Marketing Analysis for Patek Philippe and Rolex by: Joe Tylutki

TABLE OF CONTENTS:

I. Introduction II. Situation Analysis III. Marketing Planning IV. Implementation and Control of Marketing Plan V. Conclusion

INTRODUCTION:

Keeping track of time has been a major part of human life and has been used since the beginning of man. For thousands of years devices have been used to measure and keep track of time. Sexagesimal systems have been used to keep track of time and dates back to nearly 2000 BC, in Sumer. The Ancient Egyptians used the movement of the sun to capture time by using large Obelisks. They divided the day into two 12-hour periods, which the human population still uses today to keep track of time (Wikipedia). Government SIC code 3873 Watches, Clocks, Clockwork, and Device/Parts have a myriad of directions that can be utilized to help one understand a specific field within this SIC code category. This marketing analysis will focus on two very distinctive wristwatches that are considered to be the best in the 3873 SIC code category. These two hand crafted wristwatches have been around for many decades and have change the way consumers tell time. The two brilliantly crafted wristwatches are that of high-end quality, design, the names of these high-end luxury wristwatches are Patek Philippe and Rolex. Each of these wristwatches possesses unique qualities that differentiate them from others. Patek Philippe invented the first wristwatch in 1868, which was a spring winding mechanical watch. The watch was intended for use by women as a bracelet and categorized as jewelry. It wasn’t until 1904 that Alberto Santos-Dumont, an early aviator, asked a friend Louis Cartier to design a watch that could be useful during flight. Polish watchmakers Antoni Patek and Adrien Philippe in Geneva founded Patek Philippe & Co in 1851.