BRANDED VS NON BRANDED JEWELLERY by yeatesh

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<ul><li><p>Yeatesh 13PBA021</p></li><li><p>Overview </p><p>The abolition of the Gold Control Act in 1992, allowed large export houses to import gold freely.In 1993, gold and diamond mining were opened up for private investors foreign investors were allowed to own half the equity in mining venturesIn 1997, overseas banks and bullion suppliers were also allowed to import gold into IndiaThis allowed the entry of foreign players like DeBeers,Tiffany and Cartiers into the Indian market.</p></li><li><p>MAJOR PLAYERS IN THE MARKETGILI:</p><p>In 1994, Gili Jewellery was established as a distinct brand by Gitanjali JewelsOffered a wide range of 18-carat plain gold and diamond-studded jewelleryWith sales of Rs.0.14 billion for the year 2007-08, Gili had a 0.03 percent share of the 400 billion jewellery market in India and a 1.4 percent share of the branded jewellery market. Opened a jewellery salon, Gianti, to provide customised jewellery to clients.</p></li><li><p>MAJOR PLAYERS IN THE MARKETTANISHQ: In 1995, Titan changed its name from 'Titan Watches Ltd.' to 'Titan Industries Ltd.In the same year, it also started its jewellery division under the Tanishq brand.Tanishq is considered to be a trendsetter. Tanishq began with 18-carat jewellery.It expanded to include 22 and 24-carat ornaments as well1998, Tanishq decided to set up its own chain of retail showroomsBy 2002, Tanishq retailed its jewellery through 53 exclusive stores across 41 citiesTanishq had a 0.66 percent share of the total jewellery market in 2007-08 and a 27 percent share of the branded jewellery market </p></li><li><p>MAJOR PLAYERS IN THE MARKETCARBON:</p><p>In 1996, within the fold a new brand of 18-carat gold-based jewellery called Carbon was launched.In 2002-03, with sales of Rs. 0.14 billion, carbon had a 0.03 percent share of the jewellery market and a 1.4 percent share of the branded jewellery market. It started exporting in the year 2008.The brand is available in 23 cities countrywide.</p></li><li><p>MAJOR PLAYERS IN THE MARKETOYZTERBAY: </p><p>Founded by Vasant Nangia and his team in July 2000Oyzterbay seeks to build a national brand in the jewellery industry in IndiaWith sales of Rs. 0.17 billion in 2003-0, Oyzterbay had a 0.04 percent share of the Rs.400 billion jewellery market and a 1.7 percent share of the branded jewellery market.</p></li><li><p>WHAT LED TO PROLIFERATION OF BRANDED JEWELLERY PLAYERS??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 gold jewellery.The consumer wanted a wider selection at a single convenient location and expected an international shopping experience.The Indian consumer was willing to experiment with new designs.</p></li><li><p>STRATEGIES FOR WOOING CUSTOMERS</p><p>TANISHQ Tanishq worked hard on a two-pronged brand-building strategy:cultivate trust by educating customers about the unethical practices in the business and change the perception of jewellery as a high-priced purchaseOne way to create differentiation was through design Tanishq decided to focus on quality control:it introduced caratmeters which showed the purity of goldIn November 2002, Tanishq introduced a new collection of jewellery called 'Lightweights.It also focused on small town markets.</p></li><li><p>STRATEGIES FOR WOOING CUSTOMERS</p><p>CARBON:</p><p>Always focused on moving jewellery from the vault to the dressing table It sold its products as gift items over the internetLike Tanishq it also laid emphasis on designIn 2002, Carbon launched its 'Sun Sign' collection, based on the symbols of the Zodiac</p></li><li><p>STRATEGIES FOR WOOING CUSTOMERS</p><p>OYZTERBAY: Jewellery for the Living:The initial focus - to give a lifestyle value to jewellery instead of the traditional investment valueEmphasized on marketing and advertising strategies to give the necessary thrust for growth Oyzterbay launched media campaignsThe new campaign focused on positioning Oyzterbay as jewellery for office wear, evening wear or even a fitness sessionThey offered exclusive products to clients by refurbishing its collection every few months, keeping in mind international trends</p></li><li><p>STRATEGIES FOR WOOING CUSTOMERS</p><p>GILI:The company's products were made available through a mail-order catalogueAll Gili products came with a guarantee of diamond and gold quality.In 2000, Gili launched its 'diamond heart collection' targeted at teenagers and priced between Rs 500 and Rs.2500The collection was promoted at college campuses Special packaging, catchy advertising and extensive press coverage contributed to the success of the collection</p></li><li><p>CONCLUSIONS</p><p>Branded jewellery players will continue to face lot of competition from local jewellers.Besides the major brands several regional players have opened branches to leverage the trust and reputation that they have built up over the yearsMost of the branded jewellery players in India focused on yellow goldFew of them experimented with the pink and white forms of gold. Some of the players also used diamonds and platinum, which appear to have a good future in the Indian jewellery market. </p></li><li><p>THANK YOU</p></li></ul>