Consider this:
In 1932, the global market for diamonds was $100,000. De Beers changed that forever by altering the perception of the purpose of diamonds. They launched a deliberate campaign to create an association in the minds of young men that diamonds are a gift of love, and an association in the minds of young women that diamonds are an essential part of romance and marriage. Their strategy included seminars on diamonds to high school students, news stories about celebrity romances and their diamonds, and strategic product placements in Hollywood movies such as “Gentlemen Prefer Blondes” and “Diamonds are Forever.” So how did the strategy work?
More than 100 million women now wear diamonds.
Over 75% percent of brides receive a diamond ring.
The market has grown to 50 billion dollars.
De Beers controls two thirds of the market.
Frightening, isn't it? Now millions of men everywhere like myself will have De Beers to thank when we plunk down that 3-6mo salary savings on a rock. (OK, OK, it's really for that sparkle in your eyes when we get down on one knee, but still).
And now what are they working on now that they've convinced the women of the world that diamonds are a symbol of love?
The new De Beers campaign targets women's right hands. The left hand says "we", the right hand says "me." The message is that even if you are married you can still make a statement with your other hand. And, if you are not married, you will still want to make a statement--and you can make a statement of independence with your right hand. This new campaign is targeting emotions, changing perceptions, and redefining the category once again.
"Women of the world. Raise your right hand."
Genius, I tell you. Pure genius. You gotta hand it to these guys. I have a newfound respect for marketers now.
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