Creative Strategy Proposal Borsheims
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Transcript of Creative Strategy Proposal Borsheims
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Executive Summary
“How does a single store in Omaha, Nebraska, become one of the largest jewelry stores in
the nation? By never forgetting our history” (Borsheims, Our History, 2013). Louis Borsheim
started a jewelry store in downtown Omaha, more than a century ago. On November 15, 2013,
Borsheims opened an additional retail location, The Borsheims Boutique, at a new development
in Gretna, Nebraska Crossing Outlet (WOWT, 2013). After becoming a part of the Berkshire
Hathaway family in 1989, Borsheims hosts shareholders annually for the Berkshire Hathaway
meeting. Borsheims lives by their mission, “We are privileged to share in the special moments in
our customers' lives. We will treat this opportunity with the respect and importance it deserves”
(Facebook, 2010).
Borsheims’ current marketing communications include a wide range of print, social
media, and event marketing. . They use Facebook and Instagram to post event information and
pictures from customers of proposals or gifts. Borsheims uses their LinkedIn to find new
employees and for customer service. With 65 different Pinterest boards, Borsheims takes full
advantage of all Pinterest has to offer. Most of Borsheims ads come out in the weeks prior to the
Berkshire Hathaway Meeting Weekend, to advertise for the weekend.
This creative strategy plan will plan out several new ways to market Borsheims that
doesn’t revolve around their biggest event of the year, Berkshire Hathaway Weekend. The writer
of this campaign created multiple print advertisements, along with a radio ad and a television ad.
Along with these creative advertisements, this campaign also lays out “big thinking” ideas using
newer technologies. The goal of this campaign is to gain a new target market, since the majority
of Borsheims customers are getting older. Exploring future technologies that could expand the
Borsheims locations will only help them to gain new clientele.
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TableofContents
History………………………………………………………………………........ 4 Mission & Values……………………………………………………………….. 4 Marketing Communications………………………………………………….... 5 Special Events………………………………………………………………….... 5 Competitors……………………………………………………………………... 6 Current & Future Issues……………………………………………………….. 7 Situation Analysis………………………………………………………………. 7
Market Situation………………………………………………………………………….. 7 Demographics………………………………………………………………………….. 7 Psychographics…………………………………………………………......................... 7
Product Situation………………………………………………………………………….. 8 Competitive Situation……………………………………………………………………... 10 Distribution Situation……………………………………………………………………... 11 Macro-environment Situation………………………………………………..................... 12
SWOT Analysis…………………………………………………………………. 13 Target Market…………………………………………………………………... 13
Day in the Life………………………………………………………………...................... 13 Creative Strategy Statement…………………………………………………… 15 Creative Brief…………………………………………………………………… 16 Magazine Ad…………………………………………………………………….. 17 Bus Bench……………………………………………………………………….. 18 Radio Script……………………………………………………………………... 19 Web Script………………………………………………………………………. 20 Television Script………………………………………………………………… 21 Borsheims Interactive Mirror………………………………………………….. 25 Borsheims Mobile App…………………………………………………………. 29 Borsheims Hologram Shopping………………………………………………... 34 References……………………………………………………………………….. 38 Photo Credits……………………………………………………………………. 41
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History
“How does a single store in Omaha, Nebraska, become one of the largest jewelry stores in
the nation? By never forgetting our history” (Borsheims, Our History, 2013). Louis Borsheim
started a jewelry store in downtown Omaha, more than a century ago. In 1948, Louis Friedman
bought the business and managed the store with his son, Ike. They kept the original Borsheims
name, but developed a new business philosophy; “offer an extensive inventory and exceptional
customer service at the lowest possible price” (Borsheims, Our History, 2013). Borsheims
moved to Regency Court three years before Warren Buffet purchased a majority of their stock,
making it part of Berkshire Hathaway, Inc. in 1989 (Borsheims, Our History, 2013). On
November 15, 2013, Borsheims opened an additional retail location, The Borsheims Boutique, at
a new development in Gretna, Nebraska Crossing Outlet (WOWT, 2013). After becoming a part
of the Berkshire Hathaway family in 1989, Borsheims hosts shareholders annually for the
Berkshire Hathaway meeting.
Mission & Values
Borsheims mission is, “We are privileged to share in the special moments in our customers'
lives. We will treat this opportunity with the respect and importance it deserves” (Facebook,
2010). Even though this is Borsheims mission, they have several commitments to the community
that they live by every day. When Warren Buffet bought Borsheims, he said, “if you don’t know
jewelry, know your jeweler” (Borsheims, Commitment, 2013). They also are committed to
customers and their community. This statement by Borsheims can sum up their commitment,
“For more than a century, Borsheims has been known for our exceptional customer service. It is
founded by the belief that we are privileged to share in the special moments in our customers'
lives. We will treat this opportunity with respect and importance it deserves” (Borsheims,
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Commitment, 2013).
