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INTRODUCTION
The moment we get up from our beds and go to brush its a brand we are using,
for times we are happy and we exchange gifts it as a brand we are using. A lot
goes into the building of a brand, and it is never an easy road for the Companies
with the growing competition. The entire process of coming up with a feasible
idea and to be able to execute it successfully is a brainstorming exercise for the
who and whose of the corporate world.
Talking about the jewellery industry it has come a long way from jewellery
being sold in the unorganized sector to the branded showrooms which areestablishes today. Today there are a lot of brands which are existent in the
business of selling jewellery and they are giving tough competition to the
unorganized sector. One such name is Tanishq, a Tata enterprise.
This jewellery brand has been into existence since a few years now and has been
doing well for itself. But since the last two years a trend has been observed that
the revenue has been decreasing slowly.
The basic reason as observed is the lack of new customers coming into the
store and the Tanishq owners have been pondering over this issue for quite
some time now. After much thoughts and ideas which have been put together
Mr. Sandeep Kulkarni the vice-president of Tanishq came out with an
announcement of a launch of a new sub-brand of Tanishq by the name of FQ
teen diamonds.
This collection has been launched under a strategic decision making with the
ultimate objective of catching them young. The official launch of this
collection would be taking place somewhere around September; FQ is a
jewellery collection for the youngsters priced at a low range.
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This has been basically done to be able to introduce Tanishq to the young crowd
instead of looking at it as a brand for traditional jewellery. A trend has been
seen that the youngsters have an inclination towards gadgets and accessories
and even the girls today do not wish to spend much on the purchase of jewellery
probably that is a big reason behind the falling demand of jewellery.
To be able to bring in the new generation into the business of buying jewellery a
new set of funky jewellery line has been brought in by the designers of Tanishq.
The jewellery line comprises of silver and gold plated jewellery with diamonds
brought by the house of Tata it comprises of chains, earrings, pendants and
bracelets to cater to the youth.
The response to the designs has been good but what yet needs to be discovered
is that are the youngsters ready to move to fine jewellery even though there is
abundance of junk jewellery available in the market ,is the price falling under
their budget or is the youth even interested in indulging in the jewellery buying
business.
Here is a research in order to gain insights from the youth itself and to come up
with logical reasoning and recommendations with respect to the same.
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INDUSTRY PROFILE
Gems and jewellery is one of the most emerging sectors in the Indian economy
today. Ranked among the fastest growing sectors, it is also a leading sector for
foreign exchange generation.
It accounted to about 16.7 %1of Indias merchandize export .U.S.A imports
about 50.3% of gems and jewellery for from India which has increased by 20%
in the year 2012.at present India exports about 95% of the worlds diamonds.
There are a lot of reasons behind this since it is a part of our heritage so we have
a lot of skilled workers in this field who come up with brilliant production
pieces time and again. The production cost is also quite low here. There is also
an effective marketing and distribution network and promotions exiting.
It is the diamond polishing capital of the world and is excellent with is
manufacturing process.
Gems and stones have always been precious and so have been diamonds which
are expensive and beautiful. In the past diamonds2
have been limited to only the
elite and rich segment of the society but today with increased purchasing power
of the people there has been an increased demand for them and that is one of the
biggest reasons behind the growth.
Gold has been a favourite metal of Indians owing to its easy of fabrication and
intrinsic lustre. Gold enjoys a leading position all across markets and since gold
is also a traded metal the consumption impacts the gold price movements.
This segment also includes other forms of jewellery: precious gemstones and
semi-precious stones and silver.
1http://www.indiainbusiness.nic.in/industry-infrastructure/industrial-sectors/gems-jewellery.htm
2http://www.ibef.org/industry/gemsjewellery.aspx
http://www.indiainbusiness.nic.in/industry-infrastructure/industrial-sectors/gems-jewellery.htmhttp://www.indiainbusiness.nic.in/industry-infrastructure/industrial-sectors/gems-jewellery.htmhttp://www.indiainbusiness.nic.in/industry-infrastructure/industrial-sectors/gems-jewellery.htmhttp://www.ibef.org/industry/gemsjewellery.aspxhttp://www.ibef.org/industry/gemsjewellery.aspxhttp://www.ibef.org/industry/gemsjewellery.aspxhttp://www.ibef.org/industry/gemsjewellery.aspxhttp://www.indiainbusiness.nic.in/industry-infrastructure/industrial-sectors/gems-jewellery.htm7/31/2019 Introduction Sneha
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This industry is highly fragmented thus it allows both the organized retailers and
dealers to flourish. The export of colour stones has increased by about a 15% to
Rs 16.53 billion. Jaipur being the hub of coloured stones about 50% makers
have come together to form a Company by the name of colour stone gems in
India
Production of raw material is negligible in India therefore the jewellery sector is
highly dependent on imports for its raw material.
Until the eighteenth century India was the only known place for diamonds and it
has been home to a lot of exquisite diamond pieces like the Kohinoor, the Pitt,and the Orloff. But after the discovery of diamonds in Latin and South America
India lost its importance as diamond producer. Its major source of diamonds
today is the in Panna in Madhya Pradesh. Though India is not a major producer
of gems and stones it has noteworthy reserves of gold, sapphire, emerald in
states like Andhra Pradesh, Chhattisgarh, Jammu and Kashmir, Madhya
Pradesh, Orissa, Tamil Nadu.
Value Chain of the sector
Diamonds are passed through a series of processes before they are finally sold
in the retail market. The value chain of the diamonds begins with exploration of
diamonds form mines, followed by processing, manufacturing, whole selling
and retailing.
India may not be a major miner of diamonds but it is the largest processor of
diamonds owing to its skilled and efficient labor.
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The industry on a whole has been growing slowly and slowly despite slight ups
and downs in the economy, and there a lot of drivers behind this demand. To
mention a few:
Low cost of labour-The low cost of polishing and cutting has made India a
favourite spot for manufacturing and also the diamonds are produced at a very
low cost which leaves a profit margin.
Availability of skilled craftsmen-Since it is an ancient industry it has a large
population of skilled craftsmen and artisans. The true strengths of the jewellery
industry lie in intrinsic and hand crafted designs.
Rising Disposable income: The increased disposable income has been a major
factor for the jewellery industry both domestically and internationally. Jewellery
is a lifestyle product and that a reason the growth has been tremendous.
Favourable Government policies: The abolition of gold control Act in1992,
opening of gold and diamond mining for the private foreign investors has helped
create a demand for Indian jewellery industry by the foreign players
Overall the jewellery industry has been a part of Indias cultural heritage and
that is the major reason behind the growth and existence of the sector.
With the organized and unorganized sector both existing in the same market and
surviving the industry has great potential in the future.3
3http://www.dnb.co.in/IndianGemsandJewellerySector/Overview.asp
http://www.dnb.co.in/IndianGemsandJewellerySector/Overview.asphttp://www.dnb.co.in/IndianGemsandJewellerySector/Overview.asphttp://www.dnb.co.in/IndianGemsandJewellerySector/Overview.asphttp://www.dnb.co.in/IndianGemsandJewellerySector/Overview.asp7/31/2019 Introduction Sneha
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COMPANY PROFILE
The splendid Titan watches success stories were up and already running, but in
order to keep pace with the technology and machinery used they needed foreign
currency. The jewellery industry had a lot of potential both in U.S. and Europe
and the Indian jewellery market was a good foreign currency earner and along
with that watches put together with jewellery made a good offering, thats when
Tanishq was coined from a combination of Tata and Nishq.Tan meaning body
and Ishq meaning love.4
It was launched in the year 1994 and the product line offered was suitable forthe European and American market but with the economic slowdown the
potential for the foreign market came down.
Titans foray into the jewellery market went through some criticism, but slowly
with time Tanishq has evolved as a brand for women from the Tata house. It
bought into the market a whole new standard of business ethics and product
reliability, bringing about a transformation in the manner jewellery was
probably sold in the Indian market.
