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Diamond 'Bling' With No Sting!
"Bling without Sting is Totally Worthless. (this posting is not in any way a "digg" at the people behind the sign above..I just thought the picture was appropriate..;-)
A colleague of ours just informed me of a new "connection" he made for diamond jewelry manufactured in India.
This manufacturer creates all kinds of jewelry; from mens diamond cufflinks, to womens diamond pendants and brooches.
"These guys are so incredibly cheap" he tells me; "ya gotta give them a try".
"You're gonna be able to charge the same prices for this stuff and make a killing, instead of your razor thin profit margins on all the stuff you sell"
No brain-er right?
Wrong!!
I told him, I was used to offering quality diamond jewelry to our customers, where the set diamonds as small as they might be, actually have life and brilliancy to them.
It was my experience (I told him), that many of these manufacturers in India and other places who create "diamond jewelry" at really cheap prices, are using "diamonds" that are of such poor cut quality, they literally look dull and lifeless.
I call this kind of jewelry, "all bling with no sting".
I mean, just walking in the N.Y.C. Diamond District and looking around, I can always distinguish the inferior quality "jewelry" items originating from these places where jewelry is created on "the cheap", vs. the higher quality diamonds and jewelry fashioned for beauty and brilliancy as opposed to refuge and "scrap".
My opinion is, ya gotta have a modicum of pride in what you do and sell.
Ultimately, if everything was always about the "Almighty Dollar", people would wind up selling their own mothers to make a buck!
The bottom line is, you need to have some pride in the quality and consistency of the merchandise you sell.
What you lose in profits based upon your own cost of manufacture vs. the selling price, you can more than make up for with building and cultivating a reputation for the highest standards for honesty and quality.
Just my two cents.
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Comments
I would add that quality does not have to be defended. When you use the best, the customer can argue price, but never the quality.
A quality product will please any customer. If the quality is there, the price will eventually be forgotten. If the quality stinks, the customer will remember forever what they paid for it. NO matter how cheap.
Larry Horowitz
www.gersonandhorowitz.com
Posted by: Larry Horowitz on October 31, 2007 12:56 AM