Marketing Communications
Borsheims’ current marketing communications include a wide range of print, social media,
and event marketing. Customers that have given an email to Borsheims during checkout,
receives an email a day. These emails include information about new products, products for
certain seasons or holidays, or events. They use Facebook and Instagram to post event
information and pictures from customers of proposals or gifts. Borsheims uses their LinkedIn to
find new employees and for customer service. With 65 different Pinterest boards, Borsheims
takes full advantage of all Pinterest has to offer. Other ways that Borsheims communicates with
customers is through print advertisements in Metro Magazine, Omaha Magazine, Delta Sky, and
Omaha Wedding Essentials.
Borsheims’ largest sales come from the Berkshire Hathaway annual meeting instead of
holidays, like most companies. Before the annual meeting, Borsheims updates their catalog and
sends by request. They also send out information to shareholders through direct mail with the
Berkshire Hathaway packet. As shareholders arrive for the weekend, a Borsheims welcome
greets them on the baggage carousel at Eppley Airfield.
Special Events
The largest event that Borsheims holds is the cocktail party that starts off Berkshire
Hathaway weekend (Berkshire Hathaway, 2014). Throughout the weekend shareholders can get
special pricing on certain items at Borsheims. Also during the weekend, Warren Buffet makes an
appearance as a sales person by appointment only at Borsheims. In 2013, Buffet sold $2 million
worth of jewelry in 90 minutes (Podsada, 2013).
Besides the biggest sales weekend for Borsheims, they do several events throughout the year.
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They do several trunk shows, special promotions, and meet the designer events (Borsheims,
Events, 2014). Borsheims teams up with the Omaha Stormchasers, a minor league baseball team,
and do the Borsheims Diamond Dig. Stormchasers employees bury 10 Borsheims boxes in the
infield with two prizes in each box and the winning team receives a 1-carat Borsheims Signature
Diamond (Podsada, 2014).
Since Borsheims is committed to the community, they do several charitable events
throughout the year. These events include hosting fundraisers or buying a table at fundraisers and
donating items to charity events. Also, once a year, usually during Christmas time, they pick a
charity; usually children based, and collect items for the charity or help the charity out by raising
money. Charities Borsheims has chosen in the past are Toys-for-Tots and Make-a-Wish (Fischer,
Personal Communication, 2014).
Competitors
Borsheims’ competitors are not only local, but also national because of Berkshire Hathaway.
The major competitors include:
• Tiffany & Co.
• Jared
• Helzberg Diamonds
• Zales Jewelers
• Kay Jeweler
• Blue Nile
• Nebraska Diamond
• Alletti Jewelry
• Malashocks
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Current & Future Issues
The issues that Borsheims is facing currently are also their future issues. Borsheims
customers tend to be relinquishing their assets instead of acquiring, which means that they are
losing customers. Borsheims tried to solve this problem by opening the Borsheims Boutique, but
people still have a view that Borsheims is too expensive. The issue that Borsheims needs to solve
is how to show the younger generations that they are the most affordable Jewelry and Gift
retailer. Acquiring the younger generation will ensure Borsheims’ future.
Situation Analysis
Market Situtation
The market situation is unique at Borsheims Fine Jewelry and Gifts because they are
owned by Berkshire Hathaway and located in Omaha, Nebraska.
Demographics
Borsheims demographics are diverse in every way. The majority of customers are
female, but the purchaser tends to be predominantly male. The average age of a
Borsheims customer is around 40, but they have customers that range from early 20s up.
Berkshire Hathaway shareholders tend to give the most business to Borsheims and
shareholders are mainly from the baby boomer generation (Fischer, Personal
Communication, 2014). Since Borsheims deals with different life events, a customer’s
marital status is not a major demographic.
Psychographics
The average income of a Borsheims customer is $75,000+ and they tend to be college
educated. Borsheims prides itself on having a diverse customer base. The majority of
customers that apply for credit have an average income of $40,000 (Fischer, Personal
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Communication, 2014). Throughout Berkshire Hathaway weekend customers could range
from CEO’s to farmers. Customers can never be judged based on clothing because the
people that tend to buy the most during the annual Berkshire Hathaway weekend are
farmers and international who rarely get to Omaha (Fischer, Personal Communication,
2014). During Berkshire Hathaway weekend, Borsheims offers a discount to shareholders
from the Monday before the weekend to the Saturday after the weekend; however,
employee’s might not know the exact discount until the Borsheims shopping event on the
Sunday of the shareholder weekend (Berkshire Hathaway, Visitor’s Guide, 2014).
Borsheims customers tend to be of an old-fashioned mind set when it comes to giving
gifts to people for life events. Some life events that people would shop at Borsheims for
include, engagements, weddings, births, Bar/Bat Mitzvahs, Confirmations, graduations,
thank you or hostess gifts.
Product Situation
Borsheims offers a variety of products from engagement rings to decorative plates.
Borsheims pricing is given a stigma that they are expensive because the quality and customer
service is comparable to Tiffany’s. If people would take the time to compare pricing for
engagement rings between several of Borsheims competitors, they would see that pricing is
more reasonable than other places. The chart below shows the difference in pricing of the
same ring, if available, for three competitors of Borsheims. The prices were taken from each
company’s website.
