Tata GoldPlus: Adoption of Customer Oriented Strategy for Penetrating Market Opportunity

Abstract

The TATAs entered the jewelry market with a retail chain, Gold Plus, which was engaged in selling branded jewelry. Their focus was on the mass market with a presence in small towns and in rural India. The sale of jewelry is based on trust which cannot be established in a day and the jewelry market has been the domain of local players who have dominated for years and have developed strong bonds with their customers over many decades. Further, there are also many players in the branded jewelry segment such as Gitanjali, D’damas, Asmi, to name a few and many other multi-national firms. These would provide stiff competition to Gold Plus. Therefore it remains to be seen how far Tata Goldplus is able to make a place for itself in the crowded market.