Project On Tanishq

SUMMER INTERNSHIP PROJECT
A REPORT ON To Develop And Implement The New Marketing Strategies For TANISHQ In West Bengal
BY PRAMIT KUMAR BASU
12/1/2011
CONTRACT: TITAN INDUSTRIES LIMITED
A REPORT ON To Develop And Implement The New Marketing Strategies For TANISHQ In West Bengal
BY PRAMIT KUMAR BASU 06BS2332
A Report submitted in partial fulfillment of the requirement of MBA Program of ICFAI BUSINESS SCHOOL
Distribution List: Prof Arjya Chakraborty (SIP Coordinator) Anirban Banerjee (Regional Business Executive, Tanishq)
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TABLE OF CONTENTS
Topic
1. Acknowledgements 2. Abstract Of The Work 3. Introduction 4. Jewels Of India 5. Innovation Mantra 6. Marketing Moves 7. Learning The Ropes 8. Changing Lifestyle 9. A War In The Offing? 10. Surging Ahead 11. Designs On Women 12. Innovative Collections 13. Market Mantra 14. Consumer Decision Making 15. Tanishq In West Bengal 16. Data Collection Methods 17. Objective 18. New Store Opening ( A survey ) 19. Analysis 20. Limitations To The Study 21. Tanishq And The Great Indian Wedding 22. Akshay Trithiya Media Tracking Survey
Page No
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23. Tanishq Anmol Saheli 24. Result Of The Tie-Ups (VIP) 25. Godrej Lifespace 26. LG Electronics 27. Simaaya 28. Road Shows 29. Minutes Of The Calcutta Meeting 30. A Research Analysis On Indian Jewellery Market 31. Conclusion 32. References
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ABSTRACT OF THE WORK

The Summer Internship Program in Titan Industries Limited started from 26th of February, 07. The project is based mainly on the marketing strategies taken by Tanishq in the financial year 07-08 and the methods to implement them. The total jewellery market in West Bengal is around Rs5000 crore and Tanishq holds about 11% market share which is surprisingly poor for this prestigious company. The rest of the market is divided amongst the competitors like P.C. Chandra Jewellers, Anjali Jewellers, M. Sirkar and Sons etc which are wholly kolkata based with the exception of P.C. Chandra which has diverted its attention to rural areas of Bengal. Surprisingly these local players hold the bulk of market share even though they do not promise 100% pure gold (22carat) every time. The main aim of the project is to increase the customer base and to spread the awareness among customers regarding the purity of gold which is guaranteed from the House Of Tatas. Awareness starts from aggressive campaigning not only in Kolkata but also in whole of West Bengal. The campaigning is done through Road Shows in the suburban cities of Purulia and Haldia to start with and exclusive marketing Tie-Ups with brands like VIP, Godrej, Samsung and some well known Sari shops. One important aspect which is noticeable among the competitors is that they believe in aggressive marketing which includes door to door marketing, tele-calling, leaflets, paper inserts which spreads the brand name to almost every individual. They go up to such an extent that they allow their customers with considerable amount of discount schemes and installment payment options which spreads the goodwill among the mass. In West Bengal almost half of the population belongs to the category of middle class and they get attracted very much to these schemes, but seldom have they known that they are being cheated regarding the purity of gold and diamond jewellery. Tanishq wants to hit in this area where not only they get tested and certified jewellery but the customer gets a lifelong association with the company which is rare amongst the competitors. Customers are been invited to any kind of shows which Tanishq organizes
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and also they are allowed to share the ups and downs of the company. In this respect we organized a show Anmol Saheli chaired by renowned Kiran Kher which salutes the immortal bond between mother and her daughter. Customers were allowed to take part in this show and share their thoughts with Kiran Kher.
April, May, June is considered to be the wedding season in Kolkata and Tanishq wants to capture this market big time with these innovative marketing efforts with its pure and authentic collection of gold and diamond jewellery. Tanishq, a decade after its founding, is poised to do even better, and the pampered Bengal consumer is just waiting, wallet open, to be served.
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INTRODUCTION
The significance of the name TITAN connotes the association of the Tata Group in the form of Tata Industries and the Tamil Nadu Industrial Development Corporation. It thus signifies the joint venture between the Tata Group and TIDCO.
The Manufacturers of India's leading watch brand and India's only national jewellery brand - using design, technology and people for unchallenged market leadership. Product portfolio includes watches, jewellery, eyewear and precision engineered products. Exports watches to about 40 countries around the world with manufacturing facilities in Hosur, Dehradun, Goa and manufactures precious jewellery under the Tanishq brand name, making it India's only national jewellery brand.
Tanishq as a Brand:Tanishq is Indias largest, most desirable and fastest growing jewellery brand in India. Tanishq, started in 1995, is the jewellery business group of Titan Industries Ltd - promoted by the TATA group, Indias most respected and widely diversified business conglomerate. This year marks a decade of successful innings for Tanishq. With retail sales of 732 crore last year and gunning for 1025 crores this year, Tanishq has arrived in the Indian jewellery market. Tanishq embarked on its voyage 10 years ago when it challenged the established family jeweler and introduced new rules in precious jewellery; a category as old as civilization.
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It is a story of a successful Indian enterprise, which has delivered value to its customers and shareholders in a complex category, marked by its completely localized front end as well as back end. VISION To be the most desirable jewellery brand for Indian women. MISSION We will continuously create wealth for all our stakeholders, by transforming the jewellery business and by being the gold standard in design, shopping experience and ethical practices. Titan's business excellence (BE) process is managed as a distinct entity, with a separate team reporting directly to the company's managing director, to drive initiatives across all divisions. N. Kailas Nathan, vice president, chief information officer and head of business excellence and knowledge management, wants the quality initiative to become an indivisible part of the company's day-to-day activities.
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Jewels of India
In the branded jewellery segment, Tanishq has established its leadership position and built a persona which is premium, stylish, exquisite and pure "Diamonds are a girl's best friend!" sang Marilyn Monroe, seductively, in the 1953 hit movie Gentlemen Prefer Blondes. The conviction has not changed since then. Think birthdays, anniversaries, special moments and what is it that will bring a sparkle to a woman's eyes? The flash of diamonds! The glitter of gold! The glorious glint of jewels!
An Indian woman's penchant for jewellery is perhaps greater than that of women elsewhere. The love affair starts from the cradle. As a baby, bangles dangle from her wrist and anklets tinkle as she moves. By the time she is a toddler, she has added earrings and probably nose rings to her jewellery casket. And when she gets married, she receives as gifts streedhan wealth in the form of jewellery from her parents. Adorning herself with jewellery is an everyday affair, not restricted to occasions and festivals. No wonder jewellery has always been big business in India. In June 1995, when Tanishq entered the segment, the market was dominated by the neighborhood sonars (goldsmiths) who would craft designs in gold for women. Sometimes the finesse would be missing; often the gold would not be pure. Tanishq, as the first brand of jewellery in the Indian 9 12/1/2011
market, changed all that. It promised pure gold and offered elegant designs at transparent prices. Since then, Tanishq has built on its first mover advantage and remained the market leader through the years, despite many new entrants to the business. The company has been growing at the rate of 40 per cent per year for the past five years and has registered a turnover of over Rs 750 crore in 2005-06. The target now is to achieve a turnover of Rs 1,000 crore in the current fiscal.
Innovation mantra
The most important factors spurring Tanishq's success are innovation in the business model, in design and in promotions and the trust the Tata name evokes. Tanishq is no longer the only brand wooing the Indian woman; Nakshatra, Sangini, Asmi, Damas at all are also in the race. The difference is that most of these are predominately product brands, while Tanishq is a retail brand, giving customers a unique shopping experience. Govindraj, VP retail and marketing, explains, "Tanishq is available only at exclusive outlets and this was the company's first innovation. Today we have 80 showrooms in 60 cities." This was not the only weapon in Tanishq's arsenal. It won the trust of its customers by installing karat meters in its outlets to check the purity of gold. Tired of not being sure of the quality of gold they had bought, women were delighted. The karat meter uses the principle of spectroscopy to test the purity of gold without damage to the ornament or loss of any of the gold.
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Tanishq's unique designs are created with the Indian woman in mind. Aware that a woman plays different roles at work and at home, and dresses differently for every occasion, Tanishq has created specific collections that have set a new fashion in jewellery. "We are aligning ourselves by contemporizing traditional jewellery and making it relevant for them," says Venkataraman.
Marketing moves
Tanishq's marketing and promotional strategies have been equally trendsetting. It uses a 360o approach in creating brand equity and a persona of purity, style and exquisiteness. Be it the talking billboards in their storefronts enticing customers to walk in, or the crowns it has been designing for the Ponds-Femina Miss India contest, Tanishq's marketing moves have panache. Their new campaign 'the emerging Indian woman' gracefully blends the traditional and the modern. Another first was the special collection designed for the movie, Paheli. It was a huge promotional initiative and a bigger than ever canvas to display and promote its high-end designs. "It was the ideal vehicle to position Tanishq in the serious jewellery space as well as bring it closer to the consumer," says Venkataraman. "Indian fashion actually is actually led a lot by films. As a medium it influences customers significantly," adds Govindraj. The movie, a tale of eternal love set in Rajasthan, proved to be perfect for showcasing the vibrancy and beauty of kundan, meenakari and jadau jewellery. No less enticing was their "19 = 22" offer in which customers could buy gold jewellery giving their 19-carat gold which was valued at 22-carat prices. "The exchange offer helped customers to get rid of the inferior gold and helped Tanishq acquire new customers.
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Learning the ropes

