You are on page 1of 54

Project Report

(Submitted for the Degree of B.Com Honours in


Marketing under the University of Calcutta)

Title of the Project


BRAND MANAGEMENT OF TANISHQ

Submitted by
Name of the candidate: OINDRILA BANERJEE
Registration no : 043-1221-0033-12
Name of the college: HERAMBA CHANDRA COLLEGE
College Roll No: 1216
Supervised by
Name of the Supervisor: DEBASREE BASU
Name of the College: HERAMBA CHANDRA COLLEGE
Month & Year OF Submission
MARCH, 2015
1
Chapter no Chapter name
Acknowledgement

Annexure

Abstract

1. Introduction

1.2 Objectives

1.3 Brief Description

1.4 Literature Review

1.5 Research Methodology

1.6 Limitations

2. Conceptual Framework

2.1 Conceptual Framework in details

2.2 National and International

3. Analysis and Findings

3.1 Analysis of Data

3.2 Findings

3.3 S.W.O.T. Analysis

4. Conclusion and Recommendation

4.1 Conclusion

4.2 Recommendations

4.3 Bibliography

Sample Questionnaire

2
ACKNOWLEDGEMENT
I, Oindrila Banerjee, in my journey of making this project I must thank
University Of Calcutta for inclusion of this project task for us at this Under
Graduate level . This opportunity has provided us with a special skill, has added
vision and foresight and has enriched us as a better individual. This task has
benefited us in the journey as a student who aspires to become a Perfect
Graduate.

I express my deepest gratitude to our Prof. Debasree Basu for her invaluable
guidance and blessings. I am very greatful to our principal Prof. Indrani Mitra.

And last but not the least, we are thankful to our fellow classmates who made
valuable contributions and constructive feedbacks towards the completion of
this project.

3
Annexure 1A

STUDENTS DECLARATION
I hereby declare that the project work with the title: Brand Management of
Tanishq submitted by me for the partial fulfilment of the degree of B.Com
Honours in Marketing under the University Of Calcutta is my original work and
has not been submitted to any other University/Institutions for the fulfilment of
the requirement for any course of study.

I also declare that no chapter of this manuscript in whole or part has been
incorporated in this report from any other work which is done by others.
However, extracts of any literature which has been used for, has been duly
acknowledges providing details of such literature the reference.

PLACE: KOLKATA

SIGNATURE:

DATE: March 2015

NAME: OINDRILA BANERJEE


ADDRESS: 61/B,P.T.ROAD,KOLKATA-41
REGN.NO: O43-1221-0033-12

ROLL NO: 1216

4
Annexure 1B

SUPERVISORS DECLARATION
This is to certify that Oindrila Banerjee a student of B.Com Honours in
Marketing of Heramba Chandra College under University Of Calcutta has
worked under my supervision and guidance for her project work and prepared
the report with the title: Brand Management of Tanishq. The project report
which she is submitting, is her genuine and original work to the best of my
knowledge.

PLACE: KOLKATA

SIGNATURE:

DATE: March 2015

NAME OF THE SUPERVISOR: DEBASREE BASU

DESIGNATION: LECTURER OF COMMERCE

NAME OF THE COLLEGE: HERAMBA CHANDRA COLLEGE

5
ABSTRACT
The Summer Internship Program in Titan Industries Ltd. Started from 26th of
Feb 2007. The project is based mainly on the marketing strategies taken by
Tanishq.

In the financial year, 07-08, the methods are to implement them. The total
jewellery market in West Bengal is around Rs 5000 Crore and the 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 Sarkar and Sons, etc which are
wholly Kolkata based with the exception of P.C.Chandra which has divert edits
attention to rural areas of Bengal. Surprisingly these local prayers hold the bulk
of market share even though they donot promise 100% pure gold (22carats)
every time. The main aim of the project is to increase the customer based and to
spread the awareness among customers regarding the purity of the gold which is
guarranted from the house of Tatas.

One important aspect which is noticeable among the competitors is that they
believe in aggressive marketing which includes door to door marketing, tele
calling, leaflates, paper inserts which spreads the brand name to almost every
individual. They go upto such an extent that they allow their customers with
considerable amount of discount schemes and instalment payment options
which spread the goodwill among the mass.

Tanishq wants to hit in this area where not only got tested and certified
jewellery but the customer gets the long association with the company which is
rare amongst the competitors. Customers are being invited to any kind of shows
which Tanishq organizes and also they are allowed to share the ups and downs
of the company. In this respect, we organize the show Anmol Saheli chaired
by renowned Kiran Kher which salutes the immortal bonds between mother and
daughter. Tanishq, a decade after its founding is poised to do even better, and
the pampered Bengal consumer is just waiting wallet-open, to be solved.