On the other hand India opened its hands to the global market in turn flooding it
with foreign currency. Tanishq meanwhile establishes a manufacturing promise
and entered the market and rest is history.
Tanishq is known for its exquisite and beautiful designs carved and cut byskilled design department and marketed well by the marketing team.
The ad campaigns by Tanishq have always highlighted the importance of
jewellery in a ladys life and they have been captured visually with real life
situations in order to be able to relate with the audience.
4http://www.tanishq.co.in/tanishq-story
http://www.tanishq.co.in/tanishq-storyhttp://www.tanishq.co.in/tanishq-storyhttp://www.tanishq.co.in/tanishq-storyhttp://www.tanishq.co.in/tanishq-story7/31/2019 Introduction Sneha
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Tanishq offers different collection of jewellery line namely Mia for the young
working women, Zoya for the traditional occasions and the recent Ganges
collection which has designs inspired from the nature ,the hills the rivers and the
valleys of India.
Another line of collection which is yet to be officially announced is a name FQ
teen diamonds which is focused on the teens and which has been created to be
able to cater to a young crowd and not to just restrict its offering to the older
crowd.
I pilot study is being conducted in by setting up kiosks in three cities namelyDelhi, Pune, Bangalore where this collection is being sold. The response for the
designs and the collection has been good owing to the fact that there has been
minimum advertisement.
Through this offering Tanishq wishes to be able to come in contact with the
youngsters and to be able to cater to them as they might end up being their
future potential customers.
The point still remains that with the decreasing demand for jewellery among the
young crowd and the availability of junk jewellery in abundance will Tanishq is
able to repeat its success story yet again.
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Literature Review
The jewellery industry has been growing at a smooth rate and in spite of some
ups and downs in the economic conditions of the Country it has been able to
contribute in the economic growth of the country.
With time jewellery has evolved from just gold and diamonds to precious and
semi-precious stones. In todays era the category of fashion jewellery id the
latest existing trend.
This article talks about the changing trends of the people and the fact that with a
changing scenario in terms of lifestyle and growth ,women from almost all
stages of their lives including teenagers, working women and even middle aged
women have moved from traditional jewellery to semi-precious stones. It
includes jewellery which is not made of gold, diamond or silver. The fact that it
is inexpensive and at the same time it is not cheap made from materials like
brass, aluminium, copper and glass. Fashion jewellery providers have come up
with a range of earrings, bracelets, rings, chains to be able to meet the demand.
Also the fact that fashion jewellery provides a greater range of collection which
is also one of the major reasons for its popularity.
Imitation jewellery has been a big hit because of the fact that the designs are
inspired from the Greeks and Romans made of materials like rock crystal, ivory,
glass beads, topaz. It has become a style statement today with the young
generation to adorn fashion jewellery.5
5http://vatikajewellers.co.in/tag/costume-jewelry
http://vatikajewellers.co.in/tag/costume-jewelryhttp://vatikajewellers.co.in/tag/costume-jewelryhttp://vatikajewellers.co.in/tag/costume-jewelryhttp://vatikajewellers.co.in/tag/costume-jewelry7/31/2019 Introduction Sneha
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This article6
talks about the leading jewellery brands which have come up with
low ranged jewellery to be able to cater to the young and with the changing
needs and requirements of the individuals. With a price point of thousand rupees
which might be cheaper than a pair of denims the jewellery makers are trying to
break the long existing norms and evolve. A traditional jeweller like Krishnaih
and Shetty have come up with such collection followed by Gitanjali which is a
direct competitor to Tanishq has also launched a collection staring from Rs 2500
in a college fest in Mumbai.
"Teenagers and young adults are moving from costume and junk jewellery to
light gold, silver and diamonds since it adds value to their lifestyle and fashion,"
said Mehul Choksi, Gitanjali's chairman and managing director.
6http://articles.economictimes.indiatimes.com/2012-03-06/news/31127298_1_largest-diamond-jewellery-
retailer-c-krishniah-chetty
http://articles.economictimes.indiatimes.com/2012-03-06/news/31127298_1_largest-diamond-jewellery-retailer-c-krishniah-chettyhttp://articles.economictimes.indiatimes.com/2012-03-06/news/31127298_1_largest-diamond-jewellery-retailer-c-krishniah-chettyhttp://articles.economictimes.indiatimes.com/2012-03-06/news/31127298_1_largest-diamond-jewellery-retailer-c-krishniah-chettyhttp://articles.economictimes.indiatimes.com/2012-03-06/news/31127298_1_largest-diamond-jewellery-retailer-c-krishniah-chettyhttp://articles.economictimes.indiatimes.com/2012-03-06/news/31127298_1_largest-diamond-jewellery-retailer-c-krishniah-chettyhttp://articles.economictimes.indiatimes.com/2012-03-06/news/31127298_1_largest-diamond-jewellery-retailer-c-krishniah-chetty7/31/2019 Introduction Sneha
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Teen Brands: Advertisement Analysis
Fastrack
Logo -
Products OfferedBags, Watches, Sunglasses, Belts and Wallets
Tag LineMove on
Targeting Youth: Fastrack as a brand has been targeted at the youth. The ads
(print and television commercials) have been depicting real life situation7
which
are close to the heart of the younger audience to grab their attention. The ads
are talking to the youth who dare to be different and also play with the
psychology of the current teenagers. The ads make you feel that the product is
part of your everyday life.8
Sprite
Logo -
Campaigns
7http://www.exchange4media.com/43402_fastrack-takes-its-%E2%80%98move-on%E2%80%99-campaign-to-
the-web-platform.html
8http://www.campaignindia.in/Article/232140,lowe-lintas-creates-new-campaign-for-fastrack-bags.aspx
http://www.exchange4media.com/43402_fastrack-takes-its-%E2%80%98move-on%E2%80%99-campaign-to-the-web-platform.htmlhttp://www.exchange4media.com/43402_fastrack-takes-its-%E2%80%98move-on%E2%80%99-campaign-to-the-web-platform.htmlhttp://www.exchange4media.com/43402_fastrack-takes-its-%E2%80%98move-on%E2%80%99-campaign-to-the-web-platform.htmlhttp://www.exchange4media.com/43402_fastrack-takes-its-%E2%80%98move-on%E2%80%99-campaign-to-the-web-platform.htmlhttp://www.campaignindia.in/Article/232140,lowe-lintas-creates-new-campaign-for-fastrack-bags.aspxhttp://www.campaignindia.in/Article/232140,lowe-lintas-creates-new-campaign-for-fastrack-bags.aspxhttp://www.campaignindia.in/Article/232140,lowe-lintas-creates-new-campaign-for-fastrack-bags.aspxhttp://www.campaignindia.in/Article/232140,lowe-lintas-creates-new-campaign-for-fastrack-bags.aspxhttp://www.exchange4media.com/43402_fastrack-takes-its-%E2%80%98move-on%E2%80%99-campaign-to-the-web-platform.htmlhttp://www.exchange4media.com/43402_fastrack-takes-its-%E2%80%98move-on%E2%80%99-campaign-to-the-web-platform.html7/31/2019 Introduction Sneha
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SpriteBujhaye Only Pyaas, Baki All Bakwaas' - 9 'No Gyan - Only Sprite Baat, No Bakwaas, Clear Hai!' in 2008 'First drink, then think, Sprite - University of Freshology'
Main Communication
Basic thirst quencher!!!! Sprite is a refreshing drink!!!!!10
Targeting Youth: Sprit created teasers knowing the curious nature of
youngsters, to build curiosity around the brand. The teasers were followed up
with actual commercials using the ideas of the youth themselves.
Cadbury
Logo -
Ad Campaigns
kuch meeta hojaaye ShubhAarambh or Good Beginning11
The Ads communicate the following:
For all occasions. Does not target the youth in particular but all generations.
