Case study on rolex

WATCHES COMPANY ROLEX

1. Presented By:- MEET SHAH (51)

2. 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.

3. 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

4. History Of Rolex HANS WILSDORF In  1905, at the age of 24, Hans Wilsdorf founded a company in London specializing 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.

5. IN 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.

6. DATEJUST DAY-DATE ROLEX DEEPSEA GMT-MASTER II LADY-DATEJUST MILGAUSS Rolex Collection

7. SEA-DWELLER 4000 SUBMARINER DATE SKY-DWELLER YACHT-MASTER YACHT-MASTER II OYSTER PERPETUAL

8. 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.

9. MISSION :- To manufacture, distribute and service high-quality wristwatches . VISION :- To continue the long tradition of excellence that the Rolex name represents . MISSION, VISION, OBJECTIVES

10. 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.

11. 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 . Cameron Diaz Roger Federer

12. 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.

13. 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.

14. 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.

15. Hans Wilsdorf Foundation Rolex SA is owned by the private Hans Wilsdorf Foundation, which is registered as a charity and does not pay corporate income taxes. In 2011, a spokesman for Rolex declined to provide evidence regarding the amount of charitable donations made by the Wilsdorf Foundation. Its owned by an foundation or charity not by any private owner so it is non profitable foundation as they use these money for development of company and to pay salaries of worker.

16. SWOT ANALYSIS S W O T

17. Price Range of Competitor Initial level Price Growth In Price

18. 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

19. Thank You