NAME:Abdul Moiz

62394

Assignment

Questions

1.Discuss the marketing mix of Tanishq in detail?

Tanishq is a popular Indian jewelry brand that has been in the market for more than two decades. The
brand has been successful in creating a niche for itself in the Indian jewelry market, by offering unique
designs and high-quality products.

1. Product: Tanishq offers a wide range of jewelry products that include gold, diamond, platinum,
and silver jewelry. The brand is known for its intricate designs, quality craftsmanship, and
attention to detail. Tanishq's products are targeted towards middle and upper-class customers
who are looking for premium jewelry.

2. Price: Tanishq's pricing strategy is premium pricing. The brand prices its products higher than its
competitors due to the quality of the products and the brand value it holds in the market. The
company offers different price ranges for its products, targeting customers of different income
levels.

3. Place: Tanishq has a widespread retail network in India with more than 350 stores in over 200
cities. The brand also has an online presence, which makes it convenient for customers to
browse and purchase products from the comfort of their homes.

4. Promotion: Tanishq's marketing and promotion strategy revolves around creating a strong brand
image and emotional connect with customers. The brand often uses television, print, and digital
media for its advertising campaigns. Tanishq also collaborates with popular Bollywood actors
and actresses to promote its products. The brand has also launched several social media
campaigns to connect with its customers and increase engagement.

5. People: Tanishq has a team of experienced and knowledgeable employees who are well-trained
to provide excellent customer service. The brand also invests in its employees' development and
training to ensure that they have the necessary skills and knowledge to assist customers.

6. Process: Tanishq's processes are designed to ensure a seamless and hassle-free customer
experience. The brand has a user-friendly website and a well-trained customer service team that
assists customers with any queries or issues they may have.

7. Physical evidence: Tanishq's retail stores are designed to create a premium and luxurious
shopping experience for customers. The stores have a sophisticated and elegant look, and the
products are displayed in a visually appealing manner. The brand also provides certificates of
authenticity and purity for its products, which adds to its credibility and reliability.

Overall, Tanishq's marketing mix has been successful in creating a strong brand image and establishing
its position in the Indian jewelry market. The brand's focus on quality, design, and customer service has
helped it create a loyal customer base and drive sales growth.
2.Discuss in detail the market offerings and Target Market of Tanishq.

Tanishq's market offerings are designed to cater to the traditional Indian aesthetics and cultural
sensibilities.

Market Offerings of Tanishq:

1. Gold Jewelry: Tanishq offers a wide range of gold jewelry, including rings, earrings, pendants,
necklaces, bangles, bracelets, and chains. The brand uses 22kt gold in its jewelry, which is of
high purity and quality.

2. Diamond Jewelry: Tanishq offers a vast collection of diamond jewelry, including rings, earrings,
pendants, necklaces, bangles, bracelets, and nose pins. The diamonds used in Tanishq's jewelry
are of high quality and come with certifications from reputed laboratories like the International
Gemological Institute (IGI) and Gemological Institute of America (GIA).

3. Platinum Jewelry: Tanishq also offers platinum jewelry, including rings, earrings, pendants, and
necklaces. The brand uses 950 platinum, which is of high purity and quality.

4. Wedding Jewelry: Tanishq offers a wide range of wedding jewelry, including bridal sets,
necklaces, earrings, bangles, bracelets, and rings. The brand's wedding collection is designed
keeping in mind the traditional Indian aesthetics and cultural sensibilities.

Target Market of Tanishq:

1. Affluent Urban and Semi-Urban Indians: Tanishq primarily targets the affluent urban and semi-
urban Indian population who are willing to spend on high-quality and premium jewelry. These
customers are well-educated, well-traveled, and are aware of global trends and fashion.

2. Women: Tanishq's primary target audience is women who love jewelry and are willing to invest
in premium jewelry pieces. The brand offers a wide range of jewelry options for women,
including bridal jewelry, everyday wear, and office wear jewelry.

3. Weddings and Festivals: Tanishq targets customers during the wedding and festival seasons.
During these times, the brand offers special discounts and offers to attract customers. The
brand's wedding collection is designed to cater to the traditional Indian wedding market.

4. Gifting: Tanishq also targets customers who are looking to gift jewelry to their loved ones. The
brand offers a wide range of options for gifting, including gold coins, pendants, and earrings.

3.What were the major reasons behind the failure of Tanishq in the initial launch?

They experience some initial challenges when it was first launched in 1995. There were several reasons
for this, including:
1. Misjudging the market: At the time of its launch, Tanishq was positioned as a high-end brand,
targeting the affluent segment of the market. However, this strategy failed to resonate with
consumers, who were not willing to pay a premium for a relatively unknown brand.

2. Lack of trust: Trust is a critical factor in the jewelry industry, and consumers were initially
hesitant to trust Tanishq due to its lack of heritage and history. This made it difficult for the
brand to establish a loyal customer base.

