Promotional Aspects of Rolex Company Research Paper

promotional Aspects of Rolex Company - Research Paper ExampleAdopting an effective selling mix ensures the satisfaction of customers needs thus success. However, knowing the needs of customers and meeting them is normally very challenging undertaking. Therefore, before origination a product in the market, a order must take into consideration all the marketing mix, including product, price, place, and promotion. The c atomic number 18ful evaluation of all the elements of the marketing mix ensures the development of a product that meets the needs of customers in a market. Even though there may be countless of organizations that have excelled in marketing services and products, Rolex watch friendship stands out as the greatest marketing genius of the 21st century. Founded in 1905, Rolex has grown to become one of the worlds most valuable brands. The company ranked as Forbes 68th most valuable brands in 2013 (Beckwith, 2011). Rolex specializes in the manufacture of wristwatches in t he world. Most of the best watches in stores at once are manufactured by the company. Rolex was the first company to manufacture a waterproof watch in 1926. The companys watches are not just appealing in terms of appearance, but alike in terms of quality. Rolex watches are worn by some of the worlds most notable athletes, including Tiger Woods, Roger Federer, Phil Mickelson and Lindsey Vonn, just to name but a few. The success of Rolex is mainly attributable to the promotional strategies that the company adopts. The company has adopted an aggressive promotional campaign that encompasses advertizement, sales promotion, public relations and individual sales. The promotional strategies that the Rolex have adopted over the past years has ensured that its product become a household brand. In creating brand awareness for its watches, Rolex have adopted some of the best promotional strategies ever witnessed. Advertising Rolex advertising campaign is just exceptional. The most striking f eature about Rolex is that it has narrowed its marketing campaign messages, which are consistently relayed across all mediums. In fact, Rolex has stayed absent from the use of the mainstream advertising mediums, such as tuner and television ads that are not targeted at a precise audience (Stevenson, 2011). At the same time, Rolex has stayed away from using broad strokes of ads that are occasionally used by large promotions such as the buying time commonly used during big sporting events. Instead, Rolex has largely focused on major events that draw special consumers with the ability to buy its pricey watches whose prices range from $5,000 to $100,000 (Beckwith, 2011). For instance, the Rolex Sports car Series and the Rolex 24 Hours held in Dayton attracted some(prenominal) race fans and sport car owners with the ability to spend large sums of money participating in the event. This too offered Rolex a perfect opportunity to advertise its quality and expensive watches. Rolex in addition advertises it watches during golf tournaments, as closely as during yachting events that normally attract wealthy audiences with the ability to buy its expensive watches (Stevenson, 2011). Apart from sponsoring sports series that attract wealthy audiences with the ability to purchase expensive items like its watches, Rolex also, sponsor individual sport personalities to divine service promote its watches. Currently, Rolex has signed great deals with famous golf giants such as Tiger Woods, Gary Player, Arnold Plamer, and Jack Nicklaus. Rolex has also signed great deals with famous tennis players, such as Roger Federer as a means of promoting its expensive watches. A closer look at the past commercial ads that Rolex had run in the past, it is clear that the company has a