Q. Which need & want the selected brand satisfy? Needs are basic human requirements. People have different needs like air, food, water, clothin, shelter. !hey even have need for recreation, education and entertainment. When these needs are directed to specific ob"ects they become wants. #ole$ satisfy the people%s need of ettin watch to know time. t also satisfies the want of ettin a stylish watch which is ood in facilities and provides a status symbol.
Q. What are the variables that define value for the customer of brand? 'alue reflects the sum of the perceived tanible and intanible benefits and costs to customers. t is a combination of quality, service and price. 'alue 'alue increases with quality & service. 'ariables 'ariables that define value for the customer c ustomer of #ole$ are( )est quality, reputation, style, commitment to e$cellence
Q. dentify atleast five competitors of the selected brand *mea !a !a +itien -aeerle coulter /ovado
Q. +omment upon players involved in the supply chain of the brand
!he oriins of a company%s company%s products used to be pretty murky. murky. )eyond the supply chain function, virtually no one cared. *f course, all that%s chaned. +onsumers, overnments, and companies are demandin details about the systems and sources that deliver the oods. !hey worry about quality, safety, ethics, and environmental impact. 0o it has opaque supply chain. 1ew people could actually tell the difference between an authentic and a topend fake #ole$ watch or 2ouis 'uitton ba. t does not import raw materials they do their own production. 3t #ole$, men and women who service and produce these machines are considered artists, who blend both science and desin to create these master pieces of art.
!hey understand the interplay between all the materials used, and combine all the thouhts needed to create an ob"ect that is a reflection of care and intent. 3t the end, they believe that it is a piece of livin art that is reater than the sum of its parts. 1urthermore, and this is the heart of #ole$, people who work on watches are very passionate, have incredible ideas and are always e$cited to produce such products. 3nother technique the company has employed is a tiht control in its supply chain. #ole$ only allows watch retailers to sell at most two watches a year. !his ensures that the supply of #ole$es will never outstrip the demand.
Q. dentify various marketin environmental factors affectin the selected brand and identify the impact of these factors on company%s marketin activities •
•
•
Political and "udicial environment( dependence on world economic situation 450, 3sia6, counterfeit issues, 0wiss made label 7 difficult to obtain 7 strict rules 0ocialcultural environment( watch is rearded as multidimensional productsport, "ewellery, fashion, fashion, etc. ( very diverse customer( limited shoppin buy a watch as an investment 7or for a particular occasion !echnoloical !echnoloical environment( watch producer requires re quires hih spendin on #&8, innovation key to development of new markets and clients, constantly upraded product, localiation of production centre in watch environments environments
Q. *ut of different concepts of marketin 4philosophy of marketin6 which is more applicable for marketin of selected brand !he marketin concept is applicable here. t emphasis on the needs of consumers. t emphasis on consumer%s view. 9ere the satisfaction of the customer is the primary motive. t is e$ternal and market oriented. t t has the sense and responds philosophy. :/arketin% :/arketin% view customer as the very purpose of the business. t is a function that converts the consumer needs to product. 9ere lon term strateic plannin is done. ;ven new products and markets are considered. 1uture rowth is an ultimate aim.
Q. dentify which cateory 4consumer or business6 the brand falls & discuss the buyin process #ole$ falls in cateory of consumer product. 0o its buyin process is as follows( Problem reconition( first the consumer reconies need for a watch either for his • own wish of havin it or he may have ot influenced by seein others wearin watch. nformation search( he will then collect information from various sources like • personal 4family, friends, neihbours6, commercial 4web sites, advertisements, displays6 and public 4mass media6. !otal set #ole$ *mea !a
3wareness set #ole$ *mea !a
+onsideration set #ole$ *mea !a
+hoice set #ole$ *mea !a
decision
+itien -aeerle coulter /ovado !itan !ime$ /a$ima 0watch
•
+itien -aeerle coulter /ovado titan !ime$
+itien -aeerle coulter /ovado
?
;valuation of alternatives( the consumer arrives at attitudes toward brands throuh an attribute evaluation procedure. 9e will develop a set of beliefs about where each brand stands on each attribute and then make decision 9ere the consumer may ive weiht to the attributes as follows( 0tyle( <=> 0tatus( <> Price( @=> Quality( <> nnovation( <=>
)rand #ole$ *mea !a
0tyle A B C
0tatus B C D
Price C B
Quality A D D
nnovation B D
Now he will calculate the value from selected brands as follows( #ole$( =.<4A6 E=.<4B6 E=.@46 E=.<4A6 E=.<4B6 F B.@ *mea( =.<4B6 E=.<4C6 E=.@4C6 E=.<4D6 E=.<4D6 F D.C !a( !a( =.<4C6 E=.<4D6 E=.@4B6 E=.<4D6 E=.<46 F D.< •
•
Purchase decisions( after discoverin the value the consumer may decide to purchase a brand. !his purchase decision is affected by two factors. !hey are( @. 3ttitudes 3ttitudes of others others here the the consumer consumer may chane chane his decision decision as as others have have neative attitude towards his selected brand. <. 5nanticipat 5nanticipated ed situational situational factors factors here here the consumer% consumer%ss decision decision miht miht et affected due situations such as decrease in income, misbehaviour of the sales person, any other purchase may be more more important at that particular time. Post purchase behaviour( after makin purchase if the consumer is satisfied he will tell it to others to buy watch of that brand only or else if he is dissatisfied he may become disloyal to the brand and even may return the watch. !he #ole$%s marketer must even tell customers about its use and dispose.
