Presented BySai NaveenAvinash ChoudharyAnuj KumarSriram Dvs

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 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.

INTRODUCTION

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

Date just, 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

INNOVATION

1905

HANS 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

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.

HISTORY OF ROLEX

CEO

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.

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

MISSION

• To 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

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 OBJECTIVES

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

MARKETING STRATEGY

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

PRICE RANGE OF COMPETITOR

GrowthIn

Price

Initial level Price

CONCLUSION

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.

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