SWOT Analysis, BCG Matrix Analysis and STP Model of De Beers
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De Beers is a well established brand and has customer loyalty. Its customers have a high emotional attachment to the brand. The company owns 40% of the rough diamonds and in the USA alone, the company owns 50% of the market share in the diamond industry, thus making it an influential brand in the market. De beers have unique designs and the quality is unmatched . The biggest challenge De Beer faces is its mining conditions and employee security, which holds a huge question mark on its origins and ethical standing. Moreover, the cost of production is way too high, making it difficult to leave any room for error (Sarsby, 2016). De beers has a market to tap in, in areas like Europe and the Middle East. Ideas of expansion can be explored which can enable De beers to expand its portfolio (Teoli et al., 2019) https://royalbritishessaywriters.co.uk/. With an increase in affordable designs produced by new competition in the market, it can pose a challenge for De beers to compete with them, in terms of pricing. De Beers connection with ‘blood diamonds’ is an ever-looming threat to its brand name and sales, with an increase in awareness and consumer activism. The promotion of cultural diamonds is also an added threat to De Beers popularity and widespread popularity (Phadermrod et al., 2019).
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