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IDI's Avidar to CIBJO Congress: Market aggressively

May 05, 2009

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Istanbul, Turkey--In an opening speech presented during the CIBJO 2009 Congress in Istanbul, Turkey, on May 3, Israel Diamond Institute Group of Companies (IDI) Managing Director Eli Avidar asked the global jewelry and diamond industries to "think out of the box" about marketing their products during the current economic crisis.

In his speech, titled "The Imperative of Marketing in a Crisis Economy," Avidar said the key to success in this economic climate is "to adopt assertive and sometimes unconventional strategies in marketing, management and development," to "do the unexpected."

"There can be no better time than the present--to introduce aggressive and strategic advertising and marketing programs in all forms of media, especially as other enterprises are pulling out--making our negotiating powers in this area even stronger," Avidar said.

To that end, Avidar cited the IDI's "Together Works" campaign, devised in direct response to the economic downturn and the corresponding repercussions upon the industry, and named as such because "its success is dependent upon international cooperation and joint efforts in all centers."

The campaign is being rolled out in stages throughout 2009 and is making use of every type of media available.

Avidar also said that now is the time to target new consumer markets in developing countries. He cautioned, however, that the industry must understand the culture of these countries and adapt marketing techniques and messages accordingly. He said that in the case of China, it's necessary to understand the cultural preference for jade over diamonds, and to gear marketing messages to that specifically.

Avidar commended the joint educational program established by CIBJO and the United Nations, which aims to improve worldwide jewelry industry standards. He said that the current financial crisis was bringing about intensified cooperation among diamond and jewelry entities, including the generic diamond promotion campaign, which he cited as a very important step.

About the message, Avidar said it was essential to "capitalize on the fact that the diamond or a piece of unique jewelry will always have more intrinsic value than a designer pocket book, designer shoes or a designer dress. A jewel is something unique that can be handed down from one generation to the next...at the same time maintaining and...increasing its value."

Avidar also called upon the global industries to utilize original marketing methods such as social networks--Facebook, Twitter and others. He recommended to the audience to "take the time to blog or even just read blogs to get a better understanding of our industry from entirely new perspectives, from which you can...create new programs and outreach to clients that you had never anticipated."
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TOPICS
Business | Economic Crisis | Economic Issues | Marketing | National Economy

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