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

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

Salma Ahmed (Aligarh Muslim University, India)
Copyright: © 2014 |Pages: 17
DOI: 10.4018/978-1-4666-4357-4.ch020

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.
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Goldplus Retail-An Innovative Retail Venture

The company first undertook a pilot study in Erode in August 2005 and Rathlam in Madhya Pradesh to test their concept of retail in jewelry. Satisfied with the results of the study, it set up retail chains in different parts of the country. It has set up 97 showrooms in 68 cities providing the comfort and ambience that the consumer looks for. These showrooms have warm and professional salesmen and provide a different and superior shopping experience.

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