Despite the ever increasing price, gold remains to be a favourite among Indian consumers. As a commodity, gold jewellery does not just have an emotional appeal but also a rational appeal in terms of being an investment option.
However, the mass-appeal of the commodity also implies a number of players in the category, many of who are local players and family jewellers. A family jeweller shares a bond with consumers and also tends to be viewed as being more credible. In such a scenario, the challenge for a corporate brand like Tanishq is to make a place for itself in this highly emotional yet rational category. It also becomes important for the brand to command the same credibility and assurance that local family jewellers promise.
Tanishq initially took the rational route by focusing on factors such as purity. However, it later started to focus on the emotional aspect of jewellery. It has aimed at showcasing various aspects of Indian culture and society by highlighting elements like values, beliefs and emotions. Tanishq aims at countering the strong relationship that local jewellers and consumers share by building an equally strong emotional appeal. Understanding the nuances of Indian culture and relationships has helped the brand establish and reiterate a connect with consumers. The brand has used the medium of television, printout of home and digital to achieve the same. Launch of customised jewellery categories is also a step that the brand is taking towards connecting with consumers.
The brand was successful in understanding a key characteristic of the consumer today which was of being deep-rooted in tradition but being modern at the same time. Tanishq thus focused on revitalising tradition through various campaigns that it took up.Â The campaigns were meant to capture the evolution of aspirations and the need of being deep rooted in tradition. The emotional appeal was also used as a tool to change the mindset of consumers.
Further, Tanishq targeted regional markets by customising the print campaigns. The print campaigns portrayed brides from different regions wearing Tanishq jewellery. To keep pace with changing times, the brand also came up with digital campaigns, one of which was launched during Karva Chauth. An application was released for smartphones where women could use their phones as a â€˜channaniâ€™ (sieve) for the ritual.
Weddings have also been an important element in the communication of Tanishq. Wedding is the largest single occasion for the Indian jewellery market. In the Rs 160,000 crore Indian jewellery market, weddings comprise 50 per cent of it. Apart from releasing television and print advertisements, digital campaign was also floated with the element of wedding. A digital Yahoo wedding page was launched, which had content around wedding rituals and ceremonies. The brand has a strong presence in the social media space where it constantly interacts with consumers.Â On ground activities like Tanishq Dulhan, where a bride was presented with a makeover and a professional photo shoot, have also been taken up to connect deeper with consumers.
Recently, a sub-brand of Tanishq, by the name of Mia has been launched which targets working women. The focus for this category has been on designs and affordable price-points.
Tanishq enjoys a market share of around 40 per cent in the Indian branded jewellery market. Its marketing initiatives have struck a chord with Indian consumers.