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Company Metal Mounting Diamond Cut
Diamond Size
Mounting Cost
Diamond Cost
Total Cost
Borsheims Platinum Solitaire Princess 1K $1,450 $5,680 $7,130
Tiffany Platinum Solitaire Princess 1K - - $10,700+
Blue Nile Platinum Solitaire Princess 1K $1,930 $6,662 $8,592
Kay White Gold
Solitaire Princess ¾K - - $1,499
The table shows that Borsheims offers competitive pricing, but with the options for layaway
and to apply for credit, they are a reasonably priced company with excellent customer
service.
Borsheims is a privately held company through Berkshire Hathaway; so annual sales are
not reported to the public. Berkshire Hathaway common stock price range from 2013 is listed
in the table below (Berkshire Hathaway, Annual Report, 2013, p. 110).
2013
Class A Class B
High Low High Low
First Quarter $156,634 $136,850 $104.48 $91.28
Second Quarter
173,810 154,145 115.98 102.69
Third Quarter
178,900 166,168 119.30 110.72
Fourth Quarter
177,950 166,510 118.66 110.84
A way that Borsheims stays competitive is by offering layaway and credit options. “Our
revolving account allows you to make minimum monthly payments against your balance
over 36 months at an interest rate of 18% APR. See legal agreement for details on how your
monthly payment will be calculated. A minimum down payment of 10% will be required on
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your first purchase based on your credit application” (Borsheims, Credit Card, 2013). “Up to
six months without interest. Our layaway account allows you to hold an item for up to six
months without interest on items over $100. This account requires a minimum $20 or 10%
deposit, whichever is greater. A payment of approximately 10% of the balance must be made
each month for the layaway to stay current. The item stays at Borsheims until this account is
paid in full and must be finalized in six months. We do not mail a statement in regards to this
account. All product alterations will be made following the final payment. Layaway is not
available online” (Borsheims, Layaway, 2013).
Competitive Situation
Borsheims’ competitors are not only local, but also national because of Berkshire
Hathaway. The major competitors include:
• Tiffany & Co. (National)
• Helzberg Diamonds (National and Berkshire Hathaway Owned)
• Zales Jewelers (National)
• Kay Jeweler (National)
• Blue Nile (Online)
• Nebraska Diamond (Local)
• Alletti Jewelry (Local)
• Malashocks (Local)
The local companies around Omaha, especially family owned, have had to break into new
markets because of more competition. Blue Nile has become Borsheims biggest competitor
because their website gives the same information on diamonds including size, cut, clarity,
color, price options, and mounting and diamonds are sold separately. If there is an area that
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Borsheims needs to work on to stay competitive against new online diamond retailers, it is
their online engagement ring sales.
Distribution Situation
Borsheims is a retailer of fine jewelry and gifts. The designers sell their products through
Borsheims. Borsheims has a flagship store in Omaha, Nebraska and a boutique in Gretna,
Nebraska, along with their website. Market coverage for Borsheims is both selective and
exclusive. One service that Borsheims offers, that is very exclusive, is a person can go
through an extensive background check, once they have spent a certain amount of money at
Borsheims or own a certain amount of Berkshire Hathaway stock, and be sent different
pieces of jewelry, try them on in the comfort of their home, choose what they want, and then
send the pieces that they don’t want back (Fischer, Personal Communication, 2014). This is
also an option for celebrities who are walking the red carpet and the Aksarben Ball, which is
an event held in Nebraska every year.
With technology improving, Borsheims could purchase new technology to help with
inventory, but that is not the case. Borsheims does have newer technology to help with the
cohesion between inventory and sales, but they still have Diamond Librarians. A diamond
librarian takes inventory of all diamonds that are brought into Borsheims, they ensure that the
cut and clarity is whatever the distributor said it is. They also look for imperfections in the
diamond and price it as such (Fischer, Personal Communication, 2014). Once they have
examined the diamond, they enter it into the database which is then uploaded to Borsheims
website and entered into the computer system so the sales associates can give correct
information. This technique is older, but keeps up with the value of Borsheims to be the best
in customer service.
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Macroenvironment Situation
There are several external factors that can affect Borsheims at any point in time. One
being that they are a company that is privately held under Berkshire Hathaway, the stock
market controls quite a bit of what they are able to do. Also, any time there is a scandal with
a Berkshire Hathaway company or executive, Borsheims could be affected. The economy is
also an external factor especially if people don’t have extra income to buy certain gifts for
life cycle events, Borsheims could be affected.
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SWOT Analysis
Target Market
The ideal target market for Borsheims to focus on is a young couple in their mid-twenties.
They are college educated and have been in a relationship for several years. They are at the point
in their relationship where they are ready to get engaged and need to choose between several
jewelry retailers.
