IMC - Cultured Diamond

A Campaign for Awareness

Patricia ArenasAnu BattogtokhFai Charoonsri

Shirley HoDuygu Hostan

Katharina Ruland

IMC Project – Spring 2010

Laboratory-grown Originally manufactured for industrial

purposes Gem-quality technology developed by

Soviet scientists Characteristics:

Optically, physically, and chemically identical to natural diamonds

The 4 C’s: Clarity, Color, Cut, and Carat weight

De Beers – 50% of the market share

Diamond mines: South Africa, Canada

Price reflects diamond’s rarity – FALSE

Price is arbitrary

Demand of diamonds

Controlled by De Beers

Cultured diamonds manufacturers:

Gemesis Cultured Diamonds

Apollo Diamond

Chatham Created Gems

Lucent Diamonds

New Age Diamond

Issue: Lack of Awareness

“The typical consumer has a tough time grasping the concept of a man-made diamond”

“The stones are for the more sophisticated clients who are not enamored with the fact that stones must come out of the ground”

1-Cultured Diamond

Authorized Retailers

Wholesale Distributors

Michael Drechsler Jewelry Ltd.

On-line Distributors

Jewelnet.com

Supply Chain: Creation Detection Terminology Disclosure Information for Retailers Information for Customers

www.cultureddiamondfoundation.org Created in 2006 Established to ensure the highest

standards prevail within the cultured diamond industry

International foundation Members – representatives of all the

different elements of the supply chain

Marketing Campaign

Goal:

Increase awareness by 30% within 1.5 years

Benchmark:

Current level of awareness was assessed through an incentive-based survey in December 2009

Results:

55% - cultured diamond awareness

March ‘10baselineidentified

Final assessmentAugust ‘11

October ‘10PR campaign launched

June ‘11Gala

Target Markets researchApril ‘10

June ‘10advertisingcampaign launched

awareness assessment #1

August ‘10

awareness assessment #1April ‘11

awareness assessment #2November ‘10

awareness assessment #3

February ‘11

March ‘10“buzz” campaign launched

December ‘10PR for Galalaunched

Gala Feb 2010

May 2010

August 2010

Nov 2010

Feb 2011

May 2011

Aug 2011

Benchmarking

PR (Marketing)

Advertising (Marketing)

“Buzz”(Marketing)

Target Market Research

Awareness Assessment

**

Women

Needs: quality diamonds

Psychographics: Price conscious

Ethically conscious

Environmentally conscious

Distributors

Influence the end-users to buy cultured diamonds

Create awareness of cultured diamonds among the target markets

Characteristics of cultured diamonds

Affordability

Eco-friendliness

Quality – identical to natural diamonds

Generate awareness through Cultured Diamond Foundation

“Cultured diamonds exist!”

“These are better, more humane, alternatives to natural diamonds

“Cultured diamonds are less expensive, but are of equal quality”

Words/phrases

Knowledge

Awareness

Understanding

“Have you heard...?”

“Have you seen…?”

“Let me tell you about…”

“Did you know…?”

Quality

“Luxurious”

“Guilt-free”

“Diamonds with a conscience”

“Affordable”

“Special”

Environmental and Social Benefits

“Eco-friendly”

“Harmless”

“Anti-exploitation”

“Socially conscious”

Media

TV Ads

Online Ads

Print Ads

o Vanity Fair

o Modern Brides

o Gems & Gemology

Press Releases Information about cultured

diamonds and their manfacturing process

Activities of the Cultured Diamond Foundation New breakthroughs in diamond

technology Contributions to non-profits and

charities

Empirical study

Featured in newspaper articles

Enclose summary to educate consumers/ distributors about the differences between cultured diamonds and natural diamonds

Articles

Articles featuring well-known figures advocating the use of cultured diamonds.

Articles featured in magazines advocating the eco-friendliness of cultured diamonds.

Featured articles in bridal

magazines on how to be an

eco-friendly bride

Goals

Develop cultured diamond as the thought leader of eco-friendly and socially-conscious jewelry

Connect with target markets based on lifestyles

Ethically conscious consumers

Supporters of humanitarian causes

Cause

Improve quality of life in Africa

Fundraising Gala benefiting US Doctors for Africa

Hosted by Cultured Diamond Foundation

Funded by CDF members

Manufacturers

Distributors

Retailers

Specially selectedguests

Activities “Frost Yourself” (i.e. How to Lose a Guy in 10 Days)

Silent auction/raffle Presentation by CDF President on

cultured diamonds Honor outstanding doctors from USDFA

Statement of acknowledgement from Director of USDFA

Goal

Build relationship with our target markets

Connect with target markets based on psychographic

Connect cultured diamonds with target markets’ favorite products

Events

Glamorous

Related to environment

Events

Awards Shows

o “Top Celebrities Get Eco-Chic with Cultured Diamonds at Hollywood Breakthrough Awards”

Movies (product placement)

Monthly Fashion Magazine Events

o Special Events of Elle, Elele, Vogue..etc.

Environmental Magazine

Trade shows

Goal Educate the consumers about cultured

diamonds and their benefits Preference over natural diamonds Stimulate purchase

In-store consultation Personal Selling Leads

Press Releases Gemologist Evaluation Certification

Pushing – for middlemen Tradeshows

Training materials (merchandising aids)

Allowances/rebate

Pulling - consumers Sweepstakes/Contest

Catalogs

Database

Retrieved through:

Targets customers who advocate humanitarian efforts, ie. US Doctors for Africa

Targeted at the primary target markets: young women as well as distributors

Design attracts attention of target group leading to consideration and positive responses

Mailing fromcause organizat-ion of interest Anne

Gemisis1999 Diamond CoveDiamond City

This diamond has a secret to tell…

Cultured Diamond Foundation is now on Facebook and Twitter

Cultured Diamond Foundation is now on Facebook and Twitter

http://www.cultureddiamondfoundation.com/

Information on:

Cultured diamonds and their production

Foundation andmission

News and further links

Publicized by:

Letters/informational brochures

Blogs, search engines and other websites

Linking it to authorized Jewlers’ websites

Advertisements

Sales promotions

Included within:

PR articles

Advertisements

Sponsored organizations’ websites

Personal selling presentations/merchandising aids

Direct marketing

Gala PR and Advertising: Publicize the event

Sponsorship: Mention Gala at sponsorship events/on sponsorship products

Direct marketing: Sending informational materials/catelogs to attendees

Sales Promotion: Encourage distrubutors carry cultured diamonds

Personal selling: Presenting cultured diamond

E-communications: Highlighting website