Today, Tanishq enjoys a dominant position in the jewellery industry and its customer retention is at 85-90 per cent. It wasn't so always. When Tanishq was launched, its portfolio comprised diamond-studded jewellery in western designs. The company soon realized that to succeed it required a mix of traditional jewellery and contemporary designs. Next, they learned to value regional preferences. Designs were customized depending on the regions and markets: the seven-diamond floral motif collection was contemporized but the traditional designs of the mangalsutras remained unchanged. Jewellery showcased in stores in south India was different from designs available in eastern India. Tanishq was spreading its glitter, and fast.
Changing lifestyles
Meanwhile, the business environment had also swung in Tanishq's favour. Changing consumer demographics due to rising incomes, dual incomes and exposure to foreign designs brought about a change in the way people looked at jewellery. If jewellery was once bought as an investment or as part of a daughter's dowry, it was no longer the case. With the rise in number of working women and disposal incomes, people have begun visiting the jewellery shop more often. Weddings still remain and will remain the time when maximum money is spent on jewellery, but now impulse buying is becoming increasingly common.
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Just 10-15 years back, jewellery was synonymous with gold. Semi-precious stones were popular but not diamonds. Happily for Tanishq, that has changed. The share of diamond sales in total jewellery sales is an indicator of the trend. "Tanishq has a share close to 30 per cent compared to the industry's share of 12-14 per cent. It is another indicator of Tanishq's first mover status," explains Venkataraman.
A war in the offing?

