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 …show more content…
In China De Beers had earlier the dual strategy of brand positioning "love" and "women's desire". "Love" positioning focused on diamond weeding rings, which was the positioning strategy of De Beers in Japan. "Woman's desire" campaign appeals to the self- purchase market. "Love" positioning was not quite successful due to the wrong assumption that all Asian countries have similar attitudes towards to the same occasions. Simply Chinese people do not value "love" as much as Japanese people. Chinese people value materialistic insights more than "love".

Our suggestion is to transform "love" connotations to "success". The mission should be to cultivate and simulate market demand and serve the ultimate consumption market. We would use positioning in "success" by targeting the men and families for their successful wives or children. We would cultivate the "success" and "status" desires of women in China and simulate demand by creating a particular "lifestyle of diamond-owning women". We propose to transform De Beer's legendary "Diamond Forever" campaign to "Success Forever" or "Let Your Success Shine on Your Diamond". Earlier experience of De Beers in the Chinese market taught us that it is impossible to be successful to lead in the market without knowing what is currently happening in the marketplace. With this new strategy De Beers convey a sense of specialness and uniqueness about the women wearing the diamonds.

One specific