Since the company has been successfully meeting demands of its consumer and consistently introducing creative and innovative designs in the market, the management and distribution strategies followed by the wrist watch manufacturer is of great interest. One of the critical aspects in quality management is logistics and supply chain as well as channel management. In the present research, various channel management strategies of Rolex will be evaluated. The research will throw light on the distribution patterns and various marketing strategies. Competitor analysis and business drivers will also be discussed. Company Description Rolex is a private watch manufacturing conglomerate involved in production, distribution and service of wristwatches under Tudor and Rolex brands. It was founded in the year 1905 in London, England by Alfred Davis and Hans Wilsdorf. The current headquarters is situated in Geneva and it has its distribution arms worldwide. Gian Riccardo Marini is the current CEO and by 2010, the total revenue earned by the watch manufacturer was 5.1 billion dollars. The company has over 2000 employees and produces more than 2000 watches every day (Yahoo, 2013) A Rolex watch on the wrist of a customer is expected to enhance the personality and style of that person. It has become a symbol of great taste and fashion. Since these watches are exclusively designed for upper class segments, not many of the people get the opportunity of owning this prestigious brand. In the year 2007, Rolex was announced as 71 on a list of 100 most valuable brands of the globe by Bloomberg Businessweek (Businessweek, 2007). During its tenure the company has achieved many milestones in terms of innovation and creativity. In the year 1926, Rolex introduced waterproof watch and became the first brand to do so. All Rolex watched are designed and manufactured with materials of dine quality and with much detail so that chances of error and mistakes are minimized. Focusing on developing well-designed and realistic marketing and channel distribution strategy is crucial in order to build a successful brand. Products The major brands produced under Rolex SA are Tudor and Rolex. There are three watch lines for Rolex; Professional, Oyster Perpetual and Cellini. Some of the famous modern and well-known models of the Rolex brand includes submariner, Yacht- Master, Day-date, Daytona, Day-just etc. Few of the famous Cellini models include Quartz Mens, Cellinium, Cestello Ladies etc. Retail pricing varies according to quality, materials used and models. Accordingly, Rolex watches can range from 650 dollars to 80000 dollars. Product Distribution System A distribution strategy is used in order to make products available to the target customers. Rolex has a worldwide presence. Naturally, the company has been using a comprehensive distribution strategy in order to reach its customers residing in various ends of the globe (Kerin, Hartley & Rudelius, 2011).The overall product distribution system includes geographic coverage, distribution channel market and distribution patterns. Geographic coverage Rolex is an international brand. The brand name Rolex was developed so that it can be easily pronounced in various languages. Having a famous Swiss background has made the brand easily recognizable in North America and Europe. The brand covers 28 worldwide affiliates and has around 4000 watchmakers working in more than 100 countries round the globe. The brand has established retail distribution in almost every
Research Paper Name of the Student University Date Contents Contents 2 Introduction 3 Company Description 3 Products 4 Product Distribution System 4 Geographic coverage 4 Distribution Channel Market 4 Distribution pattern 5 Marketing Strategy 5 Economic drivers 7 1…
Ford Motor Company, which was established in the year 1903 by Henry Ford in Detroit, meets the requirement. Ford Motor Company, is the second-largest automobile company, and represents $164 billion international business domain. This leading international company has 224,000 employees worldwide and has 90 plants globally.
Therefore, the core dynamics of Toyota’s marketing which consist of its supreme quality testing, innovation, and its supreme ability to attract a solid customer base. One of the main components of Toyota’s marketing strategy is to focus on supreme quality testing.
Like numerous other farmers and small business owners, the individuals depicted in the story try to sell their produce. They enter into economic transactions at several instances. The examples of the market structures from the story would be pointed out and explained comprehensively.
How members of a given population are influenced by the society in making preferences of a particular product or service is also considered. There exists an interrelationship between the product (what captures the attention of the buyer towards buying the product) and one’s response toward it.
One of the numerous aspects is product branding. A product brand can be defined as objects or phrases comprising of descriptive verbal attributes or graphical representation, which serves to convey the commercial message about any given business entity. A product brand should take into consideration the target consumers and any other marketing forces like competition and innovations (Julian, 2011).
Currently, the company boasts of exponential growth realized over the years, attracting millions of consumers in more 17000 locations in more than fifty countries across the globe. The company’s logo gets its inspiration from the sea. The logo features a twin-tailed siren from the mythology of the Greeks.
Kazmi and Batra (2009) note that most companies operate in a very competitive environment today. Therefore, one of the best ways to stay ahead of the park is to adopt an effective marketing strategy that takes into consideration all the marketing mix of a product or service.
if a customer wants to buy low price the seller can refuse to sell goods to him and if a seller charges higher prices then consumers can go other sellers.
Products homogeneity all the firms produce a homogenous product. The above two characteristics imply that the individual firm is a price taker meaning that the individual demand curve is infinitely elastic an indication that he firm can sell any amount of output at the prevailing market prices.
The largest and most recent merger was with Northwest Airlines in 2010. Richard H. Anderson is the CEO of the Delta, and Edward Bestian assumes the role of company president. The company is headquartered in Atlanta, Georgia, United States.