How Diamonds Became Forever–Consumer Behavior Analysis.

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In a marriage relationship, diamond ring has already become one of the most valuable assets. Eternity is the typical feature for a diamond which makes it enjoy a high popularity at any time. Diamond is a symbol of wealth, luxury and romance in people’s minds (Lindasay Kolowich, 2014). And all of these behaviorism are coming from a multidimensional level marketing strategy and advertising design effect. Whenever people talked about marriage, their hearts will be conditioned to recall the classic phrase advertising lines “A diamond is forever“.

 

To attract the attention of consumers

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Due to the recession of the environment in late 1930’s, at the time most Americans thought buying diamonds was an act of wasting money. Only the super rich people can afford them. In order to attract more buyers, in 1947 De Beers firm employed a professional advertising planner, Frances Gerety. The advertising genius who fully took into account the woman’s emotions and feelings, the sensation and perception and commodities perfect blend together and came up with a slogan “A diamond is forever” (Courtney Sullivan, 2013).And this famous slogan has been written in all of the company’s ad for the next 25 years.

Ohhh!!! The most clever design is that In order to highlight the brightness of diamond, the whole design of the ad used a black and white background. By watching this short film, audience felt romance and love.  Simple and meaningful advertising word quickly spread among the people up. When women talked about love and marriage. A diamond ring can be seen as a promise, which symbolizes their love will last forever (Hannah Lee, Hyun Ko, Samip Mehta, n. d).

The Purchase Process

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For market, understanding the psychology of a customer is very important, also taking into account cultural factors in the process of consumption (David Court and Dave Elzinga, 2009).In any cases, the consumers buying process is an essential part of marketing and all markets should concern themselves with (Bryony Thomas, 2014).

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There must be a reason for a person to buy a product, which is the first step in the purchase behavior. As a diamond retailer, should encourage or stimulate the enthusiasm of the seller to buy. And to promote or develop potential customers. Once the identification information, the customer will begin to seek information about the product. Therefore, the jeweler needs to provide information to the customer needs, so that customers are aware of consideration to purchase. When it comes to information collection, the Internet is a paradise for consumers, as far as possible to create a fine network of shops. Of course, the store’s window display is also very important (Jonny Katz, 2015). In program evaluation, the consumer will choose the right product or have a favorable impression, to further compare the prices, quality and style. In the purchase stage, the degree of understanding of the product directly determines the perceived value and the impact of whether customers will continue to buy. After the purchase of the product, the value of the diamond will enable customers to intuitively feel satisfied or disappointed. The diamond retailers should take appropriate measures to reduce customer dissatisfaction.

How to make decision in the purchase process by consumers?

 *Motivation

-A customer realizes they need/want a diamond ring.

*Attitudes and making decision

-Customer impression of the diamond is represents the love, forever and loyal.

*Cultural differences

-Directly influence consumers and shopping patterns.

*Customer Evaluations

-The consumers evaluate their choices, due to the high hardness of diamonds, intense color of fire, some consumers have chosen to invest in buying diamonds.

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Consumer Involvement

Product choices & Purchase depending on 3 factors:

  1. personal factorIt includes self-image and personality, the diamond industry to focus on attracting consumers purchase luxury. Hannah Lee, Hyun Ko and Samip Mehta stated that for the pursuit of a unique and perfect customer, diamonds are rare works of art.
  2. product factor: If in the purchase process, there are some risks. This risk comes from the quality and added value in the future price of the product. In this regard, De Beers successfully created an optical illusion, diamonds are rare. Many consumers will buy a diamond to invest. Because the diamond industry a monopoly industry. Therefore, the value of the diamond is very stable.
  3. Situational factors: Mainly related to the customer environment, their own use or for gifts? For example: friends around to buy diamonds at the time of marriage, which will lead to their own experience the same in the case was the same way. Thus, motivation, decision-making and customer buying behavior is very easily influenced by external environmental factors (Hannah Lee, Hyun Ko and Samip Mehta, n. d).

Reference List:

Bryony Thomas, 2014, ‘The consumer buying decision process’, Smart Insights, 21 January 2014, retrieved 29 July 2016, <http://www.smartinsights.com/marketplace-analysis/customer-analysis/consumer-decision-buying-process/&gt;.

Courtney Sullivan, 2013, ‘How Diamonds Became Forever’, Weddings Celebrations, 3nd May 2013, retrieved 29 July 2016, <http://www.nytimes.com/2013/05/05/fashion/weddings/how-americans-learned-to-love-diamonds.html?_r=0&gt;.

De Beers, 2014, THE DIAMOND INSIGHT REPORT, pp. 13-46, retrieved 28 July2016,<http://insightreport.debeersgroup.com/_downloads/pdfs/de-beers-insight-report-2014.pdf&gt;.

David Court, Dave Elzinga, Susan Mulder, Ole Jorgen Vetvik, 2009, ‘The consumer decision journey, McKinsey & Company, Journal Of Consumer Research, 1, pp. 2-11.

Jonny Katz, 2015, ‘How Diamond Retailers Can Influence the Buying Process’, RAPNET, 24 November 2015,  retrieved 30 July 2016, <http://info.rapnet.com/blog/how-diamond-retailers-can-influence-the-buying-process&gt;.

Hannah Lee, Hyun Ko, Samip Mehta, n. d, ‘De Beers Consultant’, Marketing Plan,  retrieved 24 July 2016, pp. 5-9.

 

Student name : Yu Du (Miranda Du)

Student ID:213430159

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