Marketing Strategy

"This watch is the product which will reintroduce Switzerland to the low and middle price market. It is the first step of

Advertisements for luxury goods sell a vision of hope for the life that one could have and an object that most can only dream to acquire. That dream becomes tangible when one reaches a status of wealth that they can grasp a dream they have had since their childhood. Rolex is one of those companies that most young men dream of having when they grow up. This exquisite watch is in many blockbuster movies such as the James

This group is made up of students and people from the nearby downtown offices and professional centers.

As a result, Malaysian will have more exposure to its product. The demand for its luxury timepiece will increase as it is very appealing to the higher income group in Malaysia. There is a higher chances of them buying it because it is the first solar functioned and GPS watch. The increase of demand in Seiko’s timepiece will diminish the sales of existing watch retailers. On the other hand, the increased demand for Seiko watches may not be a threat to the local watch industry owing to the fact that Astron watches cost an arm and a leg. Astron watches are priced between USD 1,825 to USD 3,300, which will be RM 7300 to RM 13,250 after converting into Malaysia Ringgit. With such high prices, not many can afford to purchase a Astron watch. As a results, Malaysian may prefer cheaper watch brand such as Casio, Swatch or other average priced watches. Thus, watch industry should be aware of the changes in their surrounding because it signifies an alternative in either making a profit or losing it.

In this paper, I will explore the reasons behind the success of Rolex company. So, what are the factors behind the company success?

This brand represents the biggest of the figure of resulting coming business of the watchmaker's shop of the group LVMH. They maintain symbolic links with the universes of the motor racing, the sport generally, the music and the arts. It is the brand which serves as reference in the sector watchmaker's shop of LVMH. Tag Heuer occupies the segment of the accessible luxury, around 2.900 euros the watch. LVMH is not the leader in term of watchmaker's shop because of the strong competition in this sector, but the presence of 2 of its brands in the top 20 of the most important watches luxury brands shows that LVMH possesses a real impact on the luxury watch-making

It definitely has vast opportunity to attract middle and lower segments of society which will bring in more customers to have a collection of the watches and also it will helps to improve the sales.

A smartwatch is an automated wristwatch which can run mobile applications, and allows one to access several functions such as a calculator, compass, applications to book a cab and order groceries. This can also be used to make or answer phone calls and to send text messages. There is a possibility that the luxury watch industry may lose its customers to the smart watch industry. The luxury watches have had a high brand value and have been a symbol of prestige, riches, status and classiness. The introduction of smart watch by tech savvy companies such as Samsung, Motorola, Apple and Google has brought increased competition in the watch industry.

Rolex, the esteemed timepiece manufacturer, known globally as a statement of success, quality, and prestige, is regarded in the watch market as part of the highest tier of timepieces. The Swiss watch company was founded in 1905 by Hans Wilsdorf and his brother-in-law William Davis in London, with the vision of making quality timepieces more popular. They chose Rolex as the name because they believed that the sound a watch made while being wound sounded like the word while also being short enough to fit on any size watch. In 1914, Kew Observatory awarded a Rolex watch a Class A precision certificate, a distinction normally granted exclusively to marine chronometers. The company spent 14 years in London and then Wilsdorf moved the

As Philip Kotler, Veronica Wong, John Saunders and Gary Armstrong (Fourth European Edition) points out “Before setting price, the company must decide on its strategy for the product. If the company has selected its target market and positioning carefully, then its marketing-mix strategy, including price, will be fairly straightforward.” The Christian Dior Watches’ new collection watches’ target market is

“The primary purpose of a marketing strategy is to effectively allocate and coordinate marketing resources and activities to accomplish the firm’s objectives within a specific product market.

The differentiating feature of Rolex is its quality combined with its brand image. Rolex targets a smaller market which can pay a premium for a luxury watch. Rolex follows focused differentiation strategy. While other brands in the market focus toward a specific customer segment, Rolex’s strategy is concerned about the unique attributes of its watches. Higher value proposition created from these unique aspects allows for a higher price for the Rolex watches.

The Galaxy Gear had been very foreseen since the firm is at present the world's top rated cell phone creator and has beaten Microsoft, Apple and Google to divulge such a gadget. Samsung called it a "style symbol". Then again, examiners cautioned that a choice to farthest point the watch to filling in as an accomplice to other Galaxy Android gadgets may utmost its

This case begins with highlighting the success that had now gripped the Swatch Company lead by Nicolas G. Hayek. Due to strong numbers from 2010 the company set the goal to make 10 billion. This was only made possible by their multiple different brands across multiple different segments, innovative technology, and coming out of a brief period of difficulty with their most profitable flagship watch, Omega. The company now sets its sight on a new goal, surpassing the long established brand, Rolex. In order to try and tackle this giant, the company and CEO debate how to best attract potential customers through advertising, overall message, and through possible overseas ventures in the United States.

Seiko Watch Corporation and its predecessor had always been innovative in watch technology development and brought many industry firsts to the watch market, and Seiko was very successful before the 1990s. With competitive environment change started in the 1990s, Seiko found it was not in the right segment of the market for growth, this segment is high end watch market. Seiko tried to break into the high end watch segment, but the attempts haven’t been proved successful.