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.

Presented by:Bikram Prajapati

Introduction Tanishq is a prominent and fastest growing jewellery brand of

India. The company was established in July 1984 as a one of the

world’s largest manufacture of watch movements. Later on in 1995, its rename from titan watches ltd to titan

industries ltd and it is manufacture of fashion accessories based on Bangalore managing by titan

"Tanishq" means "embodiment of love". "Tan" in Sanskrit means to extend or to spread. Hence "to extend love" or "to spread love" are other meanings attributed to the name Tanishq.

Tanishq today is India's most aspirational fine jewelry brand with 91 stores in 64 cities, with an exquisite range of gold jewelry studded with diamonds or colored gems and a wide range of equally spectacular jewelry in 22Kt pure gold

Mission:

We will do this through a pioneering spirit and a caring, value-driven culture that fosters innovation, drives performance and ensures the highest global standards in everything we do

Driven by innovation and creativity, focus on smarter approaches and newer technologiesJewellery is one of the last great commodity frontier in india; it has remained so because this market is very fragmented , very unorganized. Tanishq has successfully taken on the challenging of transforming this frontier into reliable consumer space by bringing to it all the virtues and benefits that branding offers”- Harish Bhat, CEO, Tanishq.

Gems and jewellary industry in India

The industry is growing faster and the concept of wearing jewellary are changing India jewellary market is still large extent unorganized with a few recognized

internationally brand. Most of market share are covering by traditionally jewellarys tore: family jewellary

shop The market has been increased through 20 – 30% during 1997 -2000. It has estimated that 2.50,000 retailers with no national or internnationl brand

name. High opportunity for ethical player and can able to capture substainstial market

share By 2001 Tanishq was largest overseas chain store in us with 1200 outlets by

contributing 10%mof company turnover The cumulative foreign direct investment (FDI) inflows in diamond and gold

ornaments in the period April 2000-September 2014 were US$ 453.41 million India's gems and jewellery industry had a market size of Rs 251,000 crore (US$

40.58 billion) in 2013

Company positioning Tanishq wanted to be different by offering jewellary in the

18-carat gold range with contemporary European design. The design are heavily borrowed from European market,

that is not acceptable in India local market. The proposition of tanishq is far ahead then Indian

consumer perception. They wanted to be different without understanding the

current market situation and consumer buying behavior. At that time the concept of branded jewellary did not exist They try to positioning as adornment ,fashionable, pleasure

personality , fun, luxury, new design rather than investment, which is not accepted early in Indian market

They offered same line of jewellary as compare to local jewellary retail store, so people are not more experiencing to tanishq

where did company gone wrong. Once a time , tanishq was losing its proposition and its

because of lagging in strategy in product proposition and retailing company makes losses in 1995 – 1998.

India consumers preference for buying jewellary only from family jewellarys.

Jewellary are made often by order and it can be replaced according to market rates.

The value propositioning are not meet in local market as in early there is no jewellary made targeted to local people.

Design are just borrowed which is success in western and but tanishq not able to vary the product line up according to market.

According to the positioning the distribution channel are not well selected, they tried to sell products through multiband stores

Brand repositioning As through brand audit they found out that where the

problem is. After figuring they repositioning the brand, changing the

perception of jewellary from an asset to a fashion accessory was extremely difficult to bring about.

They make adjustment in product portfolio, in quality, in retail strategy, in pricing strategy in order to establish jewlleary as fashionable wearing.

They repositioning their brand strategy that is suited to local culture.

They changed brand positioning from that westernized design to Indian one and focused on ethnic ones and traditional ornaments.

excellence for others to follow

Brand repositioning Positioning brand differently in different

market and design are changed to update their brand equity in every quarter.

Positioning as a freshness, luxury, trust, purity, love, custom made jewlellary with having standard price in all around the country.

It has created a revolution in the Indian jewellery trade and in jewellery buying behavior, and continues to set new parameters of excellence for others to follow.

They more focused on quality and design rather than price

Targeting: Tanishq product range are targeted from middle class

to premium class. Most of the product are targeted to working women,

marriage women Currently they are targeting to teenagers too through

new MIA product Targeted to different ethic group. Targeted to various occasion, festival and culture like

wedding , birthday, durga puja in western bangal, Diwali in north India.

Segmentation: The Indian market was witnessing an accelerated shift from

viewing jewellery as an investment to regarding it as aesthetically appealing ornaments. The focus had shifted from content to design

The younger generation was looking at trendy, contemporary jewellery and clearly avoiding  heavy traditional jewellery

The Indian consumer was willing to experiment with new designs.

The jewlleary is for showing the personality, and its an adornment.

Tanishq has been able to change the concept of having jewellary.

Demographic segmentation: The most of the jewellary are targeted to women: especially

married women The collection of variety jewellary targeted to variety age

group They targeted to different ethnic group. Tanishq targets the mid-premium segment in retail of

jewellery businessPsychographic Changing the perception from western design to local made

design, customization Who wants to show their culture, lifestyle. Those who wants to gifted the quality superior product Those who believe ornament as fashion accessories Those who wants to wear luxury goods.

Behavior: Who likes to attend more party , festival,

outdoor lover. Vibrant extraordinary, contemporary as well

as traditional lover through customization according to order.

