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Transcript of Rolex Presentation
Mariam Serrokh – 1385239
Tendai Chidawanyika - 1409785
Osai Jalloh - 1387810
Astridah Banda - 1389084
Table of Content
1. Rolex Key Timeline
2. Brand Overview
3. Uniqueness of Rolex
4. PEST Analysis
5. Industry Analysis
6. Competitor Analysis
7. Marketing Mix
8. Value Chain Analysis
9. Market Segmentation
10. External Analysis – SWOT
13. Reference List
Rolex Key Timeline
170 models and 3,200 combinations
2000 watches are made on a daily basis
Uniqueness of Rolex
The engine of the watch
Made from various manufactured components
Guarantees long-term high performance.
Undergoes an “exacting” process
Rolex movement becomes a certified Swiss chronometer.
The 4130 Movement
Uniqueness of Rolex
First company to use this steel
Complicated to machines
Insensitive to corrosion
Holds resilience and preserves beauty in sever conditions
Prices for precious metals
Ethical issues “Blood Diamonds”
Reduced production cost
Estimated UK sales increased from £987 million in 2009 to £1,079 million in September 2014.
This is a 4.6% market growth in the watch industry.
Source: (Worldwatchreport, 2014)
Most Searched Product
Source: (Worldwatchreport, 2014)
Porter’s Five Forces
18.4% market share in 2012
Targets young and ambitious individuals
9% market share 2012
Source: (Mintel, 2014)
Marketing Mix - 4Ps
- High performance
Vary depending on the model
The cheapest category £3,000 - £10,000.
Standard category: : £11,000 - £40,000.
Expensive watches: from £50,000 up to millions
No price reductions
Stores located in prestigious areas
Globally, Rolex opened 111 stores
No online sale
Printed adverts on magazines
Global Sports & cultural events sponsorships
Value Chain Analysis
Privately held independently run entity
Respected, admired, valued and globally known
Discreet and Obsessed with quality control
Extremely competent and almost obsessively organized
Meticulous security checks
Total of 2800 employees
Rolex chemistry labs full of highly trained scientists
Army of gemologists
Human Resources Management
Internal Research and Development Department
Extremely well-equipped professional science labs
Has its own science lab
Movements are hand assembled and tested
Virtually everything made in house
Diamonds and precious stones are hand selected and hand set.
One watch takes a year
High security in transportation
Sales through Official Rolex Retailers
No online sales
Two watch sales a year per retailer
Hybrid Advertising Strategy
Social media, celebrities, opinion leaders and sports icons
Cancels warranty for unauthorized third party parts and repairs
Two year service guarantee
on income basis
(Upper Middle Class)
Strong financial position
Strong brand image
Maintain innovative reputation
Competition from several premium watches
No online sale
Experimenting with different models
Target younger generation
Produce smart watches
Rolex’s limited dealership lead to consumers switching over
Impact of counterfeits on the brand image
One of the most valuable and influential luxury brands in the world with brand value of 5.1 billion, market share of 32.4% and sales of 3.1 billion in the watch industry.
Its loyal group of customers are 35 years old and over who are successful and affluent individuals.
Maintained its luxurious brand image through excellence, innovation, performance, exclusive distribution and prestige
Rolex is an active business in supporting the environment, exploration, arts and sports through sponsorships
It needs to increase product range by producing modern designs to attract young affluent customers through limited edition ranges in order to engage and test the market.
It needs to consider partnering with well-known designers for limited editions as this will create a buzz, freshen the image and attract new customers who are fans of those particular designers.
It needs to connect more with women as they make the most jewellery and watch purchases. It should consider more female ambassadors of high social standing, sponsor more female focused sport events as its image campaigns focus mostly on males.
Beckertime.com, (2014). The Evolution & History of Rolex. [online] Available at: http://beckertime.com/the-evolution-history-of-rolex/ [Accessed 8Nov. 2014].
