Tanishq Marketing Report
2. Tanishq unsuccessful launch (Problems)
When Tanishq first came into the Indian market, the company come out with a decision that they wanted their jewellery to be different from the traditional Indian offerings, this had cause them to have lot problem and totally difficult to be accepted by the customers. The problems that the company face were the cultural limitations, and the designs of their jewellery designs
2.1 Cultural Limitations
The jewellery market in India was totally unorganised, before the Indian economy stabilized, only the Minerals and Metals Trading Corporation of India (MMTC) and the State Bank of India (SBI) were allowed to import gold. This had resulted in too little workshops supplying jewellery to all the jewellery retailers in India which were mostly family-owned or single shop operations.
The people in India had been using jewellery as a form of investment rather than an ornament. This had resulted in a difficulty in changing the understanding of jewellery as an asset to a fashion accessory. The Indians would always buy gold from the same jeweller that they had trusted. These Jewellers will always buy their products back at the prevailing market rates.
2.2 Design-customer preference mismatch
Tanishq started by selling jewellery in the 18-carat gold range and their designs were mostly taken from the contemporary European brands, The company had this thinking that they wanted to be different from the traditional Indian offerings which has caused them to suffer a great lost. Those customers in India were used to the jewellery that is heavy and have traditional designs.
The jewellery designs that Tanishq had brought in when they first started had totally no innovation. The designs of the jewellery had been mainly design for the Western markets and they did not do any alterations.
3. Tarnish Initiative (Solutions)
For Tanishq to be more successful, they have to be the one standing out from their competitors and controlling the
When Tanishq first came into the Indian market, the company come out with a decision that they wanted their jewellery to be different from the traditional Indian offerings, this had cause them to have lot problem and totally difficult to be accepted by the customers. The problems that the company face were the cultural limitations, and the designs of their jewellery designs
2.1 Cultural Limitations
The jewellery market in India was totally unorganised, before the Indian economy stabilized, only the Minerals and Metals Trading Corporation of India (MMTC) and the State Bank of India (SBI) were allowed to import gold. This had resulted in too little workshops supplying jewellery to all the jewellery retailers in India which were mostly family-owned or single shop operations.
The people in India had been using jewellery as a form of investment rather than an ornament. This had resulted in a difficulty in changing the understanding of jewellery as an asset to a fashion accessory. The Indians would always buy gold from the same jeweller that they had trusted. These Jewellers will always buy their products back at the prevailing market rates.
2.2 Design-customer preference mismatch
Tanishq started by selling jewellery in the 18-carat gold range and their designs were mostly taken from the contemporary European brands, The company had this thinking that they wanted to be different from the traditional Indian offerings which has caused them to suffer a great lost. Those customers in India were used to the jewellery that is heavy and have traditional designs.
The jewellery designs that Tanishq had brought in when they first started had totally no innovation. The designs of the jewellery had been mainly design for the Western markets and they did not do any alterations.
3. Tarnish Initiative (Solutions)
For Tanishq to be more successful, they have to be the one standing out from their competitors and controlling the