Consumer Marketing: Case example, Diamonds!

If  diamonds are a girl’s best friend, then what relationship does a man have with  this precious stone? diamond2

Consumer  marketing can be very influential and even precipitate change in consumer buying  behaviour and perceptions.  This  blog exposes the message behind the  marketing.

Consider three  effective consumer marketing examples below, and how they shaped buying patterns:

1.       Deodorant  vs Antiperspirant*.  There was a day when everyone wore  deodorant.  But a commercial many  decades back changed all that almost overnight.  The commercial ‘mocked’ a man in the  boardroom who raised his arm and embarrassedly noted sweat stains under his  armpits.  The Brand was powerful and  eventually influenced the masses to use Antiperspirant.  “Wet” underarms became synonymous  with bad hygiene.  Though now,  going the all-natural deodorant-route and letting pores breathe, is changing behaviour  again.

2.       Another,  more recent marketing campaign, targets human vanity and hygiene standards is Teeth Whitening.  For years, few cared about possessing “neon bright chicklets” and went to the dentist once/twice a year.  But now teeth whitening products are  fast becoming the best sellers in the Consumer Hygiene category….with huge  profits.

3.     Diamonds!  Diamonds are a fabulous consumer  marketing strategy.  Marketers have  struck gold here! (ok, well diamonds I guess…).  The primary marketing message around  buying Diamonds is to symbolize ‘everlasting love’.  But the secondary message preys on our  social consumerism and what Consumer Behaviourists describe as our perceived social statusThe bigger the diamond, the more ‘status’ some say…. 

I  never worry about diets. The only carrots that interest me are the number you  get in a diamond. Mae West

Diamonds  have become so entrenched in our social fiber that men will spend upwards of  3-4 months’ salary to impress his beloved gal.  But the increased divorce rate is  playing havoc with the diamond market.  Men or women wishing to sell back their diamond on the market are  startled to find out it is only worth 25-30% of the original retail value (even  after only a year later)…

Many  practical (but perhaps single!) men  are now saying: ‘I love you.  I want  to marry you.  I want to give you an  early retirement or give great education to our children…than spend $10,000  now on a diamond.”

A  diamond is a symbol (albeit a very expensive one) and many couples are becoming  more practical.  With fluctuating  economic markets and increased divorce rates, many couples are asking: Is $10,000 today a good investment for  us?  Or… Is saving that $10K mean  $70,000-100,000 in just over a decade, if invested  properly…

Consider  the secondary marketing messages before spending on a huge purchase.  For most, a diamond is the second or  third biggest purchase behind a car or house.

This  blog was found in the rough, just like most diamonds.   Happy New  Year!

*Antiperspirants contain fragrance, but  they also contain chemical compounds that block the pores to stop the discharge  of perspiration. No sweat, no odor. Deodorant  allows the release of perspiration, but prevents odor by combating it with  antiseptic agents, which kill odor-causing bacteria.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Create a free website or blog at WordPress.com.

%d bloggers like this: