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.

1. MARKETING PLAN FOR
ROLEX

2. CONTENTS
1. Executive Summary 1
2. Situational Analysis 2
3. Strengths/Weaknesses/Opportunities/Threats 3
4. Mission, Vision, Objectives 4
5. Target Market 5
6. Competitors andPrice Range 6
7. Top 50 most searchedbrandin 2015 7
8. Marketing Program 8
9. Marketing Strategy 9-10
10 . ActionProgram 11
11 . Financial Forecast 12
12 . Conclusion 13

3. EXECUTIVE SUMMARY
Rolex SA (Société Anonyme, meaning “anonymous company” in French) is a private
company and one of the single largest luxury watch brand in the world. They manufacture,
sell and service wristwatches. In 1905 in London, Wilsdorf & Davis were founded by Hans
Wildsdorf and Alfred Davis, which eventually became “Rolex,” . Rolex moved to Geneva,
Switzerland in 1919. They brought numerous advancements in the watch business
including the principal self-winding watch, the main waterproof case, the primary watch
with a date on the dial, the primary watch to show two time zones in the meantime and
the primary brand to procure the chronometer accreditation for a wristwatch.
Rolex essentially concentrate on high society clients , for the most part over the age of 35.
This showcasing arrangement will center at the present target market and additionally the
new market that will be secured. A situational investigation will be directed including an
assessment of the qualities, shortcomings, open doors and dangers of the organization. A
proposition for another showcasing procedure will be presented, including an arrangement
of activity and a budgetary gauge for what's to come.
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.

4. SITUATIONAL ANALYSIS
Rolex is a solid brand with a long history of amazing extravagance watches that are a
definitive desire of the shopper. A Rolex is a status known all through the world. They have
28 affiliates worldwide and depend on 4,000 watchmakers in more than 100 nations,
which gives them a noticeable worldwide nearness.
The shortcomings incorporate the value point, which just the elite class can manage.
Another issue is that the current youth has grown up with phones, which they use to look
time. Before, a watch was more esteemed, however for children today, the mobile phone
regularly replaces the watch. At last, Rolex additionally delivers a high-volume of watches,
which is an issue with watch enthusiasts who regularly like to be "exceptional" and own
pieces that few others own.
The opportunities for Rolex includes the improvement of a powerful online networking
effort. For instance, Rolex has a site with a YouTube channel link, yet does not have
connections to other online networking sites. These accounts would permit Rolex to have
an open exchange with their clients and additionally potential clients. There are numerous
Rolex fans and knockoff organizations that have made pages, however there is no official
Facebook or Twitter pages, for instance. Another extraordinary opportunity for the brand
is to instruct the more youthful market so they comprehend the estimation of watches and
purchase upstream sometime down the road. Rolex can likewise keep on coming up with
limited edited versions of their watches that would make more distinction.
One of the greatest dangers to the organization is the current recession. Individuals are
spending less cash on "frivolous" buys and top of the line watches are surely not a need.
Another extraordinary risk is the wide assortment of fake items that are in the business
sector. There are numerous makers, particularly in China, that produce knock-off Rolex
watches that look and feel like the genuine article. An extra component is that Rolex
produces around 2,000 watches a day and that is the most astounding volume in the
extravagance watch industry. The higher the volume delivered can level with a lower
quality. Other top of the line watch organizations are likewise a risk, including Omega,
Cartier, Roger Dubuis and Patek Philippe.

5. SWOT ANALYSIS

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.
• To create a social media strategy that will help users to interact with the brand as well as
extend the message to a larger populace.
• To encourage the purchase of wrist watches as a “reward” for key successes in a young
man’s life.

