INTRODUCTION
Tanishq is India’s largest, most desirable and fastest growing brand in India with a Relative market share of 150%. Started in 1995, Tanishq is the jewellery business group of Titan industries Ltd, promoted by the TATA group. It has setup production and sourcing bases with thorough research on jewellery brands in India. Located at Hosur, Tamil Nadu, the factory is equipped with latest and most modern technology.
Tanishq followed a Disruptive strategy. Avoiding efficient market theory, they came up with innovations like Karat meter, a non-destructive way to check the purity of the gold. They also introduced professional retailing in the un-organised Indian jewellery bazaar.
Brand positioning
1. Promise of purity and a unique …show more content…
After Tanishq received recognition, mother brand TATA dropped out
Marketing Mix
PRODUCT
• Tanishq is known for its ability to develop specialized design collection
• They have designs for all forms of attire and for all occasions catering to both high end segment and mass market
PRICE
• Tanishq has a wide range of products available at as low as Rs.1000 for mass market extending upto 25lakhs for high end segment
PLACE
• Tanishq retail chain is now located across 75 cities with 120 exclusive boutiques. It is India’s largest retail jewellery chain
PROMOTION
Tanishq opted mainly two promotion strategies
• Cultivate trust among customers by educating them about unethical practices in business
• Change the perception of jewellery from high priced purchase
All the commercials they promoted has an emotional factor in them.
Brand Portfolio Analysis
Product Life Cycle
BCG Matrix Brand …show more content…
Trends
Costume Jewellery is gaining a higher recognition because of huge variety of colours and designs available at comparatively cheaper prices.
Marketing plan
Objective: Tanishq wants to establish itself as a symbol of Fashion and Adornment sector
Strategy: Portfolio of jewellery ranging from real to costume jewellery is needed.
Plan:
Costume jewellery is expected to have a CAGR of 15% in value sales over next five years, compared to real jewellery which is anticipated to see a CAGR of 5%. This increase is mainly because of huge varieties and designs offered at relatively cheaper prices in costume jewellery compared to Real jewellery. Costume jewellery is highly unorganised sector characterized by regional and unbranded players. Tanishq can enter this segment owing to transformational development
Following the paths of its international counterparts like Swarovski, Tanishq can establish itself as branded player in Costume jewellery. Owing to reputed branded name, they can charge the costume jewellery at relatively high price
Video links