De Beers "Diamond Is Forever" ad campaign
- 1. “ A Diamond Is Forever” De Beers Ad Campaign: Case Study
- 2. Diamond Industry: Present Scenario • Global diamond industry is worth around $65 billion • U.S. leading consumer of polished diamonds • Retail sales over $ 30billion despite recession • 70% of the world’s diamonds cut and polished in India • Export of cut and polished diamonds down by 8 percent (near about $13024.53 million) in 2010 as against $14194 in India. Yet fastest growing diamond market today.
- 3. De Beers: Brief Overview • Founded in 1888 by Cecil Rhodes, it’s a cartel of 12 companies spread across the globe • Historically owned 85% share of the diamond market. • Infamous for influencing supply and demand to control prices - Purchasing and stockpiling same diamonds as other manufacturer - Flooding the market with diamonds similar to their competition that refused to join their monopoly • Diamond Trading Company (DTC) is the sales and distribution arm of the De Beers Group - Uses DTC as brand name and ForeverMark logo for marketting purposes - Exclusive De Beers boutiques operate in select countries • N. W Ayer & Son was De Beer’s primary advertising agency. Advertising Age named "A Diamond Is Forever“ best advertising slogan of the twentieth century.
- 4. • Losing its Grip on the Market In 1990s, several events happened: - Soviet Union collapsed, weakening partnership - Huge Argyle mine in Australia broke off from cartel - New mines in Canada discovered - Increasing popularity of synthetic diamonds •Market share fell from 85% to 45% • The Aftermath - Stopped trying to control market and instead focus on using its marketing and brand - Spent $180M on marketing in 2004 - Partnered with Louis Vuitton to open retail outlets • In 2003, earned sales of $5.5B and income of $676M
- 5. De Beers’ Marketing Strategy 1. To push the idea that diamonds were eternal, forever linked with romance, emotionally valued and a necessary luxury. 2. To strengthen the tradition of the diamond engagement ring – “make it a psychological necessity”
- 6. De Beers’ multifaceted advertising plan included… • Public Relations • Direct advertising in print and radio • Specific radio programs publicizing diamond trends • Weekly service called Hollywood Personalities which published stories in over 125 leading newspapers with descriptions of diamonds worn by major celebrities.
- 8. • In-film product placement
- 9. • Commissioning portraits of “engaged socialites”
- 10. • Series of successful magazine ads featuring works of The Great Four – Picasso, Derain, Dali & Dufy. Other artists were Jean Hugo, Bernard Lamotte
- 11. Salvador Dali Salvador Dali (1952)
- 12. Raoul Dufy
- 13. Jean Hugo
- 14. Bernard Lamotte
- 15. Evolution of De Beers’ print ads Late 30’s…
- 18. 1969 1961
- 19. 1978 1970
- 20. The ’80s…
- 21. 1993 1990
- 22. • TV ads of featuring silhouettes against the background score by Karl Jenkins (video) • Later TV ads (video) • De Beers ads in India (video)
- 23. • Ads with De Beers diamonds imposed on timeless masterpieces (Manet)
- 24. De Beers rendition of Botticelli’s “Venus”
- 25. Other gimmicks • To mark its 40th year, De Beers launched the most expensive Barbie doll till date priced at $85,000 decorated with 160 diamonds and gold (1999)
- 26. Recent Ads… ‘Right Hand Ring’ campaign to attract non-bridal market base (2003)
- 29. Viral Marketting “The Unending Kiss” (2009)
- 30. Analysis • Long term strategy – to change mindset and behaviour pattern of people rather than simply driving short term sales • Ads appeal to emotion rather than the product itself • Despite dire economic situations – Depression and the IInd World War – De Beers reinterpreted prevailing trends rather than fighting them
- 31. Bibli(ng)ography http://are.berkeley.edu/~sberto/DeBeersDiamondIndustry http://www.loosediamonds.pro/79-history-of-the-diamond-ring.html http://www.ibiblio.org/stayfree/archives/16/diamonds.html http://www.coloribus.com/adsarchive/de-beers-unbreakable-kiss-13350905/ http://www.jewelinfo4u.com/Diamond_Marketing_by_De_Beers.asp Youtube