The marketing main objective of the Rolex SA is to provide the high end luxury watch consumers with innovative, handmade, customized, and unique watches and timepieces which employ innovative design and technology. The company has already been pioneering innovations in the industry, however more investment is required in this regard to help the company increase demand for its products again.
The other marketing objective of the Rolex SA is to promote the Rolex brand as a one of a kind collector’s item which is a social status symbol depicting prestige, luxury and high end quality. The quality and the precision, the practicality of the timepieces as well as the reliability of the Rolex watches is one of the main assets of the Rolex SA which is marketed to the consumers in the market.
In order to effectively target the desired market Rolex needs to add to its marketing objectives elements which can drive growth for the company as well as increase the demand for the products. Pertaining to this the new marketing objectives of the company also incorporate the innovative design and the innovative use of technology in the customer designed handmade time pieces which are marketed as an updated luxury time piece to the consumers in the market. New materials, high end unique yet classic designs as well as the new technology based coatings and materials used in the watches can help increase the demand for the Rolex products for the company.
The last marketing objective that is being targeted with the proposed marketing plan is to increase the profitability of the Rolex SA Company. This can be achieved by increasing the sale volume to the relevant high end customer base. The dilution of the prestige is not the target therefore only niche based marketing is to be employed to prevent the brand from dilutio.