Rolex Marketing Strategies Analysis

This assignment analyzes the marketing strategies employed by Rolex, specifically examining their utilization of both traditional and modern promotional techniques. It aims to determine the effectiveness of these methods and offers recommendations for Rolex to enhance its online presence and achieve future business objectives. The analysis incorporates insights from a survey conducted with 20 individuals.

Managing Successful
Business

INTRODUCTION
In a business process, the main focus is on analysing the market place so that the exact
trend can be determined in order to develop the products and services. This process is adopted so
that customer in the market place can be satisfied to the maximum level. This also helps in
gaining certain competitive advantage. The operations conducted by the firm can be more
smooth and effective with the help of digitalisation and thus latest technology can be adopted so
that large number of customers can be attracted (Eckerson, 2010). Rolex company is being
chosen in this report and it deals in making Swiss watches which are counted in luxury items.
This company was mainly founded in year 1905. Numerous elements which will be covered in
this study are purpose and objectives of the firm in order to evaluating and gathering information
for interrogating results and outputs. Along with it, plan of project management with the certain
aims and objectives and data will be analysed by the use of several tools and techniques.
TASK 1
P1 Aims and objectives
In modern scenario, it has become necessary for the firm to adopt the latest technology
and digitalisation so that their survival can be ensured in the market place and growth and
success can be attained. The reason behind adoption is that needs and wants of the customers are
changing in rapid speed and to provide them satisfaction, it has become important but the more
digital technology is adopted, traditional marketing is vanishing from the market. The major
impact of the digitalisation is that it provides appropriate guidance to the authorities of the
business to make correct decisions. Digitalisation provides cloud storage facility to the business
owners to share and store their database on the server and access them from anywhere at any
time and that requires even very less time (Crane and Matten, 2016). Moreover, digital
technology helps them to establish effective communication funnel so that performance level can
be improved and target market can be achieved and thus it will aid in making productivity and
profitability effectual in nature. In order to make company conduct its operations in smooth and
effective manner, thus it is required to have new and updated technology and it will in turn,
require high amount of fund for the purchasing and adoption of various tools and techniques. In
modern scenario, various number of platforms are being used like social media to convey the
message and communicate to the customers and also reach out for the uncovered people who can
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be future customers. It helps the business managers to determine the gaps which can hamper the
operations conducted. The most essential feature that technology provides to the business is that
modification and development of goods and services in company like Rolex who makes the
smart watches according to the trend within marketplace (Incelli, 2013). Technology affects the
business in positive mode and thus aid in improving the sales and profit graph in the products of
the company.
Topic: Ways in which digital technology brought alteration into the business process of an
company.
Project Background:
In modern era of business, nature of market is becoming dynamic and due to this, it has
become important for the business owners to adopt the latest technologies and bring innovation
in their business operations. Digital technology has been replacing the traditional methodologies
which were used earlier for attaining goals and objectives of the company. This provides positive
impact on the products and services and helps company to determine the changes which needs to
be adopted so that more number of clients can be attracted and contented in an effective manner
(Smith, Binns and Tushman, 2010). There are various positive impacts which have been taken by
the company like it has reduced the complexity of operations conducted and provided cloud
storage technology so that owners can save and secure their confidential data and it also has
reduced the work of accounts department. Apart from that, while making major decision it is
required to have the sufficient data to come on a point and decide and that gathering of data
becomes easy with help of digitalisation. There are various technologies which have been
invented so that business can obtain new direction like with the help of mobile phone and social
media, it has become easy for the business to deliver their product and attached message in no
time and acquire the market share through that. It is very important for the managers to decide
the aims and clinical of the firm (Kankaanranta and Planken, 2010).
Aims: Execution of digitalisation for transforming business operations.
Objectives:
 Identifying the digitalisation's impacts on the conduction of operations within company.
 Analysing various kind of impacts within business activities. Inspection of the business changes requirements.
Research questions:
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 How digital technology creates impact upon business activities?
 State needs to bring change within business operations?
 State the ways by which transformation mainly takes place within the company?
