Rolex Company Analysis

Rolex association AnalysisThis report is slightly the research on a premium mathematical crossroad fault on the market. The premium yieldion out team agrees to choose is the Rolex companionship harvest-time. Rolex fellowship was the companies that manufactures a high gear quality great deal agree and sells the output to an top(prenominal) high value to the consumer, Rolex telephoner also provide technical relieve service e finic whollyy for its production giver at different places or facilities due to its different region and its global market or task operations.The objective of Rolex Company is to provide the high and lavishness hand squ be up with ripe technology and shape which also promote its injury to a contour of collection item which emblemize as prestige, luxury and high quality. The resource and mission of Rolex Company was to always put the customer at the prototypal place and make sure that their customer argon fit with their product and serv ice.ObjectiveProvide the high and luxury hand overhear with innovative technology and determination and promote its brand to a kind of collection item which symbolize as prestige, luxury and high quality.Vision Mission StatementAlways put the customer at the first place.Ensure that their customers are satisfied with their product and services.2.0.0 Company abridgmentRolex is the populaces strong known brand in luxury watches. In addition to that, Rolex was include in the luxury watch list of the worlds top brands. It is only brand that able to win 2000 watches per day and able to earn 3 trillion per day. lts brand address , exclusiveness and unique style attract population from all strata of society.2.1 BackgroundHans Wilsdorf and his brother-in-law Alfred Davis founded Wilsdorf Davis and signed as WD in the year of 1905 in London, England. Later the light upon Rolex trademark was registered in 1908 and opened a smudge in La-Chaux_de-Fond, Switzerland, which was the worl ds nitty-gritty(a) for most(prenominal) high quality watch making.The line Rolex in phrase of French were horlogerie exquise which mean exquisite horology.In 1919, the guilds military headquarters was moved to geneva, Switzerland, because taxes and export duties in the United Kingdom were driving up costs. The company was first established in Geneva as the Rolex attend Company. Later, the surname changes toMontez Rolex, SAand finally just Rolex, SA. To add on, Rolex was the first company to produce fully waterproof watch (1926), auto-winding watch (1932).2.2 Company LocationRolex Company split its product and services into two different sections one was the usual direct selling and the other was the service facilities. Until now, The Rolex principal(prenominal) headquarter is on Geneva of Switzerland by Rue Francois-Dussaud. In Malaysia are only on Kelantan, Perak, Pulau Pinang, Sabah, Sarawak, and Selangor which the center for direct selling. But at that place was only o ne Rolex service center at Malaysia which in Jalan Sultan Ismail at Menara Dion3.0 Product and services nation satisfy their asks and needs with products and services. A product can be provided to a market to satisfy a need or want. Besides that, product include services, which are benefits or activities provided for sale that virtually intangible. Examples include insurance, airline, banking, category repair services and so on.3.1 Product DescriptionA product is anything that is capable of satisfying customer needs. (David Jobbs) The product was a physical product and took the form of a hand watch. The previous Special edition hand watch manufacture by Rolex Company hand watch baby-sit Submarine make evoke a feeling to the customer standardized a sea because of its blue design on the watch. Rolex Company took the symbol of a crown and places it on its company name to be its brand or logo (figure 1.1)3.2 Competitive ComparisonThe Swiss luxury watch making industry is a profitab le market. However, new entrants find it problematic to enter the market due to the numerous barriers. In addition to that, there were still many top brands of luxury watches in the market to bang up with different styles of watches. Here are some of the top brands and competitors of luxury watches which are famous.CartierCartier is a company of the first worldwide luxury watchmaking sort out and Richemont Compagnie Financiere Group. Cartier enjoys the fame for selling only the first rate quality of je thoroughlyery and accessories. tag end Heuer stigmatise Heuer name has its distinct reputation and status in the world of luxury watches. Furthermore, many Hollywood stars also like to wear Tag Heuer watches.BlancpainBlancpain was founded in 1735 by Jehan Blancpain and is one of the luxury watches in the market. Famous businessmen and celebrities prefer Blancpain watches because Blancopain watches show the exclusiveness and individuality of their personality.3.3 Supply Demand fle sh outDue to concentrated on its quality and its image, Rolex company supply cannot slide by demand because using the certificate high quality material and pendent craftsmanship to produce each watch will very sequence taking and some model even required some surplus technology to produce the model.Refer to the market, this product was considered as inelastic product because add-on in value lead to fewer customer to get going the product.3.4 Technology needsRolex has a few series of its watches. in that location are Automatic Movement, Classic watches, Quartz Movements, Water resistant cases, Collection, Certified Chronometers and ceramic bezels.Ceramic bezels-The bezel of a watch will exacerbate when exposed to sunlight. Regarding to this issue, Rolex have been motivated to form a unique bezel with a Cerachrom disc. It is essentially scratch-proof and its twine remains unaffected by ultraviolet ray. They are available on the Daytona models, Sea Dweller-Deepsea, Submariner and GMT Master ll.Water-resistant cases- The watch can be survived withstand pressure to a depth of 100m.Classic watches- The patternic