In 1995, Titan launched the first branded range of jewellery – ‘Tanishq’ – in India’s highly fragmented and disorganised jewellery market. Tanishq performed exceedingly well, attracting a large customer base that was assured of quality and purity. However, the business recognises customer sentiments impacted by inflation, uncertain economic conditions and rising gold prices. The industry was also concerned that the young Indian woman is uninterested in and unexcited about jewellery.
To address this challenge, as well as expand the company’s reach and customer base, the Tanishq team identified a hitherto neglected segment – working women. Within 12 months, it conducted activities ranging from customer segment identification and understanding, as well as defining the proper distribution channels for aligning with the segments. The ‘Mia’ brand was subsequently launched as “the Tanishq for work wear, for the working women”.
Mia’s design and retail strategy continues to evolve three years after its launch. But despite this growth, it is almost impossible to identify the market size of potential Mia customers. Moreover, the needs of these target consumers’ are changing rapidly, and so, refreshing the range – while maintaining its affordability – is a challenge. How large would Mia’s market be? Can it become a brand in its own right? Could it be the next Tanishq for Titan?
The case can be used in both undergraduate and graduate courses in topics related to marketing innovation and branding strategy.
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