P2 Project management plan covering aspects of cost, scope, time, quality, risk and
communication
For the execution of tasks and activities, it is highly required by the firm and managers to
make effective plans and strategies so that tasks and aims can be earned in an better manner. The
main feature of the plan of project management is that it ensures that each task and activities
which are allocated in the project should be completed in desired time frame. In addition, this
helps managers to obtain the guidance in determining the cost, scope, resources, quality and risk
participating for formulating the better project. Online business of Rolex is expanding by the
utilisation of effective tools and techniques (Den Hertog, Van der Aa and De Jong, 2010). There
are basically various major factors which company has to look out in order to take an effective
decision and those are described below: Scope of Project: In modern era of business, the demands and desires of the customers
are getting dynamic at fast speed and thus due to that, technological improvement takes
place. This scenario has created many growth possibility and has also enabled
organisation to modify and introduce new type of products so that more market share
can be acquired. In case of Rolex, they have been expanding their business activities
and now they have even started selling their products into online market. Therefore, it
can be said that scope of the project is much high and wide in nature. Management of Risk: Every business contains high risk and other factors, hence this
can be stated necessary for evaluating again and thus mainly calculate every kind of
factor before starting up of any kind of project . Rolex is a famous brand so the risk
involved with that company is low (Chesbrough, 2010). Moreover, there are certain
determinations which is done by managers along with many of the factors so that
effective results can be obtained. Quality Control: For attracting large amount of customers, company has to focus on
quality of the products and services which are provided to the customers because this
helps in obtaining goals and objectives of the firm and also aids in conducting
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operations smoothly. This kind of strategy is being adopted by the Rolex which can
mainly provide number of better customers and thus mainly maintain the same for
having brand value and thus achieve key to growth. Cost: This kind of project mainly needs huge funds due to the number of activities and
funds are being involved and thus investment is being done for making the project in
better way. Hence, tremendous amount of funds are being needed for project
implementation in expected way (Ahmed Dine Rabeh, Jimenez-Jimenez and Martínez-
Costa, 2013). Time: In order to achieve the expected results, it is essential that all tasks enclosed in
project should be achieved in allocated time frame. When the activities are
implemented and executed on appropriate time, it reduces the cost of project and aids
the organisation to achieve the maximum profit level. This methodology is native by
the Rolex company due to the strategy of company in formulating plans within certain
tenure. Communication: For completion of every task and activities it is required by the
management process for developing and having better level of communication funnel in
every kind of sector of organisation (Lin and Chen, 2012). There are various kind of
responsibilities and roles for the worker who has job within certain company.
P3 breakdown structure and Gantt chart to provide stages and time frames
There is an factor which plays a vital role in gathering various ideas and opinions of other
about topic and that element is 'Research'. The main feature of action plan is to provide
appropriate direction and also enables organisation to use the resources in optimum manner and
get the effective results which were expected. For a manager it is highly important to conduct a
deep research to better realise several context of undertaking and better deal with the problems
which are happening (Gebauer, Edvardsson and Bjurko, 2010). There are some main tracks
which are included in order to carry out the research and those are following:
 Evaluating reasons for carrying out research.
 literature review
 Resolving the issues
 Determining the project base.
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 Opting out the respondents for research execution.
 Evaluating the Instrumental plan.
 Data Analysation.
All the activities are being included by every investigation which is being evaluated
considering the research program on certain topic of digitalisation changes regarding topic.
Rolex company wants to increase their operation into online sector and thus it can be done on the
basis of above provided steps and through them vital data can be gathered for helping out the
business. Along with the conduction of literature review, there will be some respondents selected
from the whole population. Respondents see and their answer will be done in an examination in
efficacious way. 20 respondent are mainly opted out and decided for leading out the exploration
by using the arbitrary inspecting technique. Gathered information will be used by the scientist to
take imminent choices in regards to business and its online development (Trimi and Berbegal-
Mirabent, 2012).
By adopting and considering all the elements in the action plan, researcher will be able to
make a desired time frame for achieving the task and activities. Rolex will use the primary
sources of data collection in which the questionnaire will be formulated and it will be 10
questions which will be put in front of all the respondents. There are 20 respondents which are
being selected (Lai and Ong, 2010). It is needed for researcher to conduct various activities. For
a company it is not easy to adopt the digital technology and carry out its trading operations so it
is the duty of manager to gather all the information to formulate the effective plan of . Action
plan set up by research worker for digital transmutation and the time period set for every task can
be finer appreciated by illustration given below:
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Rolex has been following this provided plan so that appropriate way can be acknowledged to all
the tasks which are enclosed in the above plan for obtaining goals and aims of the company. This
all will help and guide managers to take the effective decision regarding expanding the business
activities in an effectual manner (Jones and Lubinski, 2012).
