These factors pertain to innovations in technology that may affect the operations of the industry and the market favorably or unfavorably. With the theme of following the contemporary trends, Rolex has been manufacturing many up to the mark watches with all innovations that have always make the organization among the best in its realm.
Technological Factors Technology has its ramifications in every sphere of life. There are certain questions that one needs to ask while conducting this analysis, which give them an idea of what things to keep in mind.
This price of metal varies in different regions. Rolex is the brand of the upper middle class or the elites of every society and they are very much concerned about all the legit stuff. Legal Factors There have been many competitors to Rolex like Omega. Economic factors include inflation rate, interest rates, foreign exchange rates, economic growth patterns etc.
There are certain laws that affect the business environment in a certain country while there are certain policies that companies maintain for themselves. These factors include all those that influence or are determined by the surrounding environment.
Economic Factors The economic factors include the exchange rates of the state in which the company is working. Rolex has made Pestel analysis on rolex name in the market with the consistent efforts of the organization. For instance, in few regions, the price of a specific metal is high and so is then the price of that specific style of watch.
This refers to automation, research and development and the amount of technological awareness that a market possesses. Social Factors The social factors encompass the fashion trends in the society. The developed states with high Human Development Index and a good economy will be more prone to the business like Rolex.
The Rolex brand is very much prone to innovation and has always followed the contemporary trends. Rolex has been considered as one of the luxury brands in the domain of wrist watches.
Certainly, the modern societies are more interested in the business companies like Rolex. Rolex is producing state of the art watches for men as well as women. These factors have both external and internal sides. The recession element is also one of the mainstream elements in the upbringing of the organization like Rolex.
How much importance does culture has in the market and what are its determinants? These factors scrutinize the social environment of the market, and gauge determinants like cultural trends, demographics, population analytics etc. For the companies like Rolex, the technological attributes like innovation have played a great role.
This aspect of the PESTLE is crucial for certain industries particularly for example tourism, farming, agriculture etc. This factor is therefore very important when it comes to brands like Rolex. The world has now become a global village and people have become very much vigilant about the legal aspects of the products.
It has been analyzed that Rolex has been one of the greatest organization that is producing around watches per day. Factors of a business environmental analysis include but are not limited to climate, weather, geographical location, global changes in climate, environmental offsets etc.
The people of such states will be more interested in buying luxurious items like Rolex wrist watches, so there will be more chances of the sale and will positively affect the business as a whole. The technology gives it possible to spread the innovation within seconds and the fashionistas are there to purchase the trendy stuff.
Environmental Factors The environmental factors encompass various global environment safety laws that must abide by the global standards.
The World has now taken the vow in making the planet a beautiful and pollution free. These regulations need to be fulfilled for successful operation of business activities.
It may be so, that the importance of each of the factors may be different to different kinds of industries, but it is imperative to any strategy a company wants to develop that they conduct the PESTLE analysis as it forms a much more comprehensive version of the SWOT analysis.
What are the environmental concerns for the industry? These factors determine the extent to which a government may influence the economy or a certain industry.Rolex watch brand covers the brand analysis in terms of SWOT, stp and competition.
Along with the above analysis, segmentation, target group and positioning; the tagline, slogan & USP are covered. PDF | PEST is an acronym for four sources of change: political, economic, social, and technological. PEST analysis is a powerful and widely used tool for understanding strategic risk.
Case Study on “Rolex Marketing Muhammad Mostafizur Rahaman. Case Study on “Rolex Marketing Muhammad Mostafizur Rahaman Rolex marketing case study 1. Case Study on “Rolex Marketing Muhammad Mostafizur Rahaman Its formulation and design depends on thorough andcareful analysis and planning.
It follows certain steps. Transcript of Rolex Presentation. Sarah Alajmi - Mariam Serrokh – Tendai Chidawanyika - Osai Jalloh - Astridah Banda - Table of Content 1. Rolex Key Timeline 2.
Brand Overview 3. Uniqueness of Rolex 4. PEST Analysis 5. Industry Analysis 6. Competitor Analysis 7. Marketing Mix 8.
Value Chain. Ad Targeting of Two Watches, Rolex and Citizen Essay; Ad Targeting of Two Watches, Rolex and Citizen Essay. Words 7 Pages. Pestel analysis of Titan Watches PESTEL analysis: Pestel stands for Political, Economical, Sociocultural, Technological Environmental, Legal analysis of the external environment affecting the business.
10 PESTEL analysis of Rolex: PESTEL stands for Political, Economical, Socio cultural, Technological Environmental, Legal analysis of the external environment affecting the business. PESTEL analysis is done by managers to understand the macro environmental factors affecting the business.Download