MICRO AND MACRO ANALYSIS OF ROLEX WATCHES

Submitted by, Mahendran C.S(1091024) Group-5

Introduction: The Rolex is one of the premium watch makers that is still active in the market . THE Rolex Company is based watchmaker based in Switzerland .The company manufacturing the Rolex was launched in 190s in the United Kingdome by the then founder Alfred Davis . The company was then known as Wilsdorf and Davis . However the increasing prices of gold and silver in the United Kingdom drove the company to shift its head quarters from the London , UK to Geneva in Switzerland . The company was then named the Rolex Watch Company which was again changed to Montres Rolex SA and more recently Rolex SA .

Watch models:

Air-King Date Datejust Datejust II Datejust Turn-O-Graph Lady Datejust Pearlmaster Daytona

Paul Newman Daytona

Day-Date Day-Date II

Day-Date Oyster Perpetual Explorer Explorer II GMT Master II Masterpiece Milgauss Oysterquartz Sea Dweller Sea Dweller DeepSea Submariner Yacht-Master Yacht-Master II

Cellini models

Quartz Ladies Quartz Mens Cellinium Cestello Ladies Cestello Mens Danaos Mens Prince

Competitors: Omega, Tag Heuer, Breitling, Rado and other luxury watch makers are its competitors. Replica watches produced in Asian countries and marketed round the globe Second hand luxury watch market.

Brand benefits: Sign of status, success and flair Unmatched Swiss craftsmanship Global recognition Quality par excellence Legacy of fine watch making over 100 years

SWOT analysis: Strengths: Quality Commitment to Excellence : The Rolex name itself is well established Reputation : Well known name.

 Manage demand Swiss-Made : It is considered a luxurious item Mechanical Movement Advertising Loyal customers Market share leadership Unique products Strong financial position High R&D Innovation

Weakness: Style limitations High price limits market Myopic Management

Opportunities:

 Expansion of Luxury Brands Lower Price Levels Market Share Snapshot Maintain Exclusivity of Brand

Threats: Desirability Diminished Relative to other Luxury Brands Change in trend : Cheaper technology , Economic slowdown Product substitution Expensive, flashy items are seen as wasteful and frivolous Introduction to the product: Background of watch: It is difficult to imagine a world without clocks. People in the modern economy depends on the ability to measure time. Watch revolution: Obelisk Shaped Sundials (Egypt) Mechanical Clock (Italy & England Mid Fourteenth Century)

 Wrist Watch (Queen of Naples) Over the 700 years Swiss Jura Product Classification: EXPLORER: With 24-hour red auxiliary needle,to facilitate night adventure lovers to identify.

SUBMARINER : Water deeper than 300 meters. With rotating outer ring to facilitate the calculation of time . GMT MASTER : Not only to display two time zones simultaneously the time clock can be independently moved to another time zone, without moving the minute hand and second hand. COSMOGRAPH : As a multi-functional watches, can meet the engineering, sports and business and other needs.

Channel Distribution: Executing an effective channel sales strategy is a critical component of a successful channel business endeavor. Its formulation and design depends on thorough and careful analysis and planning. It follows certain steps that begin with understanding your channels, down to the continuous management of recruited partners. Probably one of the most vital and challenging steps in formulating channel sales strategy is selecting the potential channel partners.

Channel development of Rolex by following examples: 1905 imported movement ,case & dials. After assembled in Clerkenwell then retailers sales using their name on the dial. Creating foreign subsidiaries in 1920. Via International Red Cross Prisoner of war.

Promotion:

Promotion is one of the four elements of marketing mix (product, price, promotion, distribution). It is the communication link between sellers and buyers for the purpose of influencing, informing, or persuading a potential buyer's purchasing decision . Rolex use Brand Ambassador to promote its Product Swiss Water Polo Team (1930) Swiss Alpinist Teama Newspaper

Branding: Developing a brand strategy can be one of the most difficult steps in the marketing plan process. It's often the element that causes most businesses the biggest challenge, but it's a vital step in creating the company identity. The brand identity will be repeatedly communicated, in multiple ways with frequency and consistency throughout the life of the business.

Consumer bio-data of ROLEX: The main recipient are creamy customers who are looking for a high end luxury watch with a status symbol which increases their value.

Generally worn by people of age 30 and above.