As the world’s leading diamond company for more than a century, the De Beers name Is synonymous with diamonds. Since 1888, It has been connecting people around the world with one of the earth’s natural treasures, helping to create countless memorable moments. Approach High tech x-ray machines uncover diamonds With geographically diverse world-class mining assets, it have the largest diamond resource and reserve position in the world, as well as a value-adding global distribution network and iconic brands that resonate with people from all walks of fife. Irking with such an emotive, sensitive and valuable natural resource creates great responsibilities – to the shareholders, the partners, the customers and to the countries in which they operate, and people everywhere who treasure their diamonds. That’s why living up to the promise of diamonds is core to the business model and guides everything they do. Http://www_youth. Com/watch? F_Marxian In technological leadership Diamonds are recovered from the bottom of the sea, from the beds of ancient rivers and from the bottom of frozen lakes. Success comes through: Systematic exploration ND analysis Strong diamond mining experience and expertise State-of-the-art diamond processing uniquely focused diamond technology World leading research and development “Cutting diamond Is both an art and a science. ” J Charleston.
In the Integrity of diamonds They have been among the world’s leaders In advocating and developing an ethical supply chain in the diamond industry through: Advancement of the Kimberley Process to ensure diamonds are free of the taint of conflict The sale of rough diamonds to only those clients who have met pre-defined financial, performance and ethical standards A code of Best Practice Principles we apply to ourselves, as well as to our suppliers, customers and partners. Kind of target audience The first part targeted men, encouraging them to buy the rings as symbols of the past, present, and future of a relationship.
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The second, aimed at women, promoted three-stone diamond earrings and necklaces as a way for a woman to celebrate life with her significant other. The challenge of bringing back to the fashion forefront the outdated cocktail rings buried at the bottom of women’s Jewelry boxes led to creation f the so-called “right-hand ring. ” But the right-hand ring also provided an opportunity to reach a previously untargeted niche of nearly 77 million people: 45- to 65-year-old professional women, both married and single, with household Incomes of $100,000 and up..
This woman knows herself, she’s proud… . She reflects her confident style through a luxury purchase,” Lynn Diamond told Israel Diamonds 1 OFF United States division of the ETC, said that the right-hand ring created a category for, and gave meaning to, diamond rings not classified as engagement, bridal, or anniversary Jewelry and encouraged women to buy the rings for themselves as a way to express their personal style. Http://www. youth. Com/watch? NOR=I http://www. youth. Com/watch? =aluminum_-k&feature=related Perception of the brand – “sell not Just a diamond ring but an idea” Following the success of its three-stone-jewelry campaign, which promoted rings, earrings, and necklaces as symbols of love and enduring relationships, in 2003 the Diamond Trading Company launched a new campaign to sell not Just diamond rings, but an idea. Unlike previous campaigns that portrayed the diamond ring as a symbol of love, he “Raise Your Right Hand” campaign promoted the diamond ring as a badge of individual style.
Claudia Rose, director of marketing strategy at J. Walter Thompson, said that the right-hand ring campaign was different because it linked diamond rings to fashion rather than romance. “This gives women another message,” Rose said. “Diamonds also can represent a woman’s unique style and be expressive as something like their favorite leather goods. ” Certain ads had edgy, evenings-clad fashion models showing off right-hand rings. Each ad also featured a significant sage to distinguish the right-hand ring from the engagement and wedding ring worn on the left hand.
Among the statements were: Your left hand says We. ‘ Your right hand says ‘me,’ ” Your left hand likes to be held. Your right likes to be held high,” Your left hand is your heart. Your right hand is your voice,” and Your left hand lives for love. Your right hand lives for the moment. ” Each ad included the tagging ‘Women of the world, raise your right hand. ” Research strategy Many experts recognize that the diamond industry has been successful, largely cause of the manner in which it has been marketed by De Beers.
These efforts have not only helped sustain the monetary value of diamonds (by checking that supply does not exceed demand), but also bring them within reach of the ordinary customers. Its famous campaigns and slogans include ‘a diamond is forever’, and its concepts of eternity ring (symbolizing continuous affection), trilogy ring (symbolizing the past, present and future of relationships) and the right hand ring (symbolizing independence for women). It is estimated that De Beers spends approximately $1 50 lion every year Just on advertising efforts.
Its advertising has been phenomenal too. As the diamond market recovered in 1934, the NW Are advertising agency began promoting sales by presenting the diamond as a stone with great value while linking it with the emotion of love. By 1941 sales of diamonds had risen 55%. In 1968, De beers hired J Walter Thomson, a leading ad agency and started promotional campaigns in Japan. Such was the success of the campaign that from 1968, when less than five percent Japanese women received diamonds as their wedding rings, the numbers Jumped to by 1981.
Today Japan is a large market for diamonds, Reason for success The “Raise Your Right Hand” campaign was a marketing success for the Diamond Trading Company. Prior to the campaign’s launch, diamond-ring sales were at the low end of the diamond-jewelry market, representing 28 percent of diamond Jewelry, or $3. 3 billion in sales, in 2003. Following the introduction of “Raise Your Right Hand,” in 2004 non bridal ring sales increased 15 percent. The campaign also created a cultural phenomenon by convincing single women that they could have a diamond ring without an engagement or in addition to a bridal set.
And while the campaign originally targeted women with household incomes of $100,000 or more, right-hand rings soon were available at stores from Cost and Wall-Mart to Tiffany & Company and ranged in price from a couple hundred dollars to several thousand. Besides appearing on the right hands of stars such as Cameron Ditz, Charlie Thereon, Hale Berry, and the female cast members of Sex and the City, women in all income brackets were soon sporting the rings. Clothing designers such as Betsey Johnson and Ca Poses, recognizing a growing trend, paired right-hand rings with their 2004 bring ready-to-wear styles.
In 2005 the campaign garnered a Gold EFFIE Award from the New York American Marketing Association for “exceeding its objectives of bringing ring growth into line with total diamond Jewelry growth. ” The campaign was also recognized for pushing single women into the diamond-jewelry-buying market and achieving 39 percent product awareness among consumers in the year following its launch. Impact on the consumers Consumers prefer this brand over all other brands due to the level of quality it provides and a certificate of authentication with that. It has earned a reputation in the eyes of consumers.
Females are able to associate to the brand as it aims at selling the idea and not Just the rings which in turn becomes a matter of proud and confident to own one. The right hand ring concept was very much appreciated by the females. It is well known among ladies for its eternity rings, diamond tennis bracelets, and three-stone anniversary rings. Females agreed with the perception of the brand that the diamond rings were no longer Just for engagements and weddings. Baby – boomer women with annual household incomes of $100,000 or ore prefer this brand because in this range they get a lot of amazing designs with quality.
Since the ads of De beers included fashion models dressed in evening clothes showing off the rings wherein it was declared, Your left hand says We’ Your right hand says ‘me’ ” the women were encouraged to change their way of thinking about diamond rings. Not only could women wear them to express their individual style, but they could buy the rings for themselves rather than waiting to get a diamond as a token of a man’s love. The M. ‘omen next door” could also connect to the rings and other ornaments.