9http://www.marketing-interactive.com/news/24859
10http://broadband.glamsham.com/sprite/india-ad-video_a9405f1d6.html
11http://www.cadburyindia.com/in/en/mediacenter/pages/shubhaarambh.aspx
http://www.marketing-interactive.com/news/24859http://www.marketing-interactive.com/news/24859http://www.marketing-interactive.com/news/24859http://broadband.glamsham.com/sprite/india-ad-video_a9405f1d6.htmlhttp://broadband.glamsham.com/sprite/india-ad-video_a9405f1d6.htmlhttp://broadband.glamsham.com/sprite/india-ad-video_a9405f1d6.htmlhttp://www.cadburyindia.com/in/en/mediacenter/pages/shubhaarambh.aspxhttp://www.cadburyindia.com/in/en/mediacenter/pages/shubhaarambh.aspxhttp://www.cadburyindia.com/in/en/mediacenter/pages/shubhaarambh.aspxhttp://www.cadburyindia.com/in/en/mediacenter/pages/shubhaarambh.aspxhttp://broadband.glamsham.com/sprite/india-ad-video_a9405f1d6.htmlhttp://www.marketing-interactive.com/news/248597/31/2019 Introduction Sneha
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A replacement for sweets.It strikes the emotional chord of the audience thereby creating a greater impact.
It is linked to theindividuals happiness.
McDonalds
Logo -
Tag LineIm Lovin It!!!!12
Ad Campaigns
You deserve a break today, so get up and get away To McDonalds13 McDonald's mein hai kuch baat.
Targeting Youth: The Ads have been used real life situations to grab the
attention of the youth. They have mainly focussed on capturing the teenagers by
emphasizing on the price. The common topic of conversations among college
students have been used which direct the ads towards the youth.
12http://www.financialexpress.com/news/mcdonalds-india-rides-on-im-lovin-it-campaign/93374/
13http://www.campaignindia.in/Article/234203,mcdonalds-goes-to-town-with-its-new-breakfast-menu.aspx
http://www.financialexpress.com/news/mcdonalds-india-rides-on-im-lovin-it-campaign/93374/http://www.financialexpress.com/news/mcdonalds-india-rides-on-im-lovin-it-campaign/93374/http://www.financialexpress.com/news/mcdonalds-india-rides-on-im-lovin-it-campaign/93374/http://www.campaignindia.in/Article/234203,mcdonalds-goes-to-town-with-its-new-breakfast-menu.aspxhttp://www.campaignindia.in/Article/234203,mcdonalds-goes-to-town-with-its-new-breakfast-menu.aspxhttp://www.campaignindia.in/Article/234203,mcdonalds-goes-to-town-with-its-new-breakfast-menu.aspxhttp://www.campaignindia.in/Article/234203,mcdonalds-goes-to-town-with-its-new-breakfast-menu.aspxhttp://www.financialexpress.com/news/mcdonalds-india-rides-on-im-lovin-it-campaign/93374/7/31/2019 Introduction Sneha
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RESEARCH METHODOLOGY
DETAILS OF THE STUDY
The project title is a launch of a new sub-brand FQ teen diamonds by Tanishq (a
Tata enterprise).This is new line of jewellery being brought into the market
which is made of silver, gold plating and diamonds. They are low ranged
products.
A pilot study is being carried out by Tanishq by opening up kiosks in three
cities namely Delhi and Lucknow and Bangalore.
A research in the two cities had been carried out. In each city about 90
respondents which fall under the TG (15-24) has been spoken to and a few
questions have been asked in order to get an insight about FQ and fine jewellery
on a whole.
This study was conducted in a new city as well namely Lucknow, where
Tanishq is planning to set up a kiosk in the first week of June to get an overall
response towards such type of a collection and the response of the same has
been captured and taken as a base for analyzing the liking and preference of the
TG.
Thereafter in discussion with the creative agency Lowe Lintus and the Pr
agency Maxus Global a campaign for online, television, Radio ,On ground
campaigns have been formulated and a few of them have been implemented.
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RESEARCH DETAILS
Title of the study- To survey the TG(18-24) through general conversation
and coming up with a communication strategy.
OBJECTIVES OF THE STUDY
1. Visiting the two cities and talking to them in order to be able to gainimportance insights from the customers.
2. Analyze the ads campaigns of other customers which our target groupidentifies with, to be able to come with an effective communication
device plan.
3. To discuss with creative agencies and device a communication plan andawareness campaign for the launch.
The survey which was conducted was for the study was as follows:
Geographical locations: The study was limited to India and within India to two
cities namely Delhi where the FQ kiosk has already been set up and Lucknow
where the kiosk was set up in the first week of June. A kiosk is also existent in
Bangalore so initially a visit was made to the kiosk there and interaction with a
few customers to get a feedback about Bangalore.
We were asked to make phone calls and speak to the customers of Delhi and
Bangalore.
Our prescribed Target group was females within the above mentioned areas
between the age group of 18-24.
Also the already existing customers were also surveyed which included our TG
and non TG.
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Sample Frame- All the teenagers in the two cities namely Lucknow, Delhi under
the bracket of 18 to 24 age group.
The sample size for the survey was
Delhi- 91
Lucknow-88
Total- 179
The sample size was selected on a basis of a set of controlled factors like time
period and financial resources and based on the previous research done on
Tanishq the used sample size was 200.
There was not set number prescribed to us since time limit was a major
constraint because we were financed and sent to all the 3 cities i.e. Lucknow.
Delhi. For Bangalore kiosk was the first visit to get a hang of the product line
and kiosk and a feedback from the customers was obtained before staring the
actual conversations with random people from different cities.
It was a quantitative research.
Since the study was more insight based and the motive was to develop a
communication medium by the help of the surveys there did not exist any sort of
problem so it was a descriptive research since no prior research has been
conducted with respect to the collection FQ.
The method of sampling was non probabilistic convenient sampling owing to
the prescribed standards of the Company and the time and financial constraints.
The mode of survey was through general interaction based on a number of
questions we asked them, so no questionnaire was filled by the respondents
.The data was taken down as and when the respondents spoke according to their
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convenience and closed brackets were maintained were the data was feed for the
later analysis.
To the TG surveyed randomly a set of questions pertaining to their lifestyle,
purchasing habits and media habits first asked after showing them the FQ leaflet
so that their responses could be more specific.
For the customers their feedback and suggestions regarding the products sold
were obtained.
Apart from that the kiosk managers of the two cities Bangalore, Delhi the area
manager sales for Delhi and Lucknow were also spoken to in order to obtain the
data regarding the sales and conversion rates and issues relating to the price,
product and location and design and set up.
No statistical tool has been used since it was an insight based survey which was
utilized to come up with a communication strategy for the target group in
discussion with the PR and the media agency.
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ANALYSIS AND INTERPRETATION OTHE DATA COLLECTEDIN DELHI AND LUCKNOW
NUMBER OF RESPONDENTS IN
DELHI-91
LUCKNOW-88
Data collected from:
In Delhi-
Pacific Mall (Subhash Nagar), Great India Place (Noida), Ambience
Mall (Vasant Kung) , DLF Promenade (Vasant Kung) ,Central Market
(Lajpat Nagar) City Walk (Saket)Lucknow-
Phoenix Mall (Alambagh) Sahara Mall (Hazratgang)
Fun Republic Mall (Gomati Nagar)
Wave Mall (Gomati Nagar)
Inox Mall (Gomati Nagar
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DELHI
PURCHASE DECISION
When our target group (1524 years) was asked whether they would purchase
our new collectionFQ, following was the response:
Data was obtained from a total of 91 respondents during the survey conducted
in Delhi.
Purchase decision
21% 29%
Maybe
No
50% Yes
Fig 1.1
Yes21%
No50%
Maybe29%
The above response was mainly obtained by showing our TG the leaflets with
some of the designs offered by FQ. Only 7% of our respondents had seen the
collection in person. A majority of 50% of the respondents came up with a
response of NO Purchase. The reasons mainly being price and some are
generally not intojewellery. About 21% gave a positive response mainly
owing to the designs offered by FQ.
