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Hans wilsdorf and rolex
- 1. Hans Wilsdorf andRolex Case Study By: Name Student Id Motiur Rahaman 12274035 Hasan Bashir 13274022 Md. Saeed Jamil 12274024 S.M. Khurshadur Rahman 12374021 Arafat Mizan 12164020 Mozahedul Islam 12274002 Sanjoy Kumer Saha 12274011
- 2. Agenda 1. Caseintroduction 2. Background of the study 3. Identification of issues/problems 4. Analysis of the issues/problems 5. Recommendations for solution 6. Future comments (Thinking out of the box) 7. Conclusions 8. Question & Answer
- 3. Introduction Founded by Hans Wilsdorf & his brother in law Alfred Davis In 1905, In London Hans Wilsdorf neither a swiss nor a watch maker 1908 Registered the trademark “ROLEX” 1919 Company Moved to Switzerland 1926 Next Generation of ROLEX was born, The Rolex Oyster Middle of 16th century watch making introduce in Switzerland by Huguenots (French Refugee) During 1840 Swiss watch industry surpassed the British & American watch industry
- 4. Background of thestudy Aquariums in retailers window Swiss Alpinist team Celebrity endorsements (Pau Newman, mercedex as channel crossing, Roger Ferderere) 1933 Self winding perpetual wristwatch 1930 Swiss water polo 1925 Crown as brand monogram 1925 Oyster Rolex 1916 Rolex moved to Bienne, Switzerland 1910 Chronometer Certificate awarded 1908 Rolex trademark registered R O L E X “It does not only tell time, it tells history”
- 6. Identification of issues • Problems during First World War • Demographic segmentation • Design • Lower priced sub brands • Swiss made • Counterfeit products • Competitors
- 7. Analysis of issuess Problem during ww-1 - British Govt. levied 33% tax on watch related imports - German sounding name became unpopular Demographic segmentation - High level income - Male consumers Style & design limitation - limited designs * traditional designs * lack of uniqueness
- 8. Analysis of issues Lower priced sub brands - Marconi, Omigra & Rolco were launched - Had to drop the lines because of the failure Swiss made - 50% of the components of the movements need to be manufactured in Switzerland -Entry in lower end segment were impossible
- 9. ANALYSIS OF issues Counterfeit watches - Rolex counterfeit watches are very cheap - Lookalike Rolex - Available in abundant Competitors - Omega, Cartier, Patek Philipe
- 10. Identification & Analysisof Issues • Accuracy of the wrist watch – Customers forgot to return the stem – Perpetual • The Great Depression- ‘Rolex Prince’ • Cell phone is replacing the need of wrist watch
- 11. SWOT – ROLEX 2.10 • Strong Brand • Swiss made • Customer loyalty • Market leadership • Unique products • High R&D • Innovation ● High switching cost ● Style limitation ● Not accessible to all ● Younger generation views watch as commodity not status symbol, due to cell phone ● Myopic Management Strength Weakness ● Expansion of luxury brand ● Development of effective social media campaign ● Educating younger market segment to create future potential buyer ● Recession ● Counterfeits ● High-end competition ● Cell phone & similar products Opportunity Threat
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- 13. Recommend ation Customer segment Product / Service Channel Geo-graphy Solution scope Ladies Young New Design Online facility for guaranteed products Emerging/New Economy
- 14. Future Comments RolexBrand Concept More a prestige brand than a functional brand Market leader in watch industry for more than 109 yrs with single product But considering the other competitors and new market trend, Rolex should go for “Brand Extension”
- 15. Future comments Theglobal market for luxury goods was valued at USD 296.15 billion in 2013 and is expected to reach USD 374.85 billion in 2020, growing at a CAGR of 3.4%from 2014 to 2020 Watch, 1.10% Hotels, 1.80% Jewelry, 6.00% Fashion, 14.90% Beauty, 22.70%
- 16. Future Comments •Expected luxury sunglasses market would be $20 billion by 2017 • Perfume market in 2017 is expected $45.6 billion • Mont Blanc, Carties and other luxury brands are expecting a huge growth in upcoming years • Indian luxury brand worth 400 crore Rs. is expected to double in next year • Luxury cuff link, scarf and neck-ties market is expected growth in coming years
- 17. Conclusion • Updatethe marketing strategy to include better presence targeting young market segment through social media • Rolex has long tradition of creating the standard for luxury in wrist watches. By adding a new segment of population to their consumer base and ensure that they continue their standard of excellence.
- 19. Thank you for attention!