DTC Cuts U.S. Marketing

In a blow to the U.S. market, De Beers' Diamond Trading Company has cut its U.S. marketing budget, and 11 people at the DTC account at JWT in New York are leaving the account. Sally Morrison, of JWT's Diamond Information Center, says the cutbacks have “to do with the perception that the U.S. market is moving to a recession and perhaps a bad one. There is an anticipation that 2008 is going to be very tough for everybody. [De Beers] has asked us to more carefully target and focus our marketing effort.” As a result, the DTC will focus more on public relations, fourth-quarter advertising, and targeting the male consumer. As for the “beacon” products, like Journey and three-stone rings, “they are going to be supported in a different way,” Morrison says. “The marketing will be more targeted. We won't be telling the 'beacon' story in female-targeted advertising.” Most of
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