Digital Marketing Strategy

ROLEX Digital Marketing Strategy Presentation

Paying staff, recruitment of new staff via web, absence management, management structure (People)

New technology often uses digital technology in some way such as production machinery, internal and external communications systems, accounting etc (Process)

Often undertaken digitally using web, intranet and extranet sites (Product)

Product – digital products & enhancing products with digital technology, design and development of new products, digital products

Distributing products to consumers i.e. via website, intermediaries

Communicating with consumers about products via e-mail, social media, maintaining customer databases

Installation, Enhancing and maintaining the product

OUTBOUND LOGISTICS:

Rolex uses retailers dotted at individual locations but you can configure your watch and customise it on the main website before

This allows them to control the price which maintains the integrity of the brand.

Second hand websites are available but do not sell new watches, this is difficult to manage and poorly looked after watches could affect the brands image.

This allows the customer to trust the company along with the warranties offered when making a purchase.

Service

Rolex maintains an extensive of service centres to repair or maintain your watch. They are found on the website.

They are carried out by expert affiliates.

Watch is explained to go through servicing process where videos and pictures explain how the watch is serviced.

Online videos and help sheets are also provided on the website to accurately assist the customer with the maintenance of their device. This levels a fair amount of transparency to the customer about the way the watch will be treated and could result in the customer feeling they can trust the company with every aspect of the watch without going to external watch specialists.

Rolex Operations

Rolex focuses on the integrity and the quality of their product, and has achieved a consistent product overall quality throughout the times of their establishment. They take care of quality control by having the entire operations of making a watch straight in their factories, from having their own science lab, hand assembled rolex movement to their own foundry for melting gold for the parts needed in production. Their attention to detail and focus on quality control attracted many watch collectors and so with that the the demand outweigh the supply and thus making certain watches grow in intrinsic value rolling over more watch collectors and watch enthusiast to the brand.

Rolex also actively balances out their supply and demand by pulling stock from their partnered dealers to increase scarcity

Marketing and Sales

Marketing and Sales: Despite the few interactions people have with Rolex, compared to its fellow high reputation brands like Google and Disney, Rolex has succeeded in keeping their product not only in a state of high-regard among consumers, but also on their minds.

With their online following of over 13 million people on 5 social media platforms across Twitter, Instagram, Youtube etc, Rolex is able to introduce new Collections of its watched and be assured of the express reach to its customers.

Their loaded website incorporates a section of FAQs which aids consumers get a quick answer to their questions without directly contacting the brand and a Newsroom were the latest information on the brand can be found.

Human Resources Management

In 1984, Rolex was the first company in Geneva to take on watchmaking apprentices. Since then, it has trained hundreds of people of different ages and backgrounds. Apprentices are selected following a rigorous recruitment process that evaluates their intellectual and manual abilities, as well as their soft skills. Today, more than 170 teenagers and young adults are part of an apprenticeship programme at Rolex, learning one of 15 possible trades, in either Geneva or Bienne.

The training of these future professionals combines periods of practical training within the company and theoretical classes in a vocational college each week – in line with the legal framework governing apprenticeships, which are very popular in Switzerland. The importance Rolex places on this “dual” education system and its evolution has led the brand to become actively involved with relevant official governing bodies.

The Rolex Training Centre provides, on an ongoing basis, courses dedicated to apprentices and continuing training modules that teach employees about the company’s history, culture and values, as well as its watches. The centre also dispenses all other Rolex training programmes available to employees over the course of their careers, from the acquisition and development of technical expertise to management skills. Internships are also offered to students in higher education. Each year, around 100 apprentices, 100 interns and almost 3,000 employees from the three sites in Geneva benefit from the services offered by the Training Centre.

Rolex is the existence of an in-house foundry. The metals used by Rolex are all melted and mixed into unique alloys at the Rolex factory. Rolex is one of the few watchmakers to do have a foundry producing platinum and gold. The gold comes in three shades — white, yellow and everose, a shade of pink gold that is exclusively used by Rolex.

Rolex exclusively uses 18 ct gold, a princely alloy composed of 750‰ (thousandths) of pure gold, plus exactly the right mixture of elements including silver and copper necessary to produce the different types of 18 ct gold: yellow, white and Everose, Rolex's exclusive pink gold alloy. Jealously-guarded formulas ensure exceptional durability, polishability – and an extraordinary sheen that lasts for generations.

Rare and precious, considered the noblest of metals, platinum is striking for its silvery whiteness and its vibrant luminosity. Over time it has become the ultimate metal of prestige, with the ability to showcase precious stones like no other material.

Rolex uses 950 platinum, an alloy consisting of 950‰ (thousandths) of platinum generally combined with ruthenium. This allows the metal to be robust enough to be used in watch cases, while maintaining its legendary shine and brilliance.

Procurement

Technology development

Rolex is deeply associated with status, history and tradition. They have a reputation as a luxury brand to dedicate their products to perfection and to innovate constantly, below are a few examples of how Rolex achieved this.

1. 1. The Syloxi and parachrom hairsprings - The original advance in hairspring technology arrived in 2000 with the Parachrom hairspring in the caliber 4130, the first in-house Daytona movement.

2. The Chronergy escapement- In conjunction with the development of new hairspring technology was the introduction of the Chronergy escapement, a marvel of modern engineering that increased movement efficiency by 15%.

3. The GlideLock clasp- The Glidelock clasp represents a leap forward in terms of clasp technology. Having the flexibility to adjust the fit up to 20 mm in 2 mm increments is priceless, especially since no links need to be removed or added for a better fit.

4. The OysterFlex band- The elastomer is molded around a precious metal bracelet for strength, and how the interior gussets uplift the bracelet just above the wrist for increased and improved airflow

Technology progress is quite essential for Rolex to have economic growth and development, furthermore the combined growth of technology and prototyping capacity has made achievable innovations; allowing more efficient production of better goods and services.