Day in the Life
Jim and Kristine grew up in Omaha, Nebraska; Jim, a member of an affluent family,
Kristine, a member of a middle-class, blue collar family. They met at the University of
Nebraska-Omaha where they went to college and joined the Greek System. Jim always
dreamed of becoming a lawyer, like his mother, and Kristine wanted to be a CEO, unlike her
family. They fell in love her sophomore year of college, and his junior year of college. Jim
graduated from UNO and went on to attend Creighton Law School. Kristine was still
WEAKNESSES'STRENGTHS' OPPORTUNITIES' THREATS'
• !Online Presence – the majority of sales for Borsheims outside of the Omaha area, don’t come from online sales, but from Berkshire Hathaway weekend (Fischer, Personal Communication, 2014). • Marketing to non-Berkshire Hathaway Shareholders – Bozell is hired to create marketing pieces for Berkshire Hathaway Meeting, including a welcome banner at Eppley Airfield, event invitations, banner ads on Forbes targeted to Berkshire Shareholders, and billboards located near event hotels (Bozell, Borsheims Bershire, 2014).
• Customer Service – “offer an extensive inventory and exceptional customer service at the lowest possible price” (Borsheims, Our History, 2013). • Berkshire Hathaway Shareholder Annual Meeting – The largest event that Borsheims holds is the cocktail party that starts off Berkshire Hathaway weekend (Berkshire Hathaway, Visitor’s Guide, 2014). • Layaway and Credit Options – ”evolving account allows you to make minimum monthly payments against your balance” (Borsheims, Credit Card, 2013). “Our layaway account allows you to hold an item for up to six months without interest on items over $100” (Borsheims, Layaway, 2013).!
• New Technology – With technology changing so rapidly, there are many opportunities for Borsheims to expand from just their website, blog, and social media sites. Tiffany & Co. being one of Borsheims largest competitors has two apps, one for just shopping and one called “the ring finder.” This app lets girls take pictures of their hands and put different Tiffany ring styles on the picture to see which would style would look best without going into the store (iTunes, Tiffany & Co., 2014). • National Events – Borsheims hosts the cocktail party for Berkshire Hathaway Meeting and hosts philanthropic events, but these are local events. An opportunity for Borsheims would be to sponsor an event in a major city like New York, Chicago, or Los Angeles.
• Competitors – Having a competitor like Tiffany & Co. or Blue Nile, are both threats because Tiffany is more nationally known and Blue Nile offers the same Engagement Ring options, but can be ordered specifically online. • Economy – The economy is ever changing and a recession could hurt Borsheims. • Stock Market – Being a privately held company by Berkshire Hathaway, a majority of Borsheims relies on the Stock Market doing well.
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finishing out her Bachelors Degree in Business Administration. After five years of dating,
Jim passed the Bar exam and Kristine started working at Union Pacific in their Human
Resources department. They both decided that since they had secure jobs, it was time for
them to think about getting married. Kristine would shop online for a style of engagement
ring that she wanted and would leave the website up on her computer so Jim would see.
Kristine looked at several websites including Tiffany & Co., Borsheims, Helzberg and Blue
Nile. Jim started going into different jewelry retailers in the area to figure out pricing. He
went to local jewelers including Borsheims, Nebraska Diamond, Helzberg, Kay, Zales,
Aletti, and Malashocks. He figured that he would want to apply for credit, but wanted a
company that he could use the credit card for other life events besides an engagement ring.
Jim saw several pictures of engagement rings that Kristine liked. After a few months of
looking and debating pricing, Jim figured out that he wanted to shop at Borsheims because he
had seen advertisements through Creighton during his time there. His parents also owned
several shares of Berkshire Hathaway and he had attended a few of the annual meetings. He
liked the way Borsheims treated customers, even if it was just a young adult that was “just
looking.” Jim applied for a credit card at Borsheims and was accepted, found the ring that
Kristine had fallen in love with, and proposed to her around Christmas the same year. During
the wedding planning, they decided they were going to register for some gifts at Borsheims.
They both liked that Borsheims offered several decorative plates that they could use in their
home, formal and casual serve-ware, and grill items for Jim when he wants to have cookouts
in the summer. Jim and Kristine are now lifelong Borsheims customers and will be choosing
Borsheims over other jewelry and gift retailers for every life event they attend.
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Creative Strategy Statement
The advertising will convince our target audience of Millennials, especially females 18-30,
that Borsheims Fine Jewelry & Gifts provides great customer service while selling products
that are affordable and timeless. The support will be through customer testimonials and
payment options. The tone will be feminine, cheerful, elegant and honest.
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Creative Brief Client: Borsheims Fine Jewelry & Gifts
Why are we advertising?
To obtain new customers from Generation Y Whom are we talking to?
Females, age 18-30 What do they currently think?
Borsheims Fine Jewelry & Gifts is too expensive. What would we like them to think?
Borsheims is competitively priced and can be afforded through Borsheims Revolving Charge Card or layaway options.
What is the single most persuasive idea we can convey?
Borsheims is the fine jeweler you can grow old with. Why should they believe it?
Borsheims builds trust with their clients through customer service. What is the personality we want to convey?
Elegant and honest Are there any Sacred Cows?
Colors: Maroon, Silver, and White Logo: The face of Borsheims: Warren Buffett
Are there any creative guidelines?
Social Media Magazine Ads Commercial for the Internet
BORSHEIMS.COM
-WARREN BUFFETT
“If you don’t know jewelry, know the jeweler.”
You can never go wrong when you’re wearing something timeless.
...or stack them
Wear them individually...
