Rolex is known for its high quality watches. It has defined quality through rigorous testing at every stage of production. Rolex has a long history dating back to 1905 and is known for innovations like the waterproof Oyster case and self-winding movement. It maintains a strong brand image through exclusive distribution, high prices, and associations with athletes and explorers. Opportunities for Rolex include introducing new designs, targeting women customers, combating counterfeits online, and communicating the long-term value of its watches.
Russian ℂall gIRLS In Goa 9316020077 ℂall gIRLS Service In Goa
Sbm 03 rolex_brand_audit
1. Rolex Brand Audit
“The name of –Rolex is synonymous with quality. Rolex-
with its rigorous series of tests that intervene at every stage-has
defined the meaning of quality.”
-Rolex.com
1.1
4. Brand Inventory
History
Private Ownership
Product-related attributes
Rolex Brand Portfolio
Tudor
Communications, Pricing and Distribution
1.4
5. History
1905: Found in London by Hans
Wilsdorf (German) and William
Davis.
1908: Registered Rolex brand in
Switzerland
1910: created a timepiece that
was small enough to be worn on
the wrist.
1914: Obtained the first Kew
“A” certificate after passing the
world’s toughest timing test. 1.5
6. History
1926: Developed and patented
Oyster waterproof case and
screw crown against water,
dust and dirt (the first time in
the industry)
October 7, 1927: Mercedes
Gleitzer swam the English
channel wearing an Oyster
which functioned perfectly
after emerging 15 hours in
water.
1931: Created the Perpetual
self-winding rotor mechanism
eliminating the need to wind
the watch
1.6
7. Private Ownership
Privately owned company and controlled by
only three people in its 100-year history.
Enabled the company to maintain a consistent
focus on its core business.
1.7
8. Product Attributes
“10 Golden Rules”
Waterproof case
Perpetual rotor
The case back
The Oyster case
The winding crown
The finest and purest materials
Quality control
Rolex self-winding movement
Testing from the independent
Controle Officials Suisse des
Chronometres
Rolex Testing
1.8
9. Rolex Brand Portfolio
Oyster Perpetual Oyster Professional Cellini
• Air-King • Explorer • Cellinium
• Perpetual • Gmt Master II Quartz
Date Submariner • Cellissima
Datejust Submariner Date Classic
Datejust Turn O- Sea Dweller 4000 Danaos
graph Yatch-Master Cestello
Day-Date Cosmograph Daytona Orchid
Lady Datejust 2005 Prince
Lady Datejust
Pearlmaster
1.9
10. Tudor As Fighting Brand
Created in 1946 as a
“fighting brand” to stave
off competition from
mid-range watches such
as Tag Heuer, Citizen,
and Rado.
Tudor has a range of
family brands, namely
Price, Princess, Monarch,
and Sport.
1.10
11. Communications
Brand Image:
Product’s high quality
Its associations with top
artists, athletes, and
explorers.
Enhanced by its exclusivity,
with premium prices and
limited distribution
Advertisements: mainly
print ads
Sports and events
sponsorship
1.11
12. Pricing
Around $2,500 for the basic Oyster Perpetual
and can reach as high as $200,000.
For each style, prices can vary by $2,000 -
$12,000 depending on materials used.
1.12
13. Distribution
Not selling online
Only through
approximately 60,000
“Official Rolex Dealers”
worldwide.
1.13
15. Contents
Customer knowledge
Sources of Brand equity
Ambassadors
Sports and culture
Philanthropy
The Customer Base Brand equity Pyramid
(CBBE)
Counterfeiting: threat to Equity
1.15
16. Customer Knowledge
The most powerful and recognized watchmaker in
the world.
Typical consumer brand associations:
Sophisticated
Prestigious
Exclusive
Powerful
Elegant
Snobby
Flashy
High quality
1.16
17. Rolex Mental Map
• Successful
• Watches Image • Luxury
• Expensive • Classic
• Precise
Performance
• Gold/Platinum
• Crown Logo
• Exceptional • Wimbledon
customer • Golf
Sports • Sailing
service
• Championship
athletes
• Older
• Top Athletes
People
• High-class
• Counterfeited and sold on
• Masculine
the street
Negative
• Frivolous purchases
• Flashy and pretentious
Rolex Brand Mantra
Classic Designs, Timeless Status 1.17
18. Sources Of Equity
Brand Awareness:
One of the most recognized luxury brands in the world.
Its crown logo
Brand Image:
Functional benefits: quality, craftsmanship, innovation
Emotional benefits: Exclusive status symbol, self-
expressive to the user.
Others: Ambassadors, Sports & Culture, and
Philanthropy,..
1.18
19. ROLEX CBBE PYRAMID Ultimate Social
Status
• Extremely loyal customer,
high repeat purchase rate.
• Much affiliation &
attachment
Resonance
• Part of elite society
Extremely Quality Exclusive & Self-
• The best watches in the rewarding
world Judgments Feelings • Feelings of success and
• Maximum quality, high social status
innovation and design • Special approval and
self-respect
Luxury Product Classic &
• Handcrafted timepiece of Achievement Image
premium materials Performance Imagery • Elite luxury image
• Perpetual self-winding through sports & cultural
technology ambassadors
• Official Crown logo • Status symbol
• Exceptional customer • Classic heritage
service
• Holds value well
Brand Salience
HIGH AWARENESS
• Most commonly recalled luxury watch in the world
• More depth and breath
20. Counterfeiting: Threat To Equity
Counterfeiting Rolex watches has become a
sophisticated industry with sales exceeding $1.8
billion per year.
Counterfeiting damage the company’s brand
equity and present a huge risk to the brand.
Rolex sponsors the International Anti-
Counterfeiting Coalition and suing companies
that allow the sale of counterfeiting Rolexes.
1.20
22. Five Main Areas Of
Opportunities
Introduce new designs
Connect with the female consumer
Attack the online counterfeiting industry
Understand how younger consumers relate to
luxury
Communicate long-term value
1.22
23. Introduce New Designs
Research shows a trend toward more jeweled
watches
Only 7 of Rolex’s sub-brands feature diamond
watches => Rolex can increase the ratio of
jeweled watches.
Consider partnering with well-known designers
with limited edition watch that freshens the
brand and creates a buzz.
1.23
24. Connect With Female Customer
Women make the majority of
jewelry and watch purchases ><
Rolex’s image campaign mainly
emphasizes males.
Rolex should consider more
female ambassadors of elite
status, sponsor female-attended
sport events increase the ratio
of jeweled watches (ice-skiing,
equestrian, golf, etc.)
Only 6 of Rolex’s 22 sub-brands
geared specifically for women
=> Rolex can increase the ratio
of female-only watches
1.24
25. Attack The Online Counterfeit
Industry
Due to spread of Internet, the problems of
counterfeiting is a bigger threat than ever before.
Rolex may consider building an exclusive online
store or an exclusive distribution site.
1.25
26. Understand How Younger
Consumers Relate To Luxury
How will prestige be
defined in the 21st century?
Will the same formula
“work” for the millennial
generation as they age and
move into the Rolex target
market?
The current tastes of many
younger consumers who
are already in the market
for Rolex watches?
1.26
27. Communicate Long-term Value
Rolex is an excellent
representation of the ultimate
social status.
Rolex watches more durable,
resale value and timeless than
other luxury items such as
handbags, clothes, shoes.
Communicate “heirloom”
quality
1.27
28. To summarize
Points of Parity Points of Difference
Swiss watch maker History and heritage
Durable Crown
Fine materials Exclusive Imagery
Quality craftsmanship Premium price
Accurate Innovation
Attractive Distribution
1.28