With the growth in the market and the government's decision to allow FDI up to 51 per cent in single brand retail stores, some of the world's biggest jewellery brands, such as Tiffany, Cartier and Zales, are setting up shop in India. Is that cause for concern? Tanishq is not fazed, because "Tanishq understands the Indian woman's psyche," says Venkataraman. "Indian jewellery is different from western jewellery and it will take a while for foreign brands to understand and develop the capability." Some of these brands,
Especially Cartier and Tiffany are semi-luxury and luxury brands and operate in a space different from Tanishq's area of operation. Striking the right balance between network expansion and consolidation of individual stores, and backed by its understanding of the Indian woman, Tanishq is confident it will continue to grow, innovate and do what it does best make women look and feel special. Pioneering can be a poisoned chalice. Tanishq as much a trailblazer in the Indian jewellery business as its parent, Titan, was in the watch industry knows this better than most. The division was in dire straits in 2000 after posting losses for the third successive year. That made four years of dripping red in Tanishqs seven-year life. To make matters worse, the executive team had resigned, and stakeholders and store franchisees were utterly disillusioned.
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The going could not have been tougher when Tanishq got going with its efforts to rekindle and rejuvenate an idea that had promised so much. With a never-say-die spirit for company, a new and inexperienced team set about turning around the divisions fortunes. Today, three years later, Tanishqs turnover has trebled to Rs 389 crore, with profits of Rs 7.82 crore, a whopping 318 per cent rise over 2001-02. The annual growth rate is now pegged at 40 per cent. Harish Bhatt, the newly appointed chief operating officer of the division, is justifiably delighted: "Team Tanishq is very proud of this spectacular achievement," he says. "Our people have driven this turnaround; they brought resolute belief, immense energy and abiding focus to everything that we did." During this landmark year, Tanishq has also generated positive economic value by delivering a return higher than the companys weighted average cost of capital. This is an important milestone in its history.
Surging ahead
This year Tanishq has toppled its parent brand to take the top slot in the internal-revenues sweepstakes. The divisions contribution to Titan is expected to increase from the current 43 per cent to 55 per cent by 2007. The excitement and enthusiasm at Tanishqs headquarters in Bangalore is palpable. With this dramatic swivel towards success, the division has effectively silenced sceptics who had predicted it would be impossible for an entity in the jewellery business to make profits through legitimate means. Far from resting on its laurels, Tanishq is looking forward to the next milestone. The challenge now is to, by 2007-08, double turnover to Rs 1200 crore and multiply profits to Rs 50 crore. A recent review by McKinsey states that Tanishqs jewellery business is on firm ground. The reasons: first-mover advantage (the pioneer part has its benefits); a
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SUMMER INTERNSHIP PROJECT scalable national model in organized retailing; and an increasing contribution to Titans revenues.
Designs on women
The Rs 80,000-crore jewellery business in India is fragmented and ruled by traditional local players. For Tanishq to be able to break the stranglehold, it had to find a way to connect with the need for finely crafted jewellery at affordable prices. Previously, Tanishq was positioned as an international jewellery brand for the Indian elite. This meant it catered to a niche market; the masses were ignored. Moreover, its Italian designs in 18carat, mostly studded jewellery did not go down well with the traditional Indian woman, used as she was to 22-carat jewellery. Given this reality, design was back in focus at Tanishq but with a difference. Abandoning its westernized look from the past, head designer Elizabeth Mathan and her team chose to work on a fusion of contemporary and traditional Indian motifs. Says Mathan, "Our primary customer is the young Indian woman, who has a modern, contemporary outlook towards life but is still firmly rooted in her traditional Indian values." Tanishq Aria was the first line to be launched with the new concept. It gave a fresh perspective to the traditional seven stone setting. It was a great success. Then, came Diva, which combined the brilliance of diamonds with the soft luminosity of pearls. Another success. Looking back, Bhaskar Bhat, managing director, Titan says, "Our biggest change was targeting the mainstream Indian customer. The introduction of 22-carat plain jewellery was the first step in getting us where we are today." The range was strikingly different from the standard fare available in the market, yet it was traditional. The lightweight collection looked heavy, but felt light, just under 25 gm. This met the working womans growing need for great-looking and beautiful jewellery that was affordable and extremely comfortable to wear.
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Innovative collections
The production process was made more flexible. New Japanese manufacturing machines were introduced at Tanishqs Hosur plant. The emphasis turned to customer demands across all segments and surveys were conducted to tweak business strategies. "We have to meet a relevant consumer need," explains Saroja Y. L., the divisions group manager, "so when we develop strategies for any marketing program our core philosophy is to link it with a particular consumer need, felt or otherwise, and then bring it to light in the most evocative way possible." Collection G and Tanishq Solo are examples of this doctrine.
Surveys showed work-wear jewellery to be a dilemma for the working woman. Tanishqs Collection G 9 to 5 range, with its modern, innovative designs, marked the first-ever collection custom-made to suit their requirements. Unique finishes and different textures, as well as a contemporary touch gave a distinctive look to the jewellery crafted in pure 22carat gold. Moreover, it also addressed the homemakers need for everyday-wear jewellery. The entry points for the collection was just Rs 595, with more than 90 unique designs, including earring-pendant sets, neckwear, bangles, bracelets, chains and rings. The concept took the market by storm. Likewise, solitaires were a womans dream. But solitaires were perceived to be the sole preserve of the upper middle class, as only diamonds above 40 cents were considered solitaires. Tanishq debunked the myth and launched an exclusive brand of solitaire diamonds Solo, priced at Rs 7,500 and upwards.
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SUMMER INTERNSHIP PROJECT "Taking a fresh look at our brand exercise meant challenging the existing order in the marketplace and taking bold, if risky, business decisions. Today we have successfully democratized luxury and fashion in jewellery and by making the best of designs accessible to a wide segment of Indian women. In 2002 more than 1 million Indian women shopped at Tanishq, a fact thats testimony to the brands broad appeal, and an indicator of its success in enabling consumers to access higher levels of quality," reveals Mr. Harish Bhat.
Market mantra
Customer acquisition meant employing innovative marketing initiatives. Like some players in the apparel industry, it decided to launch an innovative collection in every quarter of the year to encourage customers to frequent the stores. The path-breaking 'impure to pure exchange' enabled customers to exchange impure gold for 22-carat gold. During the offer period, customers could go to the Tanishq showroom and get a free gold purity check done on a 'Karatmeter' (an internationally acclaimed device for purity checking). Even if they find their jewellery to be less than 22c (up 19 carat pure), they could exchange it for Tanishqs certified jewellery.
Customer Policy Of Tanishq
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SUMMER INTERNSHIP PROJECT The response was tremendous. Most of our strategy has revolved around breaking the bond of customers with their jeweller by building on the weakness of the jeweller and on our strengths, Which explains why Tanishq is now synonymous with trust and purity, and is perceived as a leader in jewellery design in India? Over the last three years it has worked overtime to make its boutiques far more productive and responsive to consumer needs; they were made the centre stage of all marketing activity. Tanishq is the only national jeweller in India with an unmatched consumer reach through 62 exclusive boutiques in 47 cities. In India, gold buying is still to mark special occasions like festivals, anniversaries and auspicious days like akshaya tritiya. So, whether it was Varalakshmi Puja in Andhra Pradesh, Durga Puja in Bengal, Onam in Kerala or Karva Chauth in the north, the company celebrated it with its customers in the right cultural spirit. Tanishq is today perceived as a design leader in jewellery; as a distinct, fashionable brand which defines trends in jewellery; as a retail brand which offers an elegant, clearly differentiated shopping experience which is quite unique in this category. The whole discussion is figured below:
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Consumer Decision Making - A Simple Model

External influences
Input
Marketing efforts
Sociocultural environment
Family, informal sources, social classes, cultural
Product, promotion, price, place/channels Consumer decision making
Psychological field
Process
Consumer decision making
Motivation, perception, learnings, attitude
1.Need recognition 2.Pre-search 3.Alternatives
Experience
Postdecision behaviour
Output
Purchase
1. Trial; 2. Repeat purchase
Postpurchase evaluation
Thus in purchasing jewellery by the customers, they are driven by both external and internal influences. External influences include, Marketing efforts by the company as the Input, Consumer Decision Making as the Process and the Purchase as the Output. Here we can take the input to external influences as socio cultural environment also which include information from family, social groups, informal sources etc. The decision making, which is the process, is purely psychological as the customer internally analyses about the product and its pricing. If required, they take the help of old customers of Tanishq to judge their satisfaction level with the product. The output deals in purchase and post purchase evaluation, where they mentally analyze whether the jewellery set which they bought, worth their hard earned money? Whether they got the best piece compared to the other jewellery shops? Etc
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TANISHQ IN WEST BENGAL

