4 Ps Of Marketing Product Variety Marketing Essay

Published Date: 23 Mar 2015

Tanishq designs and manufactures jewellery that is breath- taking, contemporary and yet has a tint of tradition. Recently, Tanishq has started producing diamond jewellery that is affordable and stunning.

The diamond jewellery includes collections such as: All Day Diamonds, Aria, Dewdrops, Tanishq Solo, and Dancing Diamonds etc. These collections come with a certificate of authenticity that states the karat age, color and clarity of the diamond.

QUALITY

Consistency in delivering on their promise - Tanishq promises superior quality jewellery. They claim and deliver the exact carats and weight that they promise. They have built its brand on trust. Tanishq now stands for quality and purity. Thus it has established itself as a highly ethical player in a market that was rated as having the highest incidence of under karat age (Bureau of Indian Standards).It maintains its quality standards in all its products wherever they are sold.

DESIGN

Widely acknowledged as a design leader, Tanishq is known for its ability to develop specialized design collections. Each piece of jewellery is designed by a team of award winning designers. Tanishq was recently adjudged the Most Admired Jewellery brand (for the third consecutive time). It has also been judged as the Images Retailer of Year in the fashion category. Positioned as '9-to-5 jewellery', the collection is stylish and modern and is designed to suit all forms of attire, western and Indian, casual and formal.

BRAND NAME

"Jewellery is one of the last great commodity frontiers in India; it has remained so because this market is very fragmented, very unorganized. Tanishq has successfully taken on the challenge of transforming this frontier into a reliable consumer space by bringing to it all the virtues and benefits that branding offers".

- Harish Bhat, CEO, Tanishq.

Tanishq was established in 1995 and within ten years it has become the largest and most desirable brand in the jewellery segment in India. They have constantly introduced new offering to their consumers and have come up with new innovativeideas. 

promotion

Tanishq is promoted by The Tata Group as a leading jewellery store brand in India , which competes with more than three lakhs jewelers who dominates the Indian market.

It has launched new collections at a quicker rate than its competitors, and conducted marketing promotions and fashion shows to enhance the shopping experience of consumers.

Tanishq, to set off competition, launched Jodhaa Akbar collection and managed to get lot of marketing hype. The collection is very pricey and suggested retail price is between Rs 25,000 to Rs 15Lakhs.

One of the company's most important initiatives was customer serviceenhancement. Tanishq launched a direct consumer contact programme andconducted surveys to monitor store walk-ins and footfalls and percentage of repeat customers.

The company also kept the entry-level price as low as Rs 600 (for a pendant) and offered a range , which far exceeded that offered by  any  other  jeweler

In 1999-2000 the communication and promotion budget was increased from Rs. 65million to Rs 100 million in 2000-01. A majority of this was spent towards advertising, while a portion was also earmarked for promotions tailored to match regional preferences.  

PLACE

Tanishq jewellery is crafted in one of the world's most modern factories. The factory complies with all labor and environmental standards.

Located at Hosur, Tamil Nadu, the 135,000 sq. ft. factory is equipped with the latest and most modern machinery and equipment.

Tanishq reached the century mark as it unveiled its 100th store in Patna at Hathwa Market. Having embarked on the retail journey a decade ago, Tanishq today is the largest jewellery retailer in India.

With a strong presence in 70 cities across India, unmatched collections and assured purity, Tanishq has quickly become the first choice of discerning customers.

Tanishq opened 30 retail stores during FY08, taking the tally to 130 stores. Currently, the average store-size for Tanishq is 1,000-1,500 sq ft. The stores operate on the franchise model.

Tanishq has undertaken several unique retail initiatives keeping in mind thecustomer demand for a world class shopping experience.

Besides catering to Indian consumers, Tanishq has successfully entered key export markets such as the US, the UK, the Middle East, Singapore and Australia. 

PRICING

Tanishq has large collection of pendants, fingerings and earrings in this range Rs 2000-5000.

Tanishq range of products starts at an accessible low of Rs.600 and also the range - Solo, Diva ,Aria, Lightweights, Hoopla, Bandhan - comprises of wearable everyday jewellery sets which have been designed especially for the modern working woman.

Valentine's Day collection includes earrings, pendants and finger rings pricing from Rs. 2,000.

The Tanishq Daytime's collection of diamonds starts from an affordable Rs. 1,960. The collection blends traditional motifs in sleek contemporary lines with slight touches of black rhodium.

The 'up to 25 per cent' off offer by Tanishq is a unique opportunity. This attractive offer has been introduced to benefit the customers and provide them with the best price and product options.

Affordably priced from Rs 2,500/- onwards the Tanishq range of diamond  jewellery  is  the  ideal  accessory for the customers. This collection is crafted using a special process called electro-forming. The jewellery is targeted at customers who are looking for international designs, wearability and value for money. The new collection starts from a price range of Rs6,000 onwards and available at all Tanishq boutiques across the country.

Tanishq offers diamond and gem-set jewellery in over 6000 western, fusion and traditional designs. The Tanishq retail chain currently includes 112 exclusive boutiques in 75 cities, making it India's first and largest jewellery retail chain.