Tanishq started in 1995, pioneered the concept of branded jewellery. The initial product range was Westernized. Tanishq did not do well for the first few years. It changed the focus to domestic market with more traditional designs.
Tanishq educated the consumers on checking for purity of gold and introduced the Karatmeter. Purity of Gold, trust, honesty are strong associations and has earned a high brand equity. Tanishq has grown in a large scale since then and as of now has 230 stores in 120 cities of India.
Tanishq still has room for growth as the jewellery industry is still largely unorganised, they can leverage on the brand equity to expand globally.
Tanishq has a wide range of product and the focus till today is still…show more content… Tanishq still does not sell online jewellery under solely Tanishq brand name.
Tanishq’s TVC’s are bold, educating and speak to the target consumers. But needs to improve as it lacks in engaging consumers, followers on the social platform. It needs more creative, original and separate content for Fb, Instagram, Twitter, Pinterest. Tanishq has done well on YouTube with good, appealing, different…show more content… It suffered losses for the first few years but took corrective actions and made its first profit in 1999.
"When we started out we didn't think that we could achieve this, but now being jewellers to the nation doesn't seem so distant." - Tanishq COO, Vasant Nangia, in March 2000, Tanishq – ICMR 2010, The Turn Around Story, Case Studies and Management Resources, http://www.icmrindia.org/free%20resources/casestudies/Tanishq%20The%20Turnaround%20Story1.htm, accessed on 11th January 2018.
Jewellery market in India is dominated by located jewellers and jewellery is custom made from traditional family jewellers. Thus, Tanishq had to change the perception and preference to buying readymade jewellery.
Its initial brand positioning as elite, modern, contemporary and westernized jewellery, made from 18K gold did not go well with Indian consumers who preferred traditional, antique looking jewellery. The consumer tastes differed considerably between the diverse Indian states. Tanishq re-positioned itself, changed focus to the domestic market and made different products for each state as per the local