A quintessential symbol of love - what a marketing campaign!!

We always talk about how society and the environment  in which we live influence individuals and organizations . We all agree that norms, beliefs and values prevalent in our societies guide us. They draw boundaries within which we act or behave. We often underestimate the power and influence of individuals and corporates. Who would think that a profit making organization can shape the global society. Well, multinational corporations are increasingly seen as careers of globalization. 

Recently, I read about the marketing strategies of a company called De Beers. I am sure undergraduate and Masters' level marketing students have come across this case. But this is the first time I have read about this company. De Beers is renowned for its jewellery business, particularly for its diamond product line. How they have developed and executed their marketing strategies are not only fascinating but also inspiring. How they have ingrained their marketing 'tag line' in Western societies is phenomenal.

Initially, the company thought that consumers use diamonds as a fashion. But, a market research by an advertising company changed this perception. It found that fashion was not the key reason why consumers bought diamonds but but rather it was because they were a symbol of love. So they decided to market diamonds as a symbol of love and commitment. They came up with the tag line, 'A Diamond Is Forever' in 1947, which is arguably the best advertising slogan of the twentieth century. 

For me, more intriguing than the tag line is the marketing strategies used by De Beers to promote this tag line.They used the following marketing strategies:

• writing (or re-writing) scenes for Hollywood movies that injected diamonds into romantic relationships between men and women
• giving diamonds to movie stars to use as symbols of indestructible love 
•  placing celebrity stories and photographs in magazines and newspapers to reinforce the link between diamonds and romance
• using fashion designers to talk on radio programs about the “trend towards diamonds commissioning artists like Picasso, Dali, and Dufy to paint pictures for advertisements, conveying the idea that diamonds were unique works of art 

These strategies have made diamonds a symbol of love as a strong belief of the Western societies. Today, hardly any marriage in Western societies take place without an engagement, and few engagements take place without a diamond engagement ring, regardless of the economic status or the social position of the bride and groom. The size of the diamond in the engagement ring may reflect the affluence of the couple.

For me, this case has significant importance for individuals, organizations and society. First, research and development is a pre-requisite for any marketing effort. Second, an eye-catching 'tag line' is no use without sound marketing strategies. The success depends on how the marketing strategies are executed and implemented. Third, corporates and individuals are capable of shaping the environment and society in which they are embedded.

Note: This is part 1 of the reflection of a reading on De Beers marketing strategies. Over the last 70 years, they have been refining and redeveloping their market campaigns. They have never been complacent in terms of marketing. I will be reflecting on them in the future. Please note that my reflection is focused only on the company's marketing strategies.