Rolex costumers are part of a market segment which is usually filled with collectors, artists and athletes. They all share one characteristic that includes them this segment: purchasing power.
Marketers for the company segment the market by demography, especially by income.
Income levels influences consumers needs and determine their buying power. These characteristics are relevant in the fine watch industry.
As an example in New York you can find a Rolex store or retailer all over the upper east side, where the income rate is the highest in the city. A clear example of Geo demographic segmentation. Characterized by potential costumers and lifestyle.
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| Olivia Palermo + Rolex Daytona |
Rolex offers both and truly understands the needs of both segments. By giving options to its costumers Rolex increases market share and profits.
Positioning:
Rolex made us believe through its products that they are the best in the game. Potential costumers will always consider Rolex when buying an expensive watch. By being a pioneer in many segments of the industry, Rolex made us perceive the brand as the parameter of quality.
The brand occupies number one spot in the watch industry over the years and it is most likely to stay this way.
really this article helped me.Thank you
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