Staff photo by Dan Henry/Chattanooga Times Free Press - David Morgan, owner of Bench Vizion Jewelry Designs shows off a custom bracelet that speaking about a Christmas contest he is sponsoring which will award a one-quarter carat. solitaire in white or yellow gold to the five contestants who's stories about how the economy has affected their engagement plans touches him the most.
A local jewelry store's holiday contest that will give away five quarter-carat diamond rings is more than just a marketing technique.
"Other stores -- we talk among each other and they call it a gimmick," said David Morgan, owner of Bench Vizion Jewelry Designs on Hixson Pike, which is hosting the contest for the second time. "But for me really it's the fact that we've literally been buying the gold and silver off peoples' hands, and it is heartbreaking."
Two years ago Morgan held the contest and hundreds of people submitted essays describing why they should be one of the five to receive a solitaire ring in yellow or white gold. The contest is back and Morgan said since Dec. 1 he's received nearly 100 essays.
Although Morgan said the contest is a way to "give a little back to the community," he acknowledges it's also good for business.
"Even people who didn't win [last time] are calling back this year; they remember who we are," he said. "You remember the jewelry store that gave away the diamond rings."
Bev Brockman, an associate professor of marketing and entrepreneurship at the University of Tennessee at Chattanooga, said creative marketing strategies are common in tough economic times, especially for small businesses.
"You have to think more creatively in terms of your promotion," she said. "The traditional approaches as far as big advertising campaigns and commercials are not as effective for a smaller business -- period. You have to think about how to spend your money as wisely as you can."
Brockman said that includes finding ways to attract attention through means other than traditional marketing.
"I think that it's just even more pronounced in down economic times," she said. "Taking advantage of publicity is a big thing smaller businesses will try to do."
The approach seems to be working for Morgan.
"This year is better than I've seen in awhile," he said. "I don't know if it's because of the advertising we've done, or the contest, but I've definitely noticed it in the layaway box, we're knocking the dust off it finally."
Nikky Tocco, an employee at Bench Vizion, said this time of year typically draws "an outpouring of new customers," but the store has been busier than normal.
Morgan said he anticipates the surge in business will last through Valentine's Day, mentioning that one of the winners from the last contest waited until then to pop the question with the free ring.
Contact staff writer Brittany Cofer at firstname.lastname@example.org or 423-757-6476. Follow her on Twitter at twitter.com/brittanycofer.
Brittany Cofer is a business reporter who has been with the Chattanooga Times Free Press since January 2010. She previously worked as a general assignment Metro reporter. In the Business department, she covers banking, retail, tourism, consumer issues and green issues. Brittany is from Conyers, Ga., and spent two years at Kennesaw State University in Kennesaw, Ga., before transferring to the University of Georgia. She graduated from the university’s Grady College of Journalism in December ...