VISIT BORSHEIMS.COM
TIMELESSFORMALEVERYDAY
The perfect piece for every occasion...
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Radio Script Borsheims Review 12/8/2014 Radio: 30 “Know the Jeweler” Music is softly playing in the background. It is a classical guitar piece created by a local musician. The tone of the piece is calm and reflective. SFX: MUSIC UP
MAN: I didn’t know where to start, but I knew I loved her.
WARREN: “If you don’t know jewelry, know the jeweler.”
MAN: When I first walked into Borsheims, a wonderful sales rep, Deborah McAtee, greeted me.
After spending only 30 minutes with her, I knew that this was the place, with the right person, to
find the right engagement ring. If you want to find someone who will listen to your goals,
budget, quality, style and work to find the right stone, I highly recommend going to Borsheims.
VO: Visit Borsheims today. Located in Regency Court, Borsheims Boutique in Nebraska
Crossing, or online at Borsheims.com and get to know your jeweler.
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Web Script
Borsheims Review 12/8/2014 Internet Pop-up: 10 “Know the Jeweler” Music is softly playing in the background. It is a classical guitar piece created by a local musician. The tone of the piece is calm and reflective. SFX: MUSIC UP
MAN: I didn’t know where to start, but I knew I wanted to spend the rest of my life with her.
WARREN: “If you don’t know jewelry, know the jeweler.”
VO: Visit Borsheims today. Located in Regency Court, Borsheims Boutique in Nebraska
Crossing, or online at Borsheims.com and get to know your jeweler.
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Television Script Fine Jewelry & Gifts 12/8/2014 TV: 30 “For Every Occasion”
:01 VIDEO: OPEN ON A GROUP OF PEOPLE SHOPPING AT BORSHEIMS AUDIO: SFX: CLASSICAL GUITAR PIECE PLAYING SOFTLY VO: Borsheims Fine Jewelry & Gifts, there’s something for every occasion…
:03 VIDEO: CUT TO CU OF YOUNG MAN PICKING OUT ENGAGEMENT RING AUDIO: SFX: CLASSICAL GUITAR PIECE PLAYING SOFTLY
:05 VIDEO: CUT TO LS OF OMAHA SKYLINE AUDIO: SFX: CLASSICAL GUITAR PIECE PLAYING SOFTLY VO: An engagement…
:09 VIDEO: DOLLY IN ON YOUNG MAN PROPOSING TO GIRLFRIEND IN DOWNTOWN OMAHA WITH CHRISTMAS LIGHTS UP AUDIO: SFX: CLASSICAL GUITAR PIECE PLAYING SOFTLY MAN: Will you marry me? WOMAN: YES!
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:13 VIDEO: CUT BACK TO GROUP OF PEOPLE SHOPPING AT BORSHEIMS AUDIO: SFX: CLASSICAL GUITAR PIECE PLAYING SOFTLY VO: Borsheims sales reps will help you find the perfect gift…
:15 VIDEO: CUT TO CU OF ELDERLY COUPLE PICKING OUT A NECKLACE FOR GRANDCHILD’S GRADUATION AUDIO: SFX: CLASSICAL GUITAR PIECE PLAYING SOFTLY
:16 VIDEO: CUT TO LS OF GRADUATION CELEBRATION OF CAPS BEING THROWN AUDIO: SFX: CLASSICAL GUITAR PIECE PLAYING SOFTLY VO: A graduation…
:18 VIDEO: CUT TO GRANDPARENTS GIVING GIFT TO GRANDDAUGHTER AFTER GRADUATION AUDIO: SFX: CLASSICAL GUITAR PIECE PLAYING SOFTLY
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:20 VIDEO: CUT BACK TO GROUP OF PEOPLE SHOPPING AT BORSHEIMS AUDIO: SFX: CLASSICAL GUITAR PIECE PLAYING SOFTLY VO: Borsheims is affordable through Credit programs…
:21 VIDEO: CUT TO CU OF YOUNG WOMAN BUYING BRACELETS AUDIO: SFX: CLASSICAL GUITAR PIECE PLAYING SOFTLY
:23 VIDEO: CUT TO BRACELETS IN A LINE FOR BRIDESMAIDS AUDIO: SFX: CLASSICAL GUITAR PIECE PLAYING SOFTLY VO: and no matter what point of your life…
:24 VIDEO: CUT TO BRIDESMAIDS WITH BRACELETS AUDIO: SFX: CLASSICAL GUITAR PIECE PLAYING SOFTLY
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:26 VIDEO: CUT TO BABY SHOWER AUDIO: SFX: CLASSICAL GUITAR PIECE PLAYING SOFTLY VO: You can always find classic…
:28 VIDEO: CUT TO BABY SHOWER GIFT AUDIO: SFX: CLASSICAL GUITAR PIECE PLAYING SOFTLY VO: …timeless pieces…
:29 VIDEO: CUT TO BORSHEIMS LOGO AUDIO: SFX: CLASSICAL GUITAR PIECE PLAYING SOFTLY VO: …at Borsheims.