TASK 2
P4 Carry out research with help of quantitative and qualitative methods of research
Keeping in mind the end goal to make explore great and compelling, at that point it is the
obligation of analyst to choose the best technique and take after the same while executing the
entire research so better results can be acquired. Research can be changed over into systematic
examination by the Investigator with the assistance of different devices and methods (Shang,
2012). This will help in future with respect to settling on basic leadership process compelling in
nature. For any sort of research there are essentially two techniques which can be utilized to
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accumulate the indispensable information and they are known as essential and optional
procedures.
With the motive of collecting the crucial and genuine data, it is being needed to take out
the recommendation along with some kind of valid conclusion from the report . Rolex will use
the same kind of plans and strategies inn order to carry out and gathering the information which
will be utilised in the decision making process of business growth (Smith, 2011). Various kind of
methods which are mainly implemented for conducting research and thus they are mainly
described below :
 Qualitative
 Quantitative
 Analytical
Qualitative and quantitative methods are being used by the research worker so that they
can get positive results of the research. In order to make outcome effective and positive, primary
and secondary data sources of data collection used by the researcher. Primary Data: It is the most effectual and suitable techniques of collecting data. This
kind of approach helps in examining and gathering the important data which is raw and
fresh and helps out in drawing better conclusion regarding research . There are various
methods used by researcher like questionnaire, survey, interview and many more. Rolex
has adopted the tool of questionnaire in which 20 respondents are being selected and they
help firm to gather more accurate data.
Questionnaire
Name:
Gender:
Age:
Contact no.:
Email-id:
Q1) Does Enterprise is gaining any type of benefits from the digitalisation?
 Yes
 No
Q2) Does long term benefits are being provided by the digital technology?
 Yes
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 No
Q3) Is there any positive impacts of digitalisation on process of business?
 Yes
 No
Q4) Is it required by Rolex to follow digitalization as per the dynamic environment of
market?
 Yes
 No
Q5) Is transformation is required by Rolex in its process?
 Yes
 No
Q6) Is there enough monetary fund and space to store the information by Rolex?
 Yes
 No
Q7) Will there be any futuristic treaty on the business of Rolex by digital technology?
 Positive
 Negative
 Can't say
Q8) Is it important for Rolex to bind all business process for avoiding Red-Tapism ?
 Yes
 No
Q9) Which type of merchandising mainly be used by Rolex for initiating its activities of
promotion?
 Traditional
 Modern
Q10) Any recommendation for Rolex relate with carrying out of digital Technology?
Secondary Data: Optional information is something which is as of now has been distributed
some place or has been found. This sort of information is typically utilized by for dealing with
the pertinent data by Rolex. There are a few ways like Journals, books, magazine, article and
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numerous more which are being utilized by the analyst with a specific end goal to accumulate the
data about the examination.
Case Study One: Various kind of strategies are being received by the administration of Rolex
keeping in mind the end goal to present development and change the items. This change and
improvement regularly brings about drawing in clients in huge sum. Catching a vast piece of the
overall industry is the essential mission of an endeavour and to accomplish the same,
organization sets up their endeavours.
Case Study Two: The primary concern about the organization Rolex is that their items are
expensive and that is the reason they are considered under extravagance things. The point of
organization is to fabricate watches which can be obtained by the white collar class family.
Different techniques can be utilized by organization to draw in white collar class family and the
best strategy is web-based social networking which can pick up the clients.
Adding latest and demanding features in the watches can be a method which can draw the
attention of customers like innovating the smart watches which can be linked to smartphone, fit-
bits and many more (Introducing Research Methods. 2017). Thus it can be said that digitalisation
has both affirmative and destructive impacts in success and growth of the organization.
TASK 3
P5 Analysis of research and data with appropriate tools and techniques
It is highly essential for presenting data effectively so that it can make process of making
decision much more impelling. In aspect of Rolex, they analyse and gather the data which is
being collected from the enquiry report in order to make authentic determination from whole
activity of research.
Q1) Does Enterprise is gaining any type of benefits from the digitalisation?
 Yes 17
 No 03
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Yes No
0
2
4
6
8
10
12
14
16
18 17
3
Interpretation: From the above chart, unmistakably 17 of them concurred on the points of
interest which are being given by the digitalisation though 3 of them didn't concede to the same.
