Jamestji Tata is often referred to as the father of Indian industry. His multinational conglomerate, Tata Group, has constantly helped India to strive for business growth. The foundation of industrial growth laid by Jamestji Tata was successfully carried by his heir Ratanji Tata. Over the years successful running of business created an unending trust of Tata among common people and capitalising on the same, they built one of the biggest consortiums of companies.
Tanishq Carries the Trust Of Tata
Among such subsidiaries, Tanishq is the biggest jewelry brand founded in India. Founded in 1994, Tanishq was the first jewelry retail brand in India. With a reputation for exceptional craftsmanship, unique designs, and high-quality products, Tanishq became the most trustworthy brand in India.
Using the four foundational market strategies, that is, Product, Price, Place, and Promotion, Tanishq dominated the jewelry market. They categorized the higher class, middle class, and lower-class products according to their demand and targeted their customer base. Considering India’s middle and lower middle-class society, they kept the price competitive for their products. As jewels are expensive and luxurious products, they prioritize their sales through retail shops. Moreover, through extensive digital marketing promotion, Tanishq reached every home in India.
Traditionally, Jewelleries in Indian societies, especially in Hindus, play a more crucial role. People not only buy it for the ornamental purposes but they also carry substantive value in other matters. For example, rather than keeping large amounts of money in cash for contingency purposes, Hindu society keeps it as a guarantee to meet such critical situations. So, that they can get the value of bullion as per the market rate. But the unfavorable exchange or return policies in the unorganized jewellery market created forced such customers to search for trustworthy brands who can provide some fair value of the bullion.
As brands follow customer demand, Tata came up with its trust. They created Tanishq and provided a complete solution for the jewelry market. They build the trust by providing pure gold products and 100% equal return of gold value.
In October 2020, an ad was created by Tanishq by showcasing a Hindu woman married in a Muslim family and happily renouncing her Hindu tradition in her baby shower function.
In the video advertisement, a graceful dupatta-clad elderly woman, takes the newlywed woman to the home garden with her hands adoringly caressing her shoulders. The newlywed starts grinning. The video seems to create God-bharai (baby shower) like function. Then the newlywed says, “Mother, this ritual does not exist in your family, does it?”.
This advertisement video clearly reflect the Hindu religion of the pregnant lady and her marriage in a Muslim of the family. Now, one would ask what is the problem in showcasing such confluence of religion. The problem is Love-Jihad. On one hand these ads constantly represent Hindu marrying a Muslim in very gracious ways. On the other hand, thousands of cases of Love-Jihad are reported in various parts of the country. By dubious means, Muslim men marry a Hindu girl and after sometime they are found in some dustbins.
That is why people were gravely hurt and launched a social campaign against the company. But, despite such a long and strong boycott movement, very limited business of Tanishq was affected. It was the strong trust of Tatas that people were very reluctant to withdraw buying. The quality Tanishq provides in the market cannot be matched with anyone. Moreover, after the social boycott movement, Tanishq acted quickly and withdrew the controversial ad from the public platform.
The name Tata carries a different level of trust in Indian minds. Involved in almost every domain of business, Tata does business on trust. With the addition of modern marketing techniques, Tanishq outsmarted every other jewellery brand in the market and continues to flourish.
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