Q.1 Discuss the various bases or criteria for segmenting consumer markets. Explain Tanishq's segmentation and positioning strategy. Tanishq from the house of Tata entered the jewellery market as a national retail chain that provided made the audience with jewellery of high design value and reliable worth. it it's consumers believe in the purity of their jewellery by introduction of ºKarat metersª. These instruments helped the consumer measure the purity in a non- destructive manner. Another positioning strategy used by Tanishq were promotions by fashion shows to increase the shopping experience. It also catered to the mass by their differentiated designs for everyone be it contemporary, tradition, Indian or International audience. It also created exclusive Tanishq outlets and also launched its new collection at a quicker rate than its competitor. Tanishq also came up with new marketing promotions with every new collect to attract consumer. Tanishq overall segmented its consumers in different promotional manners and focused more on in-store promotions than advertising to make the brand more accessible. Q.2 What are Tanishq's key brand values or brand strengths? Explain. * Tanishq has a range of differentiated designs like contemporary, tradition, Indian or International to suit everyone's needs and demands. * Tanishq established itself as reliable in terms of purity by introducing ºKarat metersª in the Indian market for the first time. * The Tanishq portfolio comprises of a wide range of jewellery, including 18- carat studded products, 22- carat plain-gold products, silverware and coins. * The Tanshiq collections called Aria and Diva, Collection G positioned º9-5 jewelleryª worked wonders with the working women.
Tanishq: Positioning to Capture the Indian Woman's Heart
I. Case Summary:
The case study here provides us with the insight of how Tanishq has adopted different strategies to position itself as a mainstream jewelry brand and differentiate itself from the competitors, in the Indian jewelry market. GoldPlus, on the other hand which was launched nine years after Tanishq had entered the jewelry market, is also a subsidiary of the same holding company, which is targeted towards serving the customers which Tanishq was not serving, plain wedding jewelry in rural and semi -urban market. Tanishq, first started as a brand name for jewelry watch of Titan, was targeted towards the Indian high end customers. By then it was positioned as an ego satisfier. The reason for failure of Tanishq in the initial phase was that the company followed a selling concept. They made the product first and then tried to sell it. The consumer preference was not considered while designing the 18 karat jewelry. Over time Tanishq has undergone through a lot of changes in its marketing policies and strategies to position itself as a mainstream jewelry firm rather than targeting a small customers of the whole jewelry market. Tanishq, established in 1995, challenged the established family jeweler and introduced new rules in precious jewelry. Tanishq spread awareness to the public about alleged impurity in Gold jewelry across India. Tanishq introduced innovations like Karat meter, the only non-destructive means to check the purity of gold and machine made jewelry. Tanishq was introduced as jewelry for adornment and bore a western appeal; it was targeted towards modern women. But as a largest part of the Indian jewelry market is dominated by traditional jewelries, Tanishq had to move from being modern to being traditional. In its errand, Tanishq adopted different strategies at different points in time to capture customer value, to survive competition from local market, to reduce cost and to modernize the tradition in an innovative way. Today Tanishq has over 80 stores all over India. GoldPlus, which was solely introduced to reach out the jewelry market in the rural areas, was targeted towards selling traditional plain jewelry, which were...
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