Being one of the oldest and famous brands for watches, Rolex constantly makes a pitch for its marketing. Customers have raised their standard in choosing the best wristwatch they have always dreamt of. Thus, since the 19th century, Rolex has become one of the most treasured parts of jewelry and heirloom of all time.
Whether it is brand new or pre-owned, the Rolex watches do not age that fast and make a long and lasting relationship with the wearer. It is no doubt that this luxury brand is perfect for investment.
A Brief Rolex History
In 1905, Hans Wilsdorf and brother-in-law Alfred Davis established a company in London that imports watches to those who wanted to be known in Swiss movements. Three years later, Hans Wilsdorf had finally ensured the Rolex brand name as he had envisioned a great future of their brand marketing.
Recognizing Rolex In The Market
More have run after the influence of Rolex watches since it never changed from its birth. The only fearful thing is when the graph goes down under the line. However, the brand manages to sustain its name in the market and grows its value for luxury.
The endowment of valuing luxury is a superb status in which people are very indulged. It is
because of the brand’s exclusiveness and influence for collectability.
Rolex’s Market Segment
The price of Rolex is undeniably expensive because of the incorporated material and reliable movement. The target of this brand is the rich people. Most especially if they want to subtly show their wealth and power. Most owners are men, those who are a celebrity, and sports patron.
US, Hong Kong, China, France, and Singapore internationals make 50% of the marketing status of Rolex. These targets are interactive in terms of the newly released model in the several known collections of Rolex.
Positioning of the brand
Positioning is a strategy in marketing to achieve the standards of customers who focus on attributes, quality, price, and class. Rolex participates in the marathon with other competitors too, as it seamlessly launches amazing and controversial designs for watches.
The promotion of Rolex is unstoppable and they are always on the hatch from magazines, brochures, newspapers, televisions, movie films, and social media through known celebrities. Rolex vouches for a man’s success.
Scarcity Marketing and Differentiation
Rolex targets smaller markets. Those who are capable of paying a premium to have this kind of watch. There are a limited number of distributors to make Rolex unique and more exclusive without compromising the quality.
The brand does its best to never let customers encounter duplications, most especially if these watches obtained are pre-owned. What makes Rolex a world-class brand is the determination to create wristwatches with reliability, upgrade, and strength.
The Social Media Marketing
The performance of Rolex in social media is dynamic, and its total fans are about 7 million. Rolex has engaged social media through 10 profiles. There are two accounts for Twitter and Instagram, one account for YouTube Channel and LinkedIn Accounts, and 4 Facebook accounts.
It speaks virtually for the brand’s name. Rolex believes in the attentiveness and interactiveness of social media people. Rolex, as the toast of the town, has introduced to the social media platform documentaries about topics for the brand, new releases, and the volume of Rolex watch enthusiasts.
The SWOT Analysis Of Rolex Brand
Rolex has a strong reputation when it comes to quality and excellent commitment to its well-known name. It was born in a Swiss land where luxurious watches started. It has many loyal customers around the globe because of the priceless mechanical movement.
Although Rolex has many collections, the style is limited. The launched designs are still on the line of the collection with upgraded mechanical movement through its certified chronometer.
Rolex may have limitations in styling and designing because of its uniqueness, it is still capable of expanding luxury brands. It can retain its original price or can get a go signal for lower pricing. Rolex can be a medium between the young generation and the dream of gaining an award for one’s effort. It is an investment that no one will ever regret.
Rolex is very expensive, and that has been a fact for those who desire it or those who cannot afford it. Customers who are more on cheaper brands may influence the loyal ones because of their views on Rolex class and fanciness.
There are many brands of watches that might threaten the market growth of Rolex. It can lead to product substitution as well.
Acknowledging the worth of your hardships, successful commitments, and memorable journeys, Rolex is the best watch you want to grant for yourself. Though there are other brands out there striving to come up with more designs, Rolex will never disappear under the spotlight. It will always shimmer and highlight the best moments in your life.