6
CHAPTER1.
INTRODUCTION

7
1.1 INTRODUCTION
Tanishq is Indias largest, most desirable and fastest growing jewellery brand in
India. Started in 1995, Tanishq 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 a retail sales of
1200 crore last year and gunning for 2000 crore this year, Tanishq has arrived in
the Indian jewellery market. It is a story of a successful Indian enterprise, which
has delivered value to is customer and shareholders in a complex category,
marked by is completely localised fronts end as well as back end.

Tanishq has set up production and sourcing bases with through research of the
jewellery crafts of India. Jewellery at Tanishq is crafted in one of the worlds
most modern factories. The factory complies with all labour and environmental
standards. Located at Hosur, Tamil Nadu, the 135000sq.ft factory is equipped
with the latest and most modern machinery and equipment. Diligent care and
quality processes ensure that the Tanishq finish is unmatched by any oyher
jeweller in the country. Tanishq challenged the age old jewellers word with
TATAs guaranteed purity. Tanishq introduced innovations like Kara meter, the
only non-destructive means to check the purity of gold.

Tanishq also introduced professional retailing in the dis-organised Indian


jewellery bazaar, where women can shop with comfort and peace, without
worrying about the purity of the jewellery they are buying as well as select from
the best jewellery collection available in the Indian market. Tanishq today in

8
India is most aspirational fine jewellery brand with diamonds or coloured gems
and a wide range of equally spectacular jewellery in 22kt pure gold.

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

9
1.2 OBJECTIVES
To increase the sales of Tanishq especially in the segment of wedding jewellery
and to do are search on the customer buying behaviours. The objective is carried
on by the process of:

Organizing road shows in the potential areas like Purulia, Chandannagar


and Haldia.
Marketing tie ups with famous sari shops in Calcutta like Traders
Assembly, Benarasi Kuthi, Simaya, 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 Karat meter, 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
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.
3. Attain a level of customer satisfaction where our 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.

10
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

11
1.3 BRIEF DESCRIPTION
Jacob Kurian, chief operating officer(jewellery), Tanishq isnt tired of saying
that the story of his company mirrors a Bollywood movie.

Theres drama, celebration, then betrayal in the family, followed by action and,
of course, a happy ending.

Tanishq, the jewellery business group of Titan Industries is the blockbuster


action thriller from the Tata group.

After five years of consistent losses, the company, on Thursday, announced the
completion of a dramatic three-year turnaround culminating in annual sales
growth of 39 percent and profit growth of 318 percent.

During 2002-03, Tanishq recorded a sales turnover of Rs 389 crore(Rs 3.89


billion) at consumer prices. By 2007, it hopes to take that to Rs 800 crore (Rs 8
billion).

Today, Tanishq has already become one of the top five retailers in the country.
It contributes 40 percent to Titans business and is expected to account for 55
percent by 2007.

By then, Tanishqs profitability will also be good enough to offer 28 percent


return on deployment of 25 percent of the capital.

Sales

Year Sales(Rs crore)

1996-97 32

1997-98 38

1998-99 73

1999-2000 143

2000-01 188

2001-02 299

2002-03 389

12
Its a long way for a company that almost folded up before it could turn in its
first ever profit. Since, it launch, Tanishq has not only been grappling the tough
market conditions but also internal strife and Doubting Thomases.

In the late eighties, when India was facing a massive foreign exchange crisis,
Titan, the watches division, was told to look for a way to earn its own foreign
exchange.

Jewellery seemed like a huge and interesting market to get into and Titan
decided to set up Tanishq as a jewellery division that would be focused largely
on exports.

However, by the time it acquired the skills and set up the plant, the world had
changed. India no longer had a foreign currency problem, imports were easy to
come by, demand had come down in the global market, supply had grown in
Asia and margins had become very thin.

Tanishq then decided to focus on the Indian market. In August 1992 a pilot
plant was set up and production started in two years later. In 1996, Tanishq
launched its first store.

It was a hitherto untried concept. The jewellery business in India was highly
fragmented and ruled over by local players. There was no national jewellery
that people could buy from, despite that India is the largest consumer of gold in
the world.

Clearly, the local satraps had a very tight stranglehold on their markets and it
was difficult for a pan-Indian player to break into.

Being ethical too was a problem. Titan estimates that up customers and the
Government is defrauded of up to Rs 5,000 crore (Rs 50 billion) annually due to
unethical business practices like under-karatage of gold, misrepresentation of
quality and tax evasion.

As a company which was part of the Tata group, known for maintaining high
ethical standards, Tanishq prided itself on delivering customer value through a
fair and transparent business model.

But that wouldnt help.

13
Till 2000, tanishq could not find its feet in the market and its losses were
mounting. In 1998-99 it showed losses of Rs 10.40 crore (Rs 104 million)
though sales turnover was increasing.

May 2000 turned out to be the defining period in the companys history.

