In 1880 there was a small family in a city called Bavaria in Germany. The mother and father had a small business with three children and they were living very happily without any major difficulties. But one day the mother in that family health condition of illness but the father also died a few days after the death of the mother. The children who grew up without knowing became orphans at once. Unable to get out of the death of their parents a 12 year old boy went into a depressed state. To get out of that pain he diverted his mind set and did many things to start a new life. Not necessarily because it not just a watch brand but a status symbol but here’s what you need to know is that there are in this world but only Rolex has become a status symbol. But today I am going to tell you what the actual product is and how it transforms an ordinary company into a luxury brand. His uncle sold the property he lost and with that money, Hands joined his two younger brothers in a school but Hands used to stay alone for many days without meeting anyone and was at a temperature. He studied well only for his favorite subjects and along with them he had interest in learning new languages. His interest and learned German as well as French and English but these languages he learned turned his life around. And you will understand first hand that after finally completing his studies in Germany at the age of 19 Hands got a job in a pearls exposing company in Switzerland.
The business of that company is to buy pearls from the local market at a low price and export them to expensive jewelery manufacturing companies and earn huge profits so the hands who observed this understood one thing that the company he was working for bought the items in the demand place without creating any new items. This is the first business lesson he learned in life. After working in that company he got a job in a premium watch manufacturing company in Switzerland, but his job in that company was to verify a few hundreds of pocket watches daily and check how accurate they were. After working continuously in the company the hands He understood very well how the actual watch business works how to make quality watches and what type of watches customers buy the most. After turning 22 Hands again went to London from Switzerland and joined a luxury watch making company as a sales and marketing executive. The watches manufactured by that company should be marketed properly and the sales of that company should be increased by talking about new deals. So after working in that company for almost two years, on one hand I got good experience in sales and marketing of that company. But in this process Hens got an idea that he wanted to use the knowledge and experience he had done till then and establish his own watch making company. He has experience in every field so with this experience he finally decided to start a company
But he did not have enough money for it, but a man named Alfred Davis believed in his idea and came forward to invest in the hands business. Finally both of them established a register together in 1905. From this company they used to import the inner moments of watches to Germany fix them in watch cases and sell them. After doing business for a few days they noticed a problem in the fancy business that is in 1905 many people used only pocket watches which were very expensive at that time because they were small in size and cost more to make so only women wore wrist watches in their jewelry. Partly worn as a luxury item but the problem with pocket watches is that every time we want to check the time we have to stop what we are doing and open the pocket watch to check the time but we do not need to stop what we are doing. For that he went to watch manufacturing companies in many countries and learned how to make small watches and finally he started making wrist watches on his own but in this process he criticized many companies doing watch business in the market because 90% of the watches in the market are just pocket money. If there were only watches Hens filled his entire company with wristwatches he strongly believed that they would be completely eliminated and that is exactly what happened today dominating and making the original pocket watches disappear.
But by the time of 1908 Hands used all the knowledge and experience they had and were making high quality one by one. Demand for rest watches in the market increased slowly and within a few days of starting the business register grew to be the largest watch making company in Europe. There is no proper recognition in the market. Because the watches he manufactures do not have any brand to be remembered by the customers so the hands who noticed this have designed a brand so that it is easy to remember in all languages. The same name Rolex does not have any meaning in the English dictionary. The rich people are buying these watches excessively but the hands are that he used to invest a lot of the money coming in the Rolex business to develop new technology in the same company. In the process he made the world’s first waterproof wrist watch. It is the same Rolex but this watch has a craze among customers. Even though they are waiting for a right time to generate it finally a right time has come to launch the watch that is a girl named Machines in London has made a challenge to cross the English Channel which is more than 20 miles wide between England and France by swimming. The challenge is one of Europe. It became a sensation but many people came to see the event to see if she could really cross or not so they made a deal to wear this Rolex watch around her neck at any time in the sea even if it was the right time.
But in that event the girl failed to cross the sea but the Rolex company was very successful in marketing their waterproof watch but even after she was in the water for about ten hours the Rolex watch was working in perfect condition so because of the event many people in the world have Rolex watches. Quality is very well understood but even after this the Rolex company took the same challenges and promoted their brand by sponsoring events that attract people more. To make you understand this is what happens in Amazon Great India Sale and Flipkart Big Billion Day Sales. They reduce the price of items that are not in demand until then from their original prices and create homogeneity among customers. Do you understand that it is increasing because of this 90% of the goods available in the market work in this way but the remaining 10% of the goods work in the opposite way they are called goods and increase. So generally those goods are of very good quality but not only with quality but to artificially create demand for them by reducing their supply in the market and making customers wait for many days to buy them so this creates hype and they spend many times more than the cost of making it. Because of this no common man in the market can buy it which means it automatically becomes a favorite of the rich and in such a time no matter how much the price is increased the demand for it will also increase.
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