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Pearson Edexcel Level 3 GCE 9BS0/01 2022 Business Advanced PAPER 1: Marketing, people and global businesses

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Extract C Hans Wilsdorf, the entrepreneur behind Rolex When Hans Wilsdorf was born in 1881, wristwatches were mostly regarded as women’s jewellery; no one believed it possible to make watches men ... would want. Aged 24, and despite the lack of support from his peers, he decided to take a risk and began his plan to deliver a modern watch, aimed at the male market. Wilsdorf described how, “while riding on the upper deck of a horse-drawn bus in the City of London, a genie whispered ‘Rolex’ in my ear”. Rolex is a short word, easy to pronounce in every language, and easy to remember. Rolex had style and authority and looked clear on a watch face. Within days, Wilsdorf had registered the trademark. Rolex’s reputation grew, and in 1919 it set up operations in Geneva, Switzerland. Wilsdorf inspired and persuaded the best craftsmen and engineers in Swiss watchmaking to work alongside him. He was a brilliant leader who believed that “Rolex must continuously strive to think and act differently from the rest. Therein lies its greatest strength,” he declared. Wilsdorf insisted that each new watch should be a product of quality. For him, marketing was not just a way to gain sales, but a means of communicating his brand’s reputation. Today, Rolex is a private limited company, owned by the Hans Wilsdorf Foundation, created before Wilsdorf died in 1960 [Show More]

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