Main Product Brand: Tanishq
Sub Product Brand: Mia
Product Target Segment:
The growing, affluent and lifestyle conscious segment of women who use branded jewelry in their daily life. Why this segment??
* Women are increasingly the decision makers for their purchases of gold jewelry * Jewelry collection for everyday use, if high on design quotient, light in weight and affordably priced can attract the working women Driving Reason for new product:
* Purchase power of the middle class was growing.
* The five million working women whose purchasing power was an important part of the India’s growth story. * Women, engaged in different professions, complete with well-designed accessory ensemble did not have a choice of fine jewelry designed for daily wear. Issues
* Product mix
* Communication Strategy
* Can Mia Cannibalize Tanishq’s own product for special occasions like marriage, anniversary etc (product for one time purchase) Brief
Tanishq is the first and most prominent jewelry brand of the jewellery division of Titan industries ltd, a company promoted by Tata group and has origin in 1994 when it started to export the jewelry to earn the mech needed foreign exchange. This brand was specially created for the female segment. However later with the adverse developments in the world economy and growing of Indian economy, the focus is changed from exports to Indian market itself majorly.
Tanishq Strategy to Build Market
It was difficult to move people away from home jewelers. Traditionally consumers prefer to go to jewelers who give them confidence and faith that they will get what they pay for especially when people do not have tools or methods to know the purity of the gold ornaments. Tanishq realized this and built strategy to first break the association of consumers with traditional family jeweler by advertising the fakeness and flaws of traditional...