The Marketing Environment

                            The Marketing Environment  of Rolex

  ROLEX are building a brand image as an icon of beauty, quality, accuracy, style, and taste. ROLEX choose business class people who are upper class as their target consumers and give superior service to these selective customers. Recent years, ROLEX focus to continuously improve their product and services to satisfy customers wants and needs and to increase the company's perceived value.

The external environment

Political factors: the relevant government policies affects the business environment of Rolex, such as Tax policy, labor law, minimum wages law etc.

Economic factors: Inflation, Gross National Income, Gross Domestic Product etc, these macro economic factors affect the business of Rolex.

Technological factors: the rapid changes of people measuring the time from wrist watches to computers and smart phone decreases the share market of Rolex (Rolex seen as style accessories today).

Competition of the marketing.

  Even though Rolex is still the leading brand in the competition in the marketplaces, Rolex need to face a huge competition.

Rolex stand out from the other watches brand due to its effect on emphasizing on its accuracy, quality, design and all proof.

Market segmentation:

  target markets:   ~18+ and above

                     ~young  aged people

                            ~matured age groups

                            ~ Aristocrats

                           ~ professionals

                            ~businessmen

                            ~travelers.

   Geographic segmentation 

    It is divided on the basis of states, region and market diversity with wealth.

    main countries has China, USA, UK, Canada, Hong kong, Singapore, Australia, South Africa etc.

    After tapping developed countries, they, then, target developing countries.

Ethics & Social Responsibility

                 Social Responsibility of Rolex       

  
  Since 1976, Rolex has honoured extraordinary 

individuals who possess the courage and conviction to take 

on major challenges. Each Rolex Award for Enterprise is 

given for a new or ongoing project anywhere in the world – 

one that deserves support for its capacity to improve lives, 

or protect the world’s natural and cultural heritage. These 

projects have touched all aspects of humanity by 

expanding knowledge or improving life on the planet. 

Rolex – the quiet philantropist

  

  Upon the death of his wife in 1944, he established the Hans Wildorf Foundation in which he left all of his shares in Rolex, making sure that an amount of the company’s income would go to charity. Today the company remains a private (estimated annual revenues of $3 billion), contributing over 50% of its profits to the foundation. Wilsdorf died in Geneva on July 6, 1960.

 As one of the top two philantropist organisations in Europe, the Hans Wilsdorf Foundation supports the arts, cultureAs, education helping build sports and educational facilities for schools, theatres, literature,architecture and others. They have also supported NGOs to secure and defend childrens’ rights in African countries such as Ethiopia and Senegal.

The Rolex Institute was created to further the company’s philanthropic programmes:

The Rolex Awards for Enterprise recognises pioneering men and women around the world who work to improve life on our planet; and advancing human knowledge and well‐being in the areas of science, technology, exploration, the environment and cultural heritage. Since the Awards were initiated, 110 Rolex Awards have been presented to receipients in more than 60 countries.

The Rolex Awards for Enterprise: Young Laureates Programme funds five young pioneers between 18 and 30 to deploy their ideas to solve tomorrow’s challenges in science and health, applied technology, exploration, the environment and cultural preservation.

      

The Rolex Mentor and Protégé Arts Initiative seeks out extremely talented young artists in dance, literature, music, film, theatre and visual arts, and brings them together with great masters in their respective fields for a year of creative collaboration in a one‐to‐one mentoring relationship. Since its inception, 234 people, from more than 40 countries, have participated in the Rolex Arts Initiative.

              

Strategic Planning for Competitive Advantage

                                                      Rolex 's Strategic Planning    

Overview of Marketing (Brief History and Mission Statement)

                                History of Rolex

                          HANS WILSDORF              

  1905
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.

 To convince the public of the reliability of his resolutely innovative timepieces, he equipped them with small, very precise movements manufactured by a Swiss watchmaking company in Bienne.

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.

  He said, “I tried combining the letters of the alphabet in every possible way. This gave me some hundred names, but none of them felt quite right. One morning, while riding on the upper deck of a horse-drawn omnibus along Cheapside in the City of London, a genie whispered ‘Rolex’ in my ear.”

1910

THE QUEST FOR CHRONOMETRIC PRECISION

  Rolex first concentrated on the quality of the movements. The relentless quest for chronometric precision rapidly led to success. In 1910, a Rolex watch was the first wristwatch in the world to receive the Swiss Certificate of Chronometric Precision, granted by the Official Watch Rating Centre in Bienne.

  Four years later, in 1914, Kew Observatory in Great Britain awarded a Rolex wristwatch a class “A” precision certificate, a distinction which until that point in time had been reserved exclusively for marine chronometers. From that date forward, the Rolex wristwatch was synonymous with precision.

1919

  

GENEVa

  Rolex moved to Geneva, a city renowned internationally for watchmaking. Montres Rolex S.A. was registered in Geneva in 1920.

THE STORY CONTINUES...