Executive honesty are strong associations and has earned a

Executive Summary:

Tanishq started in
1995, pioneered the concept of branded jewellery. The initial product range was
Westernized. Tanishq did not do well for the first few years. It changed the
focus to domestic market with more traditional designs.

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Tanishq educated
the consumers on checking for purity of gold and introduced the Karatmeter.
Purity of Gold, trust, honesty are strong associations and has earned a high
brand equity. Tanishq has grown in a large scale since then and as of now has
230 stores in 120 cities of India.

Tanishq still has
room for growth as the jewellery industry is still largely unorganised, they
can leverage on the brand equity to expand globally.

Tanishq has a wide
range of product and the focus till today is still traditional jewellery.
Consumers choice has changed over the years and they are trending to more
western, fusion jewellery, its recommended to widen the product portfolio with
western and fusion designs. High value diamond is another segment where Tanishq
has no presence and its recommended to tap the segment. Wedding and men’s
jewellery are 2 segments where Tanishq has very little presence, they need to
come out with more products to cater these 2 segments. Customize jewellery
above certain amount can be a way to attract the elite crowd of India.

Tanishq has
acquired CaratLane to enter the online segment. Tanishq still does not sell
online jewellery under solely Tanishq brand name.

Tanishq’s TVC’s
are bold, educating and speak to the target consumers. But needs to improve as
it lacks in engaging consumers, followers on the social platform. It needs more
creative, original and separate content for Fb, Instagram, Twitter, Pinterest.
Tanishq has done well on YouTube with good, appealing, different videos.

Tanishq is in momentum
and because of its brand awareness, likeability did not have to do much to
create followers on social media and website, but this will not work in long
run.

 

 

 

Tanishq

Brand History

Tanishq a subsidiary of Titan Company Ltd which belongs to the prestigious
TATA Group. Titan Company Ltd was started in 1984 and is a joint venture
between TATA and Tamil Nadu Industrial Development Corporation. Titan came into
market for selling premium watches.

·      
Tanishq
was launched in 1995 and was the pioneer of the idea of branded jewellery.

·      
Tanishq
has played a major role and paved the path for Jewellery as an organised sector
in India which was unorganised.

·      
Tanishq
has established the concept of branded jewellery in India.

·      
Tanishq
tried to change the perception of jewellery as piece of adornment and not just
investment.

The concepts were new then and were not easily accepted by customers. It
suffered losses for the first few years but took corrective actions and made
its first profit in 1999.

“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.” – Tanishq COO, Vasant Nangia, in
March 2000, Tanishq – ICMR 2010, The Turn Around Story, Case Studies and
Management Resources, http://www.icmrindia.org/free%20resources/casestudies/Tanishq%20The%20Turnaround%20Story1.htm, accessed on 11th January 2018.

Jewellery market in India is dominated by located
jewellers and jewellery is custom made from traditional family jewellers. Thus,
Tanishq had to change the perception and preference to buying readymade
jewellery.

Its initial brand positioning as elite, modern,
contemporary and westernized jewellery, made from 18K gold did not go well with
Indian consumers who preferred traditional, antique looking jewellery. The
consumer tastes differed considerably between the diverse Indian states. Tanishq
re-positioned itself, changed focus to the domestic market and made different products
for each state as per the local preferences.

Today Tanishq offers a range of a diverse products
in 18K, 22K gold but the focus is still traditional and localised, promoted
based on different Indian festivals and occasions.

Tanishq also does transmigration of design which
means designs which are popular in a state are made available in another state
along with other designs, this increased the exposure and acceptance of Indian
consumers to wider design concept which was till then focused to local
traditions.

Tanishq’s main competitors were the local retailers
and to counter them Tanishq introduced the Karameter which uses X-rays to give an accurate reading of the constitution
of gold in the ornament within three minutes. Imported from Germany at a cost
of Rs 1 million each, Karatmeters proved to be the biggest USP for Tanishq in
the coming years.

Tanishq’s USP since then has been the purity of gold
and the fact that it belongs to TATA Group which has a high honesty quotient in
consumers mind enforced the honesty factor.

ICMR 2010, The Turn Around Story, Case Studies and Management Resources, http://www.icmrindia.org/free%20resources/casestudies/Tanishq%20The%20Turnaround%20Story1.htm, accessed on 11th
January 2018.

 

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