Presented BySurbhi BhandariReecha PathakGaurav Solanki

INTRODUCTION• Rolex was founded by Hans Wilsdorf and Alfred Davis in London, 1905 , Rolex base

of operations is in Geneva, Switzerland in 1919.• Rolex is the largest single luxury watch brand, producing about 2,000 watches per

day, with estimated 2013 revenues of US$7.4 billion.• Also, Rolex is the most reputable company that exclusively produces a consumer

product.• It employs over 2,800 employee.

Innovation

• The first waterproof wristwatch "Oyster", 1926• The first wristwatch with an automatically changing date on the dial (Rolex

Datejust, 1945)• The first wristwatch case waterproof to 100 m (330 ft) (Rolex Oyster Perpetual

Submariner, 1953)• The first wristwatch to show two time zones at once (Rolex GMT Master, 1954)• The first wristwatch with an automatically changing day and date on the dial (Rolex

Day-Date, 1956)• The first watchmaker to earn chronometer certification for a wristwatch

History Of Rolex

1905HANS WILSDORF• The history of Rolex is inextricably linked to the visionary spirit of Hans Wilsdorf, its

founder. • In 1905, at the age of 24, Hans Wilsdorf founded a company in London specialising in

the distribution of timepieces. • He began to dream of a watch worn on the wrist. Wristwatches were not very precise

at the time, but Hans Wilsdorf foresaw that they could become not only elegant, but also reliable.

GENIUS INFIVE LETTERS

1908

Hans Wilsdorf wanted his watches to bear a name that was short, easy to say and remember in any language, and which looked good on watch movements and dials.

CEO

Jean-Frederic Dufour will be appointed as the CEO of Rolex SA (society anonyme which means "anonymous company") in Geneva.

Mr. Dufour would be replacing Gian Riccardo Marini.

Jean-Frederic Dufour Gian Riccardo Marini

• Many eminent person in the watch industry are familiar with Jean-Frederic Dufour as the CEO of Zenith watches

• He is making the ultimate trip up the ladder to being in a top leadership position at Rolex.

DATEJUST DAY-DATE ROLEX DEEPSEA

GMT-MASTER II LADY-DATEJUST MILGAUSS

Rolex Oyster Collection

SEA-DWELLER 4000 SUBMARINER DATE

SKY-DWELLER YACHT-MASTER YACHT-MASTER II

OYSTER PERPETUAL

Dr. Rajendra Prasad’s Gold Rolex Oyster

• The first president of India, Dr. Rajendra Prasad, owned this watch.

• It was given to him in 1950 during India’s first ever Republic Day.

• The watch features an 18K gold dial with a map of India dated 26 January 1950 inscribed into it.

MISSIONTo manufacture, distribute and service high-quality wristwatches.VISION To continue the long tradition of excellence that the Rolex name represents.OBJECTIVES• Educate the younger market on the value of wristwatches.• Create a social media strategy that will encourage users to interact with the brand as well as extend the message to a larger audience.• Promote the purchase of wrist watches as a “reward” for key successes in a young man’s life.

MISSION, VISION, OBJECTIVES

Market Segment

• The Current Target market for Rolex is wealthy consumers that are looking for high quality and exclusivity.

• The products are created for those who want to show off their wealth. The typical Rolex owner is male and above the age of 35, sometimes a celebrity or sports figure.

• Rolex is an international brand of Swiss watches that is valued all over the world with over 50% of the market residing in the US, Hong Kong, China, France and Singapore.

Cameron Diaz

Roger Federer

MARKETING OBJECTIVES

• Product:The Rolex product will stay very recognizable and relatively unchanged.

• Price: The level at which the watches are priced plays a huge role in the brand's image. For this reason price will remain the same.

• Promotion:Rolex success relies on the continuation of promotions through magazines, newspapers ,selective television programs and prestigious events.

• Place:The purposeful placement of Rolex's authentic dealers in the wealthiest neighborhoods and districts helps to solidify the brands association with excellence.

MARKETING STRATEGY

PROMOTION/CAMPAIGN STRATEGY:Positioning• High-end luxury brand that is the ultimate aspiration of the consumer.• Fashionable alternative to using a cell phone to tell time.• Status symbol.

ADVERTISING:TRADITIONAL MEDIA• Magazine Advertisements- Rolex will place ads in men’s magazines such as Maxim and

GQ. Ads will cater to the target market and attempt to educate them on the value of wristwatches as rewards and alternatives to cell phones to tell time.

• Billboards- Ads will be placed on billboards in major cities, mainly in affluent areas to hit the target market. Both traditional and digital billboards will be utilized.

• Ads at sporting events- Ads will be strategically placed at sporting events that young men attend including, but not limited to, basketball, football and hockey games.

• Sponsorship of music concerts- Rolex will sponsor concerts that are popular with the target market. Ads will be placed throughout the concert venues as well as in the programs. The logo and name will be included all over the concerts promotional

Website A section of Rolex.com will be developed that caters to the target market and conveys the benefits and value of wristwatches.

SOCIAL MEDIA• The website will include links that are prominently displayed on the homepage including Twitter, Facebook and YouTube. The user can then easily connect with Rolex’s social media sites with one simple click.

ONLINE MEDIA

FINANCIAL FORECAST

• Increase daily production by 10%. (An extra 200 watches per day on top of the 2,000 that are already being produced.)

• Increase sales profit percentage to more than the percentage of population growth per year.

Parameters

• New Marketing: Marketing team, financial team, sales teams, public relations, social media team, web development, advertising, event production.• Cost of Goods Sold: Watch materials, shipping, packing, quality control.

SITUATIONAL ANALYSIS Strengths, Weaknesses, Opportunities and Threats

SWOT

Case Study

• Why would Rolex want to sign an endorsement contract with Tiger Woods, a celebrity in crisis with a profoundly negative image? Was his public image destroyed forever? Would he come back on the golf course and in the boardroom? Was this a strategic marketing move for Rolex?

• On October 5, 2011, luxury watchmaker Rolex Corporation executives signed an endorsement deal with Tiger Woods. This deal, the first major sponsorship contract since the Tiger Woods car accident and scandal in November 2009 that led to his admission of marital infidelity and divorce, represented a new beginning for him.

Tiger Woods Now Wears Rolex

• While Tiger Woods had maintained commercial contracts with Electronic Arts, Nike, Upper Deck, NetJets Inc., he lost endorsement deals with AT&T, Accenture and Gatorade.

• The public’s perception of Tiger Woods had changed dramatically. According to Marketing Evaluations, Tiger Woods’ likability appeal (Q score) had been surpassed by feelings of negativity (Baar, 2010).

• Millward Brown, a research agency specializing in brand equity research, tracked public perception of celebrities, and found that before his scandal, only two percent of people surveyed had a negative impression of Tiger Woods.

• In December 2009, 80 percent of those surveyed had a negative impression of him (Helm, 2009).

• The new endorsement deal with Rolex once again included Tiger Woods in the luxury-watch category. Previously, Tiger Woods had endorsed TAG Heuer, the Swiss watchmaker, but the company ended its endorsement agreement with Woods when the contract expired in July of 2011

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Price Range of Competitor

Initial level Price

GrowthIn

Price

Top 50 Most Searched for Luxury Brands (2014)

• This marketing plan summarizes the main points of how Rolex will market their wristwatches to a younger generation than the current target market.

• This expansion will allow Rolex to move into an untapped area that needs education on the value of a high-quality time piece.

• In order to properly address this objective, Rolex needs to update their marketing strategy to include a greater presence in advertisements that target this younger market as well as a strong showing in the social media realm.

CONCLUSION

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