Professional Documents
Culture Documents
c c
cc
c
c
c
c
c
c
Tanishq was the country¶s only truly national jeweler that sold gold and gem-studded jewelry in
boutiques across India. The brand has undergone several strategic retooling over time to reach
out to the traditional but modern Indian woman segment. At the same time Gold plus was being
launched by TATA a modest brand positioned to serve the plain gold wedding jewelry market in
India¶s smaller cities. The Tanishq team, in the midst of a campaign to capture the wedding
jewelry market, felt that the Gold plus launch would confuse the market place and distract the
organization. They were also reluctant to give up the opportunity for Tanishq to serve the
smaller towns.While there was no truly national competitor, Tanishq faced local competitors
that were bigger than Tanishq locally. In addition there were over 25,000 family owned
independent jewelers.while women were the primary target for jewelry, men were the
buyers.Indian jewelers were essentially retail stockists. Vendors, who owned the inventories,
supplied to the jewelers through a consignment arrangement.At the back end of the supply chin
was a group of over 3 million craftsmen or karigars, most being born into the trade and working
from their homes. Going back to the history Titan was incorporated in 1984 as a joint venture
between the Tata Group and TIDCO. Prior to Titan¶s entry the Indian watch market was
predominantly mechanical. Within a decade, Titan redefined the Indian watch industry and
quartz became the new standard. Then with their success in watches they thought of
enter as a private label supplier. They underestimated several factors including significant
pricing pressures, high frequency of new product introductions and demanding customers that
needed their orders serviced at very short notice .The presence of low-cost Hong Kong based
competitors only compounded the problems and sales were below targets. With the lifting of
controls in the domestic market, Titan shifted its attention towards India. They introduced
jewelry watches under a new brand Tanishq. They positioned it as jewelry that tells time. The
advertising campaign created high awareness but sales did not follow. After these failures they
decide to manufacture and market studded jewelry under the Tanishq brand.Tanishq initially
offered 18 karat gem studed jewelry but later on it has to move to 22 karat to play in the larger
market.In 2001 a karigar park was set up to eliminate the traditional middlemen and his
margins.To face competition from local players Gold Plus stores were established which will
cover the market where Tanishq did not have its presence.
cc
!c"#"c#$%%&c&c'&%c"(c&)c
!c$#c$c&)c#$%%&c&c%!c$&c(% c
c2%c.cc$#$%&c.c%!c&)&c#& cc
3 ))"&c!")c%!c(c%c&)&c(% c
c&%&"c#$%%&c&c%!c.c.c%c,&c4)c5")67" c
9:c20 c+:c2
;c
%& %!ccc
&&<%<=c +">4"%=c )&c %"=c >#""&%c ?c %%&)& c )<%& c %% =cccccccccc
(%& c%% =c%c$$%=c)%&c?c<"c
c9(&c
5")c $#$%<=@2%c .c Ac $#$%&c &c #&c &)=c 5")c $#!c %"=c
&("")c"4 cc
:$$%&%c
$$& c "c (%=c :%"%=c + &c (%c $#""c $=cccccccccccccccccc
5"4"%&=c!c,))& c(%c
!%c
&c %"=c &)<)""c ,&)c 1,""c !$=c &%&%&"c #$%%=cccccccccccccccccc
5")c$"c
%& %!c
(%& c%% =cc$$%=c)%&c?cB"c
9(&c
0%)c%"%c
:$$%&%c
:%"%=c"c(%c
c!%c
c&!C=cB&c.c&c&)#$"&)c4=c "%&c.c <&&%c
c
c ##."c%% c
'$"%c$%&& c
&%)#%&c.c%)))c1,""c
Bc! !c$%&c
7&& c%!c(%c%c
)%&"c))"&c,c"&%)c
#&)%&c
&!Cc?c5")c$"c'$"&%c#!c%!c
&)%&)c%!c(%c%%c?c#!#%%#c
'$%"Dc%!c%& %!c
cccccccccccccccccccccccc