Rolex's marketing plan aims to target a new younger market segment of males aged 21-35. It proposes a promotion strategy using traditional, online and social media advertising to position Rolex as a status symbol and alternative to cell phones. The plan outlines objectives to educate younger consumers on watch value and create an interactive social media presence. It provides an action timeline to launch new ads and online/social media accounts between 2013-2014. The financial forecast predicts increased watch production and sales profits above population growth rates.
This is an assignment give in a marketing management class. The company is rolex. It helps us to understand how a marketing plan of a firm should look like.Marketing strategy and 4 p's of marketing is highlighted here.
ROLEX is always been a brand which we would desire to have on our wrist !
This presentation would give u all idea about how ROLEX has kept its MONOPOLY Luxury Watch Segment !
This presentation will give you idea how a brand like ROLEX plans, executes and achieve !
This is an assignment give in a marketing management class. The company is rolex. It helps us to understand how a marketing plan of a firm should look like.Marketing strategy and 4 p's of marketing is highlighted here.
ROLEX is always been a brand which we would desire to have on our wrist !
This presentation would give u all idea about how ROLEX has kept its MONOPOLY Luxury Watch Segment !
This presentation will give you idea how a brand like ROLEX plans, executes and achieve !
Tasked with performing a consumer social media comparative brand audit to understand how social media marketing was being used in the Luxury Goods market.
The audit's objective was to compare select aspirational Brands and to qualify the level of strategic use, execution and success each may be experiencing.
Tasked with performing a consumer social media comparative brand audit to understand how social media marketing was being used in the Luxury Goods market.
The audit's objective was to compare select aspirational Brands and to qualify the level of strategic use, execution and success each may be experiencing.
For this extra credit assignment, you will need to watch the .docxAKHIL969626
For this extra credit assignment, you will need to watch the
following 2-hour documentary:
https://ucsc.kanopy.com/video/web-du-bois
(Links to an external site.)
Links to an external site.
Please write a 2-page (500-700 words) film review. This should
NOT be just a summary of the film; instead, you should critically
engage with it as a historical text. Some questions you might
consider include: What are the major points the film is making
about Du Bois's life? To what extent is it successful in providing
insight into the intersection between his life experiences and his
scholarly and activist work? How is he perceived by the people
around him? How does the presence of each of the four different
narrators change the emotional timbre of the film? Does one
narrator resonate more with you than others? What surprised you
about Du Bois's life? What did you learn that helps you place his
work into the context of Classical Theory?
https://ucsc.kanopy.com/video/web-du-bois
https://ucsc.kanopy.com/video/web-du-bois
https://ucsc.kanopy.com/video/web-du-bois
Strategic Planning of Rolex
Group members: Siyu Wang, Yijing Yuan, Xian Huang, Muhannad Abdulaal, Alhanouf Alfarraj, Dewen Sun
Table of Contents
- Introduction and objectives
- Target market
- Analysis of brand’s Competitive Environment
- SWOT analysis
- Analysis of each Marketing Mix (Price, Place, Product and Promotion)
- Conclusion
- Appendices
Introduction and Objectives
Rolex is a famous watch manufacturer in Switzerland, formerly known as Wilsdorf and Davis, a company that is mainly responsible for selling watches, which was operated together by a German Hans Wilsdorf and a British Alfred Davis in 1905. In 1908, this company was registered and changed the name to ROLEX by Hans Wilsdorf in La Chaux-de-Fonds in Switzerland. The first sign of the Rolex watch is a palm with five fingers stretched out, which means that the brand's watch is entirely crafted by hand. Later it gradually evolved into a registered trademark of Crown to show its dominance in the field of watches. From the 70’s to present day, Rolex continues in the words of Patrick Heiniger, that “Rolex is evolutionary not revolutionary.” Today, Rolex produces approximately 2000 watches a day and is consistently ranked in the top 100 global companies and now in the international market, the price of an ordinary Rolex watch ranges from $1,000 to $15,000. Although it is expensive, people still think that it is worth the money. This is not only due to the excellent quality of Rolex, but also because of its unique investment value. So I want to talk why we choose this brand.