:30 VIDEO: FADE TO BLACK AUDIO: SFX: MUSIC FADE OUT
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Borsheims Interactive Mirror
Description
With technology continuously evolving, there are hundreds of ways to create interactive
guerrilla marketing ideas. An interactive mirror would allow customers to “try on” pieces of
jewelry when they are not near the flagship or boutique stores, both located in Omaha, NE.
EON Reality has created an interactive mirror that allows people to stand in front of a camera
and try on virtual 3D garments and accessories (EON Reality, 2014). Borsheims would be
able to upload their jewelry and accessories to the EON software. The mirror would allow
people to select which piece of jewelry or accessory they want to “try on.” After selecting the
piece, They would stand in front of the camera and screen, get into position so the item sits
where they want on their body, pose, and then snap the picture. After the picture is taken, the
future Borsheims customer would be asked information like, name, email, and their Twitter
handle (if they have one). The picture would then be sent to their email and tweeted to them
from a separate Borsheims Interactive Mirror Twitter account. In the email along with the
photo would be the item’s information, name, price, and link to Borsheims website to
purchase the item or browse for more. The Borsheims Interactive Mirror would be branded
with the Borsheims’: logo, location, social media, website, and a little bit of information,
history, mission statement, etc.
Rationale
The Borsheims Interactive Mirror will be placed in high-end shopping or outlet malls
around the country. In Manhattan, the interactive mirrors will be turned into a bus stop
shelter and be placed near some of the top shopping neighborhoods. The Manhattan
neighborhoods included will be:
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• Lower Manhattan & the Financial District
• SoHo
• Times Square & the Theatre District
• Madison Avenue
• Upper West Side near Shops at Columbus Circle
Along with Manhattan will be other large cities with shopping districts and heavily used
public transportation like Chicago and San Francisco. Creating an interactive mirror for
Borsheims will help create word of mouth marketing, getting their name out to people that do
not live in Omaha or own stock in Berkshire Hathaway, and increase sales through products
purchased after the picture is taken. The formal announcement will be made at the Berkshire
Hathaway annual meeting and a trial version will be tested during the weekend.
Examples
EON Reality’s Interactive Mirror has a video of how it is used:
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EON Reality’s Interactive Mirror has Key Features including:
© EON Reality
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© Classi Blogger
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Borsheims Mobile App
Description
At the moment, Borsheims does not have a mobile app. They have created a mobile
friendly website, but it is still quite difficult to maneuver. One of Borsheims competitors is
Tiffany & Co. In 2013 Tiffany & Co. released an interactive mobile engagement ring app.
The app allows you to pick from one of their iconic engagement ring styles, take a picture of
your hand and try the rings on to see which style looks best (iTunes, 2014). On Borsheims’
website they have a web app that allows you to build a custom engagement ring. The idea for
the mobile app is for it to be “multifaceted.” When the app first opens, you will be greeted by
the Borsheims logo and a message about either what is going on that week or month and
information about specials or sales that are currently taking place, along with a picture of the
“Deal of the Day.” On the top left corner of the app will be a pop up menu that slides from
the left side when opened. The menu will include:
• Shopping
o Engagement
o Diamonds
o Jewelry
• Try It On
• Design Your Ring
• Wedding Registry
• Consultation
• Pay Your Bill
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The ‘Shopping’ tabs will be set up just like the ‘mobile-friendly’ website. The ‘Try It On’
option will act like the Interactive Mirror. It will use the mobile front-face camera to take a
picture of you and then you can choose which item to place around your neck, wrist or
finger. You will be able to save the picture to your camera roll on your phone and then share
it however you wish. The picture will have a Borsheims logo in the bottom left corner so
when the photo is shared, the Borsheims brand remains with the piece of jewelry. The
‘Design Your Ring’ option will act like the web app, but mobile-friendly. In the ‘Wedding
Registry’ the user would be able to search for a wedding using the couples’ last names and
wedding date. The app will also be used for clients to edit their registry, if they find new
things they want to add or if they receive a gift from someone that didn’t use the registry. In
‘Consultation’ you will be able to input your information and schedule an appointment for a
consultation with a Borsheims Sales Associate. The last option, ‘Pay Your Bill’ the customer
would be able to sign into their revolving account by typing in their account number and
password to pay the bill or check account balance.
Rationale
The Borsheims Interactive App will be promoted through all social media, email, direct
mail, and on the new Interactive Mirrors. The formal announcement will be made at the
Berkshire Hathaway annual meeting and a trial version will be tested during the weekend.
The app will be available for Android and iOS users. The new Borsheims app will help make
it easier for people to shop, therefore, it will increase sales.
