A Study of Retail Strategies Adopted by Tanishq
A STUDY OF RETAIL STRATEGIES ADOPTED BY TANISHQ
(Synopsis towards partial fulfillment of the assessment in the subject of Service Marketing)
SUBMITTED BY:
SUBMITTED TO:
Aubert Sebastian
Dr. Archi Mathur
BBA(Hons.), LL.B(Hons.)
(Faculty of Management)
Roll no.- 676
Vth Semester
NATIONAL LAW UNIVERSITY, JODHPUR
SUMMER SESSION
(JULY-NOVEMBER 2011)
TOPIC
A STUDY OF RETAIL STRATEGIES ADOPTED BY TANISHQ
INTRODUCTION
In the branded jewellery segment, Tanishq has established its leadership position and built a persona which is premium, stylish, exquisite and pure. Tanishq entered the segment in June 1995 at that time the market was dominated by the neighbourhood sonars (goldsmiths) who would craft designs in gold for women. Tanishq, as the first brand of jewellery in the Indian market 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.
As the retail sector gets competitive, effective marketing strategy is needed to be successful. If retailers do not follow effective marketing strategies then the chances of trailing behind the competition increases and they lose business to other retailers. Certain retail marketing strategies are effective in improving profits of a retailer.
Merchandise assortments
Customer support
Price
Communication with customers
Advertising
Promotion
Tanishq is a retail brand, giving customers a unique shopping experience. It is available only at exclusive outlets and this was the companys first innovation. Tanishqs unique designs are created with the Indian woman in mind. Tanishq has created specific collections that have set a new fashion in jewellery. They are aligning themselves