First, the accuracy of the watch is high, and the design is stable, elegant, applicable, and unobtrusive. Also, the production process has undergone strict quality control and has a spirit of excellence. Next, this brand has the spirit of exploration, they se ...
Social media monitoring SWISS WATCHES BRANDSArmanda Nessi
Are you interested in knowing more about luxury watches brands and their presence in social media? Have a look at my report and feel free to download it! Thank you for sharing!
This is a report that has been created by a group of international Master in Marketing students of the Università della Svizzera italiana for the Digital Marketing course. The intention was to evaluate the social media performance of three Swiss brands in the luxury watch industry; create a report and promote it on the Web 2.0. We hope you enjoy reading it and we are awaiting your comments, critics, suggestions etc.
Thank you very much.
Retail Management project choosing a selected store of our choice and analysing it in order to propose new ideas to better it so that it can compete alongside it's competitors
Integrated Marketing Communication Plan for Folli Follie Spyros Langkos
As Gabrielle Coco Chanel once mentioned: “Luxury is a necessity that begins where necessity ends”
This study concentrates on the integrated marketing communications plan of the Greek company Folli Follie (personal luxury products retailer) and how it is implemented across international culture: the expansion in China.
This report was created to point out the mixed marketing communications plan for Folli Follie, in order to strengthen the FF Group reputation and motivate the end-user confidence.
Key factors for this communication are International Culture and Access to Global Market. We choose to focus on these two topics, because international employees and customers need more guidelines on these specifics.
International Culture: raise awareness upon cultural differences and increase diversification rates.
Access to Global Market: to expand the awareness of the impact of the Global Environment in new emerging markets.
The guidelines include:
- Branding: create & use consistent message and image
- Efficiency: create re-usable content & high impact channels,such as a multimedia website and social media
- Data metrics: plan activity measurements & future decision making data.
The Goals of this plan form from three levels:
1) Strengthen the reputation of Folli Follie
2) Attract new customers and enhance satisfaction
3) Create engagement and positive industry buzz (word of mouth)
The purpose of this plan is to support the practices, policies and the action plan of the Folly Follies Group and relate them with the business goals and vision, in order to raise awareness, loyalty and customer relationship.
This report strongly recommends the enhance of the company’s recent global campaign theme “ What are you crazy for? ”, based on the results of the situation analysis.
The primary targets of this communications are the Chinese youth, the international employees of the group and the Chinese post-modern woman & man. Secondary targets are China’s major cities, fashion shows, local agencies.We have investigated the possible launch of the Folli Follie in China, where we will try to combine the Folli Follie’s “way of doing” with the local Chinese market.
Our mission therefore, is to successfully introduce the brand, while paying attention to the Chinese needs and expectations.
History and achievements of the company:
Folli Follie is a Greek company which designs, manufactures and distributes jewelry, watches and fashion accessories. The company offers assortments in fashion accessories such as handbags, small leather goods, belts and sunglasses. Following a philosophy of affordable, fashionable luxury, the exclusively designed pieces add breadth to the company’s identity and are now globally recognized amongst accessories brands. Folli Follie established itself as a pioneer in the market when it introduced, amongst its first collections jewelry creations made of silver combined with murano g
NEW VIDEO CODE OF CONDUCT IN LUXURY MARKETINGOMD EMEA
Five years ago, the luxury industry was reluctant to be social. However, in recent years, big luxury brands have been shifting their ad spend to digital channels and we are now seeing print trends like the ‘September Issue’ emerge across social video.
The Ultimate Fashion Career Guide: Discover how your skills and interests ali...Yellowbrick1
The fashion industry is the business around apparel: fashion design, manufacturing, marketing, and retail. With the fashion industry expanding as quickly as it has, career possibilities in fashion are growing. What are those positions and how do you get started?