3. Limited product range: Tanishq initially offered a limited range of products, which did not cater
to the diverse needs and preferences of Indian consumers. This resulted in lower footfall and
sales.

4. Ineffective marketing: The brand's marketing strategy was also ineffective, as it failed to
communicate the unique value proposition of Tanishq and differentiate it from other
established players in the market.

5. Discuss the brand’s value proposition and its USP that contributed to the success of the brand
with reference to the case?

Tanishq's value proposition and USP have been instrumental in its success. By focusing on the
modern Indian woman, offering a wide range of products,

The brand's value proposition revolves around its focus on the modern Indian woman who is
independent, ambitious, and has a distinctive taste in jewelry. Tanishq has positioned itself as a
brand that offers high-quality, contemporary jewelry that blends traditional Indian designs with
modern aesthetics. This has helped the brand appeal to a wide range of consumers, including
millennials and Gen Z, who are looking for jewelry that reflects their unique personalities.
The brand's USP lies in its ability to offer a wide range of products that cater to different
segments of the market. Tanishq offers jewelry in different price ranges, from affordable pieces
to high-end products that cater to luxury consumers. Additionally, the brand has been successful
in creating unique designs that are not available with other jewelry brands, thanks to its
talented team of designers who blend traditional Indian craftsmanship with modern design
sensibilities.
Another important aspect of Tanishq's USP is its focus on purity and transparency. The brand
has always emphasized the purity of its products, and all its jewelry comes with a certificate of
authenticity that guarantees the quality of the product. This has helped build trust among
consumers, and the brand has a strong reputation for integrity and honesty.
Finally, Tanishq's success can also be attributed to its innovative marketing strategies that have
helped it create a strong brand identity. The brand's campaigns, such as the 'Remarriage' and
 'Mia' campaigns, have been highly successful in resonating with consumers and building an
emotional connection with them.

6.Which marketing orientation(s) among the below is/are best suited to the case? Justify your
answer?

SOCIAL MARKETING CONCEPT

Three marketing orientations - market, product, and societal - are essential for Tanishq's success. By
focusing on the needs and wants of their customers, delivering innovative and high-quality products,
and aligning with India's cultural values, Tanishq can continue to attract and retain customers while
building a strong brand reputation.

Tanishq's product orientation focuses on delivering high-quality and innovative products that
are distinct from their competitors. Tanishq's market orientation focuses on understanding and
meeting the needs and wants of its customers. They offer a wide range of jewelry products,
including bridal collections, everyday wear, and luxury pieces. They have also adopted various
marketing strategies such as social media promotions, celebrity endorsements, and exclusive in-
store events to cater to different segments of their customer base.
Justification
Societal Orientation: Tanishq's societal orientation focuses on creating jewelry products that
align with the cultural values and traditions of India. For example, they have launched
collections inspired by Indian festivals such as Diwali and Navratri. They have also promoted the
idea of celebrating women's achievements and empowerment through their promotions and
campaigns.

6: What was the turning point for Tanishq? How was the brand able to create value and then capture
customer value?

Tanishq, a jewelry brand owned by the Tata Group, had a turning point in the early 2000s when it
shifted its focus from traditional jewelry to modern, contemporary designs that appealed to younger
customers. This was a significant departure from its earlier emphasis on heavy, traditional jewelry that
was primarily targeted at the older generation.

The brand was able to create value by identifying a gap in the market for stylish, contemporary jewelry
that was affordable and accessible to a wider audience. Tanishq's designers began to incorporate
modern motifs and techniques into their designs, and the brand started to use a range of materials,
including diamonds, gold, and silver, to appeal to different price points.
To capture customer value, Tanishq invested heavily in marketing and advertising to promote its new
range of products. The brand also expanded its retail footprint, opening new stores in malls and other
high-traffic locations, and investing in a range of digital channels to reach a wider audience.

In addition, Tanishq focused on delivering a superior customer experience, with well-trained sales staff,
a user-friendly website, and a range of after-sales services, including cleaning, repair, and customization.
By offering high-quality products, exceptional customer service, and an affordable price point, Tanishq
was able to capture customer value and establish itself as a leading jewelry brand in India.

7.Discuss the relevant actors/forces in the marketing environment of Tanishq and their impact on the
business. (Hint: Use the case information only)

Tanishq operates in a dynamic and challenging marketing environment, with several actors and forces
impacting its business. The brand's success depends on its ability to adapt to these changes and create
unique value propositions for its customers

Customers are the most critical actor in Tanishq's marketing environment. The brand's target audience
comprises middle-class and affluent customers who value high-quality jewelry with unique designs.
Tanishq has positioned itself as a premium brand, and its marketing efforts are focused on creating an
emotional connection with its customers.

Due date:3rd April 2023