Rolex Brand Audit   “The name of –Rolex is synonymous with quality. Rolex-with its rigorous series of tests that intervene...
Contents   Brand Inventory   Brand Exploration   Recommendations                             1.2
Section 1BRAND INVENTORY                  1.3
Brand Inventory   History   Private Ownership   Product-related attributes   Rolex Brand Portfolio       Tudor   Com...
History   1905: Found in London by Hans    Wilsdorf (German) and William    Davis.   1908: Registered Rolex brand in    ...
History   1926: Developed and patented    Oyster waterproof case and    screw crown against water,    dust and dirt (the ...
Private Ownership   Privately owned company and controlled by    only three people in its 100-year history.   Enabled th...
Product Attributes                “10 Golden Rules”            Waterproof case            Perpetual rotor            Th...
Rolex Brand Portfolio  Oyster Perpetual    Oyster Professional           Cellini• Air-King           • Explorer           ...
Tudor As Fighting Brand               Created in 1946 as a                “fighting brand” to stave                off co...
Communications   Brand Image:       Product’s high quality       Its associations with top        artists, athletes, an...
Pricing   Around $2,500 for the basic Oyster Perpetual    and can reach as high as $200,000.   For each style, prices ca...
Distribution         Not selling online         Only through          approximately 60,000          “Official Rolex Deal...
Section 1BRAND EXPLORATION                    1.14
Contents   Customer knowledge   Sources of Brand equity     Ambassadors     Sports and culture     Philanthropy   Th...
Customer Knowledge   The most powerful and recognized watchmaker in    the world.   Typical consumer brand associations:...
Rolex Mental Map                                                                   • Successful• Watches                  ...
Sources Of Equity   Brand Awareness:       One of the most recognized luxury brands in the world.       Its crown logo...
ROLEX CBBE PYRAMID                                                              Ultimate Social                           ...
Counterfeiting: Threat To Equity   Counterfeiting Rolex watches has become a    sophisticated industry with sales exceedi...
Section 3RECOMMENDATIONS                  1.21
Five Main Areas Of               Opportunities   Introduce new designs   Connect with the female consumer   Attack the ...
Introduce New Designs   Research shows a trend toward more jeweled    watches   Only 7 of Rolex’s sub-brands feature dia...
Connect With Female Customer   Women make the majority of    jewelry and watch purchases ><    Rolex’s image campaign mai...
Attack The Online Counterfeit              Industry   Due to spread of Internet, the problems of    counterfeiting is a b...
Understand How Younger     Consumers Relate To Luxury   How will prestige be    defined in the 21st century?   Will the ...
Communicate Long-term Value   Rolex is an excellent    representation of the ultimate    social status.   Rolex watches ...
To summarize        Points of Parity          Points of Difference   Swiss watch maker          History and heritage   ...
THE END          1.29
Upcoming SlideShare
Loading in …5
×

Sbm 03 rolex_brand_audit

5,199
-1

Published on

0 Comments
5 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
5,199
On Slideshare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
353
Comments
0
Likes
5
Embeds 0
No embeds

