Group 4 presented on Tanishq and Gold Plus jewelry brands. Tanishq positioned itself as high-end designer western jewelry but lost focus on the 80% demand for plain gold jewelry. Gold Plus targeted the plain gold market with traditional designs and lower prices than Tanishq, competing with regional jewelers. The document recommends that Tanishq should absorb the Gold Plus brand, segment products by design and quality to cater to diverse customers, and avoid double taxation to gain more market share.
2. Has positioned itself as high end product
Designer jewelry - western.
Indian woman perceived it as “nice, but not
for me” type of product.
In catering to affluent class, Tanishq lost
focus on the actual customer demand of plain
golden jewelry which constituted 80%.
3. Traditional in approach, target at plain gold
jewelry.
Low end product.
Competition with regional jewelers.
Better prices as compared to Tanishq.
Branded as Tata product.
Indian buyers obsessed with 22 carat and not
18 carat.
4. Recent times have seen larger brands
witnessing an upward swings due to the
factor such as –
Created more occasions to wear gold in
different regions of the country.
1. Increasing consumer sophistication
2. Diminishing investment-driven purchases
3. Growing Indian economy
4. With more women working, the demand for
9 to 5 wearable jewlery is incereasing
5.
6. Tanishq- Lost focus on customer demand
Gold Plus- Price compromise threat to
Tanishq
Double Taxation
Expansion of GoldPlus beyond 20 stores
would make it eligible for taxation and term it
as a brand which in turn will make rural
buyers away from it.
7. Going by the current situation :
GoldPlus to be discontinued and more focus on
diverse profile of jewelery.
Our suggestion :
Brand Absorption( Gold Plus within Tanishq)
Product Segmentation
Avoidance of double taxation
Gaining both market share
Difference in designs and quality catering to wide
variety of buyers/customers