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KNOWLEDGE ABOUT FQ
Only 7% of our respondents had heard about FQ and 93% were unaware of the
collection:
FQ KnowledgeYes7%
No93%
Fig 1.2
The radio ads, flash mobs and the cantors were the main source of information
for the 7% who were aware about fq. The radio ads were on air for about 3
weeks during the month of February. The flash mobs and cantors were on
during the same time period.
Not much awareness has been generated among the TG through the very
limited promotional activities which were undertaken just before the initial pilot
study.
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REASON FOR NO PURCHASE
From our initial data of which 50% gave a negative response, the reason for
the same is as follows:
Reason for 'no' purchase
47.22
19.44 13.89 19.44
Price Not into Prefer Junk Othersjewellery
Fig 1.3
Price range47.22%
Prefer junk13.89%
Not into jewellery19.44%
Others19.44%
Out of the 72 respondents, about a 47% had a problem with the price of the
products. The price range seemed to be out of their budget. About 20% were
not really interested in wearing or buyingjewellery. Another14% of the
respondents preferred junk jewellery over fine jewellery.
There were no respondents in Delhi who stated dislike for the designs as a
reason for no purchase.
Hence basically the price of FQ, when compared to the price of junk jewellery,
was the main issue leading to limited purchase of FQ products.
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FREQUENCY OF PURCHASE
The following graphs shows us how often our target group purchase jewellery in
general:
customers
20
15
10
of 5
No.
0
Frequency of purchase
Fig 1.4
28%purchase jewellery once in 3 months and 15% once in 6 months. But the
majority i.e. 27%, of our target group purchase jewellery on orfor occasions.
Also, it was seen that 15% buy on impulse if they really like the designs and
the product and 20% rarely purchase jewellery.
Fig 1.5
Frequency of purchase
Rarely9% 1 - 3 months
requent y28%
6%
Occasions27%
4 - 6 months
10 - 12 15%
Impulse months 7 - 9 months
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15% 0% 0%
AMOUNT SPENT ON JEWELLERY
The following data shows the amount of money spent by our TG (15 24
years) on jewellery:
above 2500 Amount Spent3%
No limit2001 - 2500 4%
0%1501 - 2000
13%
1001 - 15005%
below 50054%
500 - 100021%
Fig 1.6
It is seen that 75% of the total respondents spend up to Rs1000 on jewellery
regularly. About 54% spend below Rs500 on jewellery, which is a concern for
FQ as the products start from Rs500.
Around 13pc spend between Rs1500-2000 and only 3pc spend above Rs2500
on the purchase of jewellery.
Also 4pc of our respondents had no limit on the amount they would spend on
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jewellery if the designs were really appealing to them.
PURPOSE
When asked about the purpose behind the purchase, the following were the
responses:
Purpose
Self Gifting Self and gifting No comments
3%1% 3%
93%
Fig 1.7
Self-use93%
Gifting purpose3%
Self-use and gifting1%
No comments - 3%
A maximum of 93% said that they would purchase jewellery from our
fq collection for self-use.
A small portion of the respondents i.e. 3% said they would purchase fq
products to gift it to others on occasions.
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PREFERRED PRODUCTS OUR TG USUALLY PURCHASE
Following are the products in the jewellery segment which our target
group prefer to buy on a regular basis.
Table2.1
Products Number of customers
Chains 1
Earrings 2Earrings and chains 3
Earrings and Pendants 9
Earrings and rings 19
Earrings, rings and pendants 1
Earrings, rings and bracelets 2
Pendants 4
Pendants and rings 5
Rings 5
Rings and chains 5Studs 2
Studs and rings 4
No Preference 10
The most preferred products in the jewellery segment by our TG (15 24
years) are earrings followed by rings. Pendants and finger rings are also the
favourites for some.
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OST PREFERRED BRANDS AMONG THE BANGALORE YOUTH
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RESPONSE TO THE DESIGNS
The general response about the designs from the TG was good. Following aresome of the phrases used by the same:
Good Really nice Different and catchy Funky Decent
Only 3% of the respondents did not like the designs.
RESPONSE TO TANISHQ AS A BRAND
Trustworthy Good collection A reputed brand Diamonds Parents shop there Expensive jewellery Like the ads
Tanishq is a brand which is known for its quality of diamonds and the different
collections. It is seen as an expensive brand by some.
Tanishq is a reputed brand in the minds of the TG nevertheless.
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FEEDBACK FROM THE SALES STAFF
Staff: Praveen and Deepak
Age Group 25 - 30 Years 17-21 Years
Views 70% - self and gifting 30% - Expensive
Walk Ins Weekdays Weekends
15 20 - 25
Comments and Concerns:
The ring sizes are a big problem
More studs are demanded by the customers Nettygeeks are liked
Diamonds Clarity:
Clarity of diamonds is a frequent inquiry by the customers.
Set Up of the Kiosk:
The lighting in the kiosk is an issue. It is not bright and appealing. Highlight the name more. More display of the products is needed.
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RESPONDENTS IN DELHI
Vartikaa and Ridhima
We really liked the
collection of FQ. Its
different and funky!!!
Looking forward for
the launch.
Prices seem
affordable and within
our budget
Poorva and Joy
Poorva: Not
much into jewellery.
But the FQ designs are
pretty nice.
Joy: Reasonable prices
might purchase for
occasions.
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IMPORTANT OBSERVATIONS
A majority of 50% of the respondents gave a negative response regardingthe purchase of FQ.
The main reason being the price of the jewellery in comparison to junkjewellery which is available in abundance in local markets there (Sarojini
nagar, Central Market, Kamala Nagar Market).
The knowledge about FQ as a collection was limited to around 7%. The reason behind the same being limited promotional activities in the
beginning of the pilot study (radio ads, flash mobs, contests).
The reason for such a large percentage i.e. 50% of the crowd not willing topurchase FQ is mainly the price as mentioned earlier and apart from that
about 20% were not really into jewellery.
A maximum of 28% of our TG purchase jewellery once in 3 monthsfollowed by 27% who purchase occasionally. Around 15% were impulse
buyers and about 20% were rare purchasers.
The maximum respondents preferred to purchase it for themselves soprobably here Tanishq should focus on bringing in different sizes for the
rings which has been an issue.
Talking about the kind of jewellery purchased, rings and earrings werepreferred followed by pendants.
Overall the designs of the collection were appreciated. Tanishq as a brand has a sense of quality and trustworthiness attached to it
making it work in the favour of FQ as a collection.
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LUCKNOW
PURCHASE DECISION
When our target group (1524 years) was asked whe ther they would
purchase our new collectionFQ, following was the response :
Data was obtained from a total of 74 respondents during the survey conducted
in Lucknow.
Purchase decision
7%
20%
Maybe
No73%
Yes
Fig 1.8
Yes39%
No35%
Maybe26%
The above response was mainly obtained by showing our TG the leaflets with
some of the designs offered by FQ. None of our respondents had seen the
collection in person as there is no kiosk set up in Lucknow as of date.
A whopping 73% of our respondents gave a positive feedbackregarding
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the purchase decision, the main reason being the catchy designs and the price
range.
20% of our respondents were hesitant regarding the purchase and 7% were
unsure.
30
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REASON FOR NO PURCHASE
From our initial data of which 35% gave a negative response, the reason for
the same is as follows:
Reason for 'no' purchase
66.67
13.33 13.336.67
Price Not into Prefer Junk Prefer Goldjewellery
Fig 1.9
Price range68%
Prefer junk7%
Not into jewellery13%
Prefer gold13%
Out of the 15 respondents who gave a negative response regarding their
purchase decision 68% was due the price of the products. 13% of our TG
in Lucknow was not into jewellery and another13% prefer gold to silver
and diamonds.
Overall, the TG in Lucknow liked the collection and designs offered by
FQ but the only hassle was the way the products were priced.
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FREQUENCY OF PURCHASE
The following chart shows us how often our target group purchase jewellery ingeneral.
