Introduction Sneha

7/31/2019 Introduction Sneha

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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.htm


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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.asp


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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-story


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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-jewelry


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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
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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.html


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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/24859


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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/


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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


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:


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

TWITTER

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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Introduction Sneha

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Transcript of Introduction Sneha