how & when did De Boors create a demand for diamond rings?
Crazy Eagle asked:
I am looking for info on what has been described as “the most successful marketing campaign in the history of business.”
I am looking for info on what has been described as “the most successful marketing campaign in the history of business.”
De Boor created a demand for diamond rings by playing on human emotions of insecurity, love-sickness, and desire for status. And, they now restrict the supply of diamonds to keep the price high - Diamonds are not rare, I am told.
But I need details! I would like to teach this as a business case study. Thank you in advance.
December 29th, 2008 at 3:03 pm
I believe you know your answer already. As you said advertising, withholding their product and playing on human emotions did the trick. I doubt very much if you’ll learn more than that. They are very secretive about telling the world how they did it.
January 1st, 2009 at 3:34 am
I hope you’re not going to teach anyone about De Boor.!!! The company you are referring to is DeBeers.
January 3rd, 2009 at 12:20 pm
The sales and marketing arm of De Beers is a company called the Diamond Trading Company (the DTC). This company sells almost half of the world’s rough diamonds by value. Other diamonds sold through the DTC include those purchased from the Russian diamond mining company Alrosa). The DTC also creates and develops marketing programmes to stimulate interest in, and demand for, diamonds and diamond jewellery.
De Beers (through its sales and marketing arm, the DTC) has been very successful in increasing desire for diamonds. The famous advertising line “A Diamond is Forever” was coined in 1947 and the company has created many successful campaigns since then. One of the most effective of these has been recognising the diamond as a symbol of love and commitment and therefore the ideal jewel for an engagement or wedding ring.
Some of the campaigns started by De Beers include the “eternity ring” (as a symbol of continuing affection and appreciation), the “trilogy” ring (representing the past, present and future of a relationship) and the “right hand ring” (bought and worn by women as a symbol of independence).