Case Study on Tanishq

INTRODUCTION ?Titan Watches Limited was promoted jointly by Questar Investments Limited (a Tata base company) and Tamil Nadu Industrial Development Corporation Limited (TIDCO). ?In 1995, Titan replaced its name from Titan Watches ltd in direct to change its image from that of a watch shaper to that of a hammer accessories maker. ?Titan later ventured into the jewelery businesses. ?In 1995, Titan changed its name from Titan Watches Ltd. to Titan Industries Ltd. in order to change its image from that of a watch manufacturer to that of a fashion accessories manufacturer. ?In 1995, Titan Industries, Indias leading manufacturer of watches, launched the Tanishq range of gold watches and jewelery. ?Tanishq, an entirely new concept in the Indian market and had to struggle hard to be judge by the customers as Indian jewelery manufacturers were largely unrecognized market .Industry watchers were passing skeptical of Tanishq and doubts were being cast over its prospects. ?Tanishq began by offering jewelery in the 18-carat gold range, with bearings borrowed heavily from contemporary European brands. The company justified its decision saying that it wanted to be different from the traditional Indian offerings.

PROBLEMS FACED BY TANISHQ ?Western design vs. Indian design: In order to be different, Tanishq introduced westernized designs of jewelery into the Indian market, the same designs that it apply to export. The sleek and contemporary designs offered by Tanishq did non go down well with the Indian costumers, who preferred sonorous traditional designs. ?Perception of jewelery as an asset and not as a fashion accessory: Jewelery in India had predominantly been used as an investment rather than adornment. Hence, a change in the perception of jewelery from an asset to a fashion accessory was extremely difficult to bring about. ?Unorganized Indian market: The Indian market was highly... If you want to get a full essay, order it on our website: Ordercustompaper.com

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