Analysis Of Argyle Diamonds

Introduction

Argyle Diamonds is an Australian company which is a dominant supplier of diamonds all over the world. The contribution of the firm is one third quantity of the diamonds produced globally. Moreover, the firm also excavates 90% of the world’s rare pink diamonds. Argyle half shafting consists of colored diamonds in which brown shade is quiet dominant. Argyle needs to recognize the areas that need investment for the promotion and sale of colored diamonds. The effort is required more for brown diamonds which are generally considered inexpensive. When these efforts are put into action, it is very likely that they will impact the consumer behavior and perception towards colored diamonds (White, 2004) .

Sales and Marketing Plan

Since

The firm has adopted differentiation to embed the perception about colored diamonds into the minds of the people. The foundation of the firm provides it with the capacity to dig up huge amounts of diamonds. Using the promotional mix, Argyle had made excellent use of sales promotion and public relations. One such promotion tactic used by Argyle was The Argyle Library Egg. It was a seminar/workshop conducted by the firm in order to gather people, persuade them and remove doubts from their minds about the value of colored diamonds (Cespedes,

However, the demand of possession is for the white diamond. A lot of people are unaware about colored diamonds such as pink, brown. Argyle needs to focus on the strategies to increase its sales by generating the demand for these diamonds among the people. One tactic that Argyle can use to promote and generate sales of colored diamonds especially the brown ones are by starting campaign for these diamonds. The firm should provide the well-known celebrities with these diamonds to flaunt on the red carpet events. When people especially women observe these celebrities wearing something unique and different, it immediately becomes a fashion statement. The women love buying, wearing and most importantly flaunting their jewelry to others. When they see their favorite actors wearing colored diamonds, it will attract them which will eventually increase the sales for the colored diamonds (Lancaster,