Modern Marketing Methods for Rolex

This assignment explores the necessity for Rolex to adopt modern marketing methods to attract more customers. With over 70% respondents favoring this approach, it's clear that innovative strategies are crucial. Recommendations include effective use of online tools, implementation of cloud technology for secure information storage, and improved communication among company functions. The researcher faced challenges such as insufficient time and budget during the research process.

Managing successful
business

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Project objectives and aims...............................................................................................1
P2 Project management plan covering aspects of scope, cost, quality time, communication and
risk .........................................................................................................................................3
P3 Gantt chart and breakdown structure and to provide stages and time frames..................4
TASK 2............................................................................................................................................7
P4 Carry out research with different research methods..........................................................7
TASK 3............................................................................................................................................9
P5 Research analysis and data with appropriate techniques and tools...................................9
P6 Recommendations in context with investigation to draw valid conclusion....................16
TASK 4..........................................................................................................................................16
P7 Reflection on the value of undertaking research to meet objectives...............................16
CONCLUSION..............................................................................................................................16
........................................................................................................................................................18

INTRODUCTION
In present modern era where various technology improvement are taking place at a fast
speed, has change the business activities. Basically various development of technology provide
support to business in their growth activities (Eckerson, 2010). If one will compare the
commercial activities of today' enterprise from earlier operations of business than that individual
can analyse number of variations. Digital technology provide an opportunity to enterprises to
collect, analyse and store huge amount of data which further help top manager to take decision
regarding business. Further, today enterprises use number of tools and techniques to
communicate with target customers. Rolex a established watch brand, which wants to enlarge its
business operations online is considered under this report for analysis. Different type of research
methods are applied in this report to draw valid conclusions and recommendations. Along with
this, project management plan with its specific aims and objectives and analysis of collected data
with effective use of various tools and techniques is all mentioned in this.
TASK 1
P1 Project objectives and aims
Due to changing needs and requirements of consumers at a fast become it become very
essential for enterprises to adopt new technology to offer them featured products and services.
Development of technology at a fast speed results in declining traditional market segment on
continuous basis. One of the major impact of technology on business activities is that it provide
support and guide top management in take right business actions and decisions. Facility of cloud
technology provide an opportunity to business managers to share huge amount of data from one
place to another with minimum amount of time. Further, technology provide number of
communication platforms to enterprises to easily communicate with its target markets and
influence more number of customers. All this directly contribute in increase both productivity
and profits of company (Crane and Matten, 2016). Use of new and updated technology demand
financial resources to invest in different tools and resources so company can execute business
operations in an effective way. Today large number of people use various platforms of social
media to communicate with each other and this help business enterprise to reach more number of
customers. Effective use of technology bring coordination and communication among various
departments of company. This help manger to integrate all important activities of business and
also provide grounds to find deviation if any exist in business activities. Major feature of
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technology is that it provide an chance to business to enhance quality of its goods and better
satisfy the needs and wants of its customers. Basically technology affect operations of business
in a positive way and this can be analyse by increase profits and quality of company's products.
Topic: How digital technology transformed business operations of an enterprise.
Background of project:
Due to number of technology advancement is taking place in business environment it
become more necessary for enterprise to adopt new technology and introduce change in business
operations accordingly. Concept of digital technology has changes a business activities a lot if
compare to business operations executed at earlier times. But this change affect the business
operation in a positive way as this help manager enterprises in maintain and enhance the quality
of its products and services and fulfil the requirements of its consumers (Smith, Binns and
Tushman, 2010). This decrease the complexity of business operations. Different technology used
by companies decrease the demand of account department and this reduce the risk of hacking of
relevant data. Facility of cloud technology ensure transfer of data form one place to another with
security which increase the safety of data. Further, this help enterprise to collect relevant data
from so many sources which guide manager during process of production. This ensure
production of product as per the specific requirement of customers. Various technology devices