The then managing director of the company, Xerxes Desai had a choice
between Bhaskar Bhat and Vasant Nangia when it came to deciding who would
succeed him. Bhat won and was appointed as the next managing director by
Desai himself and Nangai became the chief operating officer.

Nangai was the hands-on man at Tanshq. A twenty-year veteran of the group,
he was the one who had charted out the expansion plans, which included
increasing the number of exclusive boutiques to 67 from the then 30 and
launching a new mens range of accessories.

But a day after Bhat was announced at the successor to Desai, Nangia quit. He
took along with him six senior executives of Titan. It was a blow that many
thought would sink the company.

Tanishq had its first showroom in Chennai in 1996. Today it has over 60
showrooms in 47 cities. Only six of these are owned by the company. The rest
are run by franchises. The model has helped take away capital costs from the
company and pass them on to franchises who will invest money to help the
company grow. In all, Tanishq managed to limit its fixed asset investment to Rs
27 crore (Rs 270 million).

Contribution to Titans growth

Year Tanishq contribution to Titan

1996-97 8

1997-98 14

1999-2000 24

2000-03 43

Post September 11 attack on the World Trade Centre, the volatility in the gold
prices led to a steep decline in the demand for gold. In 2002, the gold demand
declined by 19 percent, from 843 tonnes to 680 tonnes.

14
JEWEL IN INDIA
In the branded jewellery segment, Tanishq has established its leadership
position and built a person which is premium, stylish, exquisite and pure
Diamonds are a girls 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 womans eyes? The flash of diamonds! The glitter of
gold! The glorious glint of jewels! An Indian womans 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 added earrings and
probably nose rings to her jewellery casket. And when she gets married, she
receive as gifts streedhanwealth in the form of jewelleryfrom 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
neighbourhood 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 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 percent per year for the past five
years and has registered a turnover Rs. 1,000 crore in the current fiscal.

Its raining Gold Coins at Tanishq

Tanishq, Indias most innovative jewellery brand, today announced Free gold
coin offer, a unique campaign aimed at providing more value to customers.
This offer is valid till 23rd August 2009 all Tanishq outlets in Maharashtra.

Commenting on the offer, Mr. Sandeep Kulhalli, Vice President- Retail and
Marketing, Tanishq said, We at Tanishq always believe not only in being part
of every moment in our customers life through our innovative products but also
aims at rewarding our customers with greater value on their purchase. And this
gold coin offer is in tandem with this objective.

During this offer season, the customers get to choose from the exquisite range
of gold jewellery studded with diamonds like Every days/ Lightweight or can

15
indulge in the latest Glam Gold collection, a range of exclusive gold jewellery
with exquisite Kundan and delicate Jaipur wire work else have option of the
intricately designed Aleya or Aria collection. They can also avail the offer
from the wide array of equally spectacular jewellery in 22kt pure gold. Keeping
in mind the local tastes and preferences, there will be a wide repertoire of
regional designs in plain gold jewellery to choose from as well.

16
1.4 LITERATURE REVIEW
1. International Journal of Marketing Studies Vol. 2, No. 1; May2010
Hallmarking in India: The gold market in India is predominantly a market
for buying and selling physical gold and gold in the form of ornaments. In
the physical gold front, in the wholesale segment, nominated agencies are
the bulk importers. This market is reasonably efficient from the point of
view of distribution of bars and scraps over the length and breadth of the
country, which takes place in a very effective manner. Price uniformity is
also generally observable in areas with identical incidence of duties and
tax. However in the market for ornaments and jewellery, consumer
protection is still not assured, although it has received much policy
attention in last few years. It is well-known fact that cheating on cartage
is widespread. In April 2000, Government of India introduced voluntary
hall marking of gold jewellery through Bureau of Indian Standards. But
the progress in this regard has been slow so far with partial stocks of their
jewels hallmarked. IN this backdrop, a study was carried out to
understand the perception of customers purchasing gold ornaments and
their awareness levels on the concept of hallmarking by Bureau of India
Standards. Keywords: Jewellery, Hall marking, Cartage, Bureau of Indian
Standards, Chi-Square Test, CroosTabulation1. Prologue In India gold is
as much a thing to be possessed as it is concept.
2. International Journal of Marketing Studies www.ccsenet.org/ijms. Since
the price of gold was fixed, the gold jewellers tried to compromise on
purity of the jewellery. This came to attention of the Ministry of
Consumer Affairs in the late 1990s, which was concerned about the lower
purity of gold jewellery being sold in the Indian market under the guise of
higher caratage gold. The standing committee on gold and precious
metals at the Reserve Bank of India decided that an organisation with the
relevant infrastructure and competence should monitor and control the
purity of gold jewellery sold in India. As a result, January 1999, the
Bureau of Indian Standards (BIS) was designated as the sole agency to
operate a hallmarking scheme for gold jewellery. The quality and purity
of gold jewellery produced and to monitor any loss to the economy due to
the improper caratage.