Q2) Does long term benefits are being provided by the digital technology?
 Yes 14
 No 06
Yes No
0
2
4
6
8
10
12
14
16
14
6
Interpretation: From the above graph it can said that 14 out of 20 were in favour of providing the
digitalisation for long term benefits while 6 of them did not go with the same favour.
Q3) Is there any positive impacts of digitalisation on process of business?
 Yes 15
10

 No 05
Yes No
0
2
4
6
8
10
12
14
16 15
5
Interpretation: From the above report it can be stated that 15 of them said that business is being
affected in positive way whereas 5 of them did not agree on the same.
Q4) Is it required by Rolex to follow digitalization as per the dynamic environment of
market?
 Yes 14
 No 06
Yes No
0
2
4
6
8
10
12
14
16
14
6
Interpretation: It can be stated that out of 20, 14 showed favour but remaining did not agree on
that as they had some other point of view.
Q5) Is transformation is required by Rolex in its process?
 Yes 17
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 No 03
Yes No
0
2
4
6
8
10
12
14
16
18 17
3
Interpretation: From the above report it can be concluded that 80% gave their point of view in
favour of effective applying of digitalisation while 20% of them said that Rolex will not get
affected by this.
Q6) Is there enough monetary fund and space to store the information by Rolex?
 Yes 14
 No 06
Yes No
0
2
4
6
8
10
12
14
16
14
6
Interpretation: From the above report it can be stated that out of 20, 14 said that Rolex have
enough funds to store their data but 6 of them have another point of view.
Q7) Will there be any futuristic treaty on the business of Rolex by digital technology?
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 Positive 14
 Negative 03
 Can't say 03
Positive Negative Can't say
0
2
4
6
8
10
12
14
16
14
3 3
Column C
Interpretation: 14 respondents said that results will be positive after applying digitalisation in
Rolex whereas 3 of them disagreed on it.
Q8) Is it important for Rolex to bind all business process for avoiding Red-Tapism ?
 Yes 14
 No 06
Yes No
0
2
4
6
8
10
12
14
16
14
6
Interpretation: 14 of them agreed on the Red-Tapism thing.
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Q9) Which type of merchandising mainly be used by Rolex for initiating its activities of
promotion?
 Traditional 03
 Modern 17
Traditional Modern
0
2
4
6
8
10
12
14
16
18
3
17
Column B
Interpretation: 70% of the respondents agreed on current techniques which are utilized by the
organization to acquire number of clients.
P6 Appropriate recommendations in context with research to draw valid conclusion
Rolex being a multinational company and they have brawny and better brand value and
due to that they do not require to introduce many modifications in their existing process. In order
to grow their activities online, they need to adopt various tools and techniques which can be used
to imply it successfully. This will lead the company to attain its aims and objectives in effective
manner and also gain competitive advantage. For present it is not required by the company to
change their business operations but by seeing the nature of market which is dynamic in nature,
it will be soon required by Rolex to make modifications in their business process. In order to
achieve the allocated tasks and objectives it is required to carry out the work in effective manner
along with adoption of some new methods. Concept of cloud storage is another effective way by
which the operations and data of the company can be handled in effectual manner and they can
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access their data at anytime and any place. Advantage of cloud technology is that it reduces the
burden of carrying information and also minimise the hacking chances and hence information
can be secured .
TASK 4
P7 Reflection on the value of undertaking research to meet objectives
Whenever a person conducts a research then he\she faces many type of problems and
obstacle while preparation of it. Therefore it is needed to formulate effective plan and strategy so
that those obstacles can be avoided in efficient manner. While conducting the research, even I
faced many kind of problems which took my time to resolve them. There was not enough time
period which I got and thus I had to formulate report by conducting survey on 20 person and
therefore, no strong and genuine results were obtained. Moreover, with this budget was also
allocated to me for carrying out the research but it was not sufficient and due to that I had to face
many issues. Along with this issues I tried to carry out all the activities and hence, social media
was the tool which was being used for collecting crucial data. In addition, there were resources
which were being utilised in better way in order to attain the objectives in better and effectual
manner .
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CONCLUSION
From the above report, it can be concluded that conducting a research is one of the most
important element of the for operating business process and thus execute all the tasks and
activities in effective manner. This aids research in gathering information and opinions of several
individuals. This provide guidance to the management in taking appropriate decision about
expansion regarding business activities.
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