Rolex Study on Customer Perception

The minute hand also has two bars; the second hand has a long single bar with a circle near the end of the bar. There is also a red hand with a triangle at the end of the bar. The logo of the watch has two parts: the above is a shape of a golden royal crown, and the bottom is the word “ROLEX” with white color and Times New Roman font. There is a Rolex logo with several words on the middle upper of the dial, two rows of words just below the center, and two words on the middle bottom. In the lower right of the watch, in front of the dark green background, there are words “OYSTER PERPERTUAL EXPLORERⅡ” with white color and Arial Unicode MS font. On the right corner, in front of the dark green background, there is a Rolex logo and its website below. On the middle bottom, there are two rows about the product official contact number and sponsoring brands.

Here the factor would be the brand but not because of the recognition but because of its’ reliability. Rolex has been known to read the time with absolute accuracy since its first model. The watch has been use since world war one because of this feature, it was, it is and it will be the perfect

One of the primary change in strategies would require pruning Omega’s product lines to make it more coherent and to eliminate any potential intra-firm competition. Typically, the lower end models need to be pruned so that it could be positioned as a more effective Luxurious Brand to compete directly against other Luxury Brand watches. The prevention of any overlapping with sub-brands will ensure that there is no potential risk to the dilution of brand image as well as reduce the risk of cannibalization of the current product lines. This will also help in uplifting the overall brand image of the Omega brand by withdrawing a number of Omega’s low-priced models thereby boosting the band profitability which will ensure that there is enough opportunity for the improvement on brand margins - a key factor in reducing the price differences with Rolex. Another underlying argument is that this process will enable the exclusivity

Most of the Garmin GPS watches are targeted towards individuals that exercise outdoors. That’s why most of the features are connected with running, climbing and jogging. Garmin has set the set the standard for sport watches in means of design, features and durability. Yes they’re tough watches that are even water resistant, but don’t you forget them on places like ironing board because they can’t stand too much heat.

There is a need for contingency planning and potentially have a diverse product range to limit the risk of one product.

Branded watches have continuously been well-liked throughout the years and will still continue to be trendy in the years to come for the reason that after consumers buy into a brand, they reap countless benefits. With their knowledgeable purchasing routine, consumers continue to purchase in style brand watches for five important reasons.

This gain value and addresses a key decisive achievement factor in the industry (Grant,2010). As position is important to offer convenience and a deep assortment, An extra unique intangible resource would be their brand representation and customer loyalty, this is vital since it can attract or attract consumers and it could be necessary to build the brand image .

There Is a similar relation among the clothes. Several customers shop there based on the quality and prices as well as the features associated with the products. An advantage of the store is that it has a wide product mix and various offering in different categories and all these can be located at one place. This attracts a wide variety of customers. In line with their positioning of offering quality, trendy products, the brand is consistently updating its product line. The brand does not focus on innovation but rather on always leading trends. In relation to the product life cycle, clothing has a short life span from the first to last stage as tastes change easily. For this reason, it is important to constantly anticipate consumer tastes and preferences prior to launching a product so as to retain and possibly build customers loyalty. It is also necessary to develop a successful marketing strategy to display product offerings.

Maintenance of the brand image is always the fore most important factor for the luxury brands in order to sustain in the market. is very critical. Therefore, of all the criteria mentioned above, we have determined the brand image is the most important criterion on which we will base our recommendation.

In essence, branding is all about differentiation and consistency. It always has been able to effectively establish an emotional relationship with customers. They compete with each other with the quality of watches that they make for example; Rolex provides a variety of choice for their customers and provides their wants and desires. This includes; by making their watches handcrafted, and putting diamonds into their watches to make it more luxurious etc. Another way for them competing is level of service provided. If a customer comes to Rolex they will ensure that they provide insurance and great level of customer service. This will increase repeat-purchase and brand loyalty among their customers. Rolex is considered untouchable in its position as the world’s leading luxury watch brand both in terms of industry prestige and its

Although their branding message was changing slightly during the time, they kept core values and traditions untouched. Comfort, uniqueness, quality and emotional impact – these were always the main associations with the brand. However, other features were being emphasized as time was going by.

as watches with style, class, flair and quality. In these days of mass produced generic watches that tend

What is interesting in this market is that there are no clear leaders. Even though each company’s goal is to make the more profit as possible, we can’t define any leader since they have different strategies and objectives.8 [ (Tower) ] For example, Patek Philippe’s core ideology is to have the most prestigious brand and to make the most expensive watch as possible, and target the most prestigious people which is a really niche market. In comparison, Rolex’s purpose is to be a more accessible luxury brand and make the most sales as possible. It is difficult to compare them in terms of success, Rolex sells more but Patek has a much higher reputation.

The feature of luxury is base on the fact that it is a brand, which is a basic discrepancy of luxury and craftsmanship. According to Keller (2003, p.60), “brand equity is the differential effect that brand knowledge has on consumer response to the marketing of the brand”. It is related to the added value of goods provided by the make as well (Farquhar, 1989). Therefore, companies having strong brands could sustain their differentiation (Aaker, 1996) and reach better “financial leverage” (Ind, 1997) than those do not have (Nyadzayo et al., 2011). Thus organizations, which produce luxury objects, need to create and maintain their brand equity.

On the first meeting at the board room, we announced our brand identity as luxury represented on our flagship model TX7. Although it was the most expensive and luxury model among us and other competitors, we found a success in the market with market share growth from 1% to 2.5% as shown in Figure 1. Most successful business takes time to build a reputation in the market, even more for the luxury market (Luxury brand management, 2008). TX7