ajaz_eco_204_2012_2013_chapter_16_Market_Power

Creating such traditions has become something of a

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Unformatted text preview: versaries. In 1939, he launched the first American advertising campaign. By 1941, the sales of diamonds in the United States had jumped by 55%. The De Beers marketing people have never let up. Today, the United States still accounts for more than a third of world diamond jewellery sales. But now the company spends no less than $200m a year on marketing diamonds in 34 countries around the globe. It sells the dream to every new generation of impressionable young women and men. De Beers maintains an army of marketing people to keep the dream alive, sponsoring women’s magazines, hosting celebrity auctions and design competitions, and planting diamonds on television. One recent coup was to persuade "Baywatch" to devote an entire episode to a story about the purchase of a diamond engagement ring. Naturally, De Beers did not miss the chance to drive home the crude message that a man really should spend two months’ salary on his fiancee’s rock. Creating such traditions has become something of a speciality....
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This document was uploaded on 01/19/2014.

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