Description
Describing the entire brand analysis of Tanishq. And explain it along with history, SWOT, STP etc.
Tanishq brand analysis
Titan – An Overview 1.Founded in 1984 2.Joint Venture between Tata Group and Tamil Nadu Industrial Development Corporation (TIDCO) 3.World's sixth largest wrist watch manufacturer – 7 mn watches/annum with customer base of 65 million 4.Market Cap: 4460 Cr 5.Product Portfolio – Watches, Clocks, fashion eyewear, Jewellery Tanishq - An Overview 1.Tanishq – the Jewelery Division of Titan – established in 1995. 2.The name comes from ‘Ta’ (from Tata) and ‘Nishk’ (golden coin in sanskrit) 3.It pioneered the concept of branded jewelery and ornaments in India.
4.When Tanishq was launched it sold its products through multi brand stores. In 1998 it decided to come up with its own chain of retail show rooms to create distinctive brand image. Size and Growth: 1.It is a Rs 927-crore brand. 2.40% Market Share in branded jewellery 3. Growth of 40% over the past 4 years 4.The profit chart has also seen almost a vertical climb. 5.The contribution to Titan has increased considerably. It is now more than 50% OF Total Titan earnings. 6.It has 87 boutiques in 64 cities across the country. Market Structure: 1.Oligoply Market with players like Oyzterbay, Gili and Carbon having branded jewelery occupying around 4% of the market while the rest being unorganized retail sector.
SWOT ANALYSIS STRENGTH 1. Purity (karat meter) 2 . D i s t r i b u t i o n n e t w o r k a n d retailing store 3. Award winning designs 4 . D i v e r s i t y i n j e w e l l e r y gold/diamond/platinum 5. Competitive prices OPPORTUNITIES 1.Global markets 2.Low cost jewellery 3 . C u s t o m i z e d j e w e l l e r y designs 4 .Concen trate on Gen -X b yhaving trendy jewellery 5.Expand retail stores WEAKNESS 1.Capture Rs 70,000-crore 2 . E s c a l a t e d g o l d c o s t s l o w e r margins THREATS 1.Competition 2.Lack of Skilled workers 3.Gold not seen as s source of i n v e s t m e n t . ( L u x u r y i s needed).
SEGMENTATION Niche Marketing After its incep tion in 1 995 fo cu s on ex po rts, Tanishq 's d esign s had b een conceptualized for the Western markets and were introduced in India without any alterations. Tanishq positioned itself as an international brand for the Indian elite. The brand was targeted at a niche market (However they lateron started targeting the mass marketing since 1997). Psychographic Segmentation Life Style : Tanishq has found that 40% of the Indian women are working andthey targeted this segment wth a specific group of products called collection-G, a 9-to-5 jewellery for the working women. Geographical Segmentation Titan realized that, given the diverse nature of Indian ethnicity, it would have to satisfy the tastes of all regions. So, the designs became more ethnic. Titan also decided to tran spose d esigns b y sto ck ing Beng ali d esigns in Delh i,Keralite d esign s in Tamil Nadu an d typical d esign s f ro m Ta mil Nadu in Bombay in order to appeal to a variety of people Ansoff’s Model Market Penetration (Present product-present market) 1. Cu rren tly Market Sh are of Tanishq is 2 .9 %.So Tanishq h as a scop e fo r increasing its market share. 2.Provide EMI by tying up with banks.
3.Fin d new applications to current u sers: In creasin g th e v ersatility of th e product in terms of usage. For example, provision for using pendant as ear-rings, finger rings and vice versa. Market Development (Present Product- New Market)1.Expand geographically: Opening new outlets in new cities and increasing thenumber of outlets in the existing cities. Diversification (New Product- New market)1.Related: Gold and diamond studded buckles in belts and footwear.
Complied by: choudhary harish pemaramji College: IFIM B-SCHOOL
doc_383670217.docx
Describing the entire brand analysis of Tanishq. And explain it along with history, SWOT, STP etc.
Tanishq brand analysis
Titan – An Overview 1.Founded in 1984 2.Joint Venture between Tata Group and Tamil Nadu Industrial Development Corporation (TIDCO) 3.World's sixth largest wrist watch manufacturer – 7 mn watches/annum with customer base of 65 million 4.Market Cap: 4460 Cr 5.Product Portfolio – Watches, Clocks, fashion eyewear, Jewellery Tanishq - An Overview 1.Tanishq – the Jewelery Division of Titan – established in 1995. 2.The name comes from ‘Ta’ (from Tata) and ‘Nishk’ (golden coin in sanskrit) 3.It pioneered the concept of branded jewelery and ornaments in India.
4.When Tanishq was launched it sold its products through multi brand stores. In 1998 it decided to come up with its own chain of retail show rooms to create distinctive brand image. Size and Growth: 1.It is a Rs 927-crore brand. 2.40% Market Share in branded jewellery 3. Growth of 40% over the past 4 years 4.The profit chart has also seen almost a vertical climb. 5.The contribution to Titan has increased considerably. It is now more than 50% OF Total Titan earnings. 6.It has 87 boutiques in 64 cities across the country. Market Structure: 1.Oligoply Market with players like Oyzterbay, Gili and Carbon having branded jewelery occupying around 4% of the market while the rest being unorganized retail sector.
SWOT ANALYSIS STRENGTH 1. Purity (karat meter) 2 . D i s t r i b u t i o n n e t w o r k a n d retailing store 3. Award winning designs 4 . D i v e r s i t y i n j e w e l l e r y gold/diamond/platinum 5. Competitive prices OPPORTUNITIES 1.Global markets 2.Low cost jewellery 3 . C u s t o m i z e d j e w e l l e r y designs 4 .Concen trate on Gen -X b yhaving trendy jewellery 5.Expand retail stores WEAKNESS 1.Capture Rs 70,000-crore 2 . E s c a l a t e d g o l d c o s t s l o w e r margins THREATS 1.Competition 2.Lack of Skilled workers 3.Gold not seen as s source of i n v e s t m e n t . ( L u x u r y i s needed).
SEGMENTATION Niche Marketing After its incep tion in 1 995 fo cu s on ex po rts, Tanishq 's d esign s had b een conceptualized for the Western markets and were introduced in India without any alterations. Tanishq positioned itself as an international brand for the Indian elite. The brand was targeted at a niche market (However they lateron started targeting the mass marketing since 1997). Psychographic Segmentation Life Style : Tanishq has found that 40% of the Indian women are working andthey targeted this segment wth a specific group of products called collection-G, a 9-to-5 jewellery for the working women. Geographical Segmentation Titan realized that, given the diverse nature of Indian ethnicity, it would have to satisfy the tastes of all regions. So, the designs became more ethnic. Titan also decided to tran spose d esigns b y sto ck ing Beng ali d esigns in Delh i,Keralite d esign s in Tamil Nadu an d typical d esign s f ro m Ta mil Nadu in Bombay in order to appeal to a variety of people Ansoff’s Model Market Penetration (Present product-present market) 1. Cu rren tly Market Sh are of Tanishq is 2 .9 %.So Tanishq h as a scop e fo r increasing its market share. 2.Provide EMI by tying up with banks.
3.Fin d new applications to current u sers: In creasin g th e v ersatility of th e product in terms of usage. For example, provision for using pendant as ear-rings, finger rings and vice versa. Market Development (Present Product- New Market)1.Expand geographically: Opening new outlets in new cities and increasing thenumber of outlets in the existing cities. Diversification (New Product- New market)1.Related: Gold and diamond studded buckles in belts and footwear.
Complied by: choudhary harish pemaramji College: IFIM B-SCHOOL
doc_383670217.docx