What is the engagement rings start and develop history? What is the diamond engagement rings and De Beers’s relation? What are the details of success of De Beers in diamond engagement rings in the market? We will express the information about these questions in this written text.
A married couple’s relationship, which is one of the big diamond engagement rings, a symbol of love and commitment, is a sentient being can be-but the word is not actually a fiscal sense, the entire entity. In fact, for this you paid less the moment left the jeweler at least 50% value. This makes not a little wince?
And yet, we still feel compelled to buy them for our loved ones. Heck, even I still want one after you wrote this article. How did this become the norm? This diamond was a symbol of wealth, power, because it’s hard to imagine a century was only three quarters, and the romance they are in America today-and all because the bright, versatile marketing strategy designed and executed according to a commercial agency NW Clients, De Beers early to Ayer.
Several decades, N.W. Ayer De Beers successfully throughout the entire period of war and economic turmoil, failed to turn the market into a psychological necessity have helped a. How exactly did the Ayer diamond love, romance and marriage N.W. ultimate symbols that convinced the Americans.
The diamond industry on De Beers ‘has 80-year history of one of the most impressive castle and charming. The company creates and diamond processing the case, let’s takes a look at how the marketing used to be critical.
How it all began
Diamonds is a big diamond mines South Africa discovered in 1870, have been rare since the stones. Soon after the discovery, a South African mining, behind the efforts of British financiers didn’t do anything about it if the diamond market will be saturated Earth. In 1888, so, they can determine two bold goals:
They create and the De Beers Consolidated Mines Ltd. full ownership and control of the world diamond trade, was successful. They sold them the diamond while the strategic control and accessories stocked, cultivated a network of wholesalers all over the world. To be successful here and stabilize the market, De Beers to control both supply and demand for diamonds in the world to have to figure out a way. To do this, they must find an advertising agency.
If you are looking for an advertising agency starts, De Beers, the global economy was under threat of a European war and suffering. Their difficulty is a growing diamond market had the potential to support and then to implement a marketing campaign in these countries is to rent an agency was to figure out which country or countries. Because of the upcoming war was named Europe’s dealing because the U.S.-total number of diamonds in the United States in World War I, De Beers since the end of the decreased at a rate of about 50%, even hired the Philadelphia advertising agency NW Ayer in 1938.
The birth of the De Beers Diamond is a Vision he chose Ayer N.W. about social attitudes on their intensive research and caters to a wide audience, strategic after them because of their own ideas about how to change.
N.W. Ayer, Americans in the late 1930s, figure out exactly what he thinks about diamonds is a comprehensive market research. What they found was a luxury reserved for the rich only super diamond were considered and Americans interested in other things, such as cars and household appliances was spending their money. More and more large diamonds sell for would be the changing income group consumers market, Ayer.
So, how big a bad economy, more people can buy diamonds? It’s an emotional thing; I had to find a way of establishing a connection to the diamond. Diamond, natural value because it was not, they never had to keep people from selling them. Emotional, social, and what was valuable and eternal? Love and marriage.
The concept of an engagement rings there since the medieval period, but had not seen the widely accepted. And before World War, there was contained only 10% diamond engagement rings. A carefully executed marketing strategy, to strengthen the tradition of the NW Ayer with engagement rings and diamonds can turn public opinion about-precious stones and marriage important parts. In the end, they’re romantic relationships is an essential part of Ayer diamond is the ultimate gift of love for young men and young women, will be convinced.
N.W. Ayer most publicists diamond ring and the type, size, and their famous diamond worth of newspaper columns and magazines about suggestions of stories he wrote. Fashion designers radio shows spoke about the trend of new diamonds.
N.W. Ayer kind of reminds me of the way the first half of the twentieth century marketing in newspapers and radio as well as traditional marketing tools used today: in addition to entertaining and educational outdoor advertising generated content-ideas, stories, fashion, its brands and products supported, but it was not clear on this issue and trends. There was no direct sales person that needs to be done to protect had no brand name on the minds of just had an idea-diamond eternal surrounding emotional value. Their story has been given the diamond or diamonds, and how happy and loved this diamond was about the people who made them feel.
The Agency saw a tremendous success of the early campaign. In just four years between 1938 and 1941, they reported an increase of 55% in the US diamond sales. Riding on this success, N.W. Ayer began perfecting its marketing strategy in the 1940s. They are convinced the Americans that the missing marriages without the diamonds she wanted to.
“A Diamond Is Forever”
These four iconic words since 1948, he appeared in the ad for each De Beers and proverb that century in 1999 1. The slogan will be called. The slogan is already selected, but De Beers ‘ enormous advertising success will contribute greatly to become a choice why is ambiguous.
I was going for the perfect slogan captured the sentiment of the De Beers-also can disrupt the market and intrinsic dangerously low as mass re-sale will reveal, sell their diamonds so far is discouraging people-a diamond is forever, as your relationship the stones themselves value.
N.W. Ayer for De Beers at the very start of campaigns in the late 1930s, an engagement ring was a monthly salary recommended spending. In the 1980s, De Beers has organized a campaign to reset norms two months ‘ salary.
Over all, De Beers and their agency has created and Americans ‘ social attitudes and the marriage is not complete without a diamond ring that of convincing the people manipulating the demand for diamonds based on changing market monopolized. So are the biggest scam in the history of the diamond, or this is an example of marketing genius.
De Beers in their products (such as gold and silver) I knew it was not intrinsically valuable. Instead, their product marketing, the art of marketing to them-in this case, the values and ethics that surround to love, romance and marriage. No one in the first round, when the broad market research to buy diamonds, so they had to create their own value.
Market research on consumer attitudes to shift away from junk food to children showed a direct promotion of Kraft Foods, Inc. changed the marketing strategy as-most companies they are reactive with existing value means the former. Institutions market research showed a significant decline in the demand for diamonds, so instead of existing social attitudes shift would accommodate has executed marketing campaigns-De Beers was part of the second camp. Although a bright and successful, but also ethical concerns are a ton of opens.
Whether you’re very interesting to find out which side, De Beers is an example. It’s fascinating how De Beers and N.W. Ayer is a story around their products and value proposition has created a demand from coming up with-and still successful today. They still bring in billions of dollars each year since the beginning of the century, De Beers, although effective, has lost the monopoly of the world diamond trade. But rather and idea than marketing products, they are $ 72 billion per year for the diamond industry to build a strong foundation and a good judge for 80 years-and a story worth learning more about it.