17
3. International Journal of Marketing Studies Vol.2, No.1. 1; May 2010. To
analyse the opinions of the respondents on purity and hallmarking. To
suggest such measures that would help the gold merchants to serve the
consumers in a better way and the consumers be not cheated or mislead
by the jewellers or gold merchants. Basis of Data Based on the objectives
the study was carried out involving both primary and secondary data. The
primary data was obtained by administering a questionnaire to the
respondents to elicit information on various issues relating to purchases
made by them from retailers. The questionnaire was administered to a
sample of 285 respondents. The opinions were collected from 285
respondents at random covering different sections of people. This survey
was carried out when respondents are at different retail outlets, in
Vijayawada city. Secondary data was collected from different journals,
magazines and data from internet was also put into use.

4. International Journal of Marketing Studies www.ccsenet.org/ijms.


Occupation Vs. opinion on Variety and Range of Ornaments in Branded
and Chain Stores: the attributes occupation and opinion on the variety of
ornaments made available in branded outlets and chain stores have
association.
5. International Journal of Marketing Studies Vol. 2, No. 1; May 2010. A
vast group of respondents 68 percent stated that they purchase jewellery
from local merchants, goldsmiths, and only 9.4 percent stated that they
purchase from branded outlets like Tanishq. But 22.6 percent stated that
they prefer to purchase jewellery from chain stores. When customers are
asked to respond on whether they purchase ornaments ready-made or
place an order, a good number of respondents (68 percent) stated that
they purchase ready-made ornaments. With regard to quality/purity of
gold in branded and chain stores outlets a large group of respondents 79%

18
opined that quality is assured in the chain stores and branded outlets. It is
clear from the survey results that 33 percent of respondents stated that the
price of gold ornaments will not be high in branded and chain store
outlets. Only 17 percent opine it is satisfactory and 13 percent opined it is
poor. However, 22 percent stated that the variety and range is very
merchants 27 percent opined that they are satisfied, 18 percent opined
that it is good. But 9.8 percent stated the quality is very poor when
compared to large chain stores. A very large group of respondents 90
percent stated that they are aware of 916 KDM ornaments, while the rest
stated that they are not aware. From the survey, it is inferred that a large
group of respondents 81 percent stated that they are not aware of BIS
hallmarking, while 19 percent are aware of it.
6. International Journal of Marketing Studies www.ccsenet.org/ijms. As
ready-made purchases are on an upswing jewellers should maintain
stocks of finished items in their outlets. Consumers unless specific about
about a design they are ready to pick and pack the ornaments. Larger
malls and chain store should focus on price in their advertisements and
should educate the customer about taxes in the outlet. It is observed that
customers feel price of gold is high in the outlet when compared to price
in advertisements. The small outlets display a price per gram of gold and
reduce the price while calculating the price of the ornament. This is
leading to an amount of suspicion in the minds of consumers with regard
to price and quality. This should be avoided. Price should be same in a
given day to all customers for all types of models and designs of
ornaments. Consumers should also be educated about the difference 916
purity and BIS hallmarking of the ornaments. Efforts should be put in, in
the form of advertising by Bureau of Indian Standards, Chambers of
Commerce, Consumer organizations to educate the consumer about
hallmarking of gold ornaments.

Apart from festivals celebrated all over the country like Dussehra , Dhan
Teras , Diwali, Akshaya Tritiya, other regional festivals also should be given
due importance.. Other regional festivals include: Pongal, Vara Lakshmi
puja, Baisakhi, Onam, New Years Day, Muhurats (auspicious period for
wedding) and so on. As people purchase gold ornaments during these
festivals the marketers can come out with special designs, model sand
promotional to offers to win customers.

19
7) International Journal of Marketing Studies an invitation pay a visit to the
outlet to celebrate that special occasion with new designs and models of
ornaments. So the same greeting card will serve all three purposes. The
promotion and advertising activities carried out is progressing, the consumer
awareness levels must be improved and that a lot of promotion of the
hallmarking scheme is still required. The promotion and advertising activities
carried out is in a limited fashion due to various reasons. Good progress can be
made if the jewellers, the BIS and the public could work together. References
Aaker David A. (2002) Managing Brand Equity. The Free Man Press New
York. John G. Myers (1996).

8) International Journal of Marketing Studies Income levels Vs Purchase


Patterns of Respondents Income Levels Vs Purchase Patterns of Respondents
Asymp. Sig. Value df (2sided). The minimum expected count is 2.75.

20
1.5 RESEARCH METHODOLOGY
And exciting definition of research comes from the UK Market Research
Society, 2009 market research is defined as (one of the useful tools in business,
any business, it is the way in which organization find out what their customer
and potential customers need, wan and care about.

