The paper "The Concepts and Principles of Marketing in a Business Environment" is a wonderful example of an assignment on marketing. Marketing is an integral process in the operations of the firm since it offers an inter-phase between the firm and consumers/ market and firm and competitors and firm & the macro-environment. This whole process rests on marketing and market research which offers information based on raw data about trends and expectations (Aaker, Kumar and Day, 2001, p. 2, 3 & 4). It is on this basis that a firm/ marketing consultant can be able to build a marketing plan that enables the firm tap on the opportunities/ key success factors and counter threats/ completion while aligning the same into the context of the larger environment (Onkvisit & Shaw, 2008, p. 7).
The diamond industry has grown highly competitive since the mid-1990s as a result of the liberation of the market & reduction of control of supply power of DeBeers and emergence of synthetic diamond that is cheap and sustainable as compared to the mined ones (Cadieux, 2005). Such trends have seen DeBeers significantly lose its market share from 80% to 45% (Economic Intelligence Unit, 2007).
It is in regard to the above scenario that this report seeks to prepare a marketing plan For DeBeers so as to significantly regain its lost market share and reduced leadership. 2.0 The Company DeBeers is an agglomeration of companies with a global presence that emerged in 1988 in South Africa. The company operations in the diamond industry are based on exploration, mining, and marketing (Cadieux, 2005). According to (DeBeers, 2012), their mission and goal are to “ turn diamond dreams into lasting reality” .
For them to address such aspiration, they anchor the mission and goal on two objectives which are the pillar of the company. These are to employ their economic might in adding value to a diamond and build linkages within the macro-environment. Additionally, they have overriding principles such as being passionate about their firm and their products, to converge their strength, guarantee trust in all of their operations, mind the communities they operate in and to positively impact the future through research and risk-taking. 3.0 Situation Analysis This section outlines the current situation in the diamond industry.
To actualize this expectation, the report first assesses the trends in the market in a summarised overview by examining the demand, players, market share and other relevant trends. Secondly, the paper examines the internal and external environment through Strength, Weakness, Opportunity and Threat Analysis (SWOT). In this regard, the internal environment is embodied in strengths and weaknesses (SW) since these are within their means and control and internal environment embodied on Opportunity and Threats (OT) since these are factors beyond the control of the firm.
Thirdly, the paper analyses the competition within the industry using Porter’ s five forces model/ framework.