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Q. Which need & want the selected brand satisfy?

Needs are basic human requirements. People have different needs like air, food, water,
clothing, shelter. They even have need for recreation, education and entertainment.
When these needs are directed to specific objects they become wants.
Rolex satisfy the peoples need of getting watch to know time. It also satisfies the want of
getting a stylish watch which is good in facilities and provides a status symbol.

Q. What are the variables that define value for the customer of brand?
Value reflects the sum of the perceived tangible and intangible benefits and costs to
customers. It is a combination of quality, service and price. Value increases with quality &
service.
Variables that define value for the customer of Rolex are:
Best quality, reputation, style, commitment to excellence

Q. Identify atleast five competitors of the selected brand


Omega
Tag
Citizen
Jaeger-le coulter
Movado

Q. Comment upon players involved in the supply chain of the brand

The origins of a companys products used to be pretty murky. Beyond


the supply chain function, virtually no one cared. Of course, all thats changed. Consumers,
governments, and companies are demanding details about the systems and sources that
deliver the goods. They worry about quality, safety, ethics, and environmental impact. So it
has opaque supply chain.
Few people could actually tell the difference between an authentic and a top-end fake Rolex
watch or Louis Vuitton bag. It does not import raw materials they do their own production.
At Rolex, men and women who service and produce these machines are
considered artists, who blend both science and design to create these master pieces of art.

They understand the interplay between all the materials used, and combine all the thoughts
needed to create an object that is a reflection of care and intent. At the end, they believe that it
is a piece of living art that is greater than the sum of its parts. Furthermore, and this is the
heart of Rolex, people who work on watches are very passionate, have incredible ideas and
are always excited to produce such products.
Another technique the company has employed is a tight control in its supply
chain. Rolex only allows watch retailers to sell at most two watches a year. This ensures that
the supply of Rolexes will never outstrip the demand.

Q. Identify various marketing environmental factors affecting the selected brand


and identify the impact of these factors on companys marketing activities

Political and judicial environment: dependence on world economic situation (US,


Asia), counterfeit issues, Swiss made label difficult to obtain strict rules
Social-cultural environment: watch is regarded as multidimensional product-sport,
jewellery, fashion, etc. :- very diverse customer:- limited shopping- buy a watch as an
investment or for a particular occasion
Technological environment: watch producer requires high spending on R&D,
innovation key to development of new markets and clients, constantly upgraded
product, localization of production centre in watch environments

Q. Out of different concepts of marketing (philosophy of marketing) which is


more applicable for marketing of selected brand
The marketing concept is applicable here. It emphasis on the needs of consumers.
It emphasis on consumers view. Here the satisfaction of the customer is the primary motive.
It is external and market oriented. It has the sense and responds philosophy. Marketing view
customer as the very purpose of the business. It is a function that converts the consumer
needs to product. Here long term strategic planning is done. Even new products and markets
are considered. Future growth is an ultimate aim.

Q. Identify which category (consumer or business) the brand falls & discuss the
buying process
Rolex falls in category of consumer product. So its buying process is as follows: Problem recognition:- first the consumer recognizes need for a watch either for his
own wish of having it or he may have got influenced by seeing others wearing
watch.
Information search:- he will then collect information from various sources like
personal (family, friends, neighbours), commercial (web sites, advertisements,
displays) and public (mass media).
Total set
Rolex
Omega
Tag

Awareness
set
Rolex
Omega
Tag

Consideration
set
Rolex
Omega
Tag

Choice set
Rolex
Omega
Tag

decision

Citizen
Jaeger-lecoulter
Movado
Titan
Timex
Maxima
Swatch

Citizen
Jaeger-lecoulter
Movado
titan
Timex

Citizen
Jaeger-lecoulter
Movado

Evaluation of alternatives:- the consumer arrives at attitudes toward brands


through an attribute evaluation procedure. He will develop a set of beliefs about
where each brand stands on each attribute and then make decision
Here the consumer may give weight to the attributes as follows:Style: 20%
Status: 25%
Price: 10%
Quality: 25%
Innovation: 20%

Brand
Rolex
Omega
Tag

Style
9
8
7

Status
8
7
6

Price
5
7
8

Quality
9
6
6

Innovation
8
6
5

Now he will calculate the value from selected brands as follows:


Rolex:
0.2(9) +0.25(8) +0.1(5) +0.25(9) +0.2(8) = 8.15
Omega: 0.2(8) +0.25(7) +0.1(7) +0.25(6) +0.2(6) = 6.75
Tag:
0.2(7) +0.25(6) +0.1(8) +0.25(6) +0.2(5) = 6.2

Purchase decisions:- after discovering the value the consumer may decide to
purchase a brand. This purchase decision is affected by two factors. They are:
1. Attitudes of others- here the consumer may change his decision as others have
negative attitude towards his selected brand.
2. Unanticipated situational factors- here the consumers decision might get
affected due situations such as decrease in income, misbehaviour of the sales
person, any other purchase may be more important at that particular time.
Post purchase behaviour:- after making purchase if the consumer is satisfied he
will tell it to others to buy watch of that brand only or else if he is dissatisfied he
may become disloyal to the brand and even may return the watch.
The Rolexs marketer must even tell customers about its use and dispose.