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Examples
© Borsheims
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© Lloyd Dobbie
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Creativity-Online shows a video of the new Tiffany & Co.: Engagement Ring App:
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Borsheims Hologram Shopping
Description
Holograms are the future. Holograms have been around since the 19th century, but as a
parlor trick known as ‘Pepper’s Ghost’ (Hockenson, 2013). In 2012, when Tupac
“appeared” at Coachella, San Diego’s AV Concepts used ‘Pepper’s Ghost’ to create a
hologram of Tupac, which was only a piece of foil with angled mirrors to create the
illusion that he was on stage. Companies are continuously working on ways to create real
holograms. On December 5, 2014, scientists at Bristol University discovered a way to
create 3D holograms that can be felt in mid-air. “The system, called UltraHaptics, has
been developed by the university's Department of Computer Science, and involves a
device that can pick up ultrasound waves present in the air, condensing them to create a
pressure difference that gives the illusion of a touchable 3D object floating in thin air”
(Phillips, 2014). The use of Holograms at Borsheims will be something that no other fine
jeweler has ever tried. With Holograms, Borsheims will be able to allow any customer
that is located anywhere outside of Omaha, NE to see and try on merchandise. Also the
use of Holograms for jewelry could cut down on national jewelry theft. Borsheims is
known to send certain pieces of jewelry to customers for award ceremonies or banquets
and then send back the items they don’t like. With holograms, Borsheims could upload
certain pieces to a special account for celebrities to try on pieces that may not be
available to the public. If Borsheims wants to break the barrier to entry with this new
technology and be the first in the field, than they will need to make a large investment in
the beginning. The ROI for using hologram technology will be greater, not only to
Borsheims, but to Berkshire Hathaway in the long-run. Berkshire Hathaway will be seen
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as a technology savvy organization and will make stock prices increase. According to an
article in the New York Times, ‘Geography and technology will be the key drivers,’ said
Martin Sorrell, the chief executive of the advertising giant WPP” (Pfanner, 2013).
Geography will no longer be a problem for Borsheims with new and advanced hologram
technology.
Rationale
The Borsheims Hologram technology will be available first to Berkshire Hathaway
customers. They will be able to sign in using their Borsheims revolving account and look
at pieces. The software will be interactive with a Borsheims sales person; this way there
is still a form of customer service, which is what Borsheims prides itself on. A video chat
will occur with a Borsheims sales representative while the customer tries on pieces that
are uploaded through the sales rep.
After the technology is tested with Berkshire Hathaway customers, there will be an
official release for the public. They will still have to use the holograms during Borsheims
business hours so the sales representatives can be interacting with the customer, but there
will be a few pieces for every type of jewelry (i.e., necklaces, earrings, bracelets, rings,
watches, etc.) that will be pre-loaded on the software. These items will be available on
the software 24/7 and can be tried on by customers. It will be the extravagant pieces of
jewelry that will be done during Borsheims business hours. The hologram technology
will also be a new way to shop for engagement rings without the significant other finding
out that they are shopping.
This technology will increase sales and gain loyal customers from all over the world, not
just in Omaha, NE or Berkshire Hathaway clients. The formal announcement of the
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software will be made at the Berkshire Hathaway annual meeting and a trial version will
be tested during the weekend.
Examples
The company Rose and Thistle has gotten the closest to creating a real hologram. The
video is located on Mashable.
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© Columbia Pictures/Everett Collection
UltraHaptics is software that scientists at Bristol University have figured out a way to create a
3D Hologram that can be felt. The video for this example is located on Newsweek.
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References
Berkshire Hathaway. (2013). Annual Report. Retrieved from,
http://www.berkshirehathaway.com/2013ar/2013ar.pdf
Berkshire Hathaway. (2014, May 3). Visitor’s Guide. Retrieved from,
http://www.berkshirehathaway.com/meet01/VisGuide2014.pdf
Borsheims. (2013). Borsheims Commitment to History. Retrieved from,
http://www.borsheims.com/OurCommitmentToOurHistory.aspx
Borsheims (2013). Credit Card. Retrieved from,
https://www.borsheims.com/borsheimscreditcard.aspx
Borsheims. (2014). Design Your Ring. Retrieved from,
http://www.borsheims.com/DesignYourRing.aspx
Borsheims. (2014). Events. Retrieved from, http://www.borsheims.com/Events.aspx
Borsheims. (2013). Layaway. Retrieved from, http://www.borsheims.com/Layaway.aspx
Bozell. (2014). Borsheims Berkshire. Retrieved from, http://bozell.com/work/borsheims-
berkshire/
Classi Blogger. (2014). Interactive Mirror with Multiple Options. Retrieved from,
http://www.classiblogger.com/interactive-mirror-with-multiple-options-interesting-topic-
to-share-and-read/
Creativity Online. (2010, June 14). Tiffany & Co.: Engagement Ring App. Retrieved from,
http://creativity-online.com/work/tiffany--co-engagement-ring-app/20398
Dobbie, L. (2014). iPad Apps from Tiffany & Co. – Love and Diamonds. Retrieved from,
http://www.lloyddobbie.com/ipad-apps-tiffany-love-diamonds/
Drewniany, B. & Jewler, J. (2013). Creative strategy in advertising. (11th ed.). Boston, MA:
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Wadsworth, Cengage Learning.
EON Reality Inc. (2014). Interactive Mirror. Retrieved from, http://www.eonreality.com/eon-
interactive-mirror/
EON Reality Inc. (2014). Interactive Mirror. YouTube. Retrieved from,
https://www.youtube.com/watch?v=AYjRxSw2v6M
Facebook. (2010, September 2). Borsheims Fine Jewelry & Gifts. Retrieved from,
https://www.facebook.com/BorsheimsFineJewelry/timeline
Fischer, L. (2014, October 25). Borsheims Employee. Diamond Librarian since 2011. Personal
Communication.
