Notesale: Turn your study into money

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This is a story about the evolution of world’s hardest and in an other way most desired and
admired substance’s company De Beers’
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In 1870, new diamond
mines were discovered near in the orange river, in south Africa
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The British financiers, who had organized south African mines
quickly realized that their investment is endangered as prices of diamonds depended
entirely on their scarcity
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It was incorporated in South Africa in 1888
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In September 1938, Harry Oppenheimer, son of the founder of De Beers travelled to New
York to meet Gerold M
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W
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In 1938, diamond sold in
America was of very low and cheap quality and mainly demanded for the production of
diamond rings
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W
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‘A Diamond Is Forever’ slogan framed by agency’s
copywriter became the official motto of De Beers
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W
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In 1960’s the campaign to internationalize the diamonds initiated with prime targets such as
Japan, Brazil and Germany
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Walter Thompson for this target as N
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Ayer was primarily an American advertising agency
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Japan, where until mid 1960’s there was no
tradition of romance, courtship, seduction was now a billion-dollar diamond market
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Walter Thompson promoted diamonds by associating them with a new dawn towards
modern life
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This was a
remarkable achievement for both advertising agency and De Beers
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As the diamonds of soviets were small and in uncut form De Beers had to reverse
its sales strategy which urged the public to give importance to quality and cut over sheer
size
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28 carat in 1976
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W
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1 billion as compared to $23
million in 1938
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For this, an illusion of diamonds being ‘Forever’ was created which meant never to be
resold
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Many entrepreneurs came up with the sale of investment
diamonds which at last proved to be fraudulent
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Another problem rose when Israeli dealers started stockpiling diamonds to take benefit of
currency devaluation
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Consequently, diamond prices went
down enormously
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De Beers rapidly got a hold on
them with little obstructions
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Also
in Africa, De Beers empire seemed to be ceased sooner
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Limitations:
No brand name:
De Beers did not give a specific brand name to its products
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Patent rights: De
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Effective
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