Tanishq Marketing Mix: Tanishq is a brand subsidiary of the subsidiary firm Titan Industries. It is a jewelry label of Indian origin associated with the retail and lifestyle industries since it offers accessories. Tanishq was established in the year 1994. The company is currently offering both aesthetic and traditional designs.
Marketing Mix Of Tanishq
Marketing Mix Of Tanishq is brand-based. In Marketing Mix Of Tanishq, We will Learn About the four key elements of Marketing Mix: products, place, price, and Promotions. By paying attention to the following four components of the marketing mix, a business can maximize its chances of a product being recognized and bought by customers. We will be discussing Tanishq Marketing Mix. Below is the detailed Marketing Mix Of Tanishq.
Let’s talk about Tanishq Marketing Mix.
Tanishq Main Competitors
- Nirvana Diamonds
- De Beers
Tanishq’s official website: www.tanishq.co.in
Product in the Tanishq Marketing Mix:
Tanishq is the first to create the image of jewelry with a brand name in India. Thanks to its quality products and creative designs, it is among the most recognizable brands.
Tanishq is a dealer in diamond, platinum, and gold jewelry. It has led the way in educating people about the presence of impurities in gold jewelry by introducing the Karatmeter to test the purity of gold. Tanishq diamonds are certified by highly skilled graders. Every jewelry item is sold with a TATA certificate of Trust and a certificate of worth.
Its diversified product portfolio includes
- Pendant Earrings set
- Gold Coins
Tanishq has a variety of stunning collections, such as
- Limited Edition
- QUEEN OF Hearts
- FINE LINE
Place in the Tanishq Marketing Mix:
Tanishq began operations in Chennai and gradually expanded its reach to all parts of India. In 2012, the company launched its 150-anniversary outlet. It has set up several production and sourcing centers and facilities in Hosur, Tamil Nadu, and Pantnagar and Dehradun in Uttarakhand. Initially, the products were targeted at American or European markets; however, the company later focused on local needs. The company’s pilot stores overseas are located in New Jersey and Chicago. Its headquarters are in Bengaluru, situated in Karnataka.
In 2015, Tanishq had one hundred sixty-seven showrooms, nine of which were big-format showrooms that were 15,000 square feet each, and the rest were retail stores. It operates a wide distribution network that includes fully-owned galleries and franchise-based operations with large, luxurious, and exclusive boutiques in prominent locations. Tanishq is an online store that showcases its designs and provides information about the products and associated details. You can make an easy purchase through the platform.
Price in the Marketing Mix Of Tanishq:
Tanishq has targeted women in society’s upper and middle classes as potential clients. It targets women passionate about jewelry and willing to pay high prices for a stunning and exclusive piece.
Tanishq sells high-end items and has therefore adopted a policy of premium pricing. The brand’s name is associated with power and prestige; therefore, those who can afford it are more likely to shell out for it. A Tanishq product isn’t just a status symbol. It’s an investment worth it. It’s among the most rapidly growing brands, with retail sales of close to 10000 crore rupees during the last fiscal year.
Promotions in the Tanishq Marketing Mix:
Tanishq has grown to become one of the top brands owned by the parent company. This is possible due to its aggressive marketing policy. Tanishq has produced gorgeous ads that show its products to the greatest advantage and get them excellent brand recognition. Ads are being launched through digital media on radio and television, as well as print media in billboards, magazines, and newspapers, as well as social media platforms like Twitter, YouTube, and Facebook.
Tanishq is conscious of the power of star power and has hired Indian star Deepika Padukone as its brand ambassador. She will be featured in several commercials to build positive brand recognition. Tanishq’s showroom was in the Hindi film Race during their promotional plans. The company has created jewelry for Hindi films such as Paheli and Jodha Akbar. Tanishq, in 1999, gave 20 crore rupees in gold-plated coins in the name of Maruti Udyog Limited in the form of presents to the buyers of Maruti automobiles. The gift had a positive effect on sales for both businesses.
This is the Marketing Mix Of Tanishq. Please let us know if you have additional suggestions to add.
Let us know What do you think? Did you find the article interesting?
Write about your experiences and thoughts in the comments below.