Introduction
Attaining marketing success requires extensive work to produce a targeted advertisement, obtain high-quality materials from the suppliers for a relatively low price, and monitor customers’ reactions to the products for timely adjustments. Indeed, an organization’s successful outcome is directly related to the genuine effort of the team in specific projects. The two such examples are Rolex and IKEA, the luxury watch producing firm and furniture making company that achieved leading positions on the market. IKEA owns more than 420 offices, selling home furniture and accessories in 50 countries (Singh et al., 2021).
Rolex is a legendary and the most prestigious watch manufacturer globally available only through reliable retailers (Marchl, 2019). Indeed, it is probably impossible to find someone who has not heard of or dreamed of purchasing items from these brands. These two companies reached marketing success due to their commitment to producing superior design and quality products, giving consumers a valuable sense of belonging to a unique group, encouraging more purchasing, and attracting new clients.
Rolex’s Marketing Success
Rolex is a century-old luxury watch-making Swiss company that produces the most respected products. It was initially founded in London by Hans Wilsdorf in 1905 but then moved the main office to Geneva in 1920 (Rolex, n.d.). His first invention was a precise wristwatch that could withstand various harsh conditions. The professionals from many different fields work in this company, perfecting the brand. Moreover, to ensure that knowledge of product excellence perpetuates, Rolex opened the training center for younger generations (Rolex, n.d.). The firm’s target consumers are men above the age of 35, which indicates reaching a particular financial status (Marchl, 2019). Although the company produces the most expensive watches, they were able to maintain their reputability and demand worldwide.
Rolex does not follow conventional marketing rules but creates its own guidance for success. The first reason for these accomplishments is producing almost flawless products tested multiple times in real-life conditions (Marchl, 2019; Rolex, n.d.). Secondly, the company follows its luxurious design without considering customers’ wishes or mainstream trends, preserving the brand’s aesthetics (Marchl, 2019). Thirdly, Rolex seems to protect its cohort of clients by sponsoring events that only affluent people can attend (Marchl, 2019). Fourthly, its advertisement communicates utilitarian and economical brand utility (Marchl, 2019). Lastly, the firm advertises its products, not for selling but possibly for creating allure among the non-target audience. Indeed, it appears that Rolex no longer needs promotion campaigns or online distribution to increase sales because they always have consumers ready to pay for their products.
IKEA’s Marketing Success
IKEA is a home accessories and furniture manufacturing company presented in many countries. It was first founded by Ingvar Kamprad in Sweden in 1943 to provide customers affordable items of unique design and high quality (Singh et al., 2021). Indeed, IKEA’s mission is to make furniture that is “a perfect combination of beauty, practicality, quality, sustainability, and low price” (Singh et al., 2021, p. 19). More than 270 IKEA stores in Europe, 67 retail stores in North America, and 89 and 11 offices in Asia and Oceania, respectively, collectively generate more than 40 billion euros per year (IKEA, n.d.; Singh et al., 2021). It seems that this company implemented every marketing strategy to attain its international success.
Almost all IKEA’s methods revolve around improving relationships with clients and attracting new ones. Firstly, the company wants its customers to have a pleasant shopping experience in offline and online stores; therefore, all unnecessary items and advertisements are removed. Indeed, this firm adopted Internet advertisement and sales to its practice relatively quickly, which enabled IKEA’s commercial success (Singh et al., 2021). Secondly, every piece of furniture in IKEA’s showrooms has a price label (Singh et al., 2021). These showrooms not only give people designing ideas for their houses and provide a comforting view but also elicit a higher buying behavior.
Thirdly, it appears that every product is designed and manufactured from eco-friendly materials, which are purchased from reliable suppliers, making environmentally sustainable furniture, the topic that currently concerns many consumers (Singh et al., 2021). Lastly, IKEA constantly modifies and improves its products’ design and quality, providing clients with a rich choice for a reasonably low price.
Conclusion
In summary, attaining marketing success might seem challenging but not impossible, as seen from the two presented examples, Rolex and IKEA. The main recipe for financial prosperity in business appears to be manufacturing high-quality products, respect for the target market segment, preserving the company’s culture, and constant advancement. However, as Rolex’s assessment showed, the low cost seems insignificant in the marketing success of luxurious brands, but essential for items of a daily need such as IKEA’s furniture.
Reference List
IKEA (n.d.) About us. Web.
Marchl, P. S. (2019) ‘The consistency of marketing in the target group approach of watch companies: a comparative analysis of Rolex and Swatch image advertisements through the decades’, In Heinemann, S. (ed.) Werbegeschichte(n). Wiesbaden: Springer VS, pp. 73-92.
Rolex (n.d.) Rolex history. Web.
Singh, P., et al. (2021) ‘Key determinants of international retail success: a case of IKEA retail’, International Journal of Tourism and Hospitality in Asia Pacific, 4(1), pp. 18-33.