Since the turn of the century, designer fashion brands have ceded ground to sportswear, lingerie, and denim companies, as well as brand retailers. These brands, retailers, and e-commerce brands offer more affordable products manufactured on a mass scale, providing more accessibility to a broader demographic of consumers, known as fast fashion.
Nike has solidified itself as a significant force in the global sports apparel market that generated around $191 billion in 2022. In 2021, the global denim fabric market was valued at approximately $18.1 billion. The global lingerie retail market was valued at $43.2 billion in 2020, and is forecast to reach a value of $84.2 billion in 2028. In its entirety, the global apparel market was worth more than $1.5 trillion in 2022.
To help you determine and achieve your fashion industry career goals, we have created this comprehensive guide. Yellowbrick’s Ultimate Fashion Career Guide is your source to discover job opportunities and learn entry points into the fashion industry. In this guide, you can begin to explore the jobs that drive the market, then search for your perfect career by area of interest, skills, companies, or industry experts.
Learn about your skills and interests, and articulate them confidently to identify career options within the industry that you might pursue. Then implement a successful strategy to attain your desired career outcomes.
In this guide you’ll find the following information:
• Overview of the fashion industry
• Future of the fashion market
• Fashion Career Library
• Career Planning Strategy to get into the fashion industry
You’ll also find simple exercises that help you:
• Form a career planning strategy to get into the fashion industry
• Find your passion in fashion and identify an area of interest to pursue
• Learn the fashion industry through top studios and its key players
• Identify your skills and match them to a fashion area of interest
Looking to learn more about the fashion industry as a whole, the opportunities in fashion, or build the skills you need? Explore our Fashion Industry Essentials course featuring Parsons School of Design and Teen Vogue to learn the ins and outs of the fashion industry while building your expertise in visual style, portfolio design, fashion production, and fashion marketing and public relations.
The Ultimate Fashion Career Guide: Discover your skills and interests to help...Rob Kingyens
The Ultimate Film Career Guide
Discover your skills and interests to help you determine and achieve your film career goals.
The United States box office revenue grew from $10 billion dollars in 2012 to $11.3 billion in 2021. China was the largest box office market in the world in 2020. The U.S. and Canada ranked second with Sony Pictures leading the way behind a domestic box office gross of $500 million dollars. With that type of economic growth, the business side of film has had to change drastically to keep pace. There are more people involved in making a film, with jobs delegated between pre-production, production, and post-production. What are those film careers and how do you get started?
To help you determine and achieve your career goals, we have created this comprehensive career guide. Yellowbrick’s Ultimate Film Career Guide is your source to discover jobs in film and learn entry points into the film industry. In this guide, you can begin to explore the jobs that drive the market, then search for your perfect career by area of interest, skills, companies, or industry experts.
Learn about your skills and interests, and articulate them confidently to identify film career options within the industry that you might pursue. Then, implement a successful strategy to attain your desired outcomes.
In this guide you’ll find the following information:
• Overview of the film industry
• Future of the film market
• Film Career Library
• Career Planning Strategy to get into the film industry
You’ll also find simple exercises that help you:
• form a career planning strategy to get into the film industry
• find your passion in film and identify an area of interest to pursue
• learn the film industry through top studios and its key players
• identify your skills and match them to a film area of interest
Whether you’re a novice, a student, or a professional, you can further your career path through this guide that will help you begin understanding opportunities available in the film industry, as well as the skills and qualifications you need to succeed.
Social media is not a gadget, it is becoming the most powerful marketing and sales tool and you must leverage it to create value for your business. This study gives you a frame to build and improve your social media strategy, going through case studies and best practices. I would be very happy to read your comments, to answer your questions and, above all, to have your inputs to enhance the interest of this study with a conversational approach. I wish you a good reading, I am looking forward to read you too!
