FINAL PROJECT REPORT
SUBMITTED BY: -
Abhishek Kumar Sinha(8002)
Prodyut Kumar Saha(8037)
Shwetha Rao Yermal(8048)
We are extremely thankful to Dr. H Gayathri for giving us the opportunity to undertake this project in Marketing Management and for her overall support, valuable guidance, astute judgment, constructive criticism and an eye for perfection without which this project would not have been in its present shape.
And last but not the least; we are thankful to all our fellow classmates who made valuable contributions and constructive feedbacks towards the completion of this project.
The Gems & Jewellery industry6
Evolution of Tanishq7
Growth of Tanishq8
4 P’s of Marketing11
THE MAKING OF A GREAT GLOBAL BRAND24
An ability to stay relevant25
A resolute core purpose and supporting values26
A central organizational principle26
An Indian Brand, which can make big in the global market, is Tanishq from Tata Group of Industries. Tanishq is India's largest, most desirable and fastest growing jewellery brand in India. Tanishq today is India's most aspirational fine jewellery brand with an exquisite range of gold jewellery studded with diamonds or colored gems and a wide range of equally spectacular jewellery in 22Kt pure gold. Exquisite platinum jewellery and designer silverware is also part of the product range.
Though they faced with many difficulty in the early stages they for about six years they then came with up with good strategies The Tanishq strategy for the coming couple of years relies on two things —increasing penetration in the domestic markets and going abroad in order to diversify its revenue portfolio.
To push penetration in other markets, Tanishq will use the ‘shop-in-shop’ concept that it already does in 50 stores across different West Asian markets. “This reduces distribution costs. Also, for the consumer it remains a Tanishq store and helps us get a foot into the market.
Their main core competency is in designing a wide range of products. They were the first to come up with the idea of karat meter, which proves the quality of the gold, to win the trust of the customer.
The Gems & Jewellery industry
The Gems and Jewellery (G&J) market essentially comprises of sourcing, processing, manufacturing and selling of precious metals and gemstones, such as, Gold, Platinum, Silver, Diamond, Ruby, and Sapphire etc. The G&J market is a significant contributor to the Indian economy, based on the size of the domestic market and through its contribution to the country’s exports. India is the largest consumer of gold (around 20 percent of global consumption) and also the largest diamond processor (around 90 percent by pieces and 55 percent by value of the globalmarket. India’s G&J industry is highly unorganized and fragmented with 96 percent of the total players being family owned businesses. The gold processing industry has around 15,000 players, with only 80 having revenues over USD 5 million. India is also home to around 450,000 goldsmiths, 100,000 gold jewelers along with 6,000 diamond processing players and 8,000 diamond jewelers....