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    Tanishq

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    rock_on_rupz99
    Tanishq is India's largest jewellery brand, launched in 1995 by Titan. It initially struggled, making losses from 1995-1998. By 2001, Tanishq had become the largest overseas jewellery chain in the U.S. and introduced innovations like the karat meter to check purity. Tanishq transformed the Indian jewellery market through professional retailing and reliable, branded products. While facing threats from competitors and fluctuating gold prices, Tanishq employed strategies like standardized pricing, transmigrating designs, and corporate gifting schemes to achieve success.

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    Tanishq

    Uploaded by

    rock_on_rupz99
    160 views18 pages
    Tanishq is India's largest jewellery brand, launched in 1995 by Titan. It initially struggled, making losses from 1995-1998. By 2001, Tanishq had become the largest overseas jewellery chain in the U.S. and introduced innovations like the karat meter to check purity. Tanishq transformed the Indian jewellery market through professional retailing and reliable, branded products. While facing threats from competitors and fluctuating gold prices, Tanishq employed strategies like standardized pricing, transmigrating designs, and corporate gifting schemes to achieve success.

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    tanishq

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    Tanishq is India's largest jewellery brand, launched in 1995 by Titan. It initially struggled, making losses from 1995-1998. By 2001, Tanishq had become the largest overseas jewellery chain in the U.S. and introduced innovations like the karat meter to check purity. Tanishq transformed the Indian jewellery market through professional retailing and reliable, branded products. While facing threats from competitors and fluctuating gold prices, Tanishq employed strategies like standardized pricing, transmigrating designs, and corporate gifting schemes to achieve success.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    160 views18 pages

    Tanishq

    Uploaded by

    rock_on_rupz99
    Tanishq is India's largest jewellery brand, launched in 1995 by Titan. It initially struggled, making losses from 1995-1998. By 2001, Tanishq had become the largest overseas jewellery chain in the U.S. and introduced innovations like the karat meter to check purity. Tanishq transformed the Indian jewellery market through professional retailing and reliable, branded products. While facing threats from competitors and fluctuating gold prices, Tanishq employed strategies like standardized pricing, transmigrating designs, and corporate gifting schemes to achieve success.

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    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 18

    a

    Tanishq- The
    Turnaround
    Story

    Introducti
    on
    Tanishq is India's largest, most desirable
    and fastest growing jewellery brand .
    Started in 1995, Tanishq is the jewellery
    business based in Bangalore launched
    by TITAN.

    The company wanted to be different by


    offering 18 carat gold with
    contemporary European designs.
    Company made losses in 1995-96 , 199697 ,1997-98.
    ,1997-98

    By 2001,Tanishq was the largest


    overseas chain in the U.S. With 1200
    stores and 10% of its turnover was from

    Contd.
    Titan Watches Limited was
    promoted by QIL & TIDCO.

    The company was Indias leading


    manufacturer of watches
    marketed under Titan & Sonata.
    Later Titan ventured in jewellery
    business with the name Tanshiq.

    Contd
    .

    Tanishq introduced innovations like Karat


    meter, the only non destructive means to
    check the purity of gold.

    Tanishq also introduced professional


    retailing in the un-organized Indian jewellery
    bazaar, where women can shop with comfort
    and peace, without worrying about the
    purity of the jewellery they are buying, as
    well as, selecting from the best jewellery
    collections available in the Indian market.
    Tanishq has successfully taken on the
    challenge of transforming this frontier into a
    reliable consumer space by bringing to it all
    the virtues and benefits that branding offers.

    S
    w
    O
    T

    STRENG
    TH
    Well executed marketing plan with
    unique strategies.
    Largest overseas chain in U.S.
    Customer servies enhancement.
    In-house manufacturing enabled
    it to charge same price across the
    country.
    In-house designers.

    WEAKNE
    SS
    Escalated gold price.
    Share was not even 1% in Indian
    jewellery market.
    Introduced with high standards.

    OPPORTUNIT
    IES
    Global market .
    Customized jeweler design.
    Own retail stores.
    Indian wedding market .
    Introduced revolutionary concept
    of karat meter.

    THREATS
    Competitors (Inter gold, Gili and
    Carbon).
    Fashion trends keeps on
    changing .
    Varying gold prices.
    Local markets.

    The changes in
    Gold Prices

    Market
    Strategies
    TRANSMIGRATION OF DESIGNS: Tanishq started stocking typical
    designs from Tamilnadu in Mumbai and those from Bengal in Delhi . yet
    being Indian , these designs provide variety to customers.
    CONTINOUS CHANGE IN DESIGNS : At least 10% of designs were
    changed at quarterly basis and fresh stocks were added to the stock.
    OWN CHAIN OF RETAIL STORES : At starting phase the company
    sold its product through multibrand stores . But now it has 47 Tanishq
    Boutiques in 37 cities including metros.

    Tanishq vs Others

    Contd
    INTRODUCTION OF KARAT METER : To check the purity of gold
    without wasting it , they introduced Karat meter .It was imported from
    Germany and it uses X-rays to check the purity of gold . It proved to be
    the biggest USP for Tanishq .
    RETURN GUARANTEE & EXCHANGE OFFER: They provided 100%
    return guarantee on its brand of jewellery and also exchanged other
    jewellery after deductions depending on purity.
    STANDARDIZED PRICE : Tanishq decided to have a standard gold
    price across all its showrooms from March 2000.

    Contd
    ENTRY LEVEL PRICE: The entry level price was as low as Rs.600 (for
    a pendant).
    LINK WITH (LME): Tanishq linked directly with London Metal
    Exchange for daily quotes of gold in the future.
    LAUNCH OF (CSMM): Tanishq started customer satisfaction measure
    program with the help of CSMM[Customer Satisfaction Measure
    Management],an associate of IMRB. CSMM tracked customer
    satisfaction parameters from Tanishq on a quarterly basis . This gave the
    company the benefit of benchmarking against international & Local
    players.

    Contd
    CORPORATE GOLD GIFT SCHEME: This scheme was launched in
    December 1998 and it proved to be a major success . Tanishq delivered
    50,000 customized gold coins to 0.25 million Maruti car owners
    nationwide as a part of the 15th anniversary celebrations of Maruti Udyog.
    This scheme accounted for about 5% turnover by 2001, and over 30
    corporate clients like Coca Cola , Whirlpool , The UB Group , The TVS
    Group , CEAT & Liberty Shoes.
    SEASONALPROMOTION: They promoted their products based on
    Indian festivals.

    Future
    Strategies
    Consumer oriented.
    Highly ethical corporate player.
    Investment in IT.
    Online ordering of gold.
    Global branding strategy.
    Expected to boost their sales.
    Planning to surpass its parent
    companys turnover

    Recommend
    ations
    Building Relationship
    Expand their markets
    Launching of low price
    products
    Promoting their products for
    wedding

    THANK
    YOU

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