Short video marketing has sweeped the nation and is the fastest way to build an online brand on social media in 2024. In this session you will learn:- What is short video marketing- Which platforms work best for your business- Content strategies that are on brand for your business- How to sell organically without paying for ads.
SMM Cheap - No. 1 SMM panel in the worldsmmpanel567
Boost your social media marketing with our SMM Panel services offering SMM Cheap services! Get cost-effective services for your business and increase followers, likes, and engagement across all social media platforms. Get affordable services perfect for businesses and influencers looking to increase their social proof. See how cheap SMM strategies can help improve your social media presence and be a pro at the social media game.
Core Web Vitals SEO Workshop - improve your performance [pdf]Peter Mead
Core Web Vitals to improve your website performance for better SEO results with CWV.
CWV Topics include:
- Understanding the latest Core Web Vitals including the significance of LCP, INP and CLS + their impact on SEO
- Optimisation techniques from our experts on how to improve your CWV on platforms like WordPress and WP Engine
- The impact of user experience and SEO
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.\
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
Everyone knows the power of stories, but when asked to come up with them, we struggle. Either we second guess ourselves as to the story's relevance, or we just come up blank and can't think of any. Unlocking Everyday Narratives: The Power of Storytelling in Marketing will teach you how to recognize stories in the moment and to recall forgotten moments that your audience needs to hear.
Key Takeaways:
Understand Why Personal Stories Connect Better
How To Remember Forgotten Stories
How To Use Customer Experiences As Stories For Your Brand
Come learn how YOU can Animate and Illuminate the World with Generative AI's Explosive Power. Come sit in the driver's seat and learn to harness this great technology.
First Things First: Building and Effective Marketing Strategy
Too many companies (and marketers) jump straight into activation planning without formalizing a marketing strategy. It may seem tedious, but analyzing the mindset of your targeted audiences and identifying the messaging points most likely to resonate with them is time well spent. That process is also a great opportunity for marketers to collaborate with sales leaders and account managers on a galvanized go-to-market approach. I’ll walk you through the methods and tools we use with our clients to ensure campaign success.
Key Takeaways:
-Recognize the critical role of strategy in marketing
-Learn our approach for building an actionable, effective marketing strategy
-Receive templates and guides for developing a marketing strategy
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
It's another new era of digital and marketers are faced with making big bets on their digital strategy. If you are looking at modernizing your tech stack to support your digital evolution, there are a few can't miss (often overlooked) areas that should be part of every conversation. We'll cover setting your vision, avoiding siloes, adding a democratized approach to data strategy, localization, creating critical governance requirements and more. Attendees will walk away with actions they can take into initiatives they are running today and consider for the future.
How to Use AI to Write a High-Quality Article that Ranksminatamang0021
In the world of content creation, many AI bloggers have drifted away from their original vision, resulting in low-quality articles that search engines overlook. Don't let that happen to you! Join us to discover how to leverage AI tools effectively to craft high-quality content that not only captures your audience's attention but also ranks well on search engines.
Disclaimer: Some of the prompts mentioned here are the examples of Matt Diggity. Please use it as reference and make your own custom prompts.
10 Video Ideas Any Business Can Make RIGHT NOW!
You'll never draw a blank again on what kind of video to make for your business. Go beyond the basic categories and truly reimagine a brand new advanced way to brainstorm video content creation. During this masterclass you'll be challenged to think creatively and outside of the box and view your videos through lenses you may have never thought of previously. It's guaranteed that you'll leave with more than 10 video ideas, but I like to under-promise and over-deliver. Don't miss this session.
Key Takeaways:
How to use the Video Matrix
How to use additional "Lenses"
Where to source original video ideas
Videos are more engaging, more memorable, and more popular than any other type of content out there. That’s why it’s estimated that 82% of consumer traffic will come from videos by 2025.
And with videos evolving from landscape to portrait and experts promoting shorter clips, one thing remains constant – our brains LOVE videos.
So is there science behind what makes people absolutely irresistible on camera?
