :PRODUCT

Tanishq Diamond Tanishq Gold Tanishq Platinum

Tanishq wedding collection Moham Fashion Colors of royalty

MARKETING MIX :PRODUCT

MARKETING MIX :PLACE

MARKETING MIX :PRICE

High End Pricing

MARKETING MIX :PRICE

Mass Market Pricing

MARKETING MIX :PROMOTION

MARKETING MIX :PROMOTION

MARKETING MIX :PROMOTION

Heritage Architecture inspired by heritage revitalizing traditional Indian Jewellary

Generic Business Level Strategy

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