Tanishq as a brand is a new entry to Calcutta and especially to West Bengal wedding market. Customers are generally inclined to the local jewelry stores for their wedding marketing. They often get cheated in terms of low quality of gold (18 carats) which they are unaware of. Tanishq wants to launch themselves in this market which is a huge potential with 100% pure gold (22 carats) and a wide range of wedding collections at an affordable price. In this respect we are formulating out strategies to tap this market in terms of tie ups with various wedding accessory shops like saris, beauty salons, marriage registration bureaus etc and also in terms of road shows in West Bengal where we do not have stores. Titan Industries Limited is planning to open up two new stores of Tanishq brand of jewelleries in New Alipore and Rajarhat. Also the company is planning to target the wedding market in Calcutta during the upcoming wedding season spanning three months (April, May, and June). Tanishq has opened first-of-its-kind concept store at Fort Knox, the exclusive jewellery mall on Camac Street, Kolkata. This anchor store reflects the new retail identity of Tanishq the 'Revitaliser of Tradition'. Tanishq has taken this retail initiative from Kolkata since the city embodies Tanishq's retail idea of combining the grandeur of the past with the reality of the present without losing its inherent character and appeal. Also it has two other stores in Gariahat and Kankurgachi. The introduction of the idea of a concept store is a move to catapult Tanishq's unique brand identity in the retail space and take jewellery retailing in India to a new level. The concept stores will take Tanishq closer to making it the complete jewellery brand catering to varying consumer needs and tastes across all consumer segments and also provide customers a unique and innovative buying experience. Study is undertaken for identifying the potential customers who will be interested in visiting the fourth retail showroom in New Alipore. Primary research has been conducted
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SUMMER INTERNSHIP PROJECT to collect data from the respondents on the basis of questionnaire. Study is conclusive in nature. Since here the research objectives are clearly specified and information needs are listed out. This conclusive research provides information that helps the manager to evaluate and select a course of action. Conclusive research provides the relevant information to help the manager arrive at a decision. It is characterized by formal research procedure. The research is statistical in design. Statistical method is the most widely used method in marketing research. It makes use of techniques that vary from simple means and percentages to very sophisticated techniques. Statistical tools are used by most marketing research professionals to understand the dynamics of the market. Data are usually collected through observation and thorough interviewing.
The statistical method has certain advantages: Statistical methods can be used for mass data. Two different researches using the statistical research will arrive at the same result. Statistical study helps the researchers to make accurate generalizations. If the sampling is properly done, generalizations will be true.
Data Collection Methods: Primary Collection Method: Primary sources are used for data collection. Primary
data collections are given more importance over secondary data collections because secondary data collections because secondary data are collected for some purpose other than helping to solve the current problems whereas primary data are collected exclusively to help solve the problems at hand. This exclusively proves that the primary data are focused towards the problem. Hence primary research is conducted and not the secondary research. Survey research is used for gathering primary data. It is the systematic gathering of information from respondents for the purpose of understanding and predicting some aspect of the behavior of the population of interest. The population of interest is the residents of Behala and New Alipore mainly and also the residents of surrounding areas. Within the survey method, personal interview technique is used. Respondents are
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SUMMER INTERNSHIP PROJECT personally approached at their residence and interviewed in front of shops like Raymonds, Hyundai etc. Information is collected in a face to face situation. Personal interviews are flexible enough and in-depth information can be obtained from the respondent. It is been because of the requirement of detailed and vivid information that personal interview method is chosen. Respondents are approached with a structured questionnaire and information is collected accordingly. Sampling constitutes an important step in data collection process. Sampling is the process of selecting a representative part of the population, studying it and thereby drawing conclusions about the population from which it has been drawn. Most marketing studies involve a sample or the subgroup of the population relevant to the problem, rather than a census of the entire group. This market research project is also no exception to the sampling rule. My project was centered on the residents of New Alipore and Behala and the adjacent areas. Of all the residents present in the concerned areas, only sixty of them were randomly selected. Simple random sampling methods are used to select the sample units where each member in the population has an equal chance of being selected in the sample. Probabilistic sampling method is used where the members of the sample are selected by chance and there is a known chance of each unit being selected. These sixty sample units constitute representative sample of the entire sample frame. Though the size is small, it is representative enough to give the required information albeit with some uncertainty within the given resource constraints, financial and temporal constraint.
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OBJECTIVE
To increase the sales of Tanishq especially in the segment of wedding jewelry and to do a research on the customer buying behavior. The objective is carried on by the process of Organizing road shows in the potential areas like Purulia, Chandannagar,Haldia Marketing tie ups with famous sari shops in Calcutta like Traders Assembly, Benarsi Kuthi, Simaya, Belong where purchasing of wedding saris are common among the customers. Opening up of new boutique of Tanishq in the areas of New Alipore, Behala.
Tanishq challenged the age-old jewellers word with TATAs guaranteed purity. It exploded the market with facts about rampant impurity across India. It introduced technology-backed challenge in a category completely governed by individual trust. Tanishq introduced innovations like Karatmeter, the only non destructive means to check the purity of gold; machine made jewellery, which offers far superior finish and value to the customer and beautiful handcrafted jewellery which is influenced by various jewellery traditions of India. It represents the aspiration of emerging Indian woman, who uses tradition rather than being used by it; who fulfils her responsibilities and lives her dreams;
who celebrates festivals in her house with glamour and panache; who embraces modernity without breaking away from tradition. For Tanishq to become the number one choice for the wedding customers, the project caters to the following objectives; 1. Increase visibility of brand name. To stand for the credibility and total customer satisfaction. 2. Developing a brand image where our customers are proud to be our clients.
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SUMMER INTERNSHIP PROJECT 3. Attain a level of customer satisfaction where our customers become brand ambassadors. 4. Introduction of a relationship management system with our customer base with both existing and prospective customers. 5. To reach a point of customer delight we need to provide complimentary services to our existing customers beyond our contractual scope. 6. Introduction of a call management system where the calls coming from potential business opportunities can be taken care of by the business executives. Processes involved can be cold calls (suspects), PR calls (suspects to prospects), Development calls (relationship building), A/C review call and subsequently presentation calls, Follow up calls, Order Calls, BR calls.
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New Store Opening In Behala\New Alipore A SURVEY

A survey is done on the customer buying behaviour to find out whether it will be appropriate to open the fourth boutique of Tanishq, either in Behala or New Alipore. Number of person approached - 150
Q1. Which is the most preferred location for you to shop? New Alipore - 34 Gariahat Behala 40 32
Camac Street - 18 Others 26
P r e f e r r e d Lo c a tio n To S h o p
N e w Alip o re B e h a la G a ria h a t C a m a c S tre e tO th e rs O th e rs 17% C a m a c S tre e t 12% G a ria h a t 21% B e h a la 27%
N e w Alip o re 23%
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Q2. How frequently you go for shopping of garments/ jewellery? Weekly once 14
Once in a month - 36 Once in 3 months - 47 Once in 6 month - 28 Others 25

F re q u e n cy O f S h o p ping
Others 17% Onc e In 6 Months 19%
W eekly Onc e 9% Onc e in a Month 24%
W eekly Onc e Onc e in a Month Onc e In 3 Months Onc e In 6 Months Others
Onc e In 3 Months 31%
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Q3. Do you go to branded showrooms like? Adidas RBK Sony 6 12 14
Yes( 142)
Raymonds - 31 ColourPlus - 14 Titan 18
P. C. Chandra - 24 Tanishq - 18
NO(8)
No Response - 8
No of pe ople going to brande d showrooms
13% 12%
5%
4%
8% 9%
21% 16% 12%
Adidas Colorplus PC Chandra
RBK Raymonds Tanishq
Sony Titan No Response
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Q4. Will a Tanishq show room here ( New Alipore/ Behala) will help you in your jewellery purchase? Yes - 85 No - 25 No Response - 40
Tanishq Showroom In Be hala/Ne w Alipore
27% YES NO 56% 17% No Res pons e
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Q5. Where do you want a Tanishq showroom in this area? New Alipore - 71 Behala - 42 No response - 37
Customer's preferance for Tanishq showroom

