Divya chopra pgp30195 tata_tanishq
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Transcript of Divya chopra pgp30195 tata_tanishq
ContentIndian Jewelry Market
Titan – The Parent Brand
Tanishq – History
The Marketing Mix
STP
Points of Differentiation
Strategy
The Indian Jewelry Market
Tanishq28%
Nakshtra25%
Asmi12%
Sangini11%
Agni9%
Gili6%
Others10%
Market share
Gold39%
Gold with Di-amond
19%
Gemstones14%
Platinum7%
Pearl8%
Silver5%
Fashion jewelry7%
Jewelry types
Exhibitions1%
Branded jewelry
12%
Malls13%
Diamond merchant
2%
Goldsmiths19%
Family jewlers
53%Sources
Market Size
INR 251,000 Cr.
Expected CAGR
15.95%
FDI since 2004
US$ 476 million
Exports in 2014
US$ 35 billion*As of 2014
2014 2018
Projected Market size
251
530
INR
‘000
Cr
Watches
16%
Jewelry79%
Eyeware5%
History
Titan came into existence when TATA group joined hands with TIDCO to foray into watch industry
Titan started manufacturing jewelry watches and jewelry by setting up a 400Mn jewelry plant in Hosur
Titan launched jewelry products under the brand name ‘Tanishq’
Focused on jewelry watches for American and European markets
Focus shifted to Indian traditional jewelry in entirety. It started penetrating in domestic market
1984
19941995
1995-99
2000s
ProductGold . Diamond . Platinum .
Royalty stones
WeddingBridal
collection
MiaEveryday
jewelry
ZoyaSimple ethnic
style
MohamSouth Indian
style
Arialove passion
envy
Gold coin
Chain Pendant
Ring Earring Bracelet
Anklet Jewelry set
Product Variety – Based on tangibility
Product collections – Based on experience/ ocassions
Place
Stores
Franchise model
Over 130 stores in 75 cities
Experience
Showcasing
Trained sales personnel
Grandeur architecture
Heritage
Revitalizer of tradition
Price
Kundan and Polki range starting at INR 5 lakhs
High valued diamond starting at INR 2 lakh
Zoya, high end diamond jewelry with a range of INR 20-25 lakhs
Paheli and Jodha Akbar range starting at INR 8 lakhs
Premium Pricing Mass Market Pricing
Solo, Aria, Hoopla, Bandhan, everyday jewelry starting at low prices
Pendants, earrings and rings starting at INR 2000
Discounts on special occasions like Diwali, Valentine’s day
Customer Benefit programs and exchange offers to attract masses
PromotionTanishq initiated innovative schemes to enter into the fragmented jewelry industry
Revitalizing Indian tradition
Gold Harvesting
Scheme
Bollywood tie up
100% Exchange policy
Gift vouchersAnnuttara
Loyalty program
Purity checksDifferent collections
Creative designs
Changing perception for
high price products
Differentiating commodity
Entery into organized retailing
Differentiation strategy
SegmentationPsychographic segmentation
Geographic segmentation
• Collections that influence Life Style• High end • Mass appeal• Working Women
• Collection based on occasions
• Tier I and Tier II cities • Collection based on Indian
ethnicity• Tamil Nadu designs• Bengali designs
Class Consumer Profile
Product Preference
High Business/ Inherited
income/ Professionals
Branded designer jewelry Diamond studded jewelry
Upper Middle
Professionals/ Business/ Career
oriented/ Executives
Branded jewelry
Middle White collar/educated
Unbranded jewelry, high quality
artificial jewelry
Lower Middle Blue collar/ skilled Artificial jewelry
Lower Semi skilled No need
Target Market
Positioning – Pure Jewelry Pure Joy
Luxury
Belief
Honesty
Quality
Trust
Belief
Quality
Honesty
Provides certificates for purity of gold, diamonds and colored gems
Consistency in delivering promise, highest incidence of under Karatage (BIS), gold meters to measure purity
Highly ethical player, honest gold prices
Fashioned 22Kt pure gold jewelry, 18Kt gems studded gold jewelry
Points of Parity
Gold as commodityGold being a commodity put all jewelers on the same base
Jewelry DesignsJewelry designs are imitable
Business ModelMany jewelry brands are coming up with franchise model of business
Points of Differentiation
DCCP(Direct Consumer Contact Program)
CSMM(Customer Satisfaction Measurement Management)
CRM(Customer relationship Management)
CSP(Customer Support Program)
Tanishq has been able to differentiate itself in a commodity market through innovative retailing techniques
Quality- Issues certificates of purity
Customer Service
Attractive customer benefit schemes
Current Products New Products
Curren
t Market
Market PenetrationIncrease market share (28% currently)
• Provide EMI by tying up with banks
• Increase versatility of product usage
• Concentrate on Gen-X
Product Development
• Tanishq already has differentiated products in the current market
New
Market
Market Development
• Expand geographically in India by introducing more stores in tier II cities
Diversification
• Expand internationally
Strategy
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