They have also started 22 karat jewelry in order to increase the net value of jewelery. Flexibility and Adaptability according to Market needs and demands: Tanishq, an entirely new concept in the Indian market and had to struggle hard to be accepted by the customers as Indian jewelery manufacturers were largely unrecognized market.
Insales doubled to Rs million against Rs Industry watchers were extremely skeptical of Tanishq and doubts were being cast over its prospects. Thus there is a considerable scope for Tanishq to bloom in the Indian jewelllery market. And provide the product well build goodwill.
Perception of jewelery as an asset and not as a fashion accessory: Ahead of its time: Hence, a change in the perception of jewelery from an asset to a fashion accessory was extremely difficult to bring about.
As gold jewelry is an expensive article and people shows more traditional approach towards it, the concept of brand approach is very new and raw for Indian market which can be a threat for Tanishq.
Tanishq being a brand of Titan has a good financial support from its parent brand. Branded jewelery concept very new to Indian market: Taniqsh increased their promotional budget from 65 million to million? Taniqsh delivered customized gold wins to 0. Taniqsh used karat meters with x-ray to give an accurate reading of gold thus introducing the concept of gold purity for the first time in India.
The concept of branded jewelry did not exist.
Initially Designs offered by Tanishq were very westernized ,18 karat gold. Tanishq performed very badly in the next three years, posting a huge loss inproving its detractors right. Gold jewelery is perceived as an accessory and not only as an asset.
Tanishq should shift its emphasis from modern designs to more ethic traditional ornaments. In order to be different, Tanishq introduced westernized designs of jewelery into the Indian market, the same designs that it used to export.
Tanishq offered gold in 18 carat while the Indian consumer was used to carat gold. Tanishq began by offering jewellery in the carat gold range, with designs borrowed heavily from contemporary European brands. Taniqsh set up its own retail showrooms in The sleek and contemporary designs offered by Tanishq did not go down well with the Indian costumers, who preferred heavy traditional designs.
Taniqsh started low entity level prices for pendants onwards.
Jewelery market in India is highly unorganized and localized: In country like India with the increase in standard of living there is a change in attitude of Indian population towards the fashion and fashionable articles.
Tanishq provides a different range of jewellery as compared to other Indian brands. When Tanishq was launched, it sold most of its products through multibrand stores.
Moreover, these jewelers made the jewelery to order and often bought back their products at the prevailing market rates. Tanishq was the largest overseas chain in US with 1, outlets.Tanishq Case Study 1.
Situation AnalysisConsumer profileAccording to consumer research of Tanishq (), there were four.
The case 'Tanishq's success story' is intended to give a detailed insight into the reasons behind the success of the Tanishq venture. The branded Jewellery line from Titan Industries was not very successful when launched in The case examines in details the measures adopted by the company to correct its mistakes.
Tanishq Case Study CASE STUDY SUMMARY. Name of Organization: Tanishq Market Segmentation is a term of Marketing theory which simply implies grouping or aggregation of the entire consumer base consisting of existing and potential buyers into groups.
Tanishq is the leading, prominent jewellery brand in India. It is the largest, most desirable and fastest growing jewellery brand. It pioneered the concept of branded jewellery in India.
Being a division of Titan Industries Limited, a company promoted by TATA group, it is one of India’s largest. Tanishq Case Study - Free download as Word Doc .doc), PDF File .pdf), Text File .txt) or read online for free.
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