It’s always good to know the history of each and everything, since it gives you a clear picture of what that thing really is and how important it is to us.
Ever wondered why diamond jewelry is so expensive; it’s a known fact that diamonds are abundant in nature. There was a point in time when diamonds were found only in India and Brazil, however when the demand grew and the supply from these countries reduced, search began for theses precious stones, and the result being, it was found in abundance in South Africa.
This troubled the investors because generally you price high something that’s rare, and not something that’s abundant, so there a came a threat to the investors because diamond was found in plenty which would instantly reduce the price of it.
The major investors joined hands and formed the company De Beers, who controlled the major supply of these stones; they portrayed diamonds to be scarce and hence tagged them with high price.
Marketing tactics were also undertaken in order to raise the sales of these stones. The famous tagline “A Diamond is Forever” caught each one’s attention, thereby making it an absolute necessity for any woman who wishes to flaunt her style and beauty forever. This in turn led to the origin of right hand rings.
What people didn’t know was the exact meaning of the tagline and that’s, once you buy a diamond jewelry, you’re literally stuck with it, since its resale value is zilch.
In short, what one must believe is that, if you have great marketing skills and the right people working with you, you could even sell peanuts for the price of gold.
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