Rolex Branding
Transcript of Rolex Branding
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Copyright 2005 SalterQuest.com. All Rights Reserved.
Presented by
Jeannine Komonosky
Long Le
James E. Salter
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IntroductionIntroduction StrengthsStrengths
WeaknessesWeaknesses
Brand Report CardBrand Report Card Revised BrandingRevised Branding
Goal and StrategyGoal and Strategy
Revised BrandRevised Brand
MessagingMessaging
Watch IndustryWatch Industry
Key BrandKey BrandComponentsComponents
Current BrandCurrent BrandStrategyStrategy
Image AssociationsImage Associations
Perceptual MapPerceptual Map
Competitive PositionCompetitive Position
Industry AnalysisIndustry Analysis
Opportunities &Opportunities &ThreatsThreats
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Watch IndustryWatch Industry
History
Industry Grew up in Geneva Swiss Watches have a
Worldwide Reputation forQuality
Technological Developments Mechanical Watches have 100
to 130 components Light-emitting diodes (LED) Liquid Crystal Display (LCD)
Quartz Analog
Brands now Compete on: Features Product Attributes
Positioning
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Key Brand ComponentsKey Brand Components Early Publicity
Advantages
BrandingChallenge
Importance of
Marketing
Role of Collectable
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Current Brand StrategyCurrent Brand Strategy Early Brand
Strategy
Current BrandStrategy
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Image AssociationsImage Associations
Disposable Income
James Bond 007
Wealth in Travel
Luxury Market
Luxury Adventure
Prestige Sports
Swiss Made
Corporate Success Symbol
The World of Rolex
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Perceptual MapPerceptual Map
Rolex
Quality
Sport Accuracy
Innovation
Design
DurabilityCraftsmanship
First
New
Functionality
Precision
Sharp
CoolOutdoors
Affluence
Status
Traditional
Classy
Time-honoredDress
Cutting Edge
Competitive
Daring
Accomplished
Winning
Conservative
Wealth
HavingIt All
Expensive
Prescious Stones
Prescious Metals
Stylish
Adventure
Worldliness
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Competitive PositionCompetitive Position Market
Segmentation
Types ofWealthyConsumers
Rolex
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Industry AnalysisIndustry Analysis Industry Five
Forces
Omega Citizen
Jaeger-LeCoultre
Movado
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2001 Annual Sales ($ millions)2001 Annual Sales ($ millions)
25,840
209 1,050 152 321
0
5,000
10,000
15,000
20,000
25,000
30,000
Rolex Omega Citizen Jaeger-
LeCoultre
Movado
2001 Annual Sales ($ millions)
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Competitor Watch Brands - Market Share Snapshot
Rolex: $25,840
JLC: $152
Citizen: $1,050
Movado: $ 321
Omega: $209
-$20,000
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
0 1 2 3 4 5 6
Style/Aesthetics/Quality
AverageRetailSalesPric
e
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Opportunities & Threats Expansion of Luxury
Brands
Maintain Exclusivity ofBrand
Desirability DiminishedRelative to other LuxuryBrands
Lower Price Levels
Market Share Snapshot
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Strengths Quality
Commitment to
Excellence Reputation
Manage demand
Swiss-Made
Mechanical Movement
Advertising
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Weaknesses Style limitations
High price limits
market Technology is not
accurate
Myopic
Management
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Brand Report CardBrand Report Card
433Support and Monitoring
662Management
875Integrated Marketing Activities
111Portfolio
333Positioning
754Value
544Relevance
222Delivering on Customers Desires
PrioritizationRating of ImportanceScoreBrand Report Card Attributes
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Revised Branding Goal
Reserve Rolex asElite Brand
ProductDiversification
Proposed
Umbrella
Branding
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Umbrella Branding Strategy
The Crocodile HunterWild, SportyMiddle Money$500-2,000Luxury-Low
Safari Line
MadonnaGeneration XNew Money$2,000-5,000Luxury-High
Revolution,Freedom
WhoopiGoldberg
BohemianNew Money$5,000-10,000Premium-Low
Vibe, Eclipse,Pagea
Vienna Opera House ImageThe ClassicsNeo-Renaissance
Romance
Old MoneyMillennium Money
$10,000-20,000Premium-High
Romeo & Juliet
James BondPrestigeOld Money
Millennium Money
> $20,000
Ultra-Premium
Rolex
RepresentativeImageConsumerPrice RangeBrands by Rolex
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Revised Brand Messaging Product
Brand Attributes
Brand Value Marketing
Pricing
Distribution
Positioning Promotion
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ReviewReview StrengthsStrengths
WeaknessesWeaknesses
Brand Report CardBrand Report Card Revised BrandingRevised Branding
GoalGoal
Umbrella BrandingUmbrella Branding
StrategyStrategy Revised BrandRevised Brand
MessagingMessaging
Watch IndustryWatch Industry
Key BrandKey BrandComponentsComponents
Current BrandCurrent BrandStrategyStrategy
Image AssociationsImage Associations
Perceptual MapPerceptual Map
Competitive PositionCompetitive Position
Industry AnalysisIndustry Analysis
Opportunities &Opportunities &ThreatsThreats
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ConclusionRolex should introduce separate product lines with
different brand identities under the Rolexumbrella