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For about 30 odd years, every Tanishq campaign has aimed to build meaningful relationships with its Muse, the modern Indian woman, and celebrate her unique perspective. This Diwali, staying true to this Tanishq tradition, the brand is celebrating the modern-day queen - the "Nav-raani" who is deserving of jewelry that mirrors her beauty and strength.
Tanishq's latest brand film, directed by Mira Nair with creative support from Lowe Lintas, further reflects the brand's positioning as an "international local brand," deeply rooted in the diverse communities it serves, according to its CMO, Pelki Tshering.
Addressing the importance of regional variations in festive traditions and preferences, Tshering explains, "This campaign's Nav-raani is going to be more relevant to the North and the West of India at a product level, and in other markets in the South where it's relevant."
Tshering further elaborates, "Take Tamil Nadu, for example, where there are deeply ingrained cultural nuances in the rituals. Our Arpanam collection and the Pudhumai Penn celebrates these specific rituals, drawing upon elements that are deeply significant."
She continues, "Similarly, in West Bengal, our Aalo collection draws inspiration from Ma Durga and the rich art and craft traditions of Bengal."
Tanishq, as a storytelling brand builds on strong narratives to build brand equity. Tshering explains, "We will continue to focus on equity-building mediums like TV and CTV, where our target audience spends a significant amount of time."
She cites the recent example of the Rivaah campaign promoting equal marriages. "This campaign was the first of its kind to launch a multilingual campaign on all leading regional channels. We did this specifically to reach our target audience," Tshering explains.
Recognizing the rapid growth of digital media, Tshering says, "The digital medium allows us to engage in topical conversations. While we're not a topical first brand, we leverage opportunities to celebrate narratives around women. For example, our Superwoman campaign launched in March, and our recent Father's Day campaign celebrated the role daughters play in raising fathers, showcasing a different perspective."
Tanishq's media choices are guided by its understanding of the target audience and its purpose. "We are constantly working to drive omnichannel leads from a media choice and investment perspective," Tshering states.
With a positive outlook on the upcoming festive season, Tanishq is expecting significant growth. "Our ad spend will see double-digit growth over last year, driven by recent positive developments in the gold market, the upcoming wedding season, and the excitement around our new collections," Tshering shares.
"From a market share perspective, we've always maintained a 6 to 7% share within the organized players. From a growth perspective, while South and East India saw strong growth in the first quarter, we expect the upcoming quarter to see significant growth in North and West India," asserts Tshering.
According to a GroupM report, Connected TVs are expected to reach more than 45M households by the end of 2024.
Tshering recognizes the value of CTV for reaching premium audiences and delivering a strong ROI. However, she stresses the importance of both CTV and linear TV, particularly as Tier 1 and Tier 2 towns drive growth in the jewelry industry.
As long as the brand continues to be design-differentiated, provide excellent customer experiences, and build meaningful relationships with its customers, Tshering is confident that Tanishq will continue to thrive amidst competition.