New Alipore Behala No Response No Response 25% New Alipore 47% Behala 28%
ANALYSIS
From the above survey we find out that customers expect a Tanishq boutique in New Alipore which is a conventional shopping hub for the local residents. Also a huge chunk of customers prefer shopping of garments once in three months. From the survey, we also find that a huge chunk of customers from Behala and New Alipore come to the boutique of Camac Street and Gariahat to purchase jewellery, 12% and 21% respectively. Now if a new store is being opened at New Alipore, these dedicated customers will stop coming to Gariahat and Camac Street, thus reducing the sale value of these two boutiques.
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After doing the survey, I also found out, a huge number of customers are dedicated buyers of the local brand named PC Chandra. Without being named, they gave a feedback that Tanishq jewelleries though are pure but quite costly. On the other hand PC Chandra is giving the same quality at a much lower price. Their making charge is as low as Rs 85 per gram as against Tanishq range which costs at RS 95 to 145 Rs per gram. These customers can be targeted by opening a new store in New Alipore and also giving attractive discounts on making charge. An effort should be made through aggressive marketing with the help of media and other processes such as Telecalling, Leaflets, Banners, Posters etc. No nook and corner should be left untouched to get into customers mind and make them feel that if they have to buy jewellery, Tanishq is the only option. Customers think twice before they go to a Tanishq showroom because of their perception that the price range is quite high which they cannot afford. This perception needs to be changed through attractive discounts and value added service which will make them unique in the jewellery market, thus opening up other avenues to the customers. The way PC Chandra is making its presence count in West Bengal through marketing and increase of stores is alarming, and Tanishq needs to find a way to surpass their marketing tactics fast to capture the Rs 5000 crore jewellery market. The survey is accepted by the Regional Manager Tanishq, Mr. Dwaipayan Sen and it will be sent to the corporate office in Bangalore. Mr. Govindraj VP Retails and Marketing will take a decision, exactly when to open the store, calculating the cost structures. They have a plan to open the store by the year end as per the latest news.
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LIMITATIONS TO THE STUDY

1. Non response by the residents is cropping up as a serious problem. Most of the people are refusing to answer the questions and whatever little information they are imparting are insufficient. 2. Questionnaire seemed to be a long one to be fully filled up by the respondents. The length of the questionnaire demotivates them and moreover they do not have time to answer the entire question.
3. Afternoon is also a total wastage as during this time hardly anyone is willing to attend any survey. 4. Most of the respondents refused to answer the question Where do you go for jewellery purchase? The reason for refusal is mainly because it demanded detailed information from the respondents which caused them irritation. People were not willing to write their name and address in the questionnaire. 5. Time is a very big constraint. In four days survey is not complete to give a clear picture of whether or not opening of a Tanishq boutique will be profitable.
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Tanishq And The Great Indian Wedding A RESEARCH

TRADITIONAL management theory owes its origin to the West. Theories like `core competence' and maxims such as `stick to your knitting' owe their beginnings to the environment in which they were conceived. They have been conceptualized in mature economies that struggle with minimal growth. And they have considerable relevance there too. And yet India (and China too) is different. These economies are booming. To succeed here, one needs thinking and execution that are significantly different. Insights into the consumer in nations with over a billion people. While mature economies were losing their fascination with brands and branding, India in the Nineties was just savoring the pleasures and reassurances of quality that branding provided. Commodities such as salt, sugar and rice were being branded and Titan said, "Why not jewellery?" and that led to the launch of Tanishq. Ten years later, Tanishq is a Rs 725-crore brand, growing cumulatively at over 30 per cent over the last few years. And if that isn't a fairy tale success story, one wonders what is.
The Tiffany's of the East

Tanishq did not have a great start, though. It was party wear, nightwear, for liberated women, well-designed certainly, but ahead of its time. The market reaction was lukewarm. But Tanishq, all said and done, was from the Tatas.
The cornerstone of the Tata brand has been, and will always be, trust. In an industry which had jewelers who were capitalizing on the consumers' gullibility, Titan realized it could capitalize on its own ethical practices and expose some of its less ethical competition through its karat meter and its advertising which planted doubts in consumers' minds, with ads like, "Are you sure your gold is pure?" That definitely created a stir in the market and
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more significantly in the consumer's mind. The consumer stopped to think, and more importantly, buy - Tanishq. Nor was this all. Tanishq quickly used its knowledge of the Indian consumer and retailing to extend its franchisee network through the length and the breadth of this country. The traditional jeweler dominated his neighborhood and hometown. Some jewelers have moved out of the safety of their own loyal set of local consumers. Tanishq also believes that retail consumer experience could be the key. Traditional jewelers, even as they display skepticism about this strategy, are quietly and quickly improving the ambience of their own stores. Nor has this been all. Tanishq has constantly improved its collection and jewellery range. Aria, a range inspired by the traditional seven-stone floral motif, Hoopla (diamond hoops), Lightweight Colors, Aamra and Aarka have followed each other to increase market share and lighten the consumers' wallet. And yet, it is important to remember that the jewellery market in India is Rs 55,000 crore and Tanishq, despite its healthy growth and high profitability, is a small player. This, of course, is the typical case of the glass being half empty or half full and how one views it. Tanishq, one believes, views the situation extremely positively and believes that it is sitting on a potential gold mine.
The changing consumer

One of the key questions any brand needs to ask is, "Who is our key consumer? To whom are we talking?" Tanishq has clearly realized that the Indian woman is changing. And how! She is far better-educated, is working, lives in a nuclear family in a structure that is far more liberal and leads a high wattage life. She has legitimate space for herself.
She is no longer satisfied with playing pre-defined rigid roles of sister, mother, wife but is choosing her own role and playing it the way she wants to. As a consequence she is
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retrieving space (that she believes genuinely belongs to her) without conquering it. She is using tradition rather than being used by it. Yes, the `I factor' works for the Indian woman and this is what Tanishq attempts to address in its advertising and its product offerings too. And that's the twist to the traditional Indian woman. She is traditional alright ... will act out multiple roles that are required of her - but is an individual in every sense of the word. She will do her own thing - quietly. And this is the potential bus that the traditional Indian jeweler might miss, used as he is to people buying jewellery coming to the outlet in a large group - mother-in-law, father-in-law, daughter-in-law, husband, children in tow - diffusing the power of the individual. But Tanishq believes in the power of the individual. And probably that is the way to go.
Back to tradition
Perhaps the most significant shift in Tanishq's marketing strategy has been in its product line. From what was essentially `western wear it moved to `party wears' and then to `jewellery watches' and now has progressed to more serious, traditional stuff. Because of the realization that when it comes to jewellery, the Indian woman, despite all her modernity is pretty traditional. She prefers gold and will buy it, like her mother did before her. But unlike her mother who might have bought it as an investment, she buys it as an adornment. She knows the value of festivals such as Dhan Teras and the importance of weddings in the Indian milieu. She will know that she is going to be watched and evaluated. She cannot afford to be seen as flippant. This is the subtle change in Tanishq's product offering. It's a lot more traditional - like the line created for the movie Paheli. Tanishq also realized that India buys heavily during the wedding season. And its collections and range are gearing up for this great, big opportunity in the Indian market.
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Twist and turns ahead

Notwithstanding its success, people continue to buy from traditional jewelers. Jewelers such as GR Thanga Maligai, Krishniah Chetty, Ganjam and Tribhovandas Bhimji Zaveri have their own set of loyal customers who buy regularly and in large volumes. Their strength is that they know their consumer intimately, for generations. This, they believe, is their distinctive difference. Tanishq knows its limitations. It is easier to have an overview of broad consumer trends and capitalize on opportunities that present themselves rather than worry about a small group of customers, as valuable as they may be, as they are reasonably loyal too. And yet the pot of gold could be in the young `double income and no kids' Indian family which doesn't think twice about buying expensive designer jewellery for Rs 20,000. Advertising and imagery helps, though a contemporary product line doesn't hurt either. And one suspects that while Tanishq may currently be scoring in the smaller towns where its competition is not so well entrenched, it must win share and customers from the big traditional jewelers in Mumbai, Delhi and Chennai. Yes, people will continue to buy jewellery and with increased affluence - lots of it. Tanishq, a decade after its founding, is poised to do even better. And the pampered Indian consumer is just waiting, wallet open, to be served.
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Analysis of Akshay Trithiya Media Tracking Survey No of customers surveyed - 100

