De Beers: Diamonds are for Asia
Strengths:
? There are commonalities in diamond perceptions more than differences
? Average price of every piece sold was more than twice of US or Europe as size and quality of diamonds is greater.
? 1990 help the jewelry industry to develop
? Diamond acquisition threshold in China was a house hold income of 250 USD per month.
? Expanding group of newly wealthy people, openness to change
? About status within your peer group. Even people on low monthly salaries would buy a high quality diamond: it was a family driven purchase.
? American market is booming.
? If you are modern women you feel confident and successful if you are a traditional you feel valued and proud.
? For women, jewelry was an expression of self-enhancement, a symbol of femininity.
? Demonstrating the status of the wearer and the family.
? Women buying diamonds for themselves, for the joy of wearing them invested in jewelry in case of emergency.
? Final contribution of de beers to the diamond pipeline is the promotion of diamond jewelry for the industry; through advertising campaigns developed from extensive market research; trade promotional activities and jewelry design competitions
? Slogan "A diamond is forever" echoes durability and appeals to the emotional attachment of the owner to the stone.
? We have to make them want to wear their rings more by encouraging jewelers to create more practical designs which won't frighten off the traditionalist.
Weakness ...