Rolex Branding

8/6/2019 Rolex Branding

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Copyright 2005 SalterQuest.com. All Rights Reserved.

Presented by

Jeannine Komonosky

Long Le

James E. Salter


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IntroductionIntroduction StrengthsStrengths

WeaknessesWeaknesses

Brand Report CardBrand Report Card Revised BrandingRevised Branding

Goal and StrategyGoal and Strategy

Revised BrandRevised Brand

MessagingMessaging

Watch IndustryWatch Industry

Key BrandKey BrandComponentsComponents

Current BrandCurrent BrandStrategyStrategy

Image AssociationsImage Associations

Perceptual MapPerceptual Map

Competitive PositionCompetitive Position

Industry AnalysisIndustry Analysis

Opportunities &Opportunities &ThreatsThreats


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History

Industry Grew up in Geneva Swiss Watches have a

Worldwide Reputation forQuality

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


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Key Brand ComponentsKey Brand Components Early Publicity

Advantages

BrandingChallenge

Importance of

Marketing

Role of Collectable


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Current Brand StrategyCurrent Brand Strategy Early Brand

Strategy

Current BrandStrategy


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Disposable Income

James Bond 007

Wealth in Travel

Luxury Market

Luxury Adventure

Prestige Sports

Swiss Made

Corporate Success Symbol

The World of Rolex


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Rolex

Quality

Sport Accuracy

Innovation

Design

DurabilityCraftsmanship

First

New

Functionality

Precision

Sharp

CoolOutdoors

Affluence

Status

Traditional

Classy

Time-honoredDress

Cutting Edge

Competitive

Daring

Accomplished

Winning

Conservative

Wealth

HavingIt All

Expensive

Prescious Stones

Prescious Metals

Stylish

Adventure

Worldliness


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Competitive PositionCompetitive Position Market

Segmentation

Types ofWealthyConsumers

Rolex


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Industry AnalysisIndustry Analysis Industry Five

Forces

Omega Citizen

Jaeger-LeCoultre

Movado


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2001 Annual Sales ($ millions)2001 Annual Sales ($ millions)

25,840

209 1,050 152 321

0

5,000

10,000

15,000

20,000

25,000

30,000

Rolex Omega Citizen Jaeger-

LeCoultre

Movado

2001 Annual Sales ($ millions)


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Competitor Watch Brands - Market Share Snapshot

Rolex: $25,840

JLC: $152

Citizen: $1,050

Movado: $ 321

Omega: $209

-$20,000

$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

$140,000

$160,000

0 1 2 3 4 5 6

Style/Aesthetics/Quality

AverageRetailSalesPric

e


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Opportunities & Threats Expansion of Luxury

Brands

Maintain Exclusivity ofBrand

Desirability DiminishedRelative to other LuxuryBrands

Lower Price Levels

Market Share Snapshot


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Strengths Quality

Commitment to

Excellence Reputation

Manage demand

Swiss-Made

Mechanical Movement

Advertising


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Weaknesses Style limitations

High price limits

market Technology is not

accurate

Myopic

Management


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Brand Report CardBrand Report Card

433Support and Monitoring

662Management

875Integrated Marketing Activities

111Portfolio

333Positioning

754Value

544Relevance

222Delivering on Customers Desires

PrioritizationRating of ImportanceScoreBrand Report Card Attributes


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Revised Branding Goal

Reserve Rolex asElite Brand

ProductDiversification

Proposed

Umbrella

Branding


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Umbrella Branding Strategy

The Crocodile HunterWild, SportyMiddle Money$500-2,000Luxury-Low

Safari Line

MadonnaGeneration XNew Money$2,000-5,000Luxury-High

Revolution,Freedom

WhoopiGoldberg

BohemianNew Money$5,000-10,000Premium-Low

Vibe, Eclipse,Pagea

Vienna Opera House ImageThe ClassicsNeo-Renaissance

Romance

Old MoneyMillennium Money

$10,000-20,000Premium-High

Romeo & Juliet

James BondPrestigeOld Money

Millennium Money

> $20,000

Ultra-Premium

Rolex

RepresentativeImageConsumerPrice RangeBrands by Rolex


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Revised Brand Messaging Product

Brand Attributes

Brand Value Marketing

Pricing

Distribution

Positioning Promotion


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ReviewReview StrengthsStrengths

WeaknessesWeaknesses

Brand Report CardBrand Report Card Revised BrandingRevised Branding

GoalGoal

Umbrella BrandingUmbrella Branding

StrategyStrategy Revised BrandRevised Brand

MessagingMessaging


Key BrandKey BrandComponentsComponents

Current BrandCurrent BrandStrategyStrategy



Competitive PositionCompetitive Position

Industry AnalysisIndustry Analysis

Opportunities &Opportunities &ThreatsThreats


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ConclusionRolex should introduce separate product lines with

different brand identities under the Rolexumbrella

Documents

Rolex Branding