No of customers bought - 25 No of customers booked jewellery 75
1. Are you aware of the ongoing offer of Tanishq on Akshy Trithiya? Yes 85 No - 15
Awareness of AT offer
a) Yes b) No
15
85
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2. Are you planning to come back to buy gold or any other jewellery from Tanishq on Akshay Tritiya as well? Yes 75 No 25
people coming back for AT in Tanishq

a) Yes b) No
3 If you
.
b) No, 25
a) Yes, 75
would have purchased for Akshay Trithiya once again, what would have been the reason? a) Its an auspicious occasion - 30 b) Tanishq would offer attractive discount - 45
Reason for coming back to Tanishq
40% 60%
a) Its an auspicious occasion b) Tanishq would offer attractive discount
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4. You are making an advance booking for gold or any other jewellery on Akshay Tritiya from Tanishq because? a) Its an auspicious occasion b) Tanishq would offer attractive discount
Advance booking for AT in Tanishq
27%
a) Its an auspicious occasion b) Tanishq would offer attractive discount
73%
5. Have you seen the recent Tanishq TV commercial? a) Yes b) No
Customers knowing about Tanishq TV ad
38 a) Yes b) No 62
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Can you recall the communication/ Ad message, If yes kindly mention. Most of the customers are aware of the Tanishq TV ad which is going on. They were recollecting the purity of Tanishq Jewellery which is so very important for them for the auspicious occasion of Akshay Trithiya. They also recollected the ad of 19k=22k with Akshay Trithiya where Tanishq guarantees them with pure jewellery in place of impure ones. They immediately recollected the sas-bahu character featuring in the Tanishq ad of AT. Also we can see that out of 100 around 38 customers were still unaware of the ad. Some of them dont watch TV regularly is also an imp constraint. Most of the customers from Camac Street and Gariahat boutique know about the advertisement. Out of these 38 customers, most of them were giving the link up of the ad with Golden Harvest and subh vivaah collections. They were shown the ad and they told that it was the first time they were seeing. Any feedback/suggestion to enhance your buying experience with Tanishq during AT. Most of the customers were happy and satisfied with the buying experience with Tanishq. They were happy with the exclusivity which Tanishq is maintaining. Some of the customers expressed their concern regarding the price range of Tanishq and hoped that the company will drop the price range in future. Also two three customers expressed their desire that Tanishq should also have exclusive designs on earring collection.
The Survey is being accepted by Mr. Govindraj, VP Retails and Marketing and they have accepted to increase their reach among the customers by increasing their expenses in advertising.
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Implementation of the proposed strategies in current financial year for the company and to increase the profit.
Organizing road shows in the areas of Purulia, Chandannagar,Haldia Marketing tie ups with famous sari shops in Calcutta like Traders Assembly, Benarsi Kuthi, Simaya, Belong where purchasing of wedding saris are common among the customers. Opening up of new boutique of Tanishq in the areas of New Alipore, Behala and doing a market survey with the help of questionnaires.
Tanishq Anmol Saheli

Celebrate the unique mother daughter bond with Tanishq Tanishq, Indias most innovative jewellery brand, in association with Prabhat Khabar will be organizing a novel co-authored letter contest for mothers and daughters. Only a mother shares the most intimate bond with her daughter. This bond is irreplaceable and precious. In time she becomes her daughters best friend, an unconditional friend, who understands everything without having even to say it. She constantly worries about her
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SUMMER INTERNSHIP PROJECT precious daughters future and how she will face the challenges life has to offer. This unspoken bond between the two only grows stronger each day, even when her daughter gets married and move on to another phase of her life. Starting from 11.3.07, for a period of three weeks, all mothers and daughters in the city can write and share these amazing moments in few words with anecdotes, heart warming experiences and emotion that define this incomparable relationship. A few exceptional letters will be short listed everyday during the three week period. The most interesting coauthored letter of the day will be published in the Prabhat Khabar.
The contest will culminate in a celebration for the participating 101 mothers and daughters on 27th March. One grand winner will be chosen from amongst the short listed entries. The popular mother and daughter duo by Mrs Kiran Kher, the renowned actor will present the winning mother daughter duo with precious Tanishq jwellery.
Result Of The Tie-Ups VIP Industries Limited Contact Person:- Mr Jaydip Gupta Designation:- Branch Manager Points Discussed:- 1) To form a consortium where in the companies
participating will target the Calcutta wedding market. 2) To promote this co-branding from Tanishq so that the customers can have a complete wedding shopping experience under one umbrella. 3) Customer exchange program will be practiced. 4) Attractive schemes will be given to the customers to be decided solely by individual companies. 5) Scheme will be continued till Puja if successful. 6) The offers will start from 20th of May approximately
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SUMMER INTERNSHIP PROJECT Result Of The Discussion: The meeting was successful as Mr Jaydip Gupta accepted to be the part of the consortium. He was appreciating the fact that Tanishq has taken such an initiative which the wedding customers can utilize during their shopping. He also said that he will talk to Globe Travels, a famous travel agent in Kolkata, to become a part of this consortium.
GODREJ LIFESPACE Contact Person:- Mr. Ruru Banerjee Designation:- Branch Manager Points Discussed:- 1) To bring Godrej Lifespace, a well recognized furniture
company into the consortium as lifespace items are common in wedding shopping. 2) Consortium will be formed such that there should be no competitors. 3) Customer Database has to be exchanged among the companies. 4) A mailer regarding this consortium has to be given to the matrimonials section of Ananda Bazar Patrika 5) What extra benefits Godrej will get by entering into the consortium? 6) What will be the common platform in the Advertisement? Result Of The Discussion: The discussion with Mr. Ruru Banerjee was not fruitful as they were not interested to come to the consortium. They cited the reason that they were already ready with a scheme of their own which is to be launched shortly. They did not want any more offers to be clubbed with their scheme of their own. They also wanted the customer database of Tanishq which was impossible for the company to part with.
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LG ELECTRONICS Contact Person:Roy Mr. Suvadip Burman
Designation:- Institutional Manager Points Discussed:- 1) As consumer electronics brand LG has a lot of respect
among the customers. 2) The wedding season coincides with the summer season, so customers buy lots of goods like AC, Washing Machines, Refrigerators, a good bargain for the customers. 3) They will give attractive discount rates to the wedding customers. 4) The consortium formed by Tanishq is unique and will definitely help the customers in giving a complete wedding shopping experience. 5) No competitors will be allowed in this consortium. 6) If successful the scheme can be continued till Puja.
Result Of The Discussion: Mr. Suvadip Burman Roy was very happy to come to this consortium where so many recognized brands are participating. He expressed his desire to participate in future also and gave a Thumbs Up to this venture.
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SIMAAYA Contact Person:- Mr. Mayank Agarwal Designation:- Owner Points Discussed:- 1) What benefit Simaaya will get if they come to a
consortium? 2) Being an exclusive boutique for wedding sari collection, Simaaya wants to target the Calcutta market competing with the traditional sari shops already existing like Traders Assembly, Adi Mohini Mohan Kanjilal. 3) The scheme will have to be only for Calcutta as the dont have outlets outside Calcutta. 4) Customer Exchange program will have to be practiced.
Result Of The Discussion: Simaaya agreed to be the part of the consortium as an exclusive boutique for saris. Since they were established in Calcutta just three years back, they were happy to be associated with brands like LG, Tanishq, VIP.
Talks are still on with the representatives of BATA and Raymonds. Titan and Sonata, already being a member of the TATA group will be also joining the consortium. The proposal is already given to Bata and Raymonds about the consortium and they will revert back to us shortly once they are finished taking a decision. A deadline of 17th May has been set for the closure of the initial
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SUMMER INTERNSHIP PROJECT discussion period and from the very next day onwards we will start printing with the coupon book. The following decisions are taken about the coupon book. 1) The total number of coupon books to be issued will be around 1Lakh initially. 2) All the participating brands are invited to send their artwork by 18th May. 3) All the participating brands are asked to call upon their vendors for the printing process and submit a quotation. 4) The best quotation will be awarded with the printing process of the coupons. 5) The amount paid by each brand will be solely based on number of coupon books they are taking.
6) The printing process will start by 19th of May and they will be available to the stores by 25th of May. 7) If successful the offer will be continued up to Puja.
Road Shows
Till date around four road shows are organized by Tanishq. They are held in Haldia, Purulia and VIP Enclave, opposite Big Bazaar in Baguiati and Manjulika Apartments near Ballygaunge Phari. All the three boutiques in Calcutta have taken part in one or the other road show, thus increasing the sale by a considerable amount. This ultimately increased the brand value of Tanishq among the customers as not only attractive discount was offered but a gettogether was also there among the residents of VIP Enclave and Manjulika Apartments. They were very happy with the initiative taken by Tanishq and promised to be a part of Tanishq family henceforth. Thus these road shows are a big success. Also Tanishq celebrates the auspicious occasion of Akshay Trithiya, Womens Day, Mothers Day where the company binds with its customers emotionally which ultimately helps in the upliftment of the brand value of Tanishq. Customers are more eager to come and shop atleast something in the boutique to celebrate these auspicious occasion. Further two road shows are in the pipeline, one again in Purulia, One in Rishra. We hope that it will also be a success like the previous shows which accumulated a sales value of over 50 Lakhs. We expect to surpass this figure by the end of these roadshows and our target is over 60 lakhs.
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MINUTES OF THE CALCUTTA MEETING HELD ON 20/03/2007 AT ROE(TITAN) Members Present: Souporna Chowdhury (store manager- Fort Knox) Sagorika Hazra (store manager- Kankurgachi) Nilanjana Roy (store manager- Gariahat) Dwaipayan Sen ( Regional Manager) Indranil Bhattacharya (HR head) Kanchan Roy ( IT Head) Santosh Kumar ( VM Head) Pramit Basu
Approx Total sales as of Feb end: CAL1 - increase by 63% CALK- increase by 38% CALG- increase by 82% Over all Kolkata Growth : 58% Gramage growth is around 8% for kolkata PJWs Growth is around 17.5%.
PLAN FOR AKSHAY TRITHIYA