Rarely Frequency of Purchase4%
Frequently 1 - 3 months
0% 18%
Occasions4 - 6
months44%
20%7 - 9 months
0%
10 - 12 months
Impulse 0%
14%Fig 1.10
18% purchase jewellery once in 3 months and 20% once in 6 months. But the
majority i.e. 44%, of our target group purchase jewellery on or foroccasions.
Also, it was seen that 14% buy on impulse if they really like the designs and the
product and 4% rarely purchase jewellery.
Since a huge percentage purchase jewellery on of for occasions, they are
willing to spend up to Rs2000 on each purchase which is a good sign for our
collection, FQ.
Also, 38% of our TG in Lucknow purchase jewellery at least once in 6
months which can be encouraging for the brand.
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AMOUNT SPENT ON JEWELLERY
The following data shows the amount of money spent by our TG (15 24
years) on jewellery.
Amount Spent
above 2500 No limitbelow 5003% 15%
27%2001 - 25003%
1501 - 200019%
500 - 100030%
1001 - 15003%
Fig 1.11
Quite a big percentage of respondents i.e. 27% spend below Rs500 on
jewellery which is a concern. 30 % of our TG spends a maximum of Rs1000
regularly on jewellery.
The 19%, who spend between Rs1500Rs2000, purchase jewellery on of for
occasions, hence would not mind spending a big amount. Though the amount
spent maybe on the higher side, the frequency of such purchases will be less.
We also have 15% of the respondents who have no limit on their spending on
jewellery given that the designs are really different, appealing and catch
their mind.
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PURPOSE
When asked about the purpose behind the purchase, the following were the
responses:
Purpose
Self Gifting Self and gifting No comments
4% 1%
14%
81%
Fig 1.12
Self-use81%
Gifting purpose14%
Self-use and gifting4%
No comments - 1%
A maximum of 81% said that they would purchase it for self-use.
14% of the respondents would purchase it for gifting purpose and 4% of them
said they would purchase if for self- use as well as for gifting purpose.
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PREFERRED PRODUCTS OUR TG USUALLY PURCHASE
Following are the products in the jewellery segment which our target
group prefer to buy on a regular basis.
Table 2.2
Anklets and bracelets 3
Earrings 2
Earrings and chains 1
Earrings, Rings and chains 2
Earrings, Pendants and rings 4Pendants 7
Pendants and earrings 2
Pendants and rings 3
Rings 3
Rings and chains 2
Rings and earrings 25
Rings and stones 4
Studs 3
studs and rings 2No preference 8
The most preferred products in the jewellery segment by our TG (1524
years) are earrings followed by rings. The current teenagers are largely into
smallstuds as well. Also the youngsters prefer coloured stones compared to
goldand diamonds.
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MOST PREFERRED BRANDS AMONG THE LUCKNOW YOUTH
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RESPONSE TO THE DESIGNS
The general response about the designs from the TG was good. Following are
some of the phrases used by the same:
Good Nice collection Really like Pretty and cute Funky
About 7% did not really like the collection offered by FQ.
RESPONSE TO TANISHQ AS A BRAND
Expensive brand Trustworthy Quality products Gold and diamonds Authentic Guarantee Traditional A Tata product
Tanishq as a brand has a lot of weight
attached to it since people perceive it in a positive manner, so probably the
name could be successfully used for bringing FQ into the market.
Also words like expensive brand, Tata product bring in the aspirational value to
the collection since its from the same umbrella which, again can be encashed
upon.
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RESPONDENTS IN LUCKNOW
Prakhar, Nikhil, Swarna and Shiva
Antara and Vandana
Adithi and Shyana
Richa, Simran and Riya with me
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IMPORTANT OBSERVATIONS
There was a mixed response from the respondents with respect to thepurchase decision with 35% NO and 39% YES,
Out of the 35% negative responses, the major reasons stated were pricebeing 68%, junk and gold preferred 7% and 13% respectively and about
13% were not into jewellery.
The frequency of purchase mainly being once in 3 months is 18% andabout 44% buy on occasions which is the major chunk followed by
impulse buying of 14%. The occasions being birthdays, special days like Valentines Day,
anniversary, bidding adieu. The frequency of purchase is mainly since the TG is a non income
group so financial constraint is also a major reason behind the frequency
of purchase and also reasons like not into jewellery or availability of
low priced junk jewellery. Maximum purchase is for self-purpose which about 89% is and just about
11% is for gifting purpose.
The gifting category is to your loved ones and socially also, basically
mothers buying for their daughters or boyfriends buying it for their
girlfriends.
Rings and earrings seem to be the choice of jewellery in the city ofNawabs, .followed by pendants.
Response to the designs was pretty good with just a handful of 7% notliking it. The response for fine jewellery was good.
The brand Tanishq is quite appealing to the crowd there and it has a lot ofaspiration attached to it.
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ANALYSIS OF OUR CUSTOMERS IN DELHI
FQ has currently set up one of its kiosk at Pacific Mall (Subhash Nagar), in
Delhi. It was set up in the month of February as part of a pilot study. We have
had about 265 customers from February till the mid of April. An analysis of
the customers who fall under our target group has given us the following
information:
Only 37.36% of the customers are part of the target group (1524years) for FQ. This is a major concern as we feel that FQ willcannibalize into the main line jewellery offered by tanishq.
Due to the very limited promotional activities undertaken by tanishq,68% of the customers had no prior knowledge of the FQ collection
introduced by tanishq. Radio ads, canters, flash mobs and fashion warden
contests were the promotional activities run for FQ. The Radio ads were
on air just for 2 weeks during February and the canters were on road for
just a week in each city. Through these activities about 32% of the
customers had heard about FQ before coming across or visiting the
kiosk at the mall.
A comparatively larger portion i.e. 56.86% of the customers havepurchased from FQ not for self-use, but to gift it to friends and
relatives. About 43% of the customers bought from FQ to adorn
themselves (self-use).
When we analysed the product line of FQ, we found the following:
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Table 2.3
Product Purchased 57
Pendant 29.82
Earrings 38.60
Rings 26.32
The most selling product out of the 4 was earrings. 38.60% of thecustomers purchased earrings either for themselves or to gift the same.Followed by earrings were the pendants accounted for29.82% of the
number of products sold. Rings were also almost equally purchased by the
customers in Delhi. Rings amounted to about 26.32% of the number of
products sold. There were a very small percentage of customers in Delhi
i.e. 5.26%, who preferred bracelets over the other products available.
The analysis of the amount spent by the customers at our FQ kioskrevealed the following information:
Amount Spent Percentage
Up to 1000 46.15
1000-1500 26.92
1500-2000 9.62
2000-3000 9.62
3000 above 7.69
Table 2.4
A major chunk of the customers i.e. 46.15%, spent less than Rs1000 for
their purchase. This shows the degree of willingness of our TG in Delhi to
Bracelet 5.26
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spend on jewellery. Another reason for the same is the capacity to spend.
A relatively good percentage of customers i.e. 26.92% spent between
Rs1000-Rs1500 on the FQ products. Only 9.62% of the customers spent
between Rs1500-Rs2000 and another9.62% spent up to Rs3000.
Though the number of TG customers in Delhi is comparatively higher to
Bangalore (37.36% compared to 21.18%), Bangalore shows a higher sales
volume overall. The reason being, a large percentage of the customers in
Bangalore is not our TG and hence have the capacity to spend more (above
Rs3000).
When our customers were asked about the frequency of purchase ofjewellery, the following information was revealed:
Frequency of purchase Percentage
Once in 3 months 27.45%
Once in 6 months 9.80%
Impulse 9.80%
Occasions 35.29%
Rarely 17.65%
Table 2.5
Most of the customers i.e. 35.29%, purchased the product for an occasion,
be it a birthday or a festival. 27.45%purchase jewellery once in 3
months. Also, if was found that 17.65% of the customers purchase
jewellery rarely.
Also, while interacting with the customers with regard to the products, wecame across 11.26% who had issues and complaints about the product
quality. Some of the issues were:
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The gold coating on the earrings began to wear off in less than 2
months from purchase.
