8th August 2018, livemint, E-paper, Titan aims to boost jewellery market share, http://www.livemint.com/Companies/zstwe5p9oXctKrVC4cLMBP/Titan-aims-to-boost-jewellery-market-share.html, accessed on 12th January 2018.
• Focus on High-end Luxury segment: More efforts need on communicating Tanishq as luxury brand for Elites. Tanishq has leverage on the popularity of Indian Movie Actors like Amitabh & Jaya Bhachan, Deepika Padukone, etc and they are their brand ambassadors and has made jewellery for Epic Movies based on Royal families. Despite this, the elites are not seen adorning Tanishq jewellery on their wedding, engagement, reception, red carpet events, award functions.
A new trend has emerged where famous fashion designers like Sabyasachi,
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• Global expansion: Tanishq has a very strong regional presence but no global presence. A handful of companies have an international presence in the jewellery industry. Tanishq can leverage on its strong brand image and expand to cities outside India.
1. Target Indians: Indians are spread across globe and the number is increasing. Tanishq can target Indians outside India which is a large segment.
2. Target Non-Indians: Jewellery is popular with everyone and not just Indians. This is a huge segment which Tanishq can enter with its product range but Tanishq needs to adapt to Westernize, Contemporary, designs which are more favourable in respective regions.
3. Fusion jewellery: This segment is popular more outside India, and this could be another segment for Tanishq to enter. IV] Improved use of owned, earned and paid digital media
From the audit in part1 of the report, following is the overview and recommendations on digital and social media of
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1. FB campaigns, with good images will do go. Tanishq followers likes the product pics and they have a better engagement rate for product images.
2. Contest are an excellent way to get followers engaged, Tanishq to do more by incorporating product images so the contest doesn’t get overlooked by the posts with only product images.
3. Tanishq’s entire traffic is organic, a mix of organic and sponsored posts is recommended. Promote new products, collections with sponsored posts. This will increase the reach, followers and engagement rate.
4. Survey’s are another way to get information, feedback along with increase in engagement rate. Survey’s on customers feedback on shopping experience, most liked collection, etc.
• Establish a dialogue: Tanishq does not reply, start a dialogue by themselves with the customers. This needs to be done proactively.
• Review: Even though the overall review is great but there are many customers who have complained about product quality, store
Also, if a customer had a complaint about their food, we would not only apologize for the situation, but also give them complementary coupons to use on their next orders. Being curious to your customers really matters, because it shows that you care and that their business matters to the company. Even having a suggestion boxes for your customers, so that your business can get feed back and know what areas are needing improvement in will also matter as
Having prior knowledge of a customers needs, habits, and questions before or during every interaction and transaction can boost customer satisfaction. (Zueschner, Raymond. (1997). Communicating Today. Boston: Allyn and Bacon.
First, new materials like metal clay, polymer clay, natural clay, ivory, bones, shells, wood, enamel, plastics and glass are being used. Second, some developments have taken place, improving the quality of artificial stones and making jewelry available to larger population segments from an economic point of view. Furthermore, the influence from other cultures and artistic forms is also changing the traditional jewelry. According to several publications, at the end of the 20th century a mix between Oriental and European techniques has been taking place. A case in point is Hawaiian jewelry which is highly fashionable and is enjoying of an increasing popularity during the last decades.
We have to make them want to wear their rings more by encouraging jewelers to create more practical designs which won't frighten off the traditionalist.
· Use of social media for promotion- word of mouth and social media help to get the message across and promote the product efficiently
I have taken the time to talk with the new and returning customers about the issues. After talking with them, I have decided that the returning customers will give us a clear picture of things that need to be changed. Many say they are having problems with new customers not understanding where to stand. This issue causes new customers to inadvertently cut people in line making the ordering process longer. Focused on guarding their place in line, customers fail to look at the menu; as a result, once they reach the cashier. They are not ready to order. All of these issues lead to long lines and
Michael Hill Jeweler is the middle market leader in New Zealand and Australia. Whereas, in North America and Canada Michael Hill jewelers are considered to be the challengers.
The core business of M/s. Meena Jewellery Exclusive Pvt. Ltd. is Jewellery.Promoters of the said unit have the expertise in the jewellery section and they want to expand their business in jewellery section only, by focusing on the same. Moreover, they aren’t experts in retail
Qantas uses many media channels like TV, print, online ads etc to market itself. Qantas frequent flier, loyalty program is considered as one of the best loyalty options, it offers a lot of facilities to the frequent customers of Qantas, and maintains the balance between holding new customers and acquiring new ones. Aboriginal and Torres strait islander initiative, in association with Australian community of Aboriginals, Qantas promotes the original arts and culture of Australia, branding itself as the ‘spirit of Australia’. Offering sophisticated, hi-tech facilities, and high safety records, Qantas has developed itself as a premium brand recognized as a status everywhere. The brand name itself attracts millions of passengers, who trust and
Another challenge would be getting those who signed up to keep using the social site. Generating revenue from the social site will be an additional challenge. Tan will be able to charge for advertisers, but the charge will be minimal with less customers; the more people she can get to sign up for he signs the more she will be able to charge the advertisers. She may get to the point of charging the customers to sign up. The last challenge Tan will face is to maintain the people who have signed up and still bring more people to her
Promotion will come in the form of indirect communication through such social media as well as face-to-face communication within the stores in areas that I plan to introduce the product to (Bovee, 2012, p.308). Using social media I believe it’s a great tool and the use of it could be exponential without spending a fortune to promote. Promoting within the store will better inform potential customers of the new product and hopefully encourage to purchase.
1. Natural and cultural diversity : India has a rich cultural heritage. The "unity in diversity" tag attracts most tourists. The coastlines, sunny beaches, backwaters of Kerala, snow capped Himalayas and the quiescent lakes are incredible.
Complaints are a good form of feedback. They're a few steps to follow in handling difficult situations. The first is to Focus and listen to the customer. The next is to be courteous and discreet, if possible take the customer away from others. Then suggest way(s) to fix the problem, if nothing can be done thank the customer for bring the problem to your attention. If you can't fix the problem go to somebody who can but stay there to make sure the problem is resolved. Then find the solution and implement it, then check the customer is happy and re-thank them for bring the problem to your attention. Last off all record the situation in your establishments logbooks.
...es for more than 40 millions people in the poorest areas in India. They reflect the company’s value and raise the voice of the company in India.
It is a highly fragmented US market estimated at approximately 54 billion dollars. The breakup of the industry is accordingly: mass merchants representing 10%, chain jewelers with 100+ stores as 14%, chain department stores representing 12%, TV home shopping with 4%, independent jewelers taking the largest share at 36% and other (general, misc.) accounting for 24%. (Please refer to exhibit E)