Frommer’s. (2014). The Top Shopping Streets & Neighborhoods. Retrieved from,
http://www.frommers.com/destinations/new-york-city/663769#sthash.9IpixHeZ.dpbs
Hockenson, L. (2013, February 21). We’re One Step Closer to Bringing Holograms Home.
Mashable. Retrieved from, http://mashable.com/2013/02/21/holograms-future-tech/
Instagram. (2014). Borsheims Fine Jewelry & Gifts. Retrieved from,
http://instagram.com/borsheims
iTunes. (2014). Tiffany & Co. Retrieved from, https://itunes.apple.com/us/app/tiffany-co.-
engagement-ring/id375427126?mt=8
iTunes Preview. (2014, October 6). Tiffany & Co. Engagement Ring Finder. Retrieved from,
https://itunes.apple.com/us/app/tiffany-co.-engagement-ring/id375427126?mt=8
Kunz, B. (2012, August 7). [Photograph of Robert Downey Jr. in IronMan]. Why Apple Will
Turn to Holograms. Businessweek. Retrieved from,
http://www.businessweek.com/articles/2012-08-07/why-apple-will-turn-to-holograms
LinkedIn. (2014). Borsheims Fine Jewelry & Gifts. Retrieved from,
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https://www.linkedin.com/company/borsheims-fine-jewelry-&-gifts
Pfanner, E. (October 14, 2013). Peering into the future of media. NYTimes.com. Retrieved on
October 20, 2014 through IMC 615 Course Readings linked from,
http://www.nytimes.com/2013/10/15/business/media/peering-into-the-future-of-
media.html
Phillips, C. (2014, December 5). Scientists Invent 3D Holograms That You Can Touch.
Newsweek. Retrieved from, http://www.newsweek.com/scientists-have-invented-3d-
holograms-289551
Pinterest. (2014). Borsheims Fine Jewelry & Gifts. Retrieved from,
http://www.pinterest.com/borsheims/boards/
Podsada, J. (2014, July 10). New rules this year for Borsheims diamond dig. Omaha World
Herald. Retrieved from, http://www.omaha.com/money/new-rules-this-year-for-
borsheims-diamond-dig-regency-store/article_9eda0a11-a3a7-57b2-8385-
d370620f8ecc.html
Podsada, J. (2013, May 5). Warren Buffet works another lucrative shift at Borsheims. Omaha
World Herald. Retrieved from, http://www.omaha.com/money/warren-buffett-works-
another-lucrative-shift-at-borsheims/article_addaa9d6-cd23-5b4e-b401-4e70961ff876.html
WOWT. (2013, September 8). Borsheims Opening Second Location At Gretna Outlet Mall.
Retrieved from, http://www.wowt.com/home/headlines/Borsheims-To-Add-Second-
Location-At-Gretna-Outlet-Mall-222883921.html
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Photo Credits
[Group of People in Borsheims Photo] Retrieved from,
http://www.lawrenceburg.com/buffett/borsheims2.jpg
[Young Man Sketch] Retrieved from,
http://www.clker.com/cliparts/0/f/9/a/11971025451307781503johnny_automatic_normal
_face.svg.hi.png
[Omaha Cityscape] Retrieved from,
http://farm1.static.flickr.com/41/75799399_77c923c994_m.jpg
[Rooftop Proposal Photo] Retrieved from,
http://www.pinterest.com/pin/144959681729984488/
[Grandparents Sketch] Retrieved from,
http://previews.123rf.com/images/devilkid/devilkid1301/devilkid130100048/17338556-
happy-old-couple-of-frame-on-white-background-people.jpg
[Grad Caps Photo] Retrieved from, http://nyulocal.com/wp-
content/uploads/2012/02/Graduation-hats-flying11.jpg
[Grandparents Give Gift Photo] Retrieved from,
http://st.depositphotos.com/1010710/3380/i/450/depositphotos_33800727-Graduate-and-
grandparents.jpg
[Young Woman Sketch Photo] Retrieved from, http://mt-st.rfclipart.com/image/big/93-86-
4d/face-of-young-woman-with-long-hair-Download-Royalty-free-Vector-File-EPS-
40513.jpg
[I Do without You Photo] Retrieved from,
http://www.pinterest.com/pin/206532332886879408/
WVU•IMC•615
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[Bridesmaids Gold Bangles] Retrieved from,
http://www.pinterest.com/pin/86342517830690218/
[Baby Shower Photo] Retrieved from, http://www.savvysassymoms.com/blog/wp-
content/uploads/2013/05/baby-shower-copy.jpg
[Baby Silverware Photo] Retrieved from,
http://www.borsheims.com/Reed_Barton_Sweet_Dreams_Baby_Set-P127633.aspx
[Borsheims Logo] Retrieved from, http://thescoutguide.com/wp-
content/uploads/2013/12/BORSHEIMS-LOGO.jpeg
