Marketing Strategy Essay

Words: 3329
Pages: 14

“Quality Takes Time”

MKT 306

Tutor: Ms. Alison Watson
Due: Monday, January 10th, 2011

Table of Content

1.0 Brief History of Wrist Watch Industry

2.0 Executive Summary

2.1 Rolex Competitors

2.2 Rolex Marketing Tools and Techniques

3.0 Introduction

4.0 Situational Analysis (SWOT)

4.1 Situational Analysis (PESTLE)

5.0 Differential Advantages / Competitive Edge (USP)

6.0 Segmentation Targeting and Positioning (STP)

6.1 Rolex Competitive Positioning

7.0 Market Objectives and Goals

8.0 Marketing Strategies and Programmes (4 P’s)

9.0 Conclusion and Recommendations


1. 0 A Brief History on Wrist Watch Industry
The first wrist watch was invented
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For every series of awards, Rolex gives generous support to 5 Laureates and 5 Associate Laureates in their effort to expand knowledge and improve human life on our planet. The international programme promotes innovative projects in the fields of science, technology, exploration, the environment and cultural heritage.
To maintain its competitive advantage Rolex must employ a combination of marketing techniques and tools. It would be difficult for us to go in-depth with the analysis since we do not have all the details but we do have enough to make a skeletal framework of a marketing plan.

2.1 Rolex competitors: * LVMH Others Swatch Group S.A. TAG Heuer Intern. S.A.
Of all the listed brands, the Swatch Group is recognized as the world’s largest watch manufacturers, occupying the number one position in the industry

Figure 1.0 Watch Industry Brand Market Share

2.2 Rolex Marketing Techniques:
Target marketing: This technique looks at factors such as demographics (age, sex, location, income etc.), psychographics which looks at (personality: introvert/extrovert) and psychological which look at (the impression/feeling customers have towards the product). An assessment of this records and data will help the company to formulate its marketing programme.
Positioning: Rolex continues to create exceptional high quality products. Its position of #1 brand leader must be carefully maintained and managed.