Q. Also discuss the factors affecting buying process


The factors affecting the buying process are as follows:

1. Cultural factors: here the individuals buying behaviour depends on the culture of
their family and sub-culture. Even social class also affects the behaviour as different
class have different brand preference.
2. Social factors: here the consumers behaviour may get affected by the opinion of his
family, friends, neighbours and co-workers. Even they are affected by the aspiration
groups and dissociative groups. Here the consumers roles and status also play
important role.
3. Personal factors: here the consumers occupation and economic circumstances affect
his buying behaviour. Even the life style and personality of the consumer affects his
behaviour.
4. Psychological factors: the consumers buying choice is manly affected by the
motivation, perception, learning and beliefs. A motivated person will readily make
decision for purchasing the Rolex watch.

Q. Identify which segment the company is targeting for the selected brand
Rolex targets the upper uppers, upper middles, and upper lowers. It even targets the high
income group people, who can pay high for getting a high status watch and those who want
good quality watch.

Q. Identify other possible segment (basis of segmentation) the company can


select for its brand
Rolex can also target the segment on the basis of personality, user status and loyalty status.

Q. Identify which level of segmenting is done for the selected product. And find
other level of segmentation is possible or not? If yes-why? No-why?
NICHE MARKETING:
It has a Niche audience
Targets the Young and young at heart and people who are fashion conscious but are price
sensitive. It is attractive as its customer has a distinct set of needs. Its customer pay premium
as it best satisfies their needs and it gains economies for its specialization. The marketing
efficiency increases.

Q. Identify the positioning of the selected brand. Comment upon companys


positioning strategy. Is any alternative positioning possible? If yes, discuss. If
no, why?
The positioning of Rolex is the crown of achievement. Rolexs prestigious
position in the timepiece market has also enabled it to escape the precipitous drop in the
worldwide sales of wristwatches. The rise of the cell phone and hand held device has made

checking the time a trivial matter. As a result, cell phone usage has increased and wristwatch
sales have declined. Rolex has largely escaped this fate due to its position as a status symbol.
While it is true that Rolex makes a superb timepiece, a large part of the Rolex appeal is the
message of prosperity it sends. Bluntly put, a Rolex is a symbol of success. The exclusive
price tag and brand status of the watch keeps the Rolex on a playing field all its own, immune
to advances in technology and the trends of the moment. No, other positioning is not possible
as it may not have such strong effect which the present one has.

Q. Identify the variables used for brand differentiation by the company for
selected brand. Comment upon companys brand differentiation.
PRODUCT DIFFERENTIATION:
Form: - Rolexs size, shape & physical structure is different from others.
Features: - its features are also unique.
Performance quality: - performance quality of Rolex is good. It has improved technology &
also provided the facility of waterproof and dustproof watches.
Conformance quality: - it has a high conformance quality. It is identical and meet the
promised specifications.
Reliability: - here the buyers pay high premium for high reliability. It does not malfunction or
fail within a specified period.
Style: - Rolex is the most stylish watches. It creates distinctiveness and avoids the duplication
and difficult to copy.
Design: - the design of Rolex is also unique. It creates different value for the customers and
describes how it look, feeling of customers.
PERSONNEL DIFFERENCE:
Competence: - the employees her know what they should know and what they should do.
Courtesy: - employees are courteous and even they very well know how handle the different
situations
Reliability: - the employees are very much reliable and even their work is up to the mark.

Q. Discuss & comment upon points of parity & points of difference for the
selected brand. Mention if any other points of difference is possible. If yes,
explain how?

PONTS OF DIFFERENCE:
Quality
Commitment to Excellence
Reputation
Manage demand
Swiss-Made
Mechanical Movement
Advertising

POINTS OF PARITY:
Expansion of Luxury Brands
Maintain Exclusivity of Brand
Desirability Diminished
Relative to other Luxury Brands
Lower Price Levels
Market Share Snapshot

BRCM COLLEGE OF BUSINESS


ADMINISTRATION
ASSIGNMENT 2013-2014

SYBBA SEMESTER 3

NAME: SONALI HASANI


ROLL NO: 48
DIV: 1ST
SUBJECT: MARKETING MANAGEMENT
TOPIC: Rolex
SUBMITTED TO: PRATIK SIR
SUBMITTED ON: 17TH OCTOBER, 2013