Potential Communication Challenges Potential Communication Challenge Dawnisha Nelson MKT 605 April 21, 2023 Professor Lambe Papoulias
Potential Communication Challenges When branching into new market sectors, you want to ensure you have the right brand and product. It is important to make sure that your team and the company understand the audience and the message that we are making. The company that I selected is Rolex. Established in 1905 by Hans Wilsdorf and Alfred Davis, Rolex SA is a Swiss luxury watch. Rolex is known for its watch-making skills in over 100 countries. Rolex offers a wide range of wristwatches. Rolex SA is a privately held company, which allows it to focus on long-term strategies and investments without the pressure of public shareholders. The new product we will be expanding is the new luxury smartwatch. With everything moving increasingly into technology, branching out into this sector will help with branding and sales. With this, there can be many challenges we can face. One challenge we will face when branching out is our language barrier. When it comes to communicating differently, having someone who speaks the language translation can be challenging. Another challenge is time zones. Setting up meeting online or communicating during the day. The time zones can be different and will be—lastly, the need for more effective communication for the overall processes. Rolex can be somewhat secretive about its operations and financial performance as a privately held company. This lack of transparency may create uncertainty among stakeholders and limit the company's ability to build trust and rapport with the public[ CITATION The \l 1033 ]. Having great commutations to completing the project will play a major role in ensuring everything is sent out on time and in detail. With this new product, we want to ensure that we communicate every bit of detail when creating this product. The new luxury smartwatch made by Rolex will target people on the high end of life. We are targeting the upper class and middle class. This smartwatch will combine the luxury feel of Rolex and the technology of Apple and Samsung.
Potential Communication Challenges Bibliography The Strategy Story. (n.d.). Retrieved from The Strategy Story : https://thestrategystory.com/blog/rolex-swot-analysis/
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