Tanishq (sync between Stp and marketing mix)

• Presented By:-

• Rahul Dhandharia(312)

• Rituma Doshi (314)

• Dishant Sidana(357)

• Subhada (363)

• Ankush Jadhav(364)

• Kumar Saurabh(368)

• Mayank Rai(381)

INTRODUCTION

• 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

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

Mass

Premium

Popular

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 collection-G, 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 Product PreferenceCompany Preference

HighInherited

Income/Professionals/Business/ exceptional ability

Branded Designer Jewellery and Diamond

studded jewellery

Tanishq and Geetanjali

Upper Middle

Professionals/Business/career oriented/Executives

Branded jewellery Tanishq

Middle White Collar, EducatedUnbranded jewellery as

well as high quality Artificial jewellery

Local Shops like PP jewellers

Sia Jewellers for Artificial jewellery

Lower Middle

Blue Collar, Skilled Artificial JewelleryNo company preference

Lower Semi Skilled No Need -

TANISHQ IDENTITY CRISIS• Sold to a more westernized audience evoking “Nice but not for me

reaction”

• Underwent several strategic retooling to reach “the traditional but modern Indian woman segment”

• Focused primarily on studded jewelry but grappled with the 18 karat vs. 22 karat issue

• The setting of their stores intimidated the Indian consumers

• They had always positioned themselves as “Jewelry for adornment and not for investment”

• Despite several repositioning attempts the brand was perceived as too expensive and unapproachable

RE-POSITIONING STRATEGY• Daytimes, diamond based collection was launched as affordable,

casual, young and contemporary

• Colors- colored jewellery corrected the impression of Tanishq having only modern designs

• Aarka positioned Tanishq as high fashion 22-karat gold collection

• Aamra, a collection of studded jewellery was an attempt to move Tanishq from being a traditional studded collection inspired by mango motif

• Designed jewellery for the movie Paheli and subsequent incorporation of the themes in TV ads which echoed Paheli theme acted as a springboard for Tanishq

BRAND POSITIONING

BRAND POSITIONING

7Ps of Marketing

MARKETING MIX :PRODUCT

• PRODUCT VARIETY:

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

designerso 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 NAMEo 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 brand’s 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

MARKETING MIX :PRICE

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.

MARKETING MIX :PROMOTION

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

MARKETING MIX :PROMOTION

• 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

PROCESS

PHYSICAL EVIDENCE

Generic Business Level Strategy