The owners of the Rolex Watch product rely on their understanding of the consumer behavior extensively as many other successful businesses. The consumers of the watch as a product are diverse and they present various factors that lead them towards purchasing the product readily.
The Rolex Watch brand is the leading and most expensive Watch in the market currently. There are several types of the Watch. Moreover, Rolex manufactures watches designated for each of the genders, ages and uses. These are essential factors of consideration in the pricing aspect of the product. For instance, according to information gathered through the interactions with the Rolex professionals, the female gender used to constitute a large share of their customers. However, with the current developments in the market, the company is also manufacturing watches for men in large volumes, meaning that the male population is also a considerable consumer volume of the watches. The aspects of use, it depends on the reasons why the consumer purchases the watch. The latest development in the company is the establishment of the Rolex diving watch. Thus, with such watches, resistant to water, offering quality and accurate time measurement initiates the desire in the consumers to own a watch.
The larger base of the consumer of the Rolex Watch includes the rich people, collectors of antiques and retail business people. The aspect that the Rolex Watch has a high pricing means that the consumers with low income are unable to afford the product. In manufacturing the product, Rolex focus on people with an interest in brand and aesthetic value of products. The watch established itself as a virtually dominant brand in the market, due to its association with class and high social status. The watch enjoys an ego-expressive status in its customers, as they seek the product for various reasons, all related