July 2015 | Kalpana Shah
Substance in the style
Titan Company is further refining the outlook and methods that have enabled it to evolve into one of India's most customer-friendly enterprises
|Titan's wedding jewellery captures the imagination of brides in India’s urban centres just as much as it does of their counterparts in the country’s rural regions|
The last 10 years have seen Titan evolve from a product-brand company to India’s largest speciality retailer. Its two most recent forays, jewellery and eyewear, used to be retail businesses that were characterised by long transaction times and high repeat purchases. The independent retailers (jewellers and opticians) dominating the market had understood this and built systems and processes to induce customer loyalty to the store.
Over the last eight years, these divisions crafted programmes — ‘creating fans’ in 2007, renamed the ‘Tanishq way of life’ in 2013; ‘making hearts beat’ for the eyewear division in 2013 — that covered the following aspects:
- Understanding the various impediments to delivering excellent customer experiences.
- Modifying policies and processes.
- Determining a way of systematically hand-holding the customer in the journey through the store, and training the staff to do so.
- Evangelising the entire programme with the staff, franchisees and other stakeholder departments.
- Conducting mystery audit and customer satisfaction surveys at each store and giving the feedback to the store for improvement.
- Linking the scores to the store incentives in some way.
These programmes took the performance of Tanishq and Titan EyePlus to the next level and made them industry benchmarks. “But there were several changes happening that made us pause and reflect on what we needed to do further,” says CK Venkataraman, chief executive officer, jewellery, at Titan.
|This is a shortened version of the main article, which is part of the cover story about the customer-centricity culture of the Tata group featured in the July 2015 issue of Tata Review. Read the complete article here >>|
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