ROLEX – the Symbol of Personal Achievment

1. ROLEX – the Symbol of Personal Achievment Varför är segmentering så viktig! Utvärdering av segmenteringsmetodVad är en effektiv segmentering?Förstå fyra strategier för differentieringFramgångsrik positionering … och repositionering

2. Evaluate the alternative bases that Rolex might use to segment its market. Which base would you recommend and why? • There are a variety of bases available for segmenting consumer markets including profile, behavioural and psychographic. . In consumer markets, behavioural variables such as benefits sought and purchase behaviour are particularly powerful bases for segmentation.Utseendeochkönsaspekt, 25+, runt handen, medelklassenunna sig.Geografiskamarknader, fokuspåAsien, status, kvinnor, unisex. Behåll din klassiska … serienummer, änmerexklusiv, historiaför de äldre. • The five criteria for successful segmentation: effective, measurable, accessible, actionable and profitable

3. Viktigaste segmenteringsvariabler • Geografisk segmentering Indelning av marknadens köpare som bygger på var de är bosatta • Demografisk segmentering Indelning av marknadens köpare som bygger på variabler såsom ålder, kön, yrke, civilstånd, utbildning, och inkomst. • Beteendemässig segmentering Indelning av marknadens köpare som bygger på deras beteende ifråga om köpvanor, betalningspreferenser och lojalitet • Psykografisk segmenteringIndelning av marknadens köpare som bygger på deras livsstilar och intressen och på hur de tänker och resonerar LiU/IEI/FEK Mehran Noghabai

4. Exempel på segmenteringsvariabler LiU/IEI/FEK Mehran Noghabai

5. Evaluate the current market targeting strategy being used by Rolex. Is it appropriate? • The four generic target marketing strategies: undifferentiated marketing, differentiated marketing, focused marketing and customized marketing. • Differentieringgenomtydligprisdifferentiering (postionering I prisklasser)En bestämdvolym, dvs del avefterfrågan. Betoningpådetmanliga. Exklusiv distribution. Vemsomhelstharinterätt at sälja. • Rolex uses a differentiated market strategy. This is where specific marketing mixes can be developed to appeal to all or some segments identified. A differentiated target marketing strategy exploits the differences between marketing segments by designing a specific marketing mix for each segment. In the case of Rolex this strategy is very appropriate given the strong position of the Rolex brand and their effective segmentation base.

6. Positioneringsstrategier • Val av målgrupp ett resultat av vilka positioner som är möjliga att inta • Kräver en grundlig marknadsanalys • Kräver en ny SWOT-analys • Kräver en ny konkurrensanalys Att lyfta fram unika egenskaper hos produkten (i målgruppens ögon) • Vi var först (lyfta fram sin historia) • Vi har det senaste (visa att man följer modet eller den tekniska framkanten) • Vi är ledande (vi sätter trender) • Vi är störst (luta sig mot marknadsandelar) • Bäst i test, Årets populärast resmål • Vi utsågs till årets … (lyfta fram utmärkelser eller certifikat) + Story telling och upplevelser (We make history) ; ICA-reklam LiU/IEI/FEK Mehran Noghabai

7. Discuss the key factors contributing to the success of Rolex’s positioning strategy • Positioning can be defined as the act of designing the company’s offering so that it occupies a meaningful and distinct position in the target customer’s mind. • There are four keys to successful positioning; (1) Clarity: the idea must be perfectly clear, both in terms of target market and differential advantage. Complicated positioning statements are unlikely to be remembered. Rolex has been clearly associated with quality, prestige and a sense of achievement, lyx. Tydligtnamn, satsapåvärldsettor, tävlingar. Huvudsponsori Wimbledon. (2) Consistency: Rolex message has been consistent for 100 years demonstrated through the use of testimonials from notable achievers and awards for the quality of their design. (3) Credibility: the selected differential advantage must be credible in the minds of target customers. Rolex has been successful in creating credibility in the eyes of the customer. This can be seen by the value attached to the Rolex brand. (4) Competitiveness: the chosen differential advantage must possess a competitive edge. It should offer something of value to the customer that the competition is failing to supply. Rolex originally recognised the gap in the market to develop wristwatches when at the time most other watchmakers were designing pocket watches. Quality design and branding have created competitive advantage since for Rolex.

8. REPOSITIONERING Jämför med Ansoffsprodukt-marknads-matris ICA, Swedbank, Pensionsbolag, Ändra i namn, förpackning, eller reklambudskap Nordnet bank, TV4, ViasatTilläggstjänster Arnold, Lady GAGANya ModeraternaGlobal aktör, social aktivist …Samma innehåll i ny förpackning? Red Bull, Cola, hälsokostAndra användnings-områden än avsett LiU/IEI/FEK Mehran Noghabai

9. 4. ‘Rolex could become a prisoner of their own strategy’. Critically evaluate the advantages and disadvantages of implementing a repositioning strategy for Rolex. • Repositioninginvolves changing the target markets, the differential advantage or both. The four repositioning strategies include - image repositioning, - product repositioning, - intangible repositioning and - tangible repositioning. • Rolex could engage in intangible repositioning. This involves retaining the product but changing the market segment it is aimed at. The main issue that Rolex has is the ability to attract younger generation of customer. Repositioning is challenging and should be undertaken with great care. • “Varom-positoioneringennödvändig?” “Gårdetattlevapågamlameriter?” “Växervårmålgruppellerdessköpkraft?” “Vadvill vi associeras med?” • The major reason for Rolex to engage in repositioning include; increased market opportunities particularly with the under 30s and secondly, its importance for long term growth. Major potential disadvantages of repositioning Rolex include; alienating the current target market, dilution of the brand value, reduced opportunity in emerging markets where branding is crucial, competitor reaction and strength in younger segment, marketing communication issues. • Prinsar och princessors nya krona/tiara. Perfekt examenspresnt!