Marketing Plan For RolexKrishanku BoseSoumita RoyBiswajit GhoshChandan Chowdhury

Globsyn Business School EPGDM - 01

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TopicsIntroductionBranding Marketing StrategyGrowth Plan and ForecastingNew HorizonConclusion

Introduction

BrandingWhen we think of Luxury Watch for example Rolex, we think of the celebrities or movies e.g.Roger FedererPaul NewmanJames Bond MoviesEdmund Hillary

Developing a brand strategy can be one of the most difficult steps in the marketing plan process. It's often the element that causes most businesses the biggest challenge, but it's a vital step in creating the company identity. The brand identity will be repeatedly communicated, in multiple ways with frequency and consistency throughout the life of The business.

Marketing Strategy

Growth Plan and ForecastingEducate the younger market on the value of wristwatches.Create a social media strategy that will encourage users to interact with the brand as well as extend the message to a larger audience.Promote the purchase of wrist watches as a reward for key successes in a young mans life.Promoting a Brand Ambassador which can create an appeal to younger generation.

Growth Plan and Forecasting

Plan of Action

Traditional Media

Magazine Advertisements (Maxim, GQ)Billboards (Strategic placement of Billboards)Ads at Sporting events (ISL, IPL, EPL)Sponsorship of music concerts (NHK Weekenders)

Social Media

TwitterFacebookYouTubeRevamping the Brand WebsiteForecastingIncrease daily production by 10% Increase sales profit percentage to more than the percentage of population growth per year

New HorizonMarketing Plan for NigeriaWhy?Oil Rich Country with young entrepreneurs.Highest purchasing power in Africa.

How?Celebrity Brand store in LagosAdvertisement in Local MediaSponsoring the Nationwide events

Conclusion

This plan summarizes the main points of how Rolex will market their wristwatches to a younger generation than the current target market. This expansion will allow Rolex to move into an untapped area that needs education on the value of a high-quality time piece. In order to properly address this objective, Rolex needs to update their marketing strategy to include a greater presence in advertisements that target this younger market as well as a strong showing in the social media realm.

Rolex has a long tradition of creating the standard for luxury in wristwatches. By adding a new segment of the population to their customer base, they will ensure that they continue their standard of excellence. Moving forward as technology evolves is key in achieving this goal.

Happy Rolex Buying