The new ad campaign of the Rs 345-crore branded jewelry player Tanishq, focusing on the new exchange 19k=22k offer, will hit print and electronic media on Friday. Outdoor media will also be used extensively. V. Govind Raj, GM, Retail Operations and Sales, says the campaign developed by Lowe will focus on the exchange offer which gives consumers a chance to test their jewelry and exchange them for 22k Tanishq certified gold jewelry.
Giving details about the advertising strategy, Raj said the around Rs 20 crore is spent on the various promotional activities. The focus of past ad campaigns of Tanishq were on innovation and awareness. However, the upcoming campaign will try to convert all fence sitters into buyers. The 19k=22k scheme is a step in this direction: with the help of a karatmeter old jewelry of consumers will be tested. If they so desire, the old jewelry can be exchanged for new Tanishq jewelry of the same valuation after deducting the margins, he said.
The total jewelry market in the country is estimated at Rs 40,000 crore, of which branded players have a share of Rs 1,000 crore. Tanishq holds a 35 per cent share of this market. Currently, Tanishq jewelry is marketed through 66 retail outlets across 51 cities. Of these, 90 per cent are franchises, the balance 10 per cent being company oultlets. The number of these outlets will increase to 75 this fiscal, mainly through franchise operations, Raj informed.