THE MARKETING RESEARCH MIX


The marketing mix is the useful devices; it can be molded, recreated, applied,
criticized, define, adapted, adopted, but most importantly, it can be remember.
The marketing mixed help in marketing planning , and therefore is an important
concept for the researcher.

In marketing there is a need for information, and an entire sector to serve user, it
may seem strange that research is not obviously part of marketing mix, let us
return to Jernob McCarthy who, when discussing Ps, made this observation
(1968,p33);

PRODUCT
PRODUCT PRICEPRI

PROMOTION PLACE

Figure: The Marketing Mix.

Marketing researcher is for the most part, testing the mix and, from this account
it is clear that research designed must adapt to accomodate numerous variations.
Let us not forget that the researcher has very many options. Sometimes these are
so numerous that we cannot consider the strength and weakness of all the many
possibilities without time, resources and debate.

Just as marketing has adopted the four Ps to help the decision, there are ways of
helping researcher to approach the complex area of designing in 2004, the
author develop a checklist, delivery intended to be similar to be marketing mix.
It was named the marketing research mix (or the MR mix) and also has four Ps,.
It was created for student and has been used in classes with success. Unlike the
marketing mix, these elements are sequences and they match the phases that to
be followed these four Ps are: population, purpose, procedure, publication.

21
There are two obvious application of the MR mix. The first is that the
framework offers a reminder of how to structure a programme of researcher
and arrival at a proposal.

Second application will come after research has been conducted; the mix allows
the results to be organized and questions to be asked about existing research;
results can be understood evaluated by key question about each other P.

DATA CAN BE TWO TYPES PRIMARY DATA OR


SECONDARY DATA
PRIMARY DATA
One of the most challenging tasks of the researcher is collecting original
information from the market place. Ther are many different methods used to
collect data, so the advantages and disadvantages of these must be fully
understood. Where data capture involves field interviews, the interviewing
skills are important. Where it involves using self-completion techniques,
everything must be done to make the task simple for the respondent.

Politcal, social, economic, technological developmental have a direct influence


on data capture the channels use to convey data from the field to the researcher
face to face telephone, postal delivery services, and online. Such mode of
communication makes it possible to carry out research to deliver the
instruments, and to retrieve records for processing and analysis.

SECONDARY DATA
Secondary data should from the basis of all research projects. It allows us to
refine our approach to collection primary data and it also answer our questions.
Desk researcher should for secondary data client organization and also outside.
Data is available both online and offline.

The internet
Government Sources
Academic Sources
Industry Sources

22
METHODS OF CAPTURING DATA
There are several ways to intercept or gain access to respondents. This can
be in person, on the phone, by post, online, or by other means. Generally
speaking, the choice of approach should mimic the activity which is being
measured. For example, an online method is the best suited to investigate
website opinions; a postal questionnaire is useful employed to investigate direct
mail shots, the telephone can be made, there are various ways to capture data.
We will explore a few of there. The situation can also vary;

1. In public places (for example on the streets)


2. In private places (for example at home or at work)
3. At the Interface between private places and public places (at the work)

In the given figure given an outline of the different data capture methods. The
term questionnaire has been to typify the research instruments, but we will
discover that the situation is more complex than this.

The different modes of data capture have an influence on any market research
study. The researcher is driven by three main constraints: The time available,
the cost and control. The second table shows how the four different models
match to these. Clearly the internet is faster and cheapest but it also has the
major limitation of being unable to exert any control over the respondent, a
weakness shared with postal methods. While the face to face, personal approach
is the most expensive, it does provide the research user with results of the
highest possible quality. Similar table 3 shows some typical response rates for
the main modes of interviewing. The most contentious figure is for internet
response rates: Practitioners who use the technique with specific populations
argue that their response rates are as high as 70%.

One solution to the problems created by short Snapshot methods of data


collections is the panel concept. The panel is a set of individuals who are
questioned or observed or who report over a period of time.

23
Table 1

Notable events for primary data collection


Year Event
1800s Photography invented

1930s Postal survey

1940s Telephone introduced

1950s Commercial introduction of computers

1960s Office computer available

1970s Bar codes introduce to retailing

1980s Personal computer launched

1990s Email, chat group, and message boards

Table 2

How methods may match of to research constraints


Fieldwork Cost Control
Personal 2-4 weeks Very high Very good
Telephone 1-2weeks High Good
Post 3-8weeks Medium Poor
Internet 1-7days Very low Poor
Table 3

Common response rates for the main modes of


interviewing
Mode of interviewing Common response rates Useful length
Face to face 60% 45 mins
Telephone 45% 20 mins
Postal 30% 4 sides
Internet 10% 30 question