Boundless, (n.d.) “Developing a Market Segmentation.” Boundless Marketing. Boundless, 14 Nov. 2014. Retrieved 14 Nov. 2014 from https://www.boundless.com/marketing/textbooks/boundless-marketing-textbook/consumer-marketing-4/market-segmentation-36/developing-a-market-segmentation-188-4065/
Cuttingsjewellers.co.uk, (2014). Unique Characteristics of a Rolex Watch. [online] Available at: http://cuttingsjewellers.co.uk/article-page.php?id=9 [Accessed 12 Nov. 2014].
Euromonitor international, (2014). Smart watches not ready to take on the tradition watch, Available: (Online) https://www.portal.euromonitor.com/portal/analysis/relatedtab (Assessed 11 November 2014)
Faqs.org, (2014), ROLEX S.A. – Patent applications. [online] Available at: http://www.faqs.org/patents/assignee/rolex-sa/ [Accessed 16 Nov. 2014].
Federation of the Swiss Watch Industry FH, (2013) The Swiss and world watchmaking industry in 2013. [online] Available at: http://www.fhs.ch/file/59/Watchmaking_2013.pdf [Accessed 13 Nov. 2014].
Formula1.com, (2014). Rolex signs global partnership with Formula 1™. [online] Available at: http://www.formula1.com/news/headlines/2012/12/14149.html [Accessed 16 Nov. 2014].
Jack, V., Rottman, L., Dill, K., Dill, K., Kalla, S., Barrington, R., Doerr, E., Rottman, L. and Solomon, M. (2014). Rolex on the Forbes World's Most Valuable Brands List. [online] Forbes. Available at: http://www.forbes.com/companies/rolex/ [Accessed 23 Nov. 2014].
Jobber, D. (2010) Principles and Practice of Marketing, McGraw-Hill. 6th ed
M-comm, (2014). Decoding the Rolex: Supply, Demand, And Value. [online] Available at: http://m-comm.com/apd/a.php?a=1644 [Accessed 12 Nov. 2014].
Mintel, (2012). Watches and Jewellery - UK - September 2012. [Online] Available at: http://academic.mintel.com/display/637425/ [Accessed 19 Nov. 2014].
Mintel, (2014). Watches and Jewellery Retailing - UK - September 2014. [online] Available at: http://academic.mintel.com/display/679470/ [Accessed 17 Nov. 2014].
Rolex, (2014). Dealers locator. [online] Available at: http://www.rolex.com/rolex-dealers/dealer-locator.html [Accessed 13 Nov. 2014].
Rolex, (2014). Discover more on Rolex.com. [online] Rolex. Available at: http://www.rolex.com/footer/legal.html [Accessed 12 Nov. 2014].
Rolex, (2014). History 2000 - 2013. [online] Rolex. Available at: http://www.rolex.com/about-rolex/rolex-history/2000-2013.html [Accessed 13 Nov. 2014].
Sciedu.ca, (2012). Consumption Style among Young Adults toward Their Shopping Behavior. [online] Available at: http://www.sciedu.ca/journal/index.php/bmr/article/viewFile/1934/1084 [Accessed 15 Nov. 2014].
Thecounterfeitreport.com, (2014). The Counterfeit Report. [online] Available at: https://thecounterfeitreport.com/product/118/Rolex-Submariner-Watches.html [Accessed 12 Nov. 2014].
Worldwatchreport.com, (2014). Report contents | WorldWatchReport. [Online] Available at: http://www.worldwatchreport.com/about/report-contents/ [Accessed 20 Nov. 2014].
Wthejournal, (2014). Swiss watchmaking: key figures - WtheJournal - all about high-end watches. [online] Available at: http://www.wthejournal.com/en/pages/swiss-watch-industry-figures [Accessed 14 Nov. 2014].
on lifestyle basis
Homeage to Glodsmith Benvenuto Cellini
Painter, sculptor, musician