Analysis of Rolex's Marketing Strategy in Quartz Crisis and Its Inspiration to Other Brands

Abstract

This paper first describes the status of Rolex in the luxury watch industry. Today, Rolex is an international luxury watch brand, with flagship stores, distributors and franchise stores all over the world and people regard owning a Rolex as a symbol of success. And then this paper describes the quartz crisis, which is crucial to Rolex's successful transformation into a world-class brand as it was previously a niche, utilitarian Swiss watch brand , and draws out the efforts made by Rolex in the three aspects of brand positioning, brand value and brand culture during the quartz crisis. In this crisis, Rolex accurately understood the changes in the market, located customer groups as well understood their needs. Rolex also enhanced their brand value from multiple aspects, made their products luxury, and established their own brand culture in the subsequent development of the brand in response to the crisis. Finally, the reference value of these strategies for other brands is proposed.