The De Beers Company’s Marketing Strategy

The Chinese market is very diverse, and in order to succeed there, the company has to conduct deep and detailed research on the customs, traditions, and culture of different regions of the country. Therefore, the initial task to integrate the consumer desire for the diamonds into the very traditional country is challenging and requires the untypical approach. However, De Beers managed to achieve the increase in the sales of the diamond ring, so among other jewelry, it consisted of 22% in the market by 1997 (Probert and Hellmut 12). Their chosen strategy brought such success due to the accurate detection of the primary internal motivation for marriage and its role in society.

Unlike the United States, the population in China does not have a developed concept of romance and love that usually is associated with diamonds. In fact, they are more driven by materialistic factors and make an emphasis on social status and reputation (Probert and Hellmut 11). Moreover, Asians do not feel an emotional attachment to the jewelry and have a tradition to keep it as an inherited asset (Probert and Hellmut 7). That fact allows the company to sell higher-quality diamonds at higher prices operating by the Asians practical, rather than the symbolic meaning of the gems.

As a result, women who are going to get married start requiring diamond rings from their grooms to demonstrate to the public their good choice of partner and social positioning. Men, in turn, feel the urge to buy diamond rings even if they already have been married as proof of their wealth and prestige. Thus, understanding the mindset of the specific culture and population’s motives allowed De Beers to create a marketing strategy that stimulated the demand the diamonds as an essential attribute of status and well-being.

Work Cited

Probert, Jocelyn, and Hellmut Schütte. “De Beers: Diamonds are for Asia.” (1999).

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