Digital Marketing Strategy

Rolex

Rolex Target Market Audience

The target Market for Rolex would include rich buyers who sort after uniqueness, high caliber and selectiveness.

Rolex has placed it products in the luxury market and is targeted to both men and women aged 35 and over.

(Pappchan, 2016)

Market Segment: 21 to 35 year old guys living in the United States who have as of late found a lucrative occupation, earned an advancement or got a reward. These are young fellows who need to flaunt their newly discovered status. (Pappchan, 2016)

This unique brand has a remarkably diverse customer base that includes sportspeople, artists, business people,

and others from a wide range of spheres.

4 personas

Persona 1: Is an ambitious middle aged businessman with a large disposable income in a high paying job. He works in a metropolitan city and has lots of business meeting with high status clientele. He makes lots of high value purchases such as cars and doesn’t spend too much time deciding on a purchase. He enjoys purchasing the latest technological trends, using popular social media and enjoys the status that he has which is reinforced by owning an expensive watch. He is likely well educated where he was surrounded by wealth and the showcasing of it and desires a rolex to showcase his success. Overall, his main driving behavior is related to showing his status when surrounded by people with similar income to be able to spend on such purchases frivolously.

Persona 2: Is a older gentleman who whilst not having the same level of disposable income but has reasonably saved to make an assured purchase that he has waited a long time to have. It has been a long term goal to own a Rolex and he has checked lots of different websites and second hand watch shops to ensure he gets a good deal and the best price for his purchase. He has been relatively successful in his career and now he's retiring he is treating himself to a potential future heirloom. His reasoning for purchasing is less based on the status associated but to the personal achievement that he has worked towards. He is less likely to use social media channels so needs to be targeted in other ways.

Persona 3: Is a highly successful woman with a large disposable income. Potentially in the public eye and therefore image is important to them. Likely to live in a major city and make an impulse purchase either instore or online. Being at public events gives the opportunity to parade the watch when photos are being taken which will give a perception of class and other connotations that Rolex has.

Persona 4: Is a wealthy young man with disposable income who needs to flaunt their status either acquired from family or job. They use social media a lot and can use the watch in posts to change the perception of them. This could attract advertisers to offer further promotions to them and consequently result in brand promotion and paid advertisements resulting in further money for jobs. This could then be seen as an investment for a modern day social media influencer.

Identify digital technologies and channels they are more likely/unlikely to choose

By providing a channel to promote their products, services and transparent messages, Rolex are more likely to use

social media. Rolex have always had a very product and PR-oriented social media strategy, such as Instagram,

twitter and Facebook.

Rolex are more likely to use the intermediary channel structure

Rolex are more unlikely to use reintermediation channel structure

Digital technologies and channels used by Rolex

Rolex currently has a youtube, Instagram, Facebook and Twitter accounts.

Uses Celebrity and Sports Entities such as Roger Federer and Tiger Woods to showcase their watches on Social Media

Rolex advertises their brand in the locations where they are complemented such as Wimbledon.

History:

In 1927, for example, Mercedes Gleitze became the first British woman to cross the English Channel. She did so wearing a state-of-the-art Rolex Oyster, the first waterproof watch ever invented.

In 1935, British race car driver Malcolm Campbell broke the world’s speed record at the Bonneville Salt Flats in Utah whilst wearing the Rolex Oyster

In 1953, Rolex provided an Oyster Perpetual Explorer to Sir Edmund Hillary and Tenzing Norgay became the first climbers to reach the summit of Mount Everest

How was Rolex able to establish themself as a luxury brand using technology?

Rolex tends to focus more on their product positioning through popular influencers by

connecting their brand to actors in movies, reflecting their brand persona or celebrities that

have similar traits to the persona and brand positioning rolex strive to represent.

Rolex established themselves as a luxury brand since the 1950s, when Ian Fleming, writer

and director of James Bond’s Casino Royale, intently place rolex on the james bond actor

and beside that he also placed Rolex beside established luxury brands like Bollinger

Champagne and Bentley.

By doing this Rolex was able to identify their marketing persona through the big screen and

people who liked the film. Also by putting their brand with other luxury brands, rolex were

able to set themselves as one of premium and of a luxury product as well.

Gaps that offer an opportunity for Rolex to improve

Start online sales and deliveries

New Watch Shape and dimensions

Create a new product line under the parent company of Rolex to attract more and new customers

Build a Limited edition watch and in small quantity

Expand in the transport industry: Transport industry is booming and adding their watches in the high end cars such as Tesla, RR, Bentley can improve and expand their market shares

The government has also announced a subsidy on the sale of environmentally friendly goods in this sector. Rolex can focus on these environmentally friendly products and make use of this opportunity.

Target business as well as the individual customer

Improve the social media presence

Globalisation: Expand the production of the watch in different countries as well other than the home country.