21 Jul 2019
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Diamond Promotion A Way Ahead
Diamond Promotions
By: Diamond World News Service
Dec 28 2017 5:22PM
Reference: 15941  

The luxury market is infested with so many products and a consumer is spoilt for choices. It is becoming increasingly difficult for diamond to hold its priority in the minds of consumers, especially millenials. Only a well-researched, effective campaign will be able to retain the significance of a diamond as a product. By Kavita Parab

In a time where Instagram and Snapchat are influencing the buying decisions of the consumers and consumers have an array of luxury products to choose from, the diamond industry has an existential battle to fight. Though lately, the industry has woken up to the importance of diamond promotions and has already started working towards aggressively promoting them, it still has a long way to go. Before we get to know what is being done to promote diamonds, let us quickly peep into the earlier days of diamond marketing and promotions.

How it all started?
In 1938, amidst the devastation of the Great Depression and the aftermaths of the war, Harry Oppenheimer, the son of the founder of De Beers recruited the New York–based ad agency N.W. Ayer to enhance the image of diamonds in the United States; the practice of giving diamond engagement rings had been unevenly gaining traction for years, but the diamonds sold were increasingly small and were of low-quality.

Ayer’s team did an exhaustive market research to find out exactly what Americans thought about diamonds in the late 1930s. They found out that the diamonds were a luxury and were meant for the super rich. Other than this, Americans were spending money on cars and other luxury goods. Ayer had to market diamonds to consumers belonging to varied income groups. They wanted to create situations wherein every person planning to marry should be compelled to buy a diamond engagement ring.

In those times, traditional marketing tools like radio and newspapers were used extensively to talk about diamond trends, engagements, celebrity proposals through columns and magazine stories. However, entire narrative was presented in such a manner that consumers would simply get an idea of emotional value that the diamond resonates. The plan was to leave an idea behind – emotional value that surrounds diamonds – without hard-selling the product.

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