24
An outline of data capture methods

By phone
Pre-notification to respondent
In person

By post

Questionnaire delivery By fax

By email or web or by
word of mouth

By phone

Questionnaire retrieval In person

By post

By fax

By email

Okkx

Ooo

By phone

In person

By post

By fax

By email

25
The three main questioning options for data venture

Personal
Personal Telephone

Po
Questioning

Self-
completion

26
Questionnaire:
The common method is done through designing questionnaires with a view to collect the requisite
information. The question can be classified into four main types-

1. Structured non-disguised
2. Structured disguised
3. Non Structured-Non Disguised
4. Non Structured-disguised
A structured question is a
1) A formal list of questions is framed so as to get the facts. The interviewer asks the
question strictly in account with a pre-arranged order. A structured question is one where
the listing of questions is in a pre-arranged order and the object of inquiry is revealed to
the respondent. Most marketing research studies use this question . In case of as disguised
questions the researcher does not disclosed the object of the survey, as the respondent on
knowing the objective of the survey may not give actual information.
2) A non structured question is one where questions are not structured and the order in
which they are to be asked to the respondent is entirely left to the researches. This can be
of two types again- disguised and non-disguised.

DESIGNING A QUESTIONNAIRE:
CRISP has very lucidly explained the different types of information
which are generally sought in marketing. The information could be
one of the following types:-
Facts
Quasi Facts
Awareness/Penetration of information
Opinions
Attitudes
Future Action Plans
Reasons

27
1.6 LIMITATIONS
Though we had taken up the research with a great enthusiasm,
a few days into the research, we felt that there were certain
hindrances that were in the way to a successful completion of the
study. These are appended below:

Population: Even though the research objective had been formed there were
question in my mind regarding selection of population- on whom the research
could be conducted upon- segment of the population that would opt for the
study, locations where one could find them, etc. were the questions that we had
to encounter so that we could frame the right kind of questions.

Weather: The weather had been very unpredictable in and around Delhi and
NCR, thereby affecting our research during those days. In the initial days, it was
the scorching sun which was taking up our energy when waited at places around
Delhi to get the questionnaires filled from the respondents. We had learnt a new
lesson, its not only water which drenches us, but the sun also has the muscle to
drench us.... not with water though. The heavy downpour, in some of the
locations in Delhi, drenched me from head to toe and we had nowhere to go we
were fortunate to find respondent even at this point in time.

1) Non response by the resident in cropping up as a serious problem. Most


of the people are refusing to answer the questions and whatever little
information they are importing are sufficient.
2) Questionnaire seemed to be a long one to be fully filled up by the
respondents. The length of the questionnaire demotivates them and move
over 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 questions 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 constrain. In four days survey is not complete to give a
clear picture of whether or not opening of a Tanishq boutique will to
profitable.

28
CHAPTER 2.
CONCEPTUAL
FRAMEWORK

29
2.1 CONCEPTUAL FRAMEWORK IN
DETAILS
Conflict- free gold is gold mined and refined so as not to cause, support and
benefit unlawful armed conflict.

The world Gold council has developed the conflict- free gold standard, an
industry led approach to combat the potential misuse of mined gold to fund
unlawful armed conflict.

Other organizations are developing integrated approaches, including the London


Bullion Market Associations Responsible Gold Guidance for gold refiner.

30
2.2NATIONAL AND INTERNATIONAL
SCENARIO
National Gold Market is known for being the most informative gold buyer that
offers cash for gold to the public. We do this primarily by being transparent and
opening communication for our customers. On our website you are able to track
your FedEX insured shipping delivery to us and internal processing when your
package is received, tested, and a quote is prepared. When a quote is ready, you
have the option to request detailed information on each item and can choose to
accept or deny items individually.

Gold firmed in early New York trading in reaction to an uptick in the U.S.
unemployment rate to 7.9%. The logic of course being that the rise in the
jobless rate puts it further rather than nearer to the Feds target of 6.5%, and the
likely removal of monetary accommodations.

Better than expected construction spending, manufacturing ISM and consumer


confidence numbers tempered the rally in gold somewhat, as did the significant
upward revisions to November and December nonfarm payrolls. While this is
all generally reflective of improving economic conditions, it all doesnt quite
jibe with the 0.1% contraction in Q4 GDP that was reported earlier in the week.

The Fed reiterated their uber-accommodative policy stance this week, noting
that economic activity had paused in recent months. However, the policy
continues to steal the show, driving the yen to new 2 year lows against the US
and Canadian dollars and the euro, as well as new 3-year lows against sterling.
Meanwhile gold has established new 32-year highs against the yen.

When these countries start experiencing some pain as the yen is devalued
against their currency, some retaliation is not out of the question. For instance,
the US auto industry already has its hackles up in opposition to the debasement
of the yen, which makes Japanese made automobiles less expensive on
international markets. If this situation detoriates into a full fledged currency or
trade war, things could get really interesting in the gold market.

