Rolex Branding

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Presented by Jeannine Komonosky Long Le James E. Salter
Copyright © 2005 SalterQuest.com. All Rights Reserved.

Introduction
• Watch Industry • Key Brand Components • Current Brand Strategy • Image Associations • Perceptual Map • Competitive Position • Industry Analysis • Opportunities & Threats • • • • Strengths Weaknesses Brand Report Card Revised Branding Goal and Strategy • Revised Brand Messaging

Copyright © 2005 SalterQuest.com. All Rights Reserved.

Watch Industry
• History – Industry Grew up in Geneva – Swiss Watches have a Worldwide Reputation for Quality • Technological Developments – Mechanical Watches have 100 to 130 components – Light-emitting diodes (LED) – Liquid Crystal Display (LCD) – Quartz Analog • Brands now Compete on: – Features – Product Attributes – Positioning Copyright © 2005 SalterQuest.com. All Rights Reserved.

Key Brand Components
• Early Publicity Advantages • Branding Challenge • Importance of Marketing • Role of Collectable Copyright © 2005 SalterQuest.com. All Rights Reserved.

Current Brand Strategy
• Early Brand Strategy • Current Brand Strategy

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Image Associations
Corporate Success Symbol Swiss Made Luxury Market

Prestige Sports

Wealth in Travel

The World of Rolex Luxury Adventure James Bond 007

Disposable Income
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Perceptual Map
Prescious Stones Expensive Having It All Craftsmanship Wealth Affluence Quality Design Durability Prescious Metals

New

Conservative

Status

Time-honored Dress

Innovation

First

Rolex
Traditional Classy Sport Accuracy Functionality

Competitive Outdoors Winning Accomplished Cutting Edge Cool Sharp

Precision

Stylish

Adventure Worldliness

Daring

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Competitive Position
• Market Segmentation • Types of Wealthy Consumers • Rolex

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Industry Analysis
• Industry Five Forces • Omega • Citizen • Jaeger-LeCoultre • Movado

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2001 Annual Sales ($ millions)
2001 Annual Sales ($ millions)
30,000 25,000 20,000 15,000 10,000 5,000 0 Rolex Omega Citizen JaegerLeCoultre Movado 209 1,050 152 321 25,840

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Competitor Watch Brands - Market Share Snapshot $160,000 $140,000 JLC: $152 $120,000 $100,000 Average Retail Sales Price

$80,000 $60,000 $40,000 $20,000 Citizen: $1,050 $0 0 -$20,000 Style/Aesthetics/Quality 1 2 3

Rolex: $25,840

Omega: $209 Movado: $321 4 5 6

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Opportunities & Threats
• Expansion of Luxury Brands • Maintain Exclusivity of Brand • Desirability Diminished Relative to other Luxury Brands • Lower Price Levels • Market Share Snapshot

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Strengths
• Quality • Commitment to Excellence • Reputation • Manage demand • Swiss-Made • Mechanical Movement • Advertising Copyright © 2005 SalterQuest.com. All Rights Reserved.

Weaknesses
• Style limitations • High price limits market • Technology is not accurate • Myopic Management Copyright © 2005 SalterQuest.com. All Rights Reserved.

Brand Report Card
Brand Report Card Attributes Score Rating of Importance Prioritization

Delivering on Customers’ Desires

2

2

2

Relevance Value Positioning Portfolio Integrated Marketing Activities

4 4 3 1 5

4 5 3 1 7

5 7 3 1 8

Management Support and Monitoring

2 3

6 3

6 4

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Revised Branding Goal
• Reserve Rolex as Elite Brand • Product Diversification • Proposed Umbrella Branding Copyright © 2005 SalterQuest.com. All Rights Reserved.

Umbrella Branding Strategy
Brands by Rolex Price Range Consumer Image Representative Rolex > $20,000...
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