The shine faded away in few weeks.
The silver turning black within a month. The pendants not fitting into any of the normal chains.
These issues need to be rectified at the earliest before FQ loses out on more
customers.
Comments and feedback by the customers
Would like to see more designs Different sized finger rings needed or can be open ended Chains can be introduced along with the pendants Need better packing such as boxes
Introduce more of studs to the collection
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ANALYSIS OF OUR CUSTOMERS IN BANGALORE
FQ has one of its kiosks present in Pacific Mall (Whitefield), in Bangalore. It
was also set up in the month of February around Valentines Day. The kiosk has
catered to about 340 customers up till the first week of April. An analysis of the
customers who fall within our target group has given us the following
insights:
A very small portion of our customers in Bangalore i.e. 21.18% fallwithin our target group (1524 years). Majority o f the number of sales
i.e. around 79% has come from the non-target group customers who are
above the age of 24 years.
Owing to the very limited promotional activities undertaken by tanishq,65% of the customers had no prior knowledge of the FQ collection
introduced by tanishq. The promotional activities were the same as Delhi
which included radio ads, canters, flash mobs and fashion warden
contests. The Radio ads were on air just for 2 weeks during February andthe canters were on road for just a week in each city. Through these
activities about 35% of the customers had heard about FQ before
coming across or visiting the kiosk at the mall.
58.54% of the customers, which is a big portion, purchased our FQproducts to gift them to others. Around 41% bought our products for
self-use. This seems to be a good mix for our collection.
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An analysis of the product line of FQ revealed the following:Product Purchased 45
Pendant 42.22
Earrings 28.89
Rings 26.67
Bracelet 2.22Tttttt
TABLE2.6
Our Bangalore customers seemed more inclined towards the pendants
and lockets which accounted for42.22% of the number of sales inBangalore. Earrings were the next most preferred product among the
target group which shows around 29% of the number of sales. Finger
rings were also purchased by a good percentage of customers i.e.
26.67%. Apparently bracelets are not in fashion among the targetgroup,
leading to only 2.22% of the total number of sales in Bangalore.
A closer look into the amount spent by the customers at our FQ kioskrevealed the following information:
Amount Spent 40
Upto 1000 57.5
1000-1500 10
1500-2000 12.5
2000-3000 12.5
3000 above 7.5
Table 2.7
A majority of57.5% of our customers spent up to a maximum ofRs1000
on their purchase of a FQ product. The reason behind this is thefact that the
youngsters in Bangalore are not very comfortable spending a huge amount
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on jewellery. Also, since majority of the purchases were forgifting
purposes, our TG on an average spends up to Rs1000 on the same.
There were 10% of the customers who spent between Rs1000-Rs1500
and another12.5% who spent up to Rs2000 on their purchase of FQ.
The overall sale in Bangalore was much higher than that of Delhi and Pune;
it was because a majority of the purchases in Bangalore was not by our
target group but working customers who had a higher disposable income.
When our customers were asked about the frequency of purchase ofjewellery, the following information was revealed:
Frequency of purchase
Once in 3 months 27.5
Once in 6 months 17.5
Occasions 22.5
Rarely 32.5
Table 2.8
32.5% of our TG customers in Bangalore said they rarely purchase
jewellery which is a concern for FQ. Around 27.5% of the customers
purchase jewellery once in 3 months. FQ needs to take action to build on
this percentage. Another22.5% of our customers purchase on or for
occasions, hence FQ can come out with different designs fordifferent
occasions to attract more customers.
While engaging in conversation with our customers in Bangalore, we cameacross 7.5% of them who had issues and complaints with respectto the
product quality. The main complaints were with regard to:
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The diamond falling off the pendants and the rings.
The gold plating on the products wearing off within few weeks.
The pendants not fitting on normal sized chains and FQ do not offer
chains.
Comments and feedback by the customers
Would like to see more variety. Should come out with jewellery sets. Different finger ring sizes will be great. Provide chains along with the pendants. Gifting boxes required. Overall a really good experience.
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COMPARATIVE STUDY
There are no sources in the current document.A pilot was conducted
in Bangalore and Delhi in order to check and understand the demand forFQ among our target audience. The following figures were obtained from
various sources to help in the comparative study among these cities:
Sales in rupees
City February March April May Total
Bangalore 2,67,882 4,22,436 1,89,732 1,43,672 10,23,722
Delhi 1,88,314 1,82,487 1,58,759 1,36,936 6,66,496
TABLE 2.9
Among the 2 cities, Bangalore has shown maximum sales in the past 4
months with a total of Rs10, 23,722. Delhi has a sales figure of Rs6, 66,496
The sales in February and March are higher in both the cities owing to the
promotional activity conducted during that time period.
Reasoning:
The highest sale is in Bangalore because a large number of thecustomers are actually not our target audience. The customers who
areabove the age of 24 have more spending capacity and hence are
willing to spend a higher amount on jewellery as compared to our TG.
Another reason for higher sales in Bangalore is the culture. A largenumber of girls in Bangalore wear jewellery to college when
comparedto Delhi.
The salespersons in Bangalore are able to convert the walk insinto actual sales on a consistent basis while the salespersons in
Delhi and are laid back leading to limited sales.
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Walk ins
City Weekdays Weekends
Bangalore 4-5 10-15
Delhi 1520 2025Table 2.10
Maximum walk in is seen in Delhi followed by Bangalore as stated
by the sales people in the kiosks.
Reasoning:
The mall selected for the FQ kiosk in Bangalore is a majorreason for the low number of walk in. Also, the location of the
kiosk at Phoenix mall in Bangalore is causing limited number of
walk in.
Delhi sees a high number of walk in as the kiosk is located atthe very entrance of the mall.
Conversion Rate of walk ins to sales
City Monthly walk ins (Avg) Customers(Avg) Conversion Rate
e
Bangalore 220 113 51.36%
Delhi 150 66 11.04%Table 2.11
The conversion rate of walk in to actual sales is highest in Bangalore
followed by Delhi.
The sales people at the Bangalore kiosk are very energetic andenthusiastic which works well for them. They are able to
convert more than 50% of the walk in to sales. They are well
versed with the products and have good inter personal skills.
Contrary to the sales people in Bangalore, the sales people in
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Delhi are very laid back as observer by us. There is not much
eagerness shown by them to sell the products. They lack
motivation on the whole.
Also another reason for low conversion rate in Delhi is the pricerange of the products. Delhi has quite a number of local markets
which sell junk jewellery at really cheap prices.
Percentage of TG customers
City Total TG Customers Non TG %age of TGcustomers Customers Customers
Bangalore 340 72 268 21.17%
Delhi 265 97 168 36.60%Table 2.12
This is a major issue faced by tanishq with regard to FQ.
Out of the total customers in Bangalore and Delhi 21% and 36% was
our TG respectively.
These percentages have a major impact on the sales figures mentioned earlier.
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Purchase Decision
Fig 1.13 Purchase Decision
60
50
40Maybe
30 No
20Yes
10
0Bangalore Delhi Pune
Fig 1.26
The TG in Bangalore had a positive response towards the purchase
decision of FQ products.
Delhi had a negative response towards the purchase
decision of FQ mainly due to the price range and the TG in Delhi are
generally not into jewellery.
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Reason for No Purchase
Reason for 'No' Purchase
80
70
60
50
40
30
20
10
0Price Prefer junk Not into Dont like Others
jewellery designs
Bangalore Delhi Pune
Fig 1.14
The main reason in all the 3 cities was the price factor. A majority of them felt
that the products were too highly priced considering the fact that they are
targeting the college kids.
There was an equal percentage of TG (about 10%) in the 2 cities who stated
that they prefer junk jewellery over fine jewellery and hence would not
purchase FQ products.
In Delhi, the price factor is lower compared to Bangalore and that percentage
is shifted to the not into jewellery c ategory. There is a very small
percentage of TG in Bangalore who are not into jewellery.
