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Rolex Brand Audit Essay

4488 words - 18 pages

Brand Management
Brand Audit
Term Project

Contents

Brand Audit 4
Brand Inventory 5
History 5
Company Profile 5
Collection 6
Current Positioning In The Marketplace 7
Communication strategy 7
Celebrity endorsement 7
Mystery 8
Product-Related Attributes 8
Pricing and Distribution Strategy 9
* Brand report card 9
Brand Exploratory 10
Customer Knowledge 10
* Perceptual Map 10
* Image Assosiations 10
Current Sources of Brand Equity 10
Rolex Ambassadors 11
Sports & Culture 11
Philanthropy 11
* Rolex Awards for Enterprise 11
Rolex Young Laureates Program 12
Mentors and Protégés 12
The Customer-Based Brand Equity Pyramid (CBBE) 12
...view middle of the document...

Ever since its creation, Rolex has consistently focused on establishing the renown of the Rolex brand worldwide, ensuring that the Oyster is far more than a passing trend. To safeguard its reputation for quality and reliability, Rolex has created a global network of specialists who alone are qualified to guarantee Rolex owners worldwide of the authenticity of their watch and the dependability of the features which ensure its longevity.
Brand Audit
The Rolex brand audit will consist of:

We will conclude by giving some recommendations to further enhance the positioning and strengthening brand equity.

Brand Inventory
History
Rolex began when German born Hans Wilsdorf and his brother in law, William Davis, founded the London based company, Wilsdorf & Davis in 1905. In 1908, Wilsdorf made up a logo and a name that was easy to pronounce in every language and short enough to figure on the dial of the watch, hence, the birth of Rolex. He registered the brand in Switzerland. In 1910, Rolex sent their first movement to the School of Horology in Switzerland. It was awarded the world's first wrist watch chronometer rating. Rolex created a timepiece that was small enough to be worn on the wrist.  

Among the company's innovations are:

* The first waterproof wristwatch "Oyster"
* The first wristwatch with an automatically changing date on the dial (Rolex DateJust)
* The first wristwatch with an automatically changing day and date on the dial (Rolex Day-Date)
* The first wristwatch case waterproof to 100 m (330 ft) (Rolex Oyster Perpetual Submariner)
* The first wristwatch to show two time zones at once (Rolex GMT Master)
* The first watchmaker to earn chronometer certification for a wristwatch
Company Profile
Rolex has a very particular status; it belongs to the Wilsdorf trust and therefore cannot be sold. Rolex has always had the ability to privilege a long term development strategy. They do not have to deal with the pressure of shareholders who require short term benefits in order to show a profit from their investments through the redistribution of dividends. On the contrary, Rolex has the opportunity to reinvest the benefits in the company to improve distribution and after-sale services and to increase research and development. What is more, they are not pressured to follow the general trends of the industry in order to content shareholders. As an example, Rolex is the only big player that is not following a multi-brand strategy.

Another particularity of Rolex, partially linked to the previous one, is that the company is as hermetic as its main model, the Oyster. In fact, due to its organization, the company does not have to publish financial information and top executives are usually very discrete and do not give interviews. As a result the company is extremely secretive and all the numbers presented hereafter are only estimations.

Rolex employs about 6000 persons worldwide of whom 3300 employees...

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