No notes for slide

Sbm 03 rolex_brand_audit

  1. 1. Rolex Brand Audit “The name of –Rolex is synonymous with quality. Rolex-with its rigorous series of tests that intervene at every stage-has defined the meaning of quality.” -Rolex.com 1.1
  2. 2. Contents Brand Inventory Brand Exploration Recommendations 1.2
  3. 3. Section 1BRAND INVENTORY 1.3
  4. 4. Brand Inventory History Private Ownership Product-related attributes Rolex Brand Portfolio  Tudor Communications, Pricing and Distribution 1.4
  5. 5. History 1905: Found in London by Hans Wilsdorf (German) and William Davis. 1908: Registered Rolex brand in Switzerland 1910: created a timepiece that was small enough to be worn on the wrist. 1914: Obtained the first Kew “A” certificate after passing the world’s toughest timing test. 1.5
  6. 6. History 1926: Developed and patented Oyster waterproof case and screw crown against water, dust and dirt (the first time in the industry) October 7, 1927: Mercedes Gleitzer swam the English channel wearing an Oyster which functioned perfectly after emerging 15 hours in water. 1931: Created the Perpetual self-winding rotor mechanism eliminating the need to wind the watch 1.6
  7. 7. Private Ownership Privately owned company and controlled by only three people in its 100-year history. Enabled the company to maintain a consistent focus on its core business. 1.7
  8. 8. Product Attributes “10 Golden Rules”  Waterproof case  Perpetual rotor  The case back  The Oyster case  The winding crown  The finest and purest materials  Quality control  Rolex self-winding movement  Testing from the independent Controle Officials Suisse des Chronometres  Rolex Testing 1.8
  9. 9. Rolex Brand Portfolio Oyster Perpetual Oyster Professional Cellini• Air-King • Explorer • Cellinium• Perpetual • Gmt Master II Quartz Date Submariner • Cellissima Datejust Submariner Date Classic Datejust Turn O- Sea Dweller 4000 Danaos graph Yatch-Master Cestello Day-Date Cosmograph Daytona Orchid Lady Datejust 2005 Prince Lady Datejust Pearlmaster 1.9
  10. 10. Tudor As Fighting Brand  Created in 1946 as a “fighting brand” to stave off competition from mid-range watches such as Tag Heuer, Citizen, and Rado.  Tudor has a range of family brands, namely Price, Princess, Monarch, and Sport. 1.10
  11. 11. Communications Brand Image:  Product’s high quality  Its associations with top artists, athletes, and explorers.  Enhanced by its exclusivity, with premium prices and limited distribution  Advertisements: mainly print ads  Sports and events sponsorship 1.11
  12. 12. Pricing Around $2,500 for the basic Oyster Perpetual and can reach as high as $200,000. For each style, prices can vary by $2,000 - $12,000 depending on materials used. 1.12
  13. 13. Distribution  Not selling online  Only through approximately 60,000 “Official Rolex Dealers” worldwide. 1.13
  14. 14. Section 1BRAND EXPLORATION 1.14
  15. 15. Contents Customer knowledge Sources of Brand equity  Ambassadors  Sports and culture  Philanthropy The Customer Base Brand equity Pyramid (CBBE) Counterfeiting: threat to Equity 1.15
  16. 16. Customer Knowledge The most powerful and recognized watchmaker in the world. Typical consumer brand associations:  Sophisticated  Prestigious  Exclusive  Powerful  Elegant  Snobby  Flashy  High quality 1.16
  17. 17. Rolex Mental Map • Successful• Watches Image • Luxury• Expensive • Classic• Precise Performance• Gold/Platinum• Crown Logo• Exceptional • Wimbledon customer • Golf Sports • Sailing service • Championship athletes• Older• Top Athletes People• High-class • Counterfeited and sold on• Masculine the street Negative • Frivolous purchases • Flashy and pretentious Rolex Brand Mantra Classic Designs, Timeless Status 1.17
  18. 18. Sources Of Equity Brand Awareness:  One of the most recognized luxury brands in the world.  Its crown logo Brand Image:  Functional benefits: quality, craftsmanship, innovation  Emotional benefits: Exclusive status symbol, self- expressive to the user.  Others: Ambassadors, Sports & Culture, and Philanthropy,.. 1.18
  19. 19. ROLEX CBBE PYRAMID Ultimate Social Status • Extremely loyal customer, high repeat purchase rate. • Much affiliation & attachment Resonance • Part of elite society Extremely Quality Exclusive & Self- • The best watches in the rewarding world Judgments Feelings • Feelings of success and • Maximum quality, high social status innovation and design • Special approval and self-respect Luxury Product Classic &• Handcrafted timepiece of Achievement Image premium materials Performance Imagery • Elite luxury image • Perpetual self-winding through sports & cultural technology ambassadors • Official Crown logo • Status symbol • Exceptional customer • Classic heritage service • Holds value well Brand Salience HIGH AWARENESS • Most commonly recalled luxury watch in the world • More depth and breath
  20. 20. Counterfeiting: Threat To Equity Counterfeiting Rolex watches has become a sophisticated industry with sales exceeding $1.8 billion per year. Counterfeiting damage the company’s brand equity and present a huge risk to the brand. Rolex sponsors the International Anti- Counterfeiting Coalition and suing companies that allow the sale of counterfeiting Rolexes. 1.20
  21. 21. Section 3RECOMMENDATIONS 1.21
  22. 22. Five Main Areas Of Opportunities Introduce new designs Connect with the female consumer Attack the online counterfeiting industry Understand how younger consumers relate to luxury Communicate long-term value 1.22
  23. 23. Introduce New Designs Research shows a trend toward more jeweled watches Only 7 of Rolex’s sub-brands feature diamond watches => Rolex can increase the ratio of jeweled watches. Consider partnering with well-known designers with limited edition watch that freshens the brand and creates a buzz. 1.23
  24. 24. Connect With Female Customer Women make the majority of jewelry and watch purchases >< Rolex’s image campaign mainly emphasizes males. Rolex should consider more female ambassadors of elite status, sponsor female-attended sport events increase the ratio of jeweled watches (ice-skiing, equestrian, golf, etc.) Only 6 of Rolex’s 22 sub-brands geared specifically for women => Rolex can increase the ratio of female-only watches 1.24
  25. 25. Attack The Online Counterfeit Industry Due to spread of Internet, the problems of counterfeiting is a bigger threat than ever before. Rolex may consider building an exclusive online store or an exclusive distribution site. 1.25
  26. 26. Understand How Younger Consumers Relate To Luxury How will prestige be defined in the 21st century? Will the same formula “work” for the millennial generation as they age and move into the Rolex target market? The current tastes of many younger consumers who are already in the market for Rolex watches? 1.26
  27. 27. Communicate Long-term Value Rolex is an excellent representation of the ultimate social status. Rolex watches more durable, resale value and timeless than other luxury items such as handbags, clothes, shoes. Communicate “heirloom” quality 1.27
  28. 28. To summarize Points of Parity Points of Difference Swiss watch maker  History and heritage Durable  Crown Fine materials  Exclusive Imagery Quality craftsmanship  Premium price Accurate  Innovation Attractive  Distribution 1.28
  29. 29. THE END 1.29
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×