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Amount spent on jewellery
Percentage
00 1000-1500 1500-2000 2000-3000 3000 above
Amount Spent
Fig 1.28
Fig 1.15
Considering the 2 cities, the budget for jewellery for the TG is up to Rs1000.
60% of the Bangalore TG spending up to that amount, closely followed by
Delhi.
In Delhi people are comfortable spending up to Rs1500.
As the above graph shows, the percentage drops as the amount increases,
with just 10% willing to spend up to Rs3000 which shows the purchasing
capacity and willingness of our TG to spend on jewellery.
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Coming down to the communication mediums . When asked about the mediums
they indulge in or spend their preferred time, these were the various responses
obtained.
FIG 1.16
As shown in the above graph the most preferred media in both the cities is the
internet. Since our TG is completely into the digital world .Secondly radio is
also a medium our TG indulges in since listening to songs is a completely
enjoyable experience for them.
Thirdly its television the most conventional form of communication medium,
followed by on ground activities which are basically indoor events and
hoardings and medians.
0
5
10
15
20
25
30
35
40
internet television radio on ground
lucknow
delhi
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Under television as a conventional medium a lot of finances are involved in
developing visual ads so when asked about their preferred channels following
was the response:
Fig 1.17
As we can clearly observe from the chart the most preferred channels are HBO,
Star World, Mtv, etc.
The most preferred channel in lucknow is Star plus, TV, whereas in Delhi the
preferred channels areMtv, Star World.
0
0.1
0.2
0.3
0.4
0.5
0.6
0.70.8
DELHI
LUCKNOW
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Internet
For Internet as a medium the most preferred sites are Facebook and Google with
a minimum percentage going for twitter.
F
Fig 1.18
As far as internet as a medium is concerned for the websites visited it was hands
down facebook which is popular in the TG captured followed by Google and a
small percentage also mentioned twitter as an option.
0%
20%
40%
60%
80%
100%
120%
DELHI UCKNOW
FACEBOOK AND GOOGLE
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PROMOTIONAL ACTIVITIES IN DELHI AND LUCKNOW
Pre-launch promotional activity in Lucknow
Row Medians: They need to be set up on the roads leading to saharaganj. To be
more precise, sikandrabagh circle to Rana Pratap Marg and all the way to the
mall. On the other side, it needs to be set up from Sapru Marg to the mall.
Radio ad: A very basic ad stating that tanishq is opening a kiosk introducing
FQ teen diamonds, a jewellery line for the youngsters starting from Rs499. Theexact date and venue is to be specified also (1
stJune, Sahara mall).
A small and catchy radio jingle must be added to the same which will get
the attention of the target audience.
Phrase to be used: Its funky, its fine.. So why shouldnt it be mine!!!!!
Here by fine we mean fine jewellery.
Radio ads talking about why parents should gift FG jewellery to theirdaughters on the occasion of class 10
thand 12
thboard results can be aired.
Two way communication
During one of the popular radio shows being aired where our TG is being
catered to, we can capture the excitement through Out Bound Broadcast links.
We could also ask the listeners to go visit the kiosk and come back and share
their experience with us. The lucky 10 callers will win a voucher for the same.
We can also ask the RJ to visit the kiosk and talk to the customers live on the
day of the launch and also when the events are going on.
The radio ad should be on air for at least a week before and post the launch for
it to be effective.
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Online: Stamp ads
Magazine
Banner ad
FQ Maze-
(1)Instead of the jewels, we can have FQ products with which theyplay with.
(2)The contestants have to match 3 or more of the same product designin order to start clearing the grid.
(3)Once you reach a score of 499 they proceed to the next level. We can have3 levels of increasing difficulty. Once all the levels are cleared we can
award them couple movie tickets.
MemorySimilar idea.
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All of the above ads leading the viewers to our web page where they participatein theThe participants can upload pictures of themselves wearing the FQjewellery purchased by them. Personal details of the contestants should also befilled in along with a phrase or sentence describing the FQ collection. The bestof the best will be selected for a small fashion show to be held at the mallnextFQ Maze:
Leaflets: Single page leaflets can be distributed at the malls mentioning
theopening of the kiosk at saharaganj.
SMS Blast: Information relating to the launch and contest to be sent to the TG.
A Promotional event is to be held at Sahara mall 2 days prior to the launch.
First have a flash mob right at the start to get the attention of a large number
of people and gather them around. It need not be an elaborate long one, butjust maybe a small dance by a group of people to the radio jingle.
Then immediately have your games and give away FQ vouchers to the winners.
Games (4:30pm8:30pm)
Find the diamond Have 4 small transparent glass boxes with a hole on top placed on
a table.
These boxes are filled with a variety of stuff. (Toffees, erasers,chains, rings, key chains, really small stuffed toys, etc.)
Call upon participants who are wearing junk and tell them that hereis a chance for them to convert their junk into fine jewellery.
Can also call upon participants from different years in college,i.e. one who has just finished 12
th,one from 1
styear of college,
one from 2nd
and 3rd
respectively to keep our TG in mind.
The participants are blindfolded and have to find the specificdiamond ring placed within the glass box.
The 1st participant among the 4 is the winner and will be giventhe FQ voucher.
Max time : 45 seconds Jingle all the way
Have participants come up and sing our jingle which they heard on the
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radio. The best of every 3 can be given a FQ voucher.
FQ Quiz FQ is a brand under i) DDamas
ii)Gitanjiliiii)Tanishqiv)Nakshtara
What is the starting price of our FQ collection?
FQ is for i) Kidsii)Youngstersiii)Adults
FQ offers i) Fine jewelleryii)Junk jewelleryiii)Traditional jewellery
iv)Cheap jewellery
What are the 5 designs under FQ?
Ramp walk contestWe can have a contest were people could participate by sending in their
photographs wearing FG jewellery and details along with an answer for
why people should go and buy FG. A lucky few would be asked to
come up and be a part of the ramp walk and display FG jewellery.
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the opening.
Around 10-15 existing customers from Delhi can be selectedfor the same.
The participants will be asked to model the jewellery whichthey had purchased along with some of our newer collection.
Each participant can be asked to bring 5 friends along withthem who will be given FQ vouchers.
The details of the friends can be taken down before handingover the vouchers to them.
Online: Stamp adsMagazine
Banner ads
All of the above ads leading the viewers to our web page where they
participate in the contests.
The participants can upload pictures of themselves wearing the FQ jewellery
purchased by them. Personal details of the contestants should also be filled in
along with a phrase or sentence describing the FQ collection. The best of the
best will be selected for a small fashion show to be held at the mall next month.
Banners can up put up at our tanishq and fastrack store present at sector18 stating the time and date of the event to be held at GIP.
SUGGESTIONS AND RECOMMENDATIONS
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From the various cities visited and the numerous interactions with the target
audience we observed that, the overall response for FQ collection has been
positive. There have been some issues and suggestions which if dealt with
tactfully could help make FQ a success in the market.
Segmenting the suggestions into four categories namely the 5 Ps of marketing:
PRICE AND PRODUCT PEOPLE PLACE PROMOTION
The suggestions are as follows:
Price and Product
A major influencing factor for our TG (15-24 years), while purchasing jewellery
is the price. Hence, in order to be able to work on this issue, small changes and
additions can be made in the product line.
Recommendations
Studs which are small pieces of earrings, could be introduced to thecollection since a there is a demand for it from our TG. Also, owing
to the small size and lesser quantity of metal used it could be priced ata lower range.
Rings offered in the collection come in a pair of two or three whichincreases the overall cost for the buyer. Therefore, offering single rings
would serve the purpose of catering to our customers demand and also
reducing the overall cost. Also single rings if made available will lead to
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higher sales as our survey shows that there has been a demand for them
from our customers.
Since the comfortable price range as observed lies somewhere aroundRs1000, more products in that price range should be introduced to the
collection which will help deal with the price issue. The high ranged
products could also be maintained in the collection at the same time for
occasional purchases.