31
CHAPTER 3.
ANALYSIS AND
FINDINGS

32
3.1 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.

1) Gender male -37

Female- 63

Gender

70

60

50

40
Gender

30

20

10

0
male female

33
2) Age
Below 20
20-40
40-60
Above 60

Age

50

40

30

20
Age
10

0
below 20 Age
20-40
40-60
above 60

3) Income
Below 20000
20000-40000
40000-60000
Above 60000

34
Income

50
40
30
20
10
0 Income
Income

4) Which is the most preferred location for you to shop?


Bowbazar- 34
Gariahat- 40
Behala- 32
Camac Street- 18
Other- 26

Location
45
40
35
30
25
20
Location
15
10
5
0
Bowbazar Gariahat Behala Camac Other
Street

35
5) 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 months-28

Others-25

Frequency

weekly once
once a month
once in 3 months
once in 6 months
others

6) Do you go to branded showroom like?


Adidas-6
Reebok-12
Sony-14
Raymonds-31
Colorplus-14
Titan-18
P.C-Chandra-24
Tanishq-18
No response-8

36
Brands
Adidas
Reebok
Sony
Raymond's
Colorplus
Titan
P.C.Chandra
Tanishq
No response

7) Will a Tanishq showroom here (New Alipore/Behala) will help you in


your Jewellery Purchase?
Yes-85
No-25
No response-37

Tanishq

Yes
No
No response

37
8) When do you want a Tanishq showroom in this area?
New Alipore-71
Behala-42
No Response-37

Area
80

70

60

50

40
Area
30

20

10

0
NEW ALIPORE BEHALA NO RESPONSE

38
3.2 Analysis of Akshay Trithia Media Tracking Survey

No of customer bought-25
No of customer booked jewellery-75

1) Are you aware of the on-going after of Tanishq on Akshay Trithia?


Yes-85
No-15

Column1
90

80

70

60

50

40 Column1

30

20

10

0
Yes No

39
2) Are you planning to come back to buy gold or any other jewellery
from Tanishq on Akshay Trithia as well?
Yes-75
No-25

Column1

yes
no

3) If you would have purchased for Akshay Trithia once again, what
would have been the reason?
Its an auspicious occasion-30
Tanishq would offer attractive discount-45

Column1

Auspicious occasion
Attractive discount

4) You are making an advance booking for gold or any other jewellery
on Akshay Trithia from Tanishq because?
Its an auspicious occasion-27

40
Tanishq would offer attractive discount-73

Column1

auspicious occasion
Attractive discount

5) Have you seen the recent Tanishq TV commercial?


Yes-62
No-38

Column1

yes
no

41
ANALYSIS AND FINDINGS IN DETAILS
From the above survey we find out that customer expect a Tanishq boutique in
New Alipore which is conventional prefers 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
boundaries.

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 other processes such as
Tele calling, Leaflet, 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
P.C.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 Rs5000 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
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.

When asked about the quality/purity of gold ornaments sold by local merchants
27 percent opined that they are satisfied, 18 percent opined that it is good. It is
clear from the study results that 65 percent of respondents expresses that the
local merchants in unorganized sector will sell jewellery at reasonable price.

42
The minimum expected count is 2.95. Consumer clubs can be started by the
outlets, where frequent purchasers will be made member free of cost. They can
be given a card and when the customer tenders the card at the time of purchase
of ornaments discount they can be extended a discount on the price on the price.

The small outlets display a price per gram of gold and reduce the price while
calculating the price of the ornament. This is leading to an amount of suspicion
in the minds of consumers with regard to price and quality. This should be
avoided. Price should be same in a given day to all customers for all types of
models and designs of ornaments. Consumers should also be educated about the
difference 916 purity and BIS hallmarking of the ornaments.

43
3.3 S.W.O.T. ANALYSIS
STRENGTH WEAKNESS
Purity (Karat Meter) Capture
Distribution network and retailing Escalated gold cost lower margin
store
Award winning designs.
Diversity in jewellery
gold/diamond/platinum.
Competitive prices
OPPORTUNITIES THREATS
Global Market Competition

Customized jewellery designs Lack of skilled workers


Concentrate on Gen-x by having Gold not seen as a sources of
trendy jewellery Investment (luxury is needed)
Expand retail Stores

Strength
Purity of the jewellery through Karat meter is still the sign of total purity.
Distribution network and retailing store are in place for the company with
130 store country wide. Mind boggling/ award winning designs have
come for the come for the company. Diversity in jewellery gold/
diamond/ platinum enhances the product range of the company. We also
have competitive prices for the entire product ranges as compared to the
competitor.

