Chapter 7 - Business Marketing

In this chapter we are introduced to industrial marketing, also called business marketing. Business marketing is a way in which one company markets their products to other companies or organizations, for the purposes of non-personal use. However, Cartier is a prestigious worldwide renowned jewelry brand and the company itself is the manufacturer, distributor and retailer of its products. Moreover, Cartier has its own resource exporting company, called Cartier Resource Incorporated. Surprisingly, Cartier does have intense affiliations with other organizations.

Commonly known, behind the glitter of gold are ugly environmental and social costs. Mining industries cause ecological challenges in their search for raw materials. According to Eluxe magazine, Cartier was one of the founding members of the Responsible Jewelry Council. The council mandates that companies must be fully regulated and controlled when they mine for their gems and metals. The council also ensures that the communities involved in mining are paid fairly and are protected by the highest standards of safety and that environmental standards are met. Cartier not only provides their miners decent wages, but also offers education in finance and technology, a free health clinic, and builds roads where they are needed. Cartier has become more economically and environmentally sustainable than the other companies in their business field which is not easy to achieve by these days.

Cartier created the Cartier Women’s Initiative Awards in 2006 in order to encourage woman entrepreneurs. This is a joint partnership project initiated by Cartier, the Women’s Forum, McKinsey & Company (widely considered to be one of the most prestigious management consulting firms in the world), and INSEAD business school (widely considered to be one of the world’s best business schools). These organizations have joined together to create the Cartier Women’s Initiative Awards, which aim to support female entrepreneurs through mentoring, funding, networking opportunities, and media visibility. Each of these organizations provide experienced business coaches to guide the six award winners in preparation for the presentation, and then to assist the laureates with the essentials of running a business and keeping it thriving. Under the cooperation of Cartier and these organizations, this award is successfully conducted every year.

Through all the studies of marketing in this class, I have recognized several elements which are crucial to Cartier’s continuing success in its thriving business. These include endless innovation, precise investments and the rapid stream of their products. Additionally, unlike most huge companies, Cartier has had the sustainability on their business field which has truly impressed me by keeping the business thriving, and maintaining ethical practices in the environment and our society.