Q. 3lso 3lso discuss the factors affectin buyin process !he factors affectin the buyin process are as follows(
@. +ultural +ultural factors( here here the individu individual%s al%s buyi buyin n behaviour behaviour depends depends on the the culture of their family and subculture. ;ven social class also affects the behaviour as different class have different brand preference. <. 0ocial 0ocial factors( factors( here the the consumer%s consumer%s behaviour behaviour may may et affecte affected d by the the opinion opinion of his family, friends, neihbours and coworkers. ;ven they are affected by the aspiration roups and dissociative roups. 9ere the consumer%s roles and status also play important role. G. Personal Personal factors( factors( here the the consumer%s consumer%s occupa occupation tion and economic economic circumstanc circumstances es affect his buyin behaviour. ;ven the life style and personality of the consumer affects his behaviour. H. Psycholo Psycholoical ical factors( factors( the consumer% consumer%ss buyin buyin choice choice is manly manly affected affected by the the motivation, perception, learnin and beliefs. 3 motivated person will readily make decision for purchasin the #ole$ watch.
Q. dentify which sement the company is taretin for the selected brand #ole$ tarets the upper uppers, upper middles, and upper lowers. t even tarets the hih income roup people, who can pay hih for ettin a hih status watch and those who want ood quality watch.
Q. dentify other possible sement 4basis of sementation6 the company can select for its brand #ole$ can also taret the sement on the basis of personality, user status and loyalty status.
Q. dentify which level of sementin is done for the selected product. 3nd find other level of sementation is possible or not? f yeswhy? Nowhy? N+9; /3#I;!NJ( t has a KNiche audienceL !arets !arets the Moun Moun and youn at heart and people who are fashion conscious but are price sensitive. t is attractive as its customer has a distinct set of needs. ts customer pay premium as it best satisfies their needs and it ains economies for its specialiation. !he marketin efficiency increases.
Q. dentify the positionin of the selected brand. +omment upon company%s positionin stratey. stratey. s any alternative positionin possible? f yes, discuss. f no, why? !he positionin of #ole$ is Kthe crown of achievementL. #ole$%s prestiious position in the timepiece market has also enabled it to escape the precipitous drop in the worldwide sales of wristwatches. !he rise of the cell phone and hand held device has made
checkin the time a trivial matter. 3s a result, cell phone usae has increased and wristwatch sales have declined. #ole$ has larely escaped this fate due to its position as a status symbol. While it is true that #ole$ makes a superb timepiece, a lare part of the #ole$ appeal is the messae of prosperity it sends. )luntly put, a #ole$ is a symbol of success. !he e$clusive price ta and brand status of the watch keeps the #ole$ on a playin playin field all its own, immune to advances in technoloy and the trends of the moment. No, other positionin is not possible as it may not have such stron effect which the present one has.
Q. dentify the variables used for brand differentiation by the company for selected brand. +omment upon company%s brand differentiation. P#*85+! 811;#;N!3!*N( 1orm( #ole$%s sie, shape & physical structure is different from others. 1eatures( its features are also unique. Performance quality( performance quality of #ole$ is ood. t has improved technoloy & also provided the facility of waterproof and dustproof watches. +onformance quality( it has a hih conformance quality. t is identical and meet the promised specifications. #eliability( here the buyers pay hih premium for hih reliability. t does not malfunction or fail within a specified period. 0tyle( #ole$ is the most stylish watches. t creates distinctiveness and avoids the duplication and difficult to copy. copy. 8esin( the desin of #ole$ is also unique. t creates different value for the customers and describes how it look, feelin of customers. P;#0*NN;2 811;#;N+;( +ompetence( the employees her know what they should know and what they should do. +ourtesy( employees are courteous and even they very well know how handle the different situations #eliability( the employees are very much reliable and even their work is up to the mark.
Q. 8iscuss & comment upon points of parity & points of difference for the selected brand. /ention if any other points of difference is possible. f yes, e$plain how?
PONTS OF DIFFERENCE:
POINTS OF PARITY:
Quality +ommitment to ;$cellence #eputation /anae demand 0wiss/ade /echanical /ovement 3dvertisin
;$pansion of 2u$ury )rands /aintain ;$clusivity of )rand 8esirability 8iminished #elative to other 2u$ury )rands 2ower Price 2evels /arket 0hare 0napshot
BRCM COLLEGE OF BUSINESS ADMINISTRATION ASSIGNMENT 2013-2014
SYBBA SEMESTER – 3
NAME(
0*N32 9303N
ROLL NO( DIV(
HB
@0!
SUBJECT(
/3#I;!NJ /3N3J;/;N!
TOPIC( Rolex SUBMITTED TO(
P#3!I 0#
SUBMITTED ON(
@C!9 *+!*);#, <=@G