such as mobile phones and various platforms of social media help enterprise to reach more
number of customers and increase its market share. But before start final execution of project and
activities included in that it is very essential for managers to set some particular aims and
objectives. This support management activities and help in fulfil the special requirement of
project.
Aims: Implementation of digital technology to transform business activities.
Objectives:
 To determine the effectiveness of digital technology on business operations.
 To analyse implementation of digital technology on activities of business. To examine the need of business transformation.
Research questions:
 How digital technology is effective in transform business operations?
 Why is is necessary to transform business activities?
 How implementation of digital technology will take place on business operations?
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P2 Project management plan covering aspects of scope, cost, quality time, communication and
risk
Project Management Plan- It is an approved document which explains about implementation of
project, monitored and also controlled. It contains detailed documents and also consist subsidiary
management plans, base lined and also some of the other planning document.
For achieve set objective and goal it is very essential for enterprises to develop a project
management plan as this support and provide direction during execution of various activities.
Without this, company can not accomplish its set objectives and targets. One of the main feature
of this plan is that it ensure effective completion of various activities and at the same time
provide long term benefit to enterprise (Den Hertog, Van der Aa and De Jong, 2010). In addition
to this, it guide manager in in identify scope, cost, quality, resources and risk involved in whole
project. Basically a project management plan is a requirement to make the project a successful
one. Rolex wants to expand its business online with effective use of various platforms and tools.
Before taking any decision regard the final project it is very essential for manager to ascertain
following factors: Scope of project: Due to number of technology development and due to change in needs
and wants of customs at a fast speed. Today' business environment is full of growth
opportunities. This provide an opportunity to enterprise to create and offer different
products to number of customers and also expand business activities in new areas. In case
of Rolex firm can also expand its activities. As now enterprise is not limited to do
operation offline but now company can offer its products online too. Overall the scope of
this project is very wide. Risk management: Every project related with business involve some kid of risk so it is
very important that this must be consider and calculate by manager before start execution
of project activities. As in case of Rolex the firm is already a popular brand so the risk
involve in this project is very low. Further manager can determine and analyze various
factors of risk in order to attain positive results and maximum output. Quality control: Quality is one of the essential element of whole project and to achieve
to objectives and goals of project it is very essential for manager and whole enterprise to
maintain this factor during execution of various activities (Chesbrough, 2010). At
present Rolex offer quality products to its customer and it is very important for managers
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to keep the same in order to get number of advantages and to achieve growth of
company. This will directly increase number of profits of company and its customers. Cost: Cost of this project is very high as firm will require number of amount to be invest
in various equipments and tools. So for effective execution of project its is very essential
for firm to have adequate amount of funds. Time: To achieve effective completion of project, it is very essential that all actions
involved in project must be completed in time (Ahmed Dine Rabeh, Jimenez-Jimenez
and Martínez-Costa, 2013). Timely implementation and completion of various
operations decrease project cost and help enterprise to attain desired outputs. This can
be achieve by managers of Rolex by set a specific time period for all activities.
 Communication: For achieve set objectives of project, it is very essential that there must
be effective communication among various departments include in whole project. All
roles and responsibilities of individuals include in project must be clear.
All these are the main elements which must be consider by manager to formulate a
effective project management plan in order to achieve effective implementation of various
activities. This help in increase positive image of company and at the same time provide number
of advantages to company. Managers of Rolex can make a project plan in order to execute all
activities of project in an effective way.
P3 Gantt chart and breakdown structure and to provide stages and time frames
Gantt chart- It is graphical depiction of project schedule. It is a kind of bar chart which
shoes about begin and completion dates of many components of project which involve
milestones, resources and also dependencies.
Research play a big role in whole project as this help manager in collect different ideas
and opinions of other about topic. All this support manager in make an effective decision. One of
the main feature of action plan is that it provide direction and ensure maximum utilisation of
various resources (Gebauer, Edvardsson and Bjurko, 2010). It is very essential for manager to
conduct a deep study to effectively examine understand about various factors of project and deal
with all issues. Main steps include in carry out a research includes the following:
 Identify the main reason and cause to conduct the research.
 Literature review
 Clarification of problems
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 Define main concept of project
 Select respondents on which research will be execute
 Formulate instrumental plan
 Analysis of data
Every type of research include all activities, research based on topic digital
transformation will also include the same. All this help investigator to collect adequate
