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De Beers Diamond Jewellers
Transcript of De Beers Diamond Jewellers
The Diamond Market
Objective & Issues
-High market share
-Substantial ownership and control of diamond production and sales
-Premium quality diamonds
-Stiffer worldwide competition
-Increased production costs of mining
-Lack of brand recognition
-Increase brand recognition through more targeted marketing
-Potentially untapped markets
-Development of Synthetic Diamonds
Use of Celebrities
-Controlled production through acquisitions & mergers
-Controlled distribution through limiting sightholders
-Saturated the market
-Controlled supply, created demand, determined prices
-Luxury to necessity
-Symbol of eternal love
-Heirlooms: Eliminated resale market
-Geographic, Demographic & Psychographic Segmentation
-Initial Target Market: Young American Couples
-Expanded Market: Couples & Single Women Worldwide
Positioning & Target Market
-Male and Female
“Right – Hand Ring”
-Magazines, newspapers, movies, football games later commercials
-Primary Demand to Selective Demand
-Value Based Pricing Approach
-4C Standards: Cut, Colour, Clarity, Carat
-At least 2 months salary
Marketing Mix (Con’t)
What is your ideal engagement ring?
Largest Diamond Jewellery Market
Market Dynamic of Luxury Goods
All Time Diamond Sales in 2011
Growth from 1939 to end of 20th Century
Boom Consolidation Expansion Decline Recovery
What is more important to you?
Design Clarity Price
Brand Stone's Origin
Supplier of Choice
(Forevermark and DBDJ)
Polished Diamonds Industry
(Harry Winston, the Robbins Brothers and Samuel Jewelers)
Marketing Mix (Con’t)
(45 Stores, 15 Countries)
De Beers Diamond Jeweller
Without De Beers' monopoly, the diamond industry would not have flourished.
Without De Beers, diamonds would not have been so embedded into our culture.
Without De Beers, love would not be quantified by diamonds.
Without De Beers, an engagement would not be sealed with a diamond ring.
Without De Beers, diamonds would just be another stone.
Today’s Advertising Expense = Over $300 Million
Expansion of Strategy to Other Countries
Increase in Diamond Sales
Consecration of Engagements with Diamond Rings
Cost vs. Benefit
Four Primary Objectives
Stimulate demand to sell at higher prices
Increase sales by catering to a larger target audience
Creating a brand name for themselves
Decrease customers' resistance to buying diamonds
Government and Conflict Diamonds
Threat of Synthetic Diamonds
1888 1938 1947 2001 2003