Tanishq - International Marketing Term Paper

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  • Topic: Gemstone, Retailing, Jewellery
  • Pages : 22 (5872 words )
  • Download(s) : 77
  • Published : October 10, 2012
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Executive Summary0
Introduction (Sunil)3
Socio-cultural analysis3
Economic analysis3
Product3
Perceptions held by the intended market3
Major Problems and Resistances to Product Acceptance7
The Market8
Geographical region(s)8
Connectivity8
Consumer buying habits9
Product feature preferences10
Distribution of the product11
Advertising11
Promotion12
Pricing strategy12
Competition12
Competitor’s Products12
Competitor’s Prices13
Competitor’s Promotion, Advertising Methods and distribution channels14 Market Size15
Estimated industry sales for the planning year18
Estimated sales for our company for the planning year19 Government participation in the marketplace (Sunil)21
Agencies that can help you21
Regulation you must follow21
Marketing Objective22
Target Market22
Expected sales year 201022
Penetration and coverage23
Product adaptation or modification23
Promotion mix24
Advertising24
Sales promotions25
Personal selling and other promotional tools26
Distribution: from origin to destination (Sunil)26
Port selection26
Mode selection: advantages and disadvantages26
Packing27
Documentation required27
Insurance claims27
Freight forwarder27
Channels of Distribution (micro analysis) (Sunil)27
Retailers27
Wholesale middlemen27
Import/export agents27
Warehousing27
Price determination27
Terms of Sale29
Method of Payment30
Resource Requirements30
Place30
People31
Capital31
References32

Executive Summary

Tanishq is a subsidiary of Titan Industries, which is part of the Tata Conglomerate. Tanishq specializes in branded, designer jewellery and has carved a market share for itself in India and in Middle East. Canada have large South Asian population which still maintains it cultural roots and forms the right market for Tanishq to expand its global presence. Apart from the considerable South Asian population Canada is also very business friendly thus enabling easy opening of branded retail outlets. Canadians, like their USA cousins prefer lower karat gold ornaments while the South Asian market segment primarily thrives on 22karat jewels, thus Tanishq is uniquely place to grab this market with is 22karat and 18 karat jewels. The proposal is to form a joint venture with local business consultants and form a franchise mode of operation for the outlet. Jewellers who cater to the South Asia population are scattered across Toronto and Vancouver neighborhoods. We could tap in to these established shops and provide them the authenticity, trust and purity by converting them in to Tanishq franchisees. With Tanishq launching new line of products every three to six months cycle the customers’ need for newer designs or price range would be satisfied. While Tanishq supplies the franchisee with designer and trust worthy product along with brand name, the franchisee provide market reach, upfront investment as well as immediate sales and profit. It is a win-win situation for both parties with the local business consultant coordinating the efforts of finding, enrolling and monitoring the local franchisees.

Local business consultant manages the importing, managing the local transportation and providing logistics support. Franchisee shares the cost for promotion, point of sales setup as well as provide motivate management and sales personnel because most of these retail outlets are family owned business. This is a very cost effective way for Tanishq to enter into Canadian market.

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Socio-cultural analysis

Economic analysis

Product

Perceptions held by the intended market

Canada with its multicultural society presents a challenge as well as a great opportunity towards overall success of Tanishq as a brand, to ascertain as to...
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