7. TARGET MARKET
Current Market: The present target market for Rolex is rich buyers that are searching for
high caliber and selectiveness. The items are made for the individuals who need to flaunt
their riches. The average Rolex proprietor is male or more the age of 35, at times a VIP or
games figure. Rolex is a global brand of Swiss watches that is esteemed everywhere
throughout the world with more than half of the business sector dwelling in the US, Hong
Kong, China, France and Singapore.
Market Segment: 21 to 35 year old guys living in the United States who have as of late
found a lucrative occupation, earned an advancement or got a reward. These are young
fellows who need to flaunt their newly discovered status. They have purchased their costly
suits and shoes to wear to their job, yet they have to finish the look with the advancement
of a Rolex watch to demonstrate that they have "made it." This target market as of now
values mobile phones as their primary way to read a clock and they don't yet value a
watch. They should be taught on why they ought to wear a watch rather than checking
their mobile phones for the time. Watch deals have dropped impressively by as much as
30% in the previous year amongst young fellows. This is a business sector that should be
indicated how owning a watch is a feasible upper hand. This group is very dynamic on the
web and is impacted by publicizing and their friends' postings on Facebook, Twitter and
YouTube.
Secondary Market Segment: Parents and grandparents of 18-24 year olds who are gifting
their child or grandson for graduating from high school or secondary school or even
managing to grab an employment opportunity. These are 40+ year old men and ladies
making above $65,000 per individual every year. They are advanced and know the value of
a high quality timepiece and are passing that learning onto their child/grandson. In the
wake of accepting a Rolex look as a blessing, the young fellow will see the value of the
watch and buy more from the brand later on.

8. Competitors and Price Range
Initial Level Price
Growth
Price

9. Top 50 Most Searched for Luxury Brands (2015)

10. MARKETING PROGRAM
Product:
The Rolex productwill stay very recognizableand relatively unchanged.
Price:
The level at which the watches are priced play a key role in the brand's image.
For this reason price will remain the same.
Promotion:
Rolex success relies on the continuation of promotions through magazines,
newspapers ,selectivetelevision programs and prestigious events.
Place:
The purposefulplacement of Rolex's authentic dealers in the wealthiest
neighborhoods and districts helps to solidify the brands association with
excellence.

11. 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 focus on the target market and educate them on the value of wristwatches as rewards
and alternatives to cell phones to know time.
Billboards- Ads will be placed on billboards in major cities, mainly in urban areas to hit the
target market. Both traditional and digital billboards will be used.
Ads at sporting events- Ads will be strategically placed at sporting events other than the
prime sporting events in the country.
Sponsorship of music concerts- Rolex will sponsor music events that are popular in the
market. Ads will be placed in almost all the show venues and also in the programs. The
logo and name will be seen all over the programs promotional materials.

12. 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 like Twitter, Facebook and YouTube. The user can then
easily connect with Rolex’s social media sites with a click.
SOCIAL MEDIA
Twitter- An official Rolex account will be created and verified. It will be managed by a
social media team that will tweet daily to inform the audience as well as respond to
comments and concerns of the followers.
Facebook- An official Rolex page will be created and monitored by a social media team.
Information will be updated on a regular intervals and the team will interact with the
watch admirers.
YouTube – An official YouTube channel will be launched and include videos and
advertisements that cater to the target market. Each week there will be an upload.

13. 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 2016. The new campaign will be rolled out in the fall (September/October
2016). The second phase will take place in spring (March/April 2017) , just before high
school/college graduation.
TRADITIONAL MEDIA
New creative will be developed for the campaign advertisements and billboards . 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 this july . The second phase will run in
March 2016.
Ads at sporting events will be increased or later depending upon contracts and choices of
events.
Sponsorship of music concerts- Research will begin in July 2016 involving the choice of
concerts and partnerships should be in place by October 2016 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 2016, concurrently with the
introduction of the new advertisements. The second promotional phase will be
implemented in March 2016.
SOCIAL MEDIA Twitter/Facebook- The new accounts will debut in August 2016 in order to
create buzz and prepare for the new campaign. YouTube- The official channel will debut in
August 2016 with a preview/teaser of what will be coming soon from the brand. Small
elements of the new campaign will be revealed weekly .

14. 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.

15. CONCLUSION
This marketing plan condenses the fundamental purposes of how Rolex will advertise their
wristwatches to a more youthful era than the present target market. This development will
permit Rolex to move into an undiscovered territory that require training on the value of
an high quality time piece. Keeping in mind the end goal to appropriately address this goal,
Rolex needs to upgrade their marketing strategy to have a greater presence in
advertisements that focuses on younger business sector and in addition a strong show in
the social media domain.
Rolex has a long custom of making the standard for extravagance in wristwatches. By
including another fragment of the populace to their client base, they will guarantee that
they proceed with their standard of excellence. Pushing ahead as innovation advances is
key in accomplishing this objective.