From Tulips to Diamonds – Marketing

(ehudlaniado.com) - Is there a way to increase the revenue stream from diamonds? Is there a way to diversify revenue streams while supporting the sustainability and longevity of the diamond industry? The answer to these questions is a clear yes. In the current article series, I have detailed what I think is needed to achieving such a goal: creating a market for the diamond as a widely-accepted asset for wealth preservation. I have shown that diamonds are rare, and that with the right tools they have fungibility  – two underlying requirements for creating a commodity market. For a market to operate, everything about the trade and the commodity must be transparent. Another requirement is that the market be widely accepted, which is why it must reach a critical mass of supporters. To reach a critical mass, we need to educate people on diamonds. Finally, we need an actual market – specifically, a spot market. There is one additional component that I would like to add – marketing. Marketing requires two different approaches, working in parallel: ongoing promotional activity for diamonds in general, and promotion of the idea of diamonds for wealth preservation purposes in particular.