Presented By: Shrey Nath Jha Waqar Ali Khan Shaino Zaidi Rolex Case- Study
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Presented By:
Shrey Nath Jha
Waqar Ali Khan
Shaino Zaidi
Rolex Case-Study
Founded in 1905 by Hans Wilsdorf and Davis in London
HQ at Geneva Switzerland.
Rolex is the high quality luxury wrist watches
Business Week magazine ranked Rolex at 71st position in 2007.
History
Company’s Innovation
It was the 1st wrist watch with an automatic changing day and date on the dial.
The 1st wrist watch to show time zones at once.
The 1st wrist watch case water-proof to 100mt (330 ft)
Product Models
3Oyster Perceptual
Oyster Professional
Cellini
Umbrella Branding
Rolex GMT Master II gold and stainless steel
Rolex Daytona stainless steel
Rolex Sea Dweller Deep-sea with 3,900m depth ratingRolex Yacht-Master
Rolex Daytona chronograph stainless steel, white dial
Fighter Brand : “TUDOR”
Launched in 1946.
They were mid range watches.
Competitors were Tagheur, Citizen & Rado
Pricing Strategy
Premium Pricing
Basic Price for Oyster Perpetual$2,500 up to $2,00,000
Pricing Variances$2000 up to $12000
Communication Strategy
Traditional Tool = Magazines
Modern Tool = Internet
Rolex Brand AmbassadorCelebrity who uses their public image to promote the
Rolex brand
To increase the visibility and desirability of rolex
Extremely talented people from a broad spectrum of professional pursuits.
The ultimate goal of the program from a business standpoint is to find and commend
professionals and pioneers who reflect the Rolex company’s tenets of precision, style and success.
Sir Jackie Stewart
40th anniversary as a brand ambassador for Rolex
Gold day date with a president bracelet
He had emerged as Britain's top car racing driver
One of the top five in the world
“They see it as timeless. Timing is everything in life.”
Distribution Strategy
Earlier = Official Rolex Dealers
Later through Online as well
Prestige watches are everywhere it seems, but none is more connected to status and success than authentic
Rolex watches
Attention to detailingLimited production of watches.Investment value besides their good looks and styling -their value was double the original cost.
Authentic Rolex Watches
The World of
Rolex
Luxury Market
Wealth & Travel
James Bond 007
Disposable Income
Luxury Invention
Prestige Sports
Swiss Made
Corporate Success Symbol
Brand Image & Positioning
CUSTOMER KNOWLEDGEULTIMATE SOCIAL SYMBOLBRAND LOGO – CROWNINNOVATIONS IN PRODUCT LINEPOWERFUL BRAND AMBASSADORSSPORTS AND CULTURAL EVENTSPHILANTHROPIC PROGRAMS
SWOT of “Rolex”
STRENGTHS
•QUALITY•COMMITMENT TO EXCELLENCE•REPUTATION•MANAGE DEMAND•SWISS MADE•MECHANICAL MOVEMENT•ADVERTISING
WEAKNESSES
•STYLE LIMITATIONS
•HIGH PRICE LIMITS MARKET
•TECHNOLOGY IS NOT ACCURATE
THREATS
•EXPANSION OF LUXURY BRANDS
•MAINTAIN EXCLUSIVITY OF BRAND
•DESIRABILITY DIMINISHED RELATIVE TO OTHER LUXURY
•BRANDS LOWER PRICE LEVELS
OPPORTUNITIES
•Rolex Should Introduce Separate Product Lines With Different Brand Identities Under The Rolex Umbrella
•Introduce New Designs•Connect With Female Customers•Attack The Online Counterfeit Industry•Understand The Younger Consumers Relate To Luxury•Communicate Long Term Value
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