By Doug Eaddy
In my perspective, both Breitling and Rolex are more than just luxury watch brands. They have a legacy of fine engineering, history and innovation in every aspect of their brands. Rolex watches are globally recognized and command respect due to their functionality and their craftsmanship. Similarly, I find Breitling to be an iconic watch brand that promotes elegance throughout its line. Being a fan of both brands, each brand’s timepieces hold a special appeal for their detailed and timeless timepieces. Even though both brands are distinct, their sources of brand equity allow for both brands to exist.
Brand Awareness:
Rolex is the epitome of luxury and success; its brand equity works in unison with its name. Its sponsorship of high-profile events, such as Wimbledon, combined with its effective brand communication to ensure a worldwide appeal. On the other hand, while maintaining a solid brand reputation, Breitling offers a unique brand positioning through its focus on adventure and aviation, marketing to a more specific and loyal base.
Brand Image:
Rolex has positioned itself as a symbol of achievement and class and has successfully kept a distinction between its aspirational messages and storytelling. However, described as strong and cutting-edge, Breitling aims to serve a very different purpose, which is the pursuit of performance focused on functionality. It is for people who appreciate precision and indulge in an adventurous lifestyle.
Price Premium and Elasticity:
When compared to other brands, Rolex has a higher price because it commands a greater appeal. It has great marketing since its price is inelastic. This means that the pricing changes have very little effect on the sales of the brand. However, the price elasticity for Breitling is much higher since it is in a more focused area of the watch market.
Lessons in Brand Management:
Emotion and positioning are two key focus points for both the brands. Rolex appeals to success while Breitling markets targets adventurers. Overall, any brand revenue is supported through marketing because of the awareness of the brands and the value they bring to their audiences.