Marketing Strategy Essay

Words: 3329
Pages: 14
Open Document
“Quality Takes Time”

MARKETING STRATEGY
MKT 306

Tutor: Ms. Alison Watson
Due: Monday, January 10th, 2011

Table of Content

1.0 Brief History of Wrist Watch Industry

2.0 Executive Summary

2.1 Rolex Competitors

2.2 Rolex Marketing Tools and Techniques

3.0 Introduction

4.0 Situational Analysis (SWOT)

4.1 Situational Analysis (PESTLE)

5.0 Differential Advantages / Competitive Edge (USP)

6.0 Segmentation Targeting and Positioning (STP)

6.1 Rolex Competitive Positioning

7.0 Market Objectives and Goals

8.0 Marketing Strategies and Programmes (4 P’s)

9.0 Conclusion and Recommendations

Bibliography

1. 0 A Brief History on Wrist Watch Industry
The first wrist watch was invented …show more content…
For every series of awards, Rolex gives generous support to 5 Laureates and 5 Associate Laureates in their effort to expand knowledge and improve human life on our planet. The international programme promotes innovative projects in the fields of science, technology, exploration, the environment and cultural heritage.
To maintain its competitive advantage Rolex must employ a combination of marketing techniques and tools. It would be difficult for us to go in-depth with the analysis since we do not have all the details but we do have enough to make a skeletal framework of a marketing plan.

2.1 Rolex competitors: * LVMH Others Swatch Group S.A. TAG Heuer Intern. S.A.
Of all the listed brands, the Swatch Group is recognized as the world’s largest watch manufacturers, occupying the number one position in the industry

Figure 1.0 Watch Industry Brand Market Share

2.2 Rolex Marketing Techniques:
Target marketing: This technique looks at factors such as demographics (age, sex, location, income etc.), psychographics which looks at (personality: introvert/extrovert) and psychological which look at (the impression/feeling customers have towards the product). An assessment of this records and data will help the company to formulate its marketing programme.
Positioning: Rolex continues to create exceptional high quality products. Its position of #1 brand leader must be carefully maintained and managed.
Show More

Related Documents: Marketing Strategy Essay

Marketing Strategy In Marketing

product successfully and target the right market, several things have to be taken into consideration. In their book ‘Marketing strategy & competitive positioning’ Graham Hooley et al. state: The critical issues concerning current customers are: (1)…

Words 1760 - Pages 8

Chipotle Marketing Strategy

The WO Strategies in Table 3 shows that there is one more way to win back the faith from customers. By doing marketing promotion, Chipotle has spent many resources in growing technology, for instance, operating mobile apps, and social media platform. In operating mobile apps, Chipotle provide a quick and convenient way to order and pay from their apps, and pick up food in the nearest location from customers. That saves a lot of time for customers since they do not need to wait in the store. Moreover…

Words 165 - Pages 1

Marketing Strategy Essay

Name: Institution: Course: Professor: Date: Marketing The external factors which influence consumer behavior are referred to as culture. For any marketing strategy culture and subculture are vital considerations. Subculture involves factors such as morals, custom, belief, and other capabilities that a person acquires as a member of society. A subculture is any form of pattern that preserves a dominant society’s important features but provides norms, behaviors and, values of its own. Professional…

Words 1476 - Pages 6

Paytm Marketing Strategy

Marketing Management -1 Group Project Analysis of Paytm marketing strategy and market landscape Section 2 Group 2 ABHIJEET KISHORILAL CHANDAK FT162002 ANKIT VASANT GALA FT162016 CHUKKALURU VENKATA NARYANA REDDY FT162030 KAPIL RAMANI FT162046 P M RAJESH FT162060 REETU CHOPRA FT162074 SRIKAR MALAPAKA FT162089 VIGNESH GANAPATHY VENKATESAN FT162103 CONTENTS 1. Analysis of existing STP Strategy of Paytm 2. Environmental analysis (PESTLE) of Paytm 3. Challenges Paytm is facing currently…

Words 2934 - Pages 12

Bmw Marketing Strategy

SECTION IV. MARKETING STRATEGY Promotion Promotional Strategy: The Promotional Strategy for BMW of North America would be very simple and to the point, unlike other dealerships. We will put our products in the hands of the four promotional elements, which are, advertising, public relations, personal selling and selling promotion. These promotional strategies would be used to help promote the already known BMW product but introduce…

Words 1043 - Pages 5

Netflix Marketing Strategy

Marketing Objectives By updating our current video stream library more frequently with newer videos and with video genres that appeal most to our suscribers, we will retain our current 50 million members and gain new subscribers. Despite strong international growth in the past year, the US still accounts for roughly 65% of all subscribers. But through the addition of more popular foreign videos we will gain more international subscribers and increase revenue. Marketing Strategy…

Words 340 - Pages 2

Denny's Marketing Strategies

commercials that advertised the eclipsed and the “all you can eat Mooncakes.” I believe that this was a great marketing strategy as it was funny and was directed towards families. Through research, I found that Denny’s has a great MARCOM strategy. Denny’s wants their customers to feel welcomed and comfortable where family and friends can come together and have fun conversations. The Chief Marketing Officer, John Dillion, says that they accomplish this by using social media channels. The CMO states that…

Words 190 - Pages 1

Verizon Marketing Strategy

The Organization BUS620: Managerial Marketing Verizon Wireless is a great organization that is the epitome of generic marketing strategies and segmentation strategies. Throughout the wireless and communications industry organizations are forced to come up with different marketing strategies in order to bring customers into their network. According to Mullins and Walker there are, “three strategies - or competitive positions – that businesses pursue to gain and maintain competitive advantages…

Words 1022 - Pages 5

Sok Marketing Strategy

Integrated Marketing Communications Strategy Development for Sok Sok is a brand of Ein Natural d.o.o. founded in 2011. Sok is a juice brand. The philosophy of this brand is to produce natural juice without adding preservatives. Their motto is: ‘Nature in a glass concept’ The company's vision is to raise awareness about healthy lifestyle. The company invested in a land in the Eastern BiH and planted apple, pear, strawberry, and pomegranate trees over there. This reflects that it is a long term investment…

Words 1195 - Pages 5

Marketing Strategy Of Nike

and fitness industry also proceeds with some appropriate strategies. Nike is considered to be one of the top 10 companies in fitness business. Let us take an example of the company Nike to illustrate the marketing, segmentation and positioning of this company. Segmentation Nike is mainly famous for making specially sports apparel. People play different kinds of sports. Keeping this in mind, Nike needs to segment their business strategies. Geographical segmentation: Companies do their research before…

Words 801 - Pages 4