Offer starts from 6th April----- 10% off on making charge 5% off in advance booking However exact offer to be communicated by corporate.
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Tentative ads to be published in leading dailys ABP-- 6th and 13th April TT -- 7th and 14th April Sanmarg--6th and 17th April Bartaman 16th April Statesman17th April Radio Partners ----- BIG 92.7 FM 106.8 Amar FM - we will try to promote it from 6th to 17th Aprill.
Post Cards required for AT. Cal 1 -- 1000 ( 800 in English and 200 in Bengali) CalK 250 in English Cal G 1000 in English We will also try to print double fold invitation card for Poila Baishak & AT 100-125 in Cal1 50- 75 in Kankurgachi 100 in Gariahat Paper Inserts for AT-- 10000 in Gariahat 5000 in Camac Street All the inserts will have all 03 address of Calcutta, Calk doesnt require any inserts. Permanent Hoardings-- existing in Camac(2), Gariahat(1), City Centre(1) Proposed in 2-3 months--- Tolly Metro (to cover wedding) Rashbehari 4no Bridge in Park Circus Ultadanga Shyambazar Manicktalla Metropolis Kankurgachi BANNERS---- -20 for Calk South-(G and Ca) 30 Telecallings will be done from each store during AT .
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POILA BOISAKH
Greeter- 1 each for 3 stores for 14th Aprill. Telecalling from store Giftjewelry box approx 75 Rs. Souparna to close on Poila Baishak Day only to all purchasers. All the RSO will wear Bengali Traditional dress on that day.
WEDDING
Wedding scheme may be promoted from 21st Aprill to June Tie ups with sari shops like Traders Assembly, Simaya, Benarsi Kuthi, Priyo Gopal Bishoi, Indian silk house. Etc Promit to coordinate with Store Managers & close the same latest by 2nd Aprill. Tie ups VIP, Aristocrat, American Touristar, Godrej Storewell- Anirban will do. Making charge starts from Rs.80 can be highlighted during this period a proposal which was discussed will consider it for atleast in Press AD. Wedding ads to be planned later. Mailers to Bartaman and ABP to the bride /groom advertisers- mailers to be drafted by Anirban / Promit. We will give some gifts to the persons coming with those letters. Tie ups with marriage halls like Millennium and Singhi Palace.- promit & souporna
Road Show: Road shows in Behala by Cal 1 and G Road shows in VIP terrace by Cal K on 1st week Aprill Road show in Manjulika on 25th March and 1st April by CalG
IT Requirement mainly AT
Fort Knox: 2 extra printers and 2 extra computers required. 1 set will be for advance booking for Akshay Trithiya Kankurgachi: Requires a LAN and 3 point billing system Kanchan to visit the store & confirm Gariahat: Additional printer required.
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MANPOWER
Fort Knox: 2 Greeter +2 commercial for AT Kankurgachi: Gariahat: 2 RSOs immediately + 1 cashier - permanently 1 RSOs temporary for Aprill 1 commercial help SALES target for AT: Camac Street: 150 lacs Kankurgachi: 125 lacs Gariahat: 100 lacs Target : for April: Cal1 300 lacs CalK 250 lacs CalG - 200 lacs 2 RSOs for 1 month 2 RSOs permanent + 1 commercial for AT
`
60% drop out case for ECS . To be looked after. Building Blocks for Aprill to be worked out by the Store Managers. Lights are poor in Gariahat, jewelry hardly visible. To be sorted by Santosh. Similar decorations to be maintained by 3 boutiques in all the occasions. Relationship calling to be commenced by the 3 boutiques. 1. 200 by Souparna 2. 150 by Sagarika 3. 150 by Nilanjana IDEA PLUS by RSOs to be worked upon.
Result: Akshay Trithiya was a big success to us as Calcutta grew by over 150% as
compared to last year. All the employees as well as the RSOs put a huge effort towards the success of the event and kudos to them for achieving the target.
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A Research Analysis On Indian Jewellery Market

