| Rolex worked hard for the better part of the century | | | | phone and hand held device has made checking the |
| not only pushing the boundaries of timepiece | | | | time a trivial matter. As a result, cell phone usage has |
| capabilities, but also maintaining the perception of value. | | | | increased and wristwatch sales have declined. Rolex |
| You might think the term "perception" of value as | | | | has largely escaped this fate due to its position as a |
| implying that Rolex watches are really not as valuable | | | | status symbol. While it is true that Rolex makes a |
| as they're made out to be. I would argue quite the | | | | superb timepiece, a large part of the Rolex appeal is |
| contrary; perhaps no other consumer product on the | | | | the message of prosperity it sends. Bluntly put, a Rolex |
| market lives up to its reputation like a Rolex. | | | | is a symbol of success. The exclusive price tag and |
| Rolex, the original inventor of the wrist worn watch, | | | | brand status of the watch keeps the Rolex on a |
| has also innovated the attachment techniques that | | | | playing field all its own, immune to advances in |
| created the waterproof and dustproof watch, as well | | | | technology and the trends of the moment. |
| as the advent of the self winding watch. In addition, the | | | | Many Rolex critics have contended that a high quality |
| Rolex is one of the few watches that is certified as a | | | | quartz watch keeps time at least as well as a any |
| genuine chronometer; the highest distinction (of time | | | | given Rolex. Though this matter has been hotly |
| keeping accuracy) a timepiece can receive. | | | | debated, the critics are missing the point. A Rolex |
| Rolex has also cultivated their value by creative | | | | sends a message of exclusivity that no other |
| marketing. Rolex - a privately held company - has | | | | timepiece can equal. Some might deride Rolex |
| always avoided traditional advertising such as print and | | | | ownership as ostentatious showboating, and perhaps |
| TV commercials. Rolex has instead opted for creating | | | | they would have a point. But Rolex always justified its |
| a type of advertising which is a hybrid of public | | | | value by its unparalleled construction standards, elegant |
| relations and product placement. For example, not only | | | | and understated aesthetic, and last but not least an |
| has Rolex been worn by both Sean Connery and | | | | incredible time keeping accuracy. Another key |
| Roger Moore in various James Bond movies, but the | | | | distinction of this brand is that a Rolex holds onto its |
| famous watch has graced the wrists of famous | | | | value better than any other timepiece. Providing that |
| adventurers while exploring the South Pole, plumbing | | | | you bought the watch used, a well cared for Rolex will |
| the depths of the ocean and swimming the English | | | | increase in value, while much cheaper brands like Seiko |
| channel. The net result of this type of product | | | | and Casio will, with few exceptions, rapidly plummet |
| endorsement creates a glamorous image that is | | | | towards worthlessness. |
| difficult to resist. Another technique the company has | | | | While other watch brands scramble to maintain their |
| employed is a tight control in its supply chain. Rolex | | | | edge in a rapidly changing market, Rolex , the father of |
| only allows watch retailers to sell at most two | | | | all wrist watches, has reaped the benefits of rigorous |
| watches a year. This ensures that the supply of | | | | construction and marketing methods. Odds are that |
| Rolexes will never outstrip the demand. | | | | Rolex will continue to enjoy a status that few other |
| Rolex's prestigious position in the timepiece market has | | | | products achieve: instead of Rolex changing to pursue |
| also enabled it to escape the precipitous drop in the | | | | its market, the market changes to pursue its Rolex. |
| worldwide sales of wristwatches. The rise of the cell | | | | |