Company Name: Rado.
Founder: Ernst Schulp, Fritz Schulp and Werner Schulp.
Rado is one of the famous companies producing exotic watches. It is Switzerland’s most luxurious watchmaking company. The company is massive and it produces about half a million watches a year.
How it all started
Rado became one of the famous companies in the USA. The vision of the company was to make elegant watches for the various needs of the customers. The aim of the company is innovation to enhance the utility of the product.
They wanted to become one of the top sellers of watches and to attract customers to wear their watches giving them the best watches and keeping their price reasonable.
Rado was launched in 1950 with its headquarters in Switzerland. And then in the year 1957, the company first launched its collection of watches under the Rado brand. Then in1962 the company launched its very own innovation in the world of watches the ‘Rado Diastar’, it was the world’s first scratch-proof watches in the country and sold as Diastar the Original watches.
In 1983 Rado merged with the SSIH to the SMH group and renamed as the Swatch Group.
Marketing strategies and success of Rado
Product Quality and design of the products:
Rado is known for its quality products and is priced accordingly for their different categories of watches. The quality of the materials used in the manufacture of the wristwatches includes hard metal, ceramics, crystals, and exotic diamonds.
The build and design of the Rado watches have been recognized worldwide The collections of Rado watches include Hyperchrome, Diamaster, Ceramica, Centrix, and others. The products of Rado have been in demand due to its aesthetic looks and feel. In terms of design and innovation, Rado is always one step ahead of its rival companies.
Price–Rado being a luxury watchmaking brand tries to provide its customers with the best watches and has a wide range of prices. The prices of Rado watches range between 700 dollars to 30,000 dollars. Along with this the watches with precious stones like diamonds are priced at more than 50,000 dollars and got up to 250,000 dollars.
The prices of Rado watches are not fluctuated to give a tough competition to its rival companies, and the prices are decided by Rado itself based on the premium quality of their products. Rado does not offer any kind of discounts for its consumers rather there are schemes introduced by retailers to encourage the customers to invest in their products.
The spread and distribution of their watches: Rado being the famous Swiss watchmaker has a wide distribution network in some of the major countries. They have a large number of retailers selling their watches.
These retailers targeted the major location in the cities, posh areas where the high-class customers would notice their counters. This move was needed to reach the targeted customers who would invest in these premium watches.
Online selling of the products: Apart from the retailers selling Rado products exclusively or keeping it in a mix with other premium watches. Rado decided to have its online website where they exclusively sold their products to reach out to a wide number of customers.
Customer service: Rado being an international brand selling premium quality watches provided the customers with excellent customer service. They knew that the buyers of the watches belonged to the higher strata of consumers and these watches act as a kind of status symbol.
For the convenience of these customers, service centers are present in different cities to cater to the needs of consumers and provide quality service.
Promotions: The Company allotted a fixed amount of money deemed for its sales promotion they knew the importance of promotion to strategically grow the firm. The brand decided carefully the total amount of money for promotion and then it is budgeted for different activities.
They invested in various fields including sponsorship and promoting their brand in other media’s of communication like TV. They also took part in various social activities for the betterment of the society which also became one of the important reasons for Rado to be in the good books of the customers and enhancing the overall goodwill of the brand.
Awards: Rado has consistently maintained its brand value and the quality of products. Rado became the successful watchmaking companies in Switzerland. Rado has received more than 30 awards for its products build and design and standing out from its rival companies.
Rado gave into various campaigns to promote its brand in the form of advertising its products on television and also on every social media sites. They also sponsored various event, activity or organization financially to create more awareness of the products and their services.
Various celebrities also endorsed their products like Hrithik Roshan from the Bollywood movie industry along with the famous cricketer Virat Kholi which added more to their brand value. Other famous personalities like Usain Bolt, Nicole Kidman, and Rolando is seen endorsing their watches.
This becomes an excellent form of communication where organizations brands or products are marketed to a targeted audience. This paid form of communication can reach a wide number of audiences and Rado was successful in doing that.
Rado became one of the revolutionary companies in the world of premium quality wristwatches. They tried to change the idea that watches are not only a desirable product for men but also for women it can be a great style statement. The Rado wristwatches are an indicator of social status and particularly for the upper class of the society. Rado’s vision of making the wristwatches a product adding and enhancing the personality of an individual in this present era is a successful one.
Rado became a successful brand in the watch industry because of the liberalization of the global market rose purchasing power of customers. Though Rado’s unique and latest design, luxurious image and Swiss high range manufacturer of watches and is recognized for its use of scratch-proof watches and considered a pioneer in this field.
Rado has now over 470 working staff. Rado watches obtainable in more than 150 countries and has the most important markets in Southeast Asia and Japan.