Based on last financial years performance, key result areas for Tanishq is prepared. It gives a look into the present Indian jewellery market and the place which Tanishq holds in it as a branded jewellery market. An in depth analysis has been made with the help of facts and figures. Tanishq emerges as the best known brand with the highest awareness and recall. The difference between the leaders and the followers is always greater when the former have a head start. And when the pace and efforts of the leaders intensify, the possibility that they will continue to be at the top is a foregone conclusion. The Survey shows that Tanishq is the best known brand across the three cities of Mumbai, New Delhi and Bangalore, a finding which lends credence to the leadership factors. More than 65 per cent of the target audience had no hesitation in coming up with the name, proving that the extensive branding exercise undertaken by Tanishq (a division of the Tata group company, Titan Industries) has paid off well. Two decades in the business, over 70 retail outlets across the country and pioneering efforts to make jewellery buying into an unforgettable shopping experience - all these factors combined to make the brand into a household name.
India's Top Ten Best Known Jewellery Brands( entries per 100)
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What Did Women Really Buy? An interesting question is whether there is a difference in what women consider as India's best brands and what they finally opt for. Quite naturally, price structure and affordability are in conflict with aspirations. However, there has been little or no difference observed in our target group in their choices. This may be because most jewellery brands have a varied price range that caters to women belonging to different segments of society. Even in a high-profile brand at least a few lines are made affordable to most people. Thus, the toppers in the best known category come up trumps even here .
Entries per 100
When Do Women Buy Jewellery?
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SUMMER INTERNSHIP PROJECT If you thought only weddings are big occasions for jewellery purchase, think again. The survey shows that festivals are a big occasion for this event. Of course, women also go on a buying binge when they have any extra cash, such as a bonus, etc. A surprising revelation in the TNS survey is that women also like to buy jewellery the most when they have to attend a wedding! Maybe, young women consider the purchase of jewellery for their wedding is their parents' worry! The other important factor is that (most) Indian women get married only once (!) and hence this expenditure, while remaining high, is curtailed to an once-in-a-life-time experience. Almost 33 per cent of the women surveyed purchased jewellery once in six months or a year.
Entries per 100
Design Satisfaction among customers for Tanishq
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SUMMER INTERNSHIP PROJECT Indian designers can rest easy. A majority of women are quite pleased with the designs available to them. Only a miniscule number have higher expectations
Price Satisfaction Brand managers will find this irksome, to be sure. Considering the fact that most Indian manufacturers are bending backwards to create a wide price range to cater to all segments, a large number felt that the prices were not justified. There is an indifference among the majority of women on the price front. But the good news is that many of them did seem to be greatly happy with the prices.
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CONCLUSION
One of the key questions any brand needs to ask is, "Who is our key consumer? To whom are we talking?" Tanishq has clearly realized that the Indian woman is changing. And how! She is far better-educated, is working, lives in a nuclear family in a structure that is far more liberal and leads a high wattage life. She has legitimate space for herself. Perhaps the most significant shift in Tanishq's marketing strategy has been in its product line. From what was essentially `western wear it moved to `party wears' and then to `jewellery watches' and now has progressed to more serious, traditional stuff. Because of the realization that when it comes to jewellery, the Indian woman, despite all her modernity is pretty traditional. She prefers gold and will buy it, like her mother did before her. But unlike her mother who might have bought it as an investment, she buys it as an adornment. She knows the value of festivals such as Dhan Teras and the importance of weddings in the Indian milieu. She will know that she is going to be watched and evaluated. She cannot afford to be seen as flippant. This is the subtle change in Tanishq's product offering. It's a lot more traditional - like the line created for the movie Paheli. Tanishq also realized that India buys heavily during the wedding season. And its collections and range are gearing up for this great, big opportunity in the Indian market. Tanishq knows its limitations. It is easier to have an overview of broad consumer trends and capitalize on opportunities that present themselves rather than worry about a small group of customers, as valuable as they may be, as they are reasonably loyal too. And yet the pot of gold could be in the young `double income and no kids' Indian family which doesn't think twice about buying expensive designer jewellery for Rs 20,000. Advertising and imagery helps, though a contemporary product line doesn't hurt either. And one suspects that while Tanishq may currently be scoring in the smaller towns where its competition is not so well entrenched, it must win share and customers from the big traditional jewelers in Mumbai, Delhi and Chennai. Yes, people will continue to buy jewellery and with increased affluence - lots of it. Tanishq, a decade after its founding, is
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poised to do even better. And the pampered Indian consumer is just waiting, wallet open, to be served. Titan and Tanishq jewelry was awarded the most admired brand awards for the fourth time in a row in the Jewellery and Timewear segments at the 5th Annual Lycra Images Fashion Awards (LIFA). Titan and Tanishq were also awarded the Retailer of the Year awards late last year, a double whammy for star performers in the respective branded segment. Timex, Movado, Citizen, Asmi, Sangini and Kia were the nominees for the awards in the Timewear and Jewellery category. Kudos to Tanishq for its innovative marketing approach and the internal bond with the customers.
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RECOMMENDATION
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REFERENCES
Marketing Management by Philip Kotler Marketing Strategies by Al Ries www.tanishq.in
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SUMMER INTERNSHIP PROJECT

BY PRAMIT KUMAR BASU

SUMMER INTERNSHIP PROJECT

CONTRACT: TITAN INDUSTRIES LIMITED

SUMMER INTERNSHIP PROJECT

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ABSTRACT OF THE WORK

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Learning the ropes

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A war in the offing?

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Customer Policy Of Tanishq

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Consumer Decision Making - A Simple Model

Product, promotion, price, place/channels Consumer decision making

Consumer decision making

Motivation, perception, learnings, attitude

1.Need recognition 2.Pre-search 3.Alternatives

SUMMER INTERNSHIP PROJECT

TANISHQ IN WEST BENGAL

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New Store Opening In Behala\New Alipore A SURVEY

Camac Street - 18 Others 26

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Once in a month - 36 Once in 3 months - 47 Once in 6 month - 28 Others 25

Others 17% Onc e In 6 Months 19%

W eekly Onc e 9% Onc e in a Month 24%

W eekly Onc e Onc e in a Month Onc e In 3 Months Onc e In 6 Months Others

Onc e In 3 Months 31%

SUMMER INTERNSHIP PROJECT

Q3. Do you go to branded showrooms like? Adidas RBK Sony 6 12 14

No of pe ople going to brande d showrooms

21% 16% 12%

Adidas Colorplus PC Chandra

RBK Raymonds Tanishq

Sony Titan No Response

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Tanishq Showroom In Be hala/Ne w Alipore

27% YES NO 56% 17% No Res pons e

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Customer's preferance for Tanishq showroom

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LIMITATIONS TO THE STUDY

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Tanishq And The Great Indian Wedding A RESEARCH

The Tiffany's of the East

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The changing consumer

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Twist and turns ahead