information about the topic. As Rolex wants to expand business operations online so with help of
these steps manager can collect information whether this will be helpful for business or not. For
that respondents will be selected form whole population to carry out research. Literature review
will also conduct (Trimi, and Berbegal-Mirabent, 2012). Views and opinions of various
respondents help in carry out research in an effective way. To carry out research company will
choose 20 respondents by use random sampling method. Gathered information will be used by
investigator to take future decisions about its online expansion.
By consider all these steps an action plan will be formulate by researcher consist fix time
to complete every task. All this will contribute to get more appropriate output. Primary sources
of data collection will be use by Rolex in which company will formulate a questionnaire consists
10 question which will be asked by every respondents. Number of chosen respondents in this
research is 20. It is very important for researcher to carry out various activities by consider the
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final data complete a activity (Jones and Lubinski, 2012). Digitalisation in business is not a easy
task so it is very essential for manager to collect more information on this in order to formulate a
better action plan. Action plan formulate by investigator for digital transformation and the time
frame set for each activity can be understood by figure given below:
This given plan will be followed by Rolex in order to provide direction to all activities
included in plan and to accomplish set results and objectives. All this will guide and support to
managers about take right decision regarding expansion of business activities in an effective
way.
TASK 2
P4 Carry out research with different research methods
For censure effective execution of research it is very significant for researcher to choose a
right method and follow the same during execution of whole research in order to achieve better
outcome. With help of various methods of research, investigator can convert the research into an
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analytical study which will further help in make the decision process more effective. Basucally
there are two main sources of gather data which can be used by investigator for any kind of
research which is known as primary and secondary.
Both techniques of collect data help researcher in collect relevant information about the
topic of research in order to draw recommendations and valid conclusion. Both methods will be
used by Rolex in gather important information and support about the decision of business
expansion. Further, main techniques a investigator can adopt for execute research includes the
following:
 Qualitative
 Quantitative
 Analytical
Basically researcher use qualitative and quantitative methods in order to get positive
findings of study. To make the outcome of research more effective primary and secondary
sources of gather data can be used by investigator.
 Primary data: This is one of the very effective and popular technique of collect
information. Main feature of this approach is that it support investigator in collect fresh
and new information that help in draw better conclusion about research. Under this
researcher use methods such as questionnaire (Smith, 2011). Survey, interview and many
more. Questionnaire design by Rolex to get opinions of 20 respondents. This will support
organisation in collect more accurate data.
Questionnairie
Name:
Gender:
Age:
Contact no.:
Email-id:
Q1) Is digitalisation provide any kind of advantages to enterprise?
 Yes
 No
Q2) Does digitalisation provide any kind of long term benefits to company?
 Yes
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 No
Q3) Does digitalisation affect business activities in a positive way?
 Yes
 No
Q4) Is digitalisation is necessary for Rolex as per the conditions of current business
environment?
 Yes
 No
Q5) Is it essential for Rolex to implement transformation in its business operations?
 Yes
 No
Q6) Do Rolex has adequate mount of funds and resources to store huge amount of data?
 Yes
 No
Q7) What will be the future impact of digitalisation on business operations of Rolex?
 Positive
 Negative
 Can't say
Q8) Is bind business activities is essential for Rolex in order to reduce red tapism?
 Yes
 No
Q9) Which mode of marketing should be used by Rolex for undertake its promotional
activities?
 Traditional method of marketing
 Modern method of marketing
Q10) Any recommendation for Rolex relate with implementation of digitalisation.
Secondary data: Different sources of collect secondary data are there which can be used by
management of Rolex in order to gather relevant data. In this various tools such as books,
magazines, articles and many more are used by researcher in order to collect inomation about the
topic of research.
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Case study one: Management of Rolex so various efforts to introduce innovation and add more
features in product in order to attract more number of customers. Mission of enterprise is to
capture a lager market share and to achieve the same company is doing various efforts.
Case study second: One of the main feature about watches of Rolex are that these are very costly.
Only those individuals can purchase this who want to show their wealth. In this situation aim of
enterprise is to produce watches so that middle class individuals can also buy this. For promotion
and to attract middle class individuals company can use various social media platforms.
By add new and more features in its watches company start undertake its promotion on
various social media platforms. Overall concept of digitalisation provide positive impact and
contribute more in growth and success of company.
TASK 3
P5 Research analysis and data with appropriate techniques and tools
It is very significant that gathered data must be presented in an effective way as this add
effectiveness in decision making process of enterprise (Incelli, 2013). Same in the case of Rolex,
firm have to interpret the data collected from research in order to draw valid conclusion form
whole activity of research.
Theme 1: Digitalisation provide advantage to business
Q1) Is digitalisation provide any kind of
advantages to enterprise?
Frequency
Yes 17
No 3
9

