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Rolex

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by

Felix Thyen

on 22 October 2015

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Transcript of Rolex

Overview
Wristwatch manufacturer
History
1905
Founded as "Wilsdorf and Davis"
1908
Renamed to "Rolex"
1910
Worlds
first
Swiss
certified Wristwatch
1914
Class "A" Certificate
Kew Observatory (GB)
1919
Relocation
to Geneva
1926
"Oyster"
First
waterproof
Wristwatch
1931
Perpetual Rotor
1950 - 1953
"Submariner"
100m waterproof
1960
Private Trust
today
28 affiliates
worldwide
Network of
4000 watchmakers
in over
100 countries
Incorporate company
Located in Geneva in Switzerland
About 6000 employees
Total revenue: 2,9 - 5 bn. CHF
Image
Luxury
Achievements / Goals
Elder
Exclusivity
Superiority
High Quality
Premium Price
Male
45 years or elder
Marketing
Well situated
Product
Price
- High quality
- Exclusivity
- Precision
- Premium prices
- No discounts
- Limited
availability
Promotion
- No "new-media" advertising
- No TV or Radio advertising
- Just celebrities
- Consistent message and consistent presentation
- Historical occasions and achievements
Place
- Just selected areas for their stores and
advertisements
- Wimbledon
- Australian Open
- US Open (Golf)
- Formula 1
- Upscale areas for franchise-store
Production
The production takes place exclusively in Switzerland
Advantages
Disadvantages
Production
The production takes place exclusively in Switzerland
Production

Advantages

the best quality all the time
promotes jobs in their own country

Disadvantages

high labor costs
high currency fluctuations


Interesting facts

Rolex produces about 800.000 watches in a year
The Swiss watch industry employs 55.816 people in 2012 in Switzerland
Rolex is the biggest gold processor in Switzerland
Markets
Markets

USA
Markets

China
Markets

Switzerland
2009 -biggest drop since Great Depression
In 2009 USA had the biggest decline of any other country
1/3 of Rolex sales goes to the USA
Rolex was particularly affected
China is a growing market in luxury segment
22% of affluent people own a Rolex in China
Hong Kong is the biggest buyer of premium watches
28.1% Watchesexport from Switzerland to China

Main markets of the Swiss watch industry
Promotion
- No "new media" advertising
- No TV or Radio advertising
- Just celebrities
- Consistent message and consistent presentation
1) Evaluate the alternativ bases that Rolex might use to segment its market. Which base would you recommend and why?

2) Evaluate the current market targeting strategy being used by Rolex. Is it appropriate?

3) Discuss the key factors contributing the succes of Rolex's positioning strategy.

4) 'Rolex could become a prisoner of its own strategy.' Critically evaluate the advantages and disadvantages a repositioning strategy for Rolex.


Questions Marketing Book Page 137
Rolex: the symbol of personal achievment
Thank you for listening
Strengths

Global brand awareness
Extremely high quality
Luxury and exclusivity

Weaknesses

High switching costs
Not accessible to all
Younger generation not involved

Opportunities

develop effective social media campaign
develop new watches for the younger generation
fast growing markets (Hong Kong, India, China, Taiwan) and new rich people in Russia

Threats

counterfeits
High-end competition
Low-end watches that look similar and
Smartphones / smartwatches
High dependency of image
Full transcript