ajaz_eco_204_2012_2013_chapter_16_Market_Power

To do this he concentrated on fixing in the public

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Unformatted text preview: century. The supposedly precious nature of diamonds, and their association with romance and Hollywood, with James Bond and Elizabeth Taylor, have such a hold on the modern imagination that it is sometimes easy to forget how much of the glamour was the product of a professionally designed marketing campaign. For it, Harry Oppenheimer, father of Nicky and son of Sir Ernest, can take most of the credit. By the end of the 19th century, a time when the discovery of diamonds in South Africa led t o a glut, diamonds were already changing from exclusive trophies for royalty into more accessible ornaments for the burgeoning nouveaux riches, especially in America. It was not until the end of the Depression years, however, that the diamond king concocte d his scheme to sell the gems more widely. His idea was to turn diamonds into an essential middle-class accessory, a statement of aspiration to luxury, yet within the reach of bourgeois pockets. To do this, he concentrated on fixing in the public imaginat ion the instant association of diamonds with romantic rites of passage: engagements, weddings, anni...
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