The customers have been able to relate with the designs offered by the FQ
collection and they seem to be excited about them. Some of the additions
which could be done in order to make them more appealing are as follows:
FQ needs to come up with different designs for various occasions, since alarge percentage of our TG purchase for occasions.
Different sizes should be made available in the finger rings being offeredin order to make it more accessible for our customers. Alternatively one
can also come up with open ended finger rings which can be adjustableaccording to the individuals finger size.
The size of the hole in the pendants should be increased so that chains ofdifferent thickness can be fitted in comfortably.
Also, chains should be brought into the collection along with thependants.
As mentioned earlier, studs should be added to the product line.
The same designs with different combination of colours should beintroduced which will give the customers a wide variety to choose from.
According to the customers response a few of the products have beendefective in terms of the shine going away within a week, blackening of
silver within 10 days, breaking of the metal since it seems to be brittle.
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The packing for the products need to be worked upon. Providing abox instead of the pouches will work well for FQ.
These concerns need to be taken care of so that we do not end up losing
our customers.
People
Bangalore
There are two salespersons in the kiosk namely Sheila and Prabhakar, who
have been doing a good job out there.
They are up to date with the product knowledge, facts and figures about the
sales and have a decent conversion ratio.
Their communication skills are also pleasing and they are well versed with the
local language.
In terms of their body language they need to be pumped a bit and show a lot of
enthusiasm the minute a potential customer walks by the kiosk and show more of
the products and talk to the customers to be able to convert it into sales.
Delhi
The two salespersons namely Deepak and Praveen have not really been able to
give their best, as of now.
The knowledge level in terms of the product and the sales facts and figures is
decent.
The body language seems to be very laid back and they absolutely lack in
enthusiasm when it comes to interacting with the customers.
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In terms of the product knowledge they were pretty decent but talking about the
walk-ins and the sales facts and figures, they need an update.
They need to be more involved in the kiosk and maintain a level of enthusiasm
towards the walk-ins.
Recommendation
A training session needs to be conducted specially with the Pune salesperson
since they are new to the kiosk. Salesperson from Delhi need to be probably
given a little of brush up so that their performance can be improved and
enhanced upon.
Place
This collection has not been officially launched but, currently there is a pilot
study going on. Kiosks have been opened in Bangalore, Delhi, and Pune for the
same:
Delhi
Location
Currently a kiosk exists at Pacific mall in Subhash Nagar. Few more kiosks should be opened up in areas like Saket, South ex
and Lajput Nagar which will cater to the south Delhi audience. Areas
like Rajouri Garden and Janakpuri in the east and Kamala Nagar can
cover north Delhi.
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To name a few malls, City walk in Saket, Ambience mall in Vasant Kunjand West end mall can be considered for setting up kiosks.
Setting and spacing of the kiosk
The lighting should be such that it makes the kiosk look brightand attractive.
Lucknow
Location
Apart from the kiosk which is going to be set up in Sahara ganj mall, Fun mall
should also be considered for setting up a kiosk, so it can be made accessible
for the people residing in and around Gomtinagar.
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Promotion
According to the responses received by our TG the main mediums of
Communication have turned out to be Internet and Radio followed by on ground
Promotion and Television.
Internet
According to the survey facebook and google have come out to be the most
preferred websites followed by twitter.
Facebook:
Set up a page dedicated to FQ teen diamonds jewellery collection.
An application can also be created where a viewer can upload her picture
or the software can take their pictures directly from their account once
they choose to open the application and put the jewellery on her picture to
have a look as to how it looks on her.
These pictures if wanted could be uploaded and shared within facebook.
People can also upload pictures and videos of themselves with the FQ
jewellery on the page and win exciting offers.(discount vouchers)
Google:
Advertise on google through use ofstamp ads, banner ads, magazines which
could link the user to the website of FQ ad .They could also highlight the
gratification offered for the contests which are on to attract the user
Television
A TV commercial can be aired on channels like MTV, Channel V,
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Star, HBO etc.
A situational ad depicting the superiority of fine jewellery over junk.
Through such kind of a situation we can try and connect with our TG by
bringing out the importance of a brand and quality. Our TG would
definitely connect with such situations because; being laughed at and
mocked by their friends would be the last thing a teenager would wish to
face.
The ad can be such that it creates an aspiration among the teens to own
FQ products.
According to the analysis, price has been the major issue and not much
can be done about that, so in order to convince the audience to come in
and buy fine jewellery in spite of it being expensive in comparison to
junk, we need to hit their emotional chord by bringing in their friends and
their boyfriends into the picture because at that age they are their world.
Through such situations the ulterior motive is to bring out the importance
of fine and branded jewellery and convince them to change their
preference from junk to fine jewellery and make it the in thing.
Movie Theatres
An ad can be put up during the movie breaks and prior to the start of movies
because thats a place where we would find our TG.
On Ground
A press conference can be held in a college, preferably a girls college
(Mt Carmel), for the formal announcement of the launch of the collection.
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Tying up with the colleges during the fests and putting up stalls there.
Putting up hoardings on the roads.
86
Putting up banners outside Tanishq stores.
Distributing leaflets outside malls, college gates and other events such as
rock shows which happen in the cities on a regular basis.
Radio
This would be one of the best mediums to be able to convey our messages to
our TG.
Fabrication-Through this method we can build a story.
Here we can bring in customers and people to share their experience and
views about the collection and then may be dedicate a song at the end to
one of their best friends.
Contest-This is another effective way through which we can put some
contests and give away some gratification in order to hold the interest of
the audience.
FCT (Fixed commercial time) - Here we can play a jingle or we could
have a situational ad in order to convey the availability of the collection
and the kiosk.
Content ideas
Surprise your kid-Recently the results of the board exams had been released using
this opportunity the RJ can invite the parents to call and tell them why their kid did
do well in the exams. The best answers will be picked up and the winner will be
gratified by dropping tat their place to surprise your kid and offering him the gift.
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What to gift- here the RJ is confuse as to what should she gift to her loved ones.
She would ask another RJ and he would be tell her about FQ stating the price and
the range
Gift a song-Her the caller can gift a song to his loved by and this segment will be
tagged by brand information FQ jewellery-the gift of the season.
Fight teenage tantrums-The RJ can ask the listener to come onair and share their
experience of tackling teenage tantrums, the best answers can be gratified.
Apart from the conventional mediums, since FQ is for the youngsters may be in
the future FQ can also come up with some accessories like clips, bands which
could also be a part of the collection.
One can also set up a tattoo studio near by the kiosk for a few days as a part
of the promotional campaign.
TIE UPS
Since the most preferred brands mentioned by the TG in Lucknow was Biba and
Pantaloons so probably tieing up witj these brands the ones having stores in
Saharganj mall and to be able to sell your collection there would help.
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Conclusion
As a collection being launched by arguably the best jewellery brand in the
country, FQ offers to the youngsters a new line of jewellery products which
would enhance their personality. The designs are funky, different and attractive;
as quoted by our customers.
From our two months of research and analysis, the overall response of the
customers and people in random has been good. The sales figures from the pilot
study also second it.
A major issue was the price of the products but, with the introduction of
options like single rings, studs and chains apart from the higher priced products
would help deal with it.
Apart from that there have also been some concerns with respect to the quality
of the products being offered. Things like the breaking of earrings or the
vanishing of shine and polish within a week might hamper the performance and
so it needs to be taken care of.
From the pilot study, FQ has received a good response from the Indian audience
but in order to specifically convince our TG to come in and get addicted to our
collection we need to highlight the importance of brand and quality. We also
need to convey to them that buying branded jewellery is the in thing, in
order to instigate them to buy it and continue buying it. This can be done
through promotions as described earlier through the various mediums and use of
lines and slogans in our campaigns. As more kiosks come up and awareness is
created, FQ collection can spread like wild fire amongst the teenagers and through
our beautiful designs and quality we can hope to keep them glued to our brand.
This would also help Tanishq as brand to achieve its ulterior motive of
increasing its customers and getting them addicted to their jewellery.
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