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"Swiss Watch Company ROLEX and how they manage customer satisfaction, loyalty and what the company does to foster customer relations"
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The same include use of titanium and ceramics, apart from gold and diamond in their watches, as well as launching creative customer relations management (CRM) modules to keep the existing customers, whiling adding the new ones.
Keeping the quality and customer satisfaction in view, Rolex watch company has limited its production of watches, till recently, between 650000 to 800000 per year. Hence, the demand for their prestigious time pieces has always been more than the production and supply figures, while the waiting list for their stainless steel Daytona watches goes up to five years, at times.(Liebeskind, What makes Rolex tick) & ( Smith, 1996) However, with their planned new production facility at Bienne, the company hopes to add around 400000 cubic meters of quality work space that can cater to almost 2000 employees, in the year 2012….(Swiss watch news, 2009)
Rolex watches are made as per the specific customer requirements. For example, Rolex Submariner and Rolex Oyster were designed keeping in view the water sports, while their Explorer range of watches was developed specifically for mountaineers and those needing use of watches in rough and inhospitable terrains. Similarly, Rolex GMT Master was designed to assist pilots with multiple time zones, as the company developed these watches in 1954. While product innovation has been of supreme importance for the company, their time pieces and wrist watches are remembered for reasons other than finding time or date. For example, Rolex gained huge media attention, when its Oyster Perpetual wrist watch helped in solving a murder mystery of English Channel, in 1996…..(Morgan, Good reasons why to buy Rolex watches)
In addition, the company has least dependence on its suppliers as most of the quality control measures are in-house, for every stage of manufacture. As the entire manufacturing process of the company
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This research paper focuses on the ways and means of sustaining customer loyalty of the brands. This study evaluates the different components and elements that work to build the customer loyalty. It addresses the research question of what exactly is it that results in the loyalty on the part of the customers.
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