Report on Strategic Management of ROLEX

Added on - 06 Jun 2020

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STRATEGICMANAGEMENT
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................11.) Background of ROLEX.........................................................................................................1TASK 1............................................................................................................................................22.) Target customer.....................................................................................................................25.) Auditing of working scenario................................................................................................33.) Positioning of ROLEX...........................................................................................................54.) Marketing Mix.......................................................................................................................56.) Resources and evaluation.......................................................................................................67.) Management Agenda.............................................................................................................68.) Internal and external linkages................................................................................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
INTRODUCTIONStrategic management is includes all such criteria which help company to have aneffective working in organisation. The concept is such which lead to have an identification anddescription of various strategies which somewhere make them to achieve their goal and objective(Freeman, 2010). The report is based on ROLEX which is a wrist watch company and foundedby HANS WILSDORF and ALFRED DAVIS in year around 1905. Assignment will includebackground of firm and target customer and positioning of brand showing with tabulation andhaving an audit of it and producing a plan.1) Background of ROLEXROLEX is among the oldest brand in wrist watches and it is founded by ALFREDDAVIS and HANS WILSDORF. Therefore, earlier the watches is being sold to jewellers onlyand then they usually put their name on the dial and founders name was generally hallmarked atthe cashback of watch. After this, in year approx. 1908 founders gone with having a registrationand brought trademark as “ROLEX” and went on to open their office in La Chaux-de-Fonds,Switzerland.The word came from French phrase which means “exquisite clockwork”. Wilsdorfalso said that the name should be such which is ease to pronounce and they come up with nameROLEX.1
Therefore, the ROLEX has earned higher in last year and thus they have performed inbetter manner even though in comparison to previous years of their working as well.2Illustration1: ROLEX profit in year(Source:ROLEX Company limited, 2017)
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