Weakness
Capture Rs 70000-crore Indian jewellery market. Tanishq comprises a
small share of the overall Rs 70000- crore Indian jewellery market and
hence it needs to increase its market share in this huge industry. Escalated
gold cost has caused lower margins is to push salw=es as much as
possible.

44
Opportunities
Global markets like USA needs to be looked at low cost and easy to wear
jewellery should be further promoted. Customised jewellery designs
should provide to the customer. Concentrate on Gen-x by having trend
jewellery. Expand retail stores in India to further increase reach.

Threats
Competition of local jewellery shops are all over India, lack of skilled
workers in jewellery industry. Gold is no longer seen as source of
investment. People are some more concerned about design and luxury.

45
CHAPTER 4.
CONCLUSION AND
RECOMMENDATIONS

46
4.1 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 Tanishqs
marketing strategy has been in its product line. From what was essentially
western wear it moved to party wear and then to jewellery watches and now
has progressed to more serious, traditional stuff. Because of the realization
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 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 Tanishqs product offering. Its a lot more traditional-like the
line created for the movies. 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
doesnt think twice about buying expensive designer jewellery for Rs 20,000.
Advertising and imagery helps, though a contemporary product line doesnt hurt
either. And one suspect 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 jewellers 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. Titan and
Tanishq jewellery was awarded the most admired brand awards for the fourth
time in a row in the Jewellery and Time wear 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,

47
Sangini and Kia were the nominees for the awards the Time wear and
Jewellery category. Kudos to Tanishq for its innovative marketing
approach and the internal bond with the customers.

48
4.2 RECOMMENDATIONS
The high touch machineries which the branded companies use are able to
produce 250 kgs of gold to produce good designers at very less time. Even if
goldsmiths work 6 months for 12 hours they are not able to produce the same
design. So the branded companies are able to offer good designers at cheap
price. So most of the goldsmiths are formed to close the shop so its a
appropriate time to target the tyre-3 cities to increase the market share and to
increase the profits to a large extent. The customers get to choose from the
exquisite range of gold jewellery studded with diamonds like Every days/
Lightweight or can indulge in the latest Glam Gold collection, a range of
exclusive gold jewellery with exquisite Kundan and delicate Jaipur wire work
else have option of the intricately designed Aleya or Aria collection. They
can also avail the offer from the wide array of equally spectacular jewellery in
22kt pure gold.

49
BIBLIOGRAPHY
Books Referred:-
1) Making Metal Jewellery- Present, Technique, inspiration by Joanna
Goldberg
2) Design and creation of Jewellery (Jewellery craft) by Robert Von
3) Wire in design-metal wire Art and mixed media (Jewellery Craft) by
Barbara A. Meguire
4) Jewellery making technique book (Quarts book) by Elizabeth Oliver
5) Jewellery- Fundamentals of metal smiting ( Jewellery craft) by Tim
McCreight

Magazine Referred:-
1. Art Jewellery Magazine
2. Craft Magazine
3. 18 Karati Mgazine
4. MJSA Journal
5. Colored Stone Magazine
6. Polish Jewellery Magazine

Site Required:-
www.google.com
www.rcom.co.in
www.imrbint.com
www.scribd.com
www.buusiness.mapsofindia.com
www.opppapers.com
www.IndiaRetailManagement.com
www.GoldFacts.com

50
QUESTIONNAIRE
1) Name of the Respondent:
2) Gender Male Female
3) Age:

Under 20

20-40

40-60

Above 60

4) Qualifications:

Madhyamik

H.S

Under Graduate

Post Graduate

5) Income:
Below 20 000
20000-40000
40000-60000
Above 60000

6) Which is the most preferred location for you to shop?

Bowbazar

Behala

Camac Street

Gariahat

Other

7) How frequently you go for shopping of garments/jewellery?

Weekly once

51
Once in a month

Once in 3 months

Once in 6 months

Others

8) Do you go to branded showroom?

Yes

No

If yes, where

Adidas

Sony

Reebok

P.C.Chandra

Tanishq

Titan

Colorplus

Raymonds

9) Will a Tanishq showroom here (NewAlipore/Behala) will help you in


your jewellery purchase?

Yes

No

10) When do you want a Tanishq showroom in this area?

New Alipore

Behala

No response

52
11) Are you aware of the on-going after of Tanishq on Akshay Trithia?

Yes

No

12) Are you planning to come back to buy gold or any other jewellery
from Tanishq on Akshay Trithia as well?

Yes

No

13) If you would have purchased for Akshay Trithia once again, what
would have been the reason?

Auspicious day

Attractive discount

14) You are making an advance booking for gold or any other
jewellery on Akshay Trithia from Tanishq because?

Auspicious day

Attractive discount

15) Have you seen the recent tanishq TV commercial?

Yes

No

16) Is the quality good?

Yes

No

17) From where do you prefer purchasing jewellery?

Local dealers

Brands

53
54

You might also like