DE BEERS GROUP – MARKETING DIAMONDS TO MILLENIALS - DECISION SHEET

Date: 2017
Title of the case: De Beers Group – Marketing Diamonds to Millenials
Key decision maker: De Beers Group

Dilemma / Conflict faced by decision maker: Would these marketing efforts be successful in
altering millennials' thinking, or would the campaign be a failure? Would diamond
engagement rings still be the most significant symbol of love? In a world that is evolving,
what could De Beers do to promote the sale of diamonds?

Problem Statement: How would DeBeers keep implementing its strategies to win over the
millennial market?

Cause of the problem:

 Establishment of new competitors
 Engagement of blood diamonds or war diamonds
 Alternatives for diamonds like Moissanite
 Trend of Synthetic Diamonds

Criteria for an effective solution of problem identified:

 Customer preference
 Understanding consumer behaviour of millennials
 New Branding Strategies
 Ensuring Quality of Diamonds

Alternatives:
 Introducing New Marketing Strategies
 Making diamonds which is affordable by target customers
 Retaining Brand name
 Creating a brand identity among the millennials
  Creating ads and campaigns to promote diamonds among Millenials

Analysis of Alternatives

1) Introducing new marketing strategies like creating awareness about the brand to the
millennials since millennials are having less interest to the diamonds. These marketing
strategies should ensure the current trends of the millennials and how they make their brand
to reach the millennial customers and what medium like social media advertising, email
advertising they use and what kinda offers, product warranty and guarantee are given to
make these millennial customers satisfied.
2) Since Millennials are socially responsible and value-conscious they feel that spending
diamonds are waste of money. So to overcome this, De beers should make diamonds
affordable to their target customers and they also make some kind of price concessions
which attracts millennials to buy.
3) Since De Beers is the leading diamond producers in the world, they wants to retain their
brand name to compete with their competitors. So they need to bring their Unique Selling
Proposition Strategies to establish their brand name with a roaring sound in the
international market.
4) The ads and campaigns are created by considering the consumer behaviours and trends of
millennials like lifestyle, interest, job, income, hobbies and also habits which will
automatically register in the minds of consumers.

Decision/Summary
De Beers focused on creating demand by addressing problems and setting new strategic goals. Thus,
by putting all of the above mentioned alternatives to use, they can win over millennials, remain
competitive, and take control of the diamond sector.