The answer: definitely yes.
In this jam-packed session with Stephanie Garcia, you’ll get your hands on a steal-worthy guide that uncovers the art and science to being irresistible on camera. From body language to words that convert, she’ll show you how to captivate on command so that viewers are excited and ready to take action.
3. EXECUTIVE SUMMARY
Rolex SA (Société Anonyme, meaning “anonymous company” in French) is a private
company and the single largest luxury watch brand in the world. They manufacture,
distribute and service wristwatches. In 1905 in London, Hans Wilsdorf and Alfred
Davis founded Wilsdorf & Davis, which eventually became “Rolex,” and was registered
as a trademark in 1908 and as a company in 1915. Rolex moved to Geneva, Switzerland
in 1919. They are responsible for many innovations in the watch industry including
the first self-winding watch, the first waterproof case, the first watch with a date on
the dial, the first watch to show two time zones at the same time and the first brand
to earn the chronometer certification for a wristwatch.
While Rolex has consistently sold to an upper class target market that consists of
mainly men over the age of 35, there is an untapped market that needs to be addressed.
This marketing plan will look at the current target market as well as the new market
that will be covered. A situational analysis will be conducted including an evaluation
of the strengths, weaknesses, opportunities and threats of the company. A proposal
for a new marketing strategy will be introduced, including a plan of action and a
financial forecast for the future.
In order to continue their dominance of the luxury wristwatch industry, Rolex must
look at the younger generation and find a way to convince them that the product is a
necessary purchase. This report describes how the company will approach this issue.
1
4. SITUATIONAL ANALYSIS
Rolex is a strong brand with a long history of high-quality luxury watches that are
the ultimate aspiration of the consumer. A Rolex is a status symbol known throughout
the world. They have 28 affiliates worldwide and rely on 4,000 watchmakers in over
100 countries, which gives them a prominent global presence.
The weaknesses include the price point, which only the affluent can afford. Another
problem is that the current younger generation has grown up with cell phones,
which they use to tell time. In the past, a watch was more valued, but for kids today,
the cell phone often replaces the watch. Finally, Rolex also produces a high-volume of
watches, which is a problem with watch aficionados who often prefer to be “unique”
and own pieces that few others own.
The opportunities for Rolex include the development of an effective social media
campaign. For example, Rolex has a website with a YouTube channel link, but does
not have links to other social media sites. These accounts would allow Rolex to have
an open dialogue with their customers as well as potential customers. There are
many Rolex fans and knockoff companies that have created pages, but there are no
verified “official” Facebook or Twitter pages, for example. Another great opportunity for
the brand is to educate the younger market so they understand the value of watches
and buy upstream later in life. Rolex can also continue to come up with more limited
editions of their watches that would create more individuality.
One of the biggest threats to the company is the current recession. People are
spending less money on “frivolous” purchases and high-end watches are certainly
not a necessity. Another great threat is the wide variety of counterfeit products that
are in the market. There are many manufacturers, especially in China, that produce
knock-off Rolex watches that look and feel like the real thing. An additional factor is
that Rolex produces about 2,000 watches a day and that is the highest volume in the
luxury watch industry. The higher the volume produced can equal a lower quality.
Other high-end watch companies are also a threat, including Omega, Cartier, Roger
Dubuis and Patek Philippe.
2
6. MISSION, VISION, OBJECTIVES
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.
4
7. TARGET MARKET
Current Market: The current target market for Rolex is wealthy consumers that
are looking for high quality and exclusivity. The products are created for those who
want to show off their wealth. The typical Rolex owner is male and above the age of
35, sometimes a celebrity or sports figure. Rolex is an international brand of Swiss
watches that is valued all over the world with over 50% of the market residing in the
US, Hong Kong, China, France and Singapore.