watches assembled with scrupulous attention to detail and crafted from the first-rate raw materials.4.0 foodstuff Analysis food market analysis is to understand its evolving threats and opportunities and determine the attractiveness of a market.4.1 Target Market Segment systemRolex Company using the differentiated Segment by dividing the target market to three group that is normal model, female model, and the special model. These targets also targeting upper high or high social class population because are affordable compare to the lower class.4.1.1 Industrial Participants / describe Player1.Rolex2.Cartier3.Breitling4.IWC5.FranckMuller6.Blancpain7.Corum8.GIRARD-PERREGAUX9. Audemars Piguet10. Hublot4.2 SWOT AnalysisRolexStrength send awareness involves the efficiency of consumers to remember to the brand name or recognition brand. In the acqu ire decision, it can play a vital role because plurality normally like to buy familiar brands. Brand awareness has been calculated by a variety of brands and is available at Annex lV Brand Awareness. This result shows that Rolex has 97% for awareness. The Rolex brand value is quite high and the name is known around the world.WeaknessThe strategy has been defined so well but it is unverbalised for the company to change its strategy even how innovative the strategy are. The weakness is that could remain some segments that hard to be achieved on the market. For instance, if the fashion goes to GPS watches, Rolex is hard to changes the strategy becauseEven they try to change their product to GPS watches, concourse assume that Rolex to be classic watches. In this case, Rolex would be hard to get a market share of GPS watchesOpportunityRolex brand name is very valuable. It seems that I can be diversified in related to fields. Rolex should take the opportunity to open jewelry line over the world. Rolex has the power to produce jewelry with its technical.ThreatsThe threat of Rolex is youth does not recognize the name of Rolex. Normally, the most mid age people recognize the name of Rolex because most of the segments were set only for mid age people or midst upper social people.Market NeedNow days Customers are very concern and picky intimately on quality on a product especially luxury or premium product or services. To this situation, Rolex Company is very caution on its every product so that will not disappoint the customer and remain the respectable name of its Company. Other than that, Rolex Company also cautious on its design for every product example what meaning or message want to tell the wearer, or how attractiveness on the customer and probably create a new function technology.5.0 implementation and strategies5.1 Marketing strategyThe selling goals of the company are increase awareness of your products and services and increase gross sales by 150% fo r next few months.Besides that, the company could use the 5Ps of marketing to achieve its goal. There are product, price, promotion, place and people.After that, the company will test ideas by doing research. The company could done its research through personal interview, survey, e-mail and telephone.5.2 Pricing StrategyIn a nutshell, the Rolex Company could work on value-based pricing structure. Rolex Company will determine the price or value that their consumers willing to buy it.5.3 Promotion StrategyThere are a few ways to promote the company and its products such as advertising, sales promotion and public relation. Those ways able to show nurture make it clearly to consumers. Furthermore, those ways also able to increase demand and differentiate the products.The company could use advertising as their main components of promotion. Advertising able to spread and present information to people from all strata.The company uses the informative advertising to introducing the new p roduct. Moreover, its objective are verbalise the market about the new product and building company image.5.4 dissemination PatternsThe company initial focus will be in the mainland China Guang Dong market. There are huge populations and demand strong in China. Such a case, the interest for particular brands is stronger than others in some areas. omega and Longines got the top two positions in most Chinese provinces. Besides that, the people who live in Guang Dong have preference for Rolex.5.5 Marketing computer programmeThe company could hold the program that retain quick customers and customer memory board program. So that, this program able to encourage consumers loyalty and build a strong alliance with consumers. This program will uses those social networking to communicate with existing customer and keep updating the information to consumers.6.0 Web Plan SummaryNowadays, Internet has played an of the essence(p) role in the business. Websites became a combat-ready marke ting tool for sales. Websites have the ability to build the connection with customers, connection with market partner and connection with the world around us.6.1 Website Marketing StrategyThe use of E-business in Rolex Company. There are intranet, extranets and internet in E-business. Rolex Company creates intranets to help employees able to communicate and to access the information found in the company computers. Furthermore, company should set up the extranet with their supplier to enable information exchange, payments, transactions and orders.The E-commerce able to provide buyers access to comparative information, competitors, products and information about company. Besides that, company could create a marketspaces to offer buyers their products and services online.By using E-marketing, company can communicate about, sell product and services and promote their product over the internet. Company could create or design an attractive website to attract consumer. Creating a website i s one thing getting people to visit the site is another (Marketing an Introduction sixth edition 2003 p99). The important key is to create a good and enough value to get consumers to come to the site , stick around the site and come adventure again.