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7/27/2019 projecttanishqanand-110321120433-phpapp02

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A Retail Management Perspective


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Presented By

Presentation

Group

C Man Mohan Anand

Saif Siddique

Dipika Sarda

Denny Singh

Kumar Shubham


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Tanishq is India's largest, most desirable and

fastest growing jewelry brand in India.

Started in 1995, Tanishq is the jewelry

business group of Titan Industries Ltd -

promoted by the TAT group.

With a retail sales of 1200 crores last year and

gunning for 2000 crores this year.

Tanishq has set up production and sourcing

bases with through research of the jewelrycrafts of India.

Located at Hosur, Tamil Nadu, the 1,35,000

sq. ft. factory is equipped with the latest and

most modern machinery and equipment.

Introduction


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Tanishq introduced innovations like Karat

meter, the only non destructive means to

check the purity of gold.

Tanishq also introduced professional retailing

in the un-organized Indian jewelry bazaar,

where women can shop with comfort and

peace, without worrying about the purity of

the jewelry they are buying, as well as, select

from the best jewelry collections available in

the Indian market.

Tanishq has successfully taken on the

challenge of transforming this frontier into a

reliable consumer space by bringing to it all

the virtues and benefits that branding offers

Introduction


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Segment - Jewellery

Tanishq targets the mid-premium segment inretail of jewellery business. (premium segment

by ZOYA, mass segment by GOLDPLUS+)

Cater with superior craftsmanship, design

expertise, product innovation, and guaranteed

quality.

Gold jewellery in 22k pure gold, Also make

platinum jewellery, with diamond and other

precious stones.

Innovated karat meter, the only non-

destructive method to check purity of metaland jewellery.

To promote glamour value of metals (gold)

besides its status as a secure source of

investment.


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Tanishq - Format

Tanishq The Speciality StoreTanishq, the jewellery business of Titan Industries Ltd, is looking at other alternatives to

capture the market. Apart from the presence in high streets, the retail chain is

embarking on pilot projects, involving presence in shopping malls and shop-in-shops in

retail formats. The move comes in the growing popularity of such formats which areattracting footfalls, which Tanishq is looking to grab.


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Tanishq Store Layout


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Merchandise Assortment

Merchandise Assortment Planning is a key activity atTanishq which involves

Identification of product attributes relevant to the

customers choice process This is done by central

supply chain team, based on inputs from the store

associates

Determining an appropriate assortment strategy for

each merchandise category This is done by central

supply chain team by analysing sales history and

inventory data

Development of Merchandise Assortment Strategyfor each product category based on 2x2 Matrix of

percentage contribution of sales vs. sales velocity

Based on Assortment strategy SCM team develop a

preliminary assortment plan for each store with

suggested product and inventory levels


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Neckwear

A

Neckwear

B

Rings A Wedding

Best Sellers are put

on automated SKUlevel replenishment

Total category

inventory & product

attribute mix by

store is specified for

the rest of SKUs

Main focus for storeassociates

Assortment is

designed to ensure

high degree of

variety

Automated

replenishment for

entire category

Limited role play by

store associates

No focus on

individual SKUs

Similar guidelines for

similar demographic

stores

SKU is decided by

Store Associates

Order quantity is set

by Store Associates

High Low

Sales Velocity

% of Sale by value

Resources - Retail Supply Chain Management: Quantitative Models and Empirical Studies By Narendra M. Agrawal, Stephen A. Smith

Merchandise Assortment


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Pricing Strategy

Tanishq being a brand name of TATA,

maintain a standard price for all of their

products. But being in a competitive market

with lots of local as well as branded

competitors, Tanishq offers various attractive

price schemes to allure customers.

Here are some few pricing strategies which is

followed by Tanishq:

Flexible Pricing

Market Skimming

Price Bundling

Competition Oriented Pricing

Price Lining


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Location Strategy

Prime Locations for Merchandise Value of space decreases further away it is

from entry level floor

Highly trafficked areas

Store entrances /escalators/ main

aisles Near checkout counter

Highly visible areas

End aisle

Displays

Value of space decreases further away it is

from entry Special Considerations

Avoid the butt-brush effect.

Make merchandise accessible.

Allow a transition zone.


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Communication Mix

Personal communication channels

Non - Personal communication channels

Print Media [ Vogue, Femina, Cosmopolitian ]

Business magazines for mens collection

Broad Cast Media

Display Media

Event and Experiences

Online Selling

Fashion Shows

International Jewellery Fairs


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Visual Merchandise

Visual Merchandising and display techniques

Attention-getting devices

Colour plates

Familiar symbols

Making and proscenia

Sale ideas

Fashion accessories

Graphics and signage


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Customer Service

Golden Harvest Saving Scheme

Exchange Policy in Tanishq

Gift Vouchers

Purity Checks

Anuttara


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Documents

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