Market Segment: 21 to 35 year old males living in the United States who have recently
landed a high-paying job, earned a promotion or received a bonus. These are young
men who want to show off their newfound status. They have bought their expensive
suits and shoes to wear to their job, but they need to complete the look with the
sophistication of a Rolex watch to show that they have “made it.” This target market
currently values cell phones as their primary way to tell time and they do not yet
appreciate the value of a watch. They need to be educated on why they should be
wearing a watch as opposed to checking their cell phones for the time. Watch sales
have dropped considerably by as much as 30% in the past several years among
young men. This is a market that needs to be shown how owning a watch is a sustainable
competitive advantage. This group is highly active on the internet and is influenced
by advertising and their friends’ postings on Facebook, Twitter and YouTube.
Secondary Market Segment: Parents and grandparents of 18-24 year olds who are
rewarding their son or grandson for graduating from high school or college or even
obtaining a new job. These are 40+ year old men and women making above $65,000
per person per year. They are sophisticated and know the value of a high-quality
timepiece and are passing that knowledge onto their son/grandson. After receiving
a Rolex watch as a gift, the young man will see the value of the watch and purchase
more from the brand in the future.
5
8. MARKETING STRATEGY
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
materials.
6
9. ONLINE MEDIA
Website- A section of Rolex.com will be developed that caters to the target market
and conveys the benefits and value of wristwatches.
• 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.
SOCIAL MEDIA
Twitter- An official Rolex account will be created and verified. This account will be
managed by a social media team that will tweet daily to educate the audience as
well as respond to comments and concerns of their followers.
Facebook- An official Rolex page will be created and monitored by a social media
team. Information will be updated on a regular basis and the team will interact with
Facebook fans.
YouTube- An official YouTube channel will be established and include videos and
advertisements that cater to the target market. Each week there will be a new video
that educates users on different features of Rolex watches.
7
10. ACTION PROGRAM
Implementation:
This timeline covers the launch of traditional media, online media and social media.
The advertising agency will work with the marketing team on the new look and
feel between April and July of 2013. The new campaign will be rolled out in the fall
(September/October 2013). The second phase will take place in spring (March/April
2014), just before high school/college graduation.
TRADITIONAL MEDIA
New creative will be developed for the campaign advertisements and billboards
starting in April 2013. The creative team at the advertising agency will have 3
months to come up with the final direction as approved by marketing and the media
will rollout as follows:
Magazine/Billboard advertisements will run starting October 2013. The second
phase will run in March 2014.
Ads at sporting events will run starting October 2013 or later depending upon contracts
and choices of events.
Sponsorship of music concerts- research will begin in April 2013 involving the
choice of concerts and partnerships should be in place by October 2013 in order to
feature the new creative look.
ONLINE MEDIA
After the creative direction has been chosen from the advertising agency, the look
and feel will be developed into a section of the current website that is cohesive with
the Rolex brand.
• The website addition will be implemented in September 2013, concurrently with
the introduction of the new advertisements. The second promotional phase will be
implemented in March 2014.
SOCIAL MEDIA
Twitter/Facebook- The new accounts will debut in August 2013 in order to create
buzz and prepare for the new campaign.
YouTube- The official channel will debut in August 2013 with a preview/teaser of
what will be coming soon from the brand. Small elements of the new campaign will
be revealed weekly until the full introduction in October. In March 2014, previews of
the second campaign will be revealed weekly and fully introduced by April.
8
11. FINANCIAL FORECAST
• Increase daily production by 10%. (An extra 200 watches per day on top of the
2,000 that are already being produced.)
• Increase sales profit percentage to more than the percentage of population
growth per year.
Parameters:
• New Marketing: Marketing team, financial team, sales teams, public relations,
social media team, web development, advertising, event production.
• Cost of Goods Sold: Watch materials, shipping, packing, quality control.
9
12. 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.
Rolex has a long tradition of creating the standard for luxury in wristwatches. By
adding a new segment of the population to their customer base, they will ensure
that they continue their standard of excellence. Moving forward as technology
evolves is key in achieving this goal.
10