Rolex vs Patek

5101 Words Nov 14th, 2010 21 Pages
McGill University

Patek Philippe vs. Rolex
Gizem Ozdemir, Cynthia Younes, Martin Lemay, Alex Beauchesne

Table of Contents

 Introduction to the Watch Industry 3  Customer and Competitor Analysis 4 PATEK PHILIPPE 5  History of Patek Philippe 5  Patek Philippe’s Strategy 6  SWOT Analysis 8  Marketing Mix 9 ROLEX 11  History of the Brand 11  Scope of the Brand 12  SWOT Analysis 12  Marketing Mix 14  Results – Patek Philippe 15  Recommendations Patek Phillipe 16  Results—Rolex 17  Recommendations—Rolex 18  Works Cited 21

* Introduction to the Watch Industry

Rolex and Patek Philippe are part of the jewelry and watches market – watches consist of 20.8% of the jewelry
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7 (Ziglar, Chronocentric: Beginner's Gudie to Major Watch Brands)Still based on our perceptual map, we can see that Rolex has an average luxury level and degree of innovativeness. Rolex is a competitor of Patek Philippe but Patek Philippe is not a competitor of Rolex. This is because Rolex has a strong awareness and sometimes wealthy customers are more attracted to buying a Rolex because they don’t feel the need to buy watches as costly as Patek Philippe.

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.

* History of Patek Philippe

In 1839, two Polish immigrants, a businessman Antoni Patek and a watchmaker Czapek joined forces to found « Patek, Czapek & Cie » in Geneva.
Five years later, in 1844 , Mr. Patek found another partner who was a watchmaker and Patek Philippe was born. In
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