Yes No
0
2
4
6
8
10
12
14
16
18 17
3
Interpretation: Form the above given graph, it can be concluded that as per the point view of 17
respondents digitalisation provide advantages to business enterprise. This help manager in do
advertisement of company's products and services in an effective way. On the opposite of it 3
respondents conclude that digitalisation does not provide any kind of advantage to enterprise.
Theme 2: Digitalisation offer long term benefits to company
Q2) Does digitalisation provide any kind of
long term benefits to company?
Frequency
Yes 14
No 6
10

Yes No
0
2
4
6
8
10
12
14
16
14
6
Interpretation: From the above graph, it can be said that out of 20 respondent 14 give their views
in the favour that digitalisation provide long term benefits to company.
Theme 3: Digitalisation affect business activities in a positive way
Q3) Does digitalisation affect business
activities in a positive way?
Frequency
Yes 15
No 5
Yes No
0
2
4
6
8
10
12
14
16 15
5
Interpretation: From the above given graph, it can be concluded that more than 70% respondents
says that digitalisation affect the business activities in a positive way. With help of this, company
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can maintain the quality of its products and can better satisfy the needs and wants of its
customers.
Theme 4: Digitalisation is necessary for Rolex
Q4) Is digitalisation is necessary for Rolex
as per the conditions of current business
environment?
Frequency
Yes 14
No 6
Yes No
0
2
4
6
8
10
12
14
16
14
6
Interpretation: From the above given graph it can be concluded that 14 out of 20 respondents
give their views in the favour that digitalisation is essential for Rolex in order to better achieve
set business objectives and results.
Theme 5: Digitalisation is necessary to implement by Rolex
Q5) Is it essential for Rolex to implement
transformation in its business operations?
Frequency
Yes 17
No 3
12

Yes No
0
2
4
6
8
10
12
14
16
18 17
3
Interpretation: From the above given graph it can be summarised that more that 70% said that
effective implementation of digitalisation must be done by Rolex to achieve business results.
Theme 6: Rolex has adequate funds and resources
Q6) Do Rolex has adequate mount of funds
and resources to store huge amount of data?
Frequency
Yes 14
No 6
Yes No
0
2
4
6
8
10
12
14
16
14
6
13

Interpretation: From the above graph it can bee concluded that as per the point of view of 14
respondents Rolex has adequate amount of funds and resource to store large amount of data.
Theme 7: Future impact of digitalisation on business activities of Rolex
Q7) What will be the future impact of
digitalisation on business operations of Rolex?
Frequency
 Positive 14
 Negative 3
 Can't say 3
Positive Negative Can't say
0
2
4
6
8
10
12
14
16
14
3 3
Column C
Interpretation: From the above graph it can be seen that 14 respondents said that digitalisation
will affect the business activities of Rolex in positive way while 3 said that it will affect business
operations in negative way as this will give rise to business cost.
Theme 8: Bind business operations to decrease red tapism
Q8) Is bind business activities is essential
for Rolex in order to reduce red tapism?
Frequency
Yes 14
No 6
14

Yes No
0
2
4
6
8
10
12
14
16
14
6
Interpretation: From the above given graph it can be concluded that 14 respondents said Rolex
should bind its business activities to reduce red tapism.
Theme 9: Mode of marketing should be used by Rolex for promotional activities
Q9) Which mode of marketing should be used
by Rolex for undertake its promotional
activities?
Frequency
 Traditional method of marketing 3
 Modern method of marketing 17
15

Traditional Modern
0
2
4
6
8
10
12
14
16
18
3
17
Column B
Interpretation: From the above given graph it can be concluded that more than 70% respondents
give their views in the favour that modern methods and tools of marketing must be used by
Rolex in order to attract more number of customers.
P6 Recommendations in context with investigation to draw valid conclusion
Due to already have a positive and strong brand image Rolex need not require to
introduce so various modifications in its existing process of business. To expand activities of
business online it is essential that all tools and techniques must be effectively used by firm. One
of the main benefit of effective utilisation of tools is that it help company to better achieve set
goals and objectives. At present company's management is already working in a effective manner
so there is no requirement to introduce so many changes in management process. But to attain set
objectives it is very essential to use and implement some new methods to ensure better
communication among various functions of company. Concept of cloud transfer can be use by
Rolex to store huge amount of information and access the same whenever necessary. Main
advantage of cloud technology is that it reduce hacking chances and keep the relevant
information confidential. This will make the online business more effective.
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TASK 4
P7 Reflection on the value of undertaking research to meet objectives
Whenever a research conduct or carry out research on a particular topic then tat
individual face number of issues and obstacles during research. Formulation of effective action
plan is necessary to eliminate these issues. During this research I also face number of obstacles
in context with time and cost. I did not got sufficient time to carry out research activities and
that's due to this sample size which I taken was 20 and this did not helped me in draw valid
conclusions. Along with this, budget which was allocated to me to carry out study was also not
appropriate which create obstacles during research. Due to all these issues I tried a lot to bring
off all activities. I took help of various social media platforms to collect more information about
the topic. Further, I tried my best to better use all resources and funds in adequate manner that
allocated to me for achieve better results.
CONCLUSION
From the above project report, it can be summarised that investigation is one of the
significant element do every busine ss enterprise in order to execute all business operations in an
effective way. This help researcher in collect information and opinions of various individuals.
This guide management in take appropriate decision about expansion of business activities.
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APPENDIX
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