Segmenting and Targeting Markets

                                    Market segment of Rolex                     
  Market segment is a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs. Rolex has segments in major bases: Geographic, Demographic, and Psychographic.

Geographic:

• Rolex market is segmented on the basis of states and regions and market density with wealth.
• Country including China,UK, USA, Singapore, Japan, Australia, Canada, Brazil and others.
• Rolex target developing and semi-urban markets after tapping developed countries.

Demographic:

Schemes are separated for different age and high income groups; Offers special outlets for    premium customers and premium plans for business executives and professionals.

target age 18 and above, all income levels, different ethnic background, different occupation, education, and upper middle class and upper class.

 

Psychographic:

• based on people's lifestyle, personality, beliefs and values etc.
• Believers; literal, loyal, most professionals, executives, aged and Business.
• Experiencers; impulsive, variety seeking, most are young people.