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Essay / Research Paper Abstract
An 11 page paper examining application of strategy assessment at a company that does not receive a great deal of attention for such assessment because it makes practically no information available outside the company. One of Porter's overriding messages is that strategy consists of a series of choices about how a company chooses to compete in its industry. Rolex appears to defy conventional wisdom in most areas of self-promotion and trend-chasing, and it has been quite successful in doing so. The paper discusses strategy in general, the luxury wristwatch market, the five forces, key success factors and driving forces. Bibliography lists 10 sources.
Page Count:
11 pages (~225 words per page)
File: CC6_KSstratRolex.rtf
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Unformatted sample text from the term paper:
of the items the Swiss are known for around the world is the wristwatch. This is a category all its own and does not acknowledge the existence of the
electronic time-relaying things that can be found at every Wal-Mart. Rather, it gravitates to the brands sold only through jewelers at prices beginning at or near four digits.
There are several well-known brands of luxury watches based in Switzerland, but none is more successful than Rolex. Likely none is more tight-lipped
regarding performance or technological advances, either. In 2000, Rolex developed a lubricating oil that would allow their watches to need maintenance only every five years instead of annually.
Did the company use that information in its marketing messages that year? Certainly not. Then-chief executive of Rolex, U.S. Walter Fischer explained that there was no reason:
"We dont mention technological improvements ... People who buy a Rolex - they know" (Levine, 2000; p. 178). This attitude and assurance that
Rolex customers represent the best the market has to offer has led Rolex to maintain a perennial leading position in the luxury watch market, regardless of what external conditions might
be. Levine (2000) notes, "Company finances are hermetically sealed from public view, but marketing consultant Interbrand pegs the value of the Rolex brand name alone - never mind real
estate or other assets - at $3.5 billion" (p. 178). The Luxury Market Overall, the luxury watch market has had mixed results during
the years of the new century. One of Rolexs leading competitors, France-based Moet Hennessy Louis Vuitton (LVMH), posted a "$1.24 million deficit in the first half of 2004" (Fox,
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