Geographic:Generally it is available in most of the urban cities.Have their own retail store in 37 cities

Competitor:

Defining points of parity and points of difference.Points of parity: Offering same style of traditional jewellary. Custom made jewlleary. Stated grade of gold.

Points of difference: Tanshiq diamonds are come with the certificate of authenticity, stating the cut, carat, color

and clarity of stone, to enable to know what exactly customer are paying for. Huge collection of western design. Customization according to place, ethnic group In house designer who design the jewelleary based on trends. Introducing karat meters in its retail to define superior quality. Have own branded retail stores. Standardizing in pricing In house manufacture 100% return guaranteed

Brand element

Name: Tanishq ( means spreading love)Logo and symbol: Slogan : 'Pure Jewellery. Pure Joy',

Marketing mix:Depending upon target market.Determine what the target consumer desires.Assess whether have any advantages over competition in delivering the desired service.Choosing the position that is most valued by the consumerWhen tanshiq launched the jewellary Indian jewellary market are more scatter and unorganized.There are more untapped area and by varying various marketing mix, tanishq able to capture those market and become one of the leading jewellary company.

product Tanishq diamonds: Tanishq diamonds come with a certificate of

authenticity, stating the caratage, colour and clarity of the stone, to enable you to know exactly what you are paying for

Tanshiq gold: Mangal sutra,thalis, fashionable earing and so much item made b gold are major product

Tanshiq platinium: Pure Platinum's purity endows it with a brilliant white luster. And it is 95 % pure

Offered 18 , 22 and 24 carat gold Tanishq collections : The diamond collection The wedding

collection The zoya collection The fashion earring collection The kundan and polki collection The colors of Royalty collection The moham collection The Aria collection

Price:  Tanishq being a brand name of TATA, maintain a

standard price for all of their products.  They eliminate variation in pricing in their different

location. They tied up with exchange rate and varies

according to it. It result often lower price than competitor for high

quality product. The entry level price is Rs 600 and offered wide

range of pricing

Place: Tanshiq decided to change their retail strategy in India  Titan also decided to do away with the shop-in-shop formats

and started retailing its jewellery through exclusive Tanishq outlets from 1998

By July 2001 it had 47 tanshiq boutiques in 37 cities The turnover is high in the emerging cities and small cities. Have own ultra modern and large scale manufacturing thus in

house manufacturing able tanshiq to make design becomes 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.

Promotion:In order to promote the product they often does: TV advertisement Print advertisement Bollywood ties up: paheli and jodha akbhar Celebrity endorsement:

Amitabh and Jaya Bachchan have been roped in as brand ambassadors for Tanishq, Tata’s jewellery brand .

New Brand Ambassador for TANISHQ is Kangana Raut.

Miss earth, Miss universal and miss world are most precious tanshiq crown specially made for those events

100% return policy in tanshiq jewelry Promotion strategy done in two segment:

internationally or specially target to each segment : promotional cost for 2000-01 is 100 million

Develop a long term plan with media The communication focuses on design and quality

rather than pricing “ gold gift scheme” when you want to say thank u

say it in gold Various discount offer in selected product. More focused on tailored made jewellary Anuttara program to design loyal customer

Brand audit The critical success factors in the business were quality, fashionable design, and good after-

sales service. Titan also observed that the changing lifestyles demanded lighter and trendier jewellery.

Using exclusive distribution channel and they are investing huge in promotional activities, hence they using pull strategy

Tanshiq launched a direct consumer contact program and conducted surveys to monitor store walks ins and footfalls and percentage of conversion rate.

Customer satisfaction measurement management gives an information about current position of brand in the market.

They done survey in quarterly bases and update their design according to result. Customer satisfaction and repeated purchasing is analyzed and setup the benchmarking. The quality of jewellery is measured by modern technology called karat meters. Primary research are done and competitor action are closely analyzed Surveying on 2001 it shoes 50% of tanishq consumer are loyal and they break up long term

relationship with traditional jewlellary

Future prospects: There is so much untapped jewllery market in India and there are huge

unorganized store. Tanshiq share was not even in 1% and but revenue generated are huge.

They are targeting 2% growth in next few years. A consumer oriented highly ethical corporate player will have great

opportunity in market and tanshiq try to capture those market segment through inducting quality control mechanism.

Tanshiq trying to establish retail management system and information management system so that they can get accurate data through customer and their own store.

They plan to set up intranet; that contain huge collection of design from customer can select the existing design or they can able to order new design

They setting up new channel of communication such that they can place through internets. The ordered jewellery can transfer through nearer store

Planning to tied up with countrywide finance o provide credit in specific outlets.

Conclusion Tanishq has built itself a reputation of bringing innovative

designs that suit the needs of "the ever-changing never-changing" Indian woman. At Tanishq its not just the products, it’s the experience that matters. The contemporary styling has been brought to life with sensuous

curves, balance, rhythm and symmetry of classic Indian motifs in an unconventional synthesis. These beautiful and vibrant gemstones in different shapes, sizes and colors are prinked amongst diamonds.

In order to growth in growing market: Tanshiq changed their product propositioning and retailing strategy

Offered high quality, latest design that relating with luxury and love. Established own corporate retails to give an amazing experience Tanshiq able to change of perception of consumer as from jewellery is investment to

fashion aceessory. Hence because of the quality conrrol mechanism, standardizing pricing, various option

available and improving various strategy , today Tanshiq able to become one of the leading branded jewellery company