The Importance of Market Research: The Marriott Company
The Marriott Company is a successful lodging and hospitality company. It is a company that is internationally recognized and has nearly 3,700 properties, 18 brands in 72 countries and territories worldwide (Marriott, 2012). With such success and worldwide prominence, it is no mistake that it operates with a winning formula that includes market research. "Our relentless focus on innovation and action fuel the way we do business" (Marriott, 2012). Organizations, like Marriott, not only have to compete in a rapidly changing technological environment and a highly diverse global environment, it must consider the importance and role that marketing research plays. Operating in such a competitive industry, the Marriott Company has realized that to be successful and survive for the long term, it incorporates market research in its business practices. This paper will define market research; identify the types, and the importance of marketing research that the Marriott Company uses.
Define Market Research
According to the text, marketing research is defined by the American Marketing Association as "The systematic gathering, recording, and analyzing of data with respect to a particular market, where market refers to a specific customer group in a specific geographic area" (McDaniel & Gates, pg. 6). Marketing research serves two basic functions; first to provide data and insight to a company's decision makers and second to use the data to determine new opportunities for a company (McDaniel & Gates, pg. 6). Through the years, Marriott has used market research for opportunities to expand its brands. In the 1980's Marriott identified an opportunity to expand its target market a...
... middle of paper ...
...s are essential to its growth domestically as well as globally for the long term. Despite its success with the Courtyard by Marriott, the company continues to expand. “Marriott is a growth company outside the U.S. Thirty-eight percent of all full service hotels are now open outside the U.S. and the growth in international distribution is aggressive and fast. We are expanding into new markets where Marriott is not known.” (Babitch and Chen).
Works Cited
Interviewed by Steven Babitch and Joyce Chen. Edited by Patrick Whitney. Design for the Emerging Markets: Interview with Marriott International. October 12, 2005. Retrieved from:
http://trex.id.iit.edu/events/china/iit-emn_marriott.pdf
Marriott Website, 2012. Retreived at: http://www.marriott.com/default.mi
McDaniel, C. & Gates, R. (2006). Marketing research (7th ed.). Hoboken, NJ: John Wiley & Sons.
Burns, A. C., Bush, R. F. (2006). Marketing research: Online research applications (5th ed.). Upper Saddle River, NJ: Prentice Hall.
McDaniel, C. & Gates, R. (2006). Marketing Research (7th ed.). Hoboken, NJ: John Wiley &
This research seeks to reveal the importance of marketing strategies in today’s complex and competitive business world. For this reason, this study will discuss various theories, issues and approaches of the marketing linking them with W.L. Gore & Associates and thereby propose the best options, ideas, strategies and techniques for the improvement of the company. To reach the points, this study will especially collect secondary and qualitative data and information.
Marketing research can be defined as the “planning, collection, and analysis of data relevant to marketing decision making and the communication of the results of this analysis to management” (McDaniel & Gates, 2006, p. 7). H&R Block uses marketing research to find how well their customers enjoy their services and how they can acquire more clients. They use marketing research to find out how much their competitors are saving their clients from their tax returns and then compare the statistics. H&R Block then presents that data to future clients by promoting through television advertisements and local, face-to-face interaction, specifically during tax season. H&R Block has conducted marketing research in the South Austin, Texas area and found that a large demographic is Hispanic. The company later developed marketing campaigns that would cater to a new Spanish speaking cliental.
Whenever a company has a new product or service it would like to offer to the public there are always questions it needs to answer and analyze first. For instance, who is the target market or markets we want to appeal to? Is the market receptive to a new entry or are the products or services already there sufficiently entrenched barring any successful new release into the market? How well will our product or service address the wants and needs of our customers? The answer to each of these questions requires this firm to conduct research, specifically market research, to gain the knowledge they seek. Using the Valley Yellow Pages Company as an example, this paper will define market research, identify the different types of marketing research used, and describe the importance of this research to the organization.
Disney resorts currently exist in numerous locations across the world. In an effort to expand to South America, Disney must determine how potential customers, as well as locals to the Rio de Janeiro locale would feel about the new resort. Disney must utilize marketing research to make this determination, and the following discusses the four types of research methods Disney might use. Determining the research tools is an important step for the company because they are the ones that will be used to collect and analyze the data to determine the needs of the market. The objective is to examine the applicability of four different research tools such as surveys, questionnaires, focus groups and in depth interviews. The analysis will allow Disney to determine the most applicable research tool to obtain data used to make important decisions. There is also a compare and contrast section discussing pros and cons of each tool, as well as an analysis of which tool would be most effective to Disney. Finally, there is a definition of secondary market research as well as a description of how Disney will use secondary market research to determine how the resort would fair in such a location.
Marketing research is the systematic design, collection, analysis, and reporting of data and its findings relevant to the specific marketing situation that a company faces (Kotler, 2012). By researching the motorcycle rider, Allstate is able to identify who they are and what they experience. In 2008, Allstate conducted a “Who’s Behind the Helmet” survey. They defined their qualifications as a motorcycle owner who is 18 years of age or older with an income of $50,000 or more. (Floyd, 2008). The 500 person sample size produced insightful and interesting details for Allstate. Jeff...
Polaris Marketing Research (2008). Marketing Research Process: An Overview. Retrieved May 8, 2008, from http://www.polarismr.com/edctr_overview.html
I am doing my marketing case study on Marriott Forest Of Arden hotel and country club.
Marriott did come up with a vision; To be the number 1 hospitality company in the world.
The main aim of this discussion is to discuss the main aspects that are very important in planning and implementing the activities of marketing in the global context. Once all the issues have been addressed, the organisation then needs to plan out the global marketing strategy. Marketing research is the core area of marketing, as the entire marketing strategies depends on how well the organization has conducted the research of the market. Mar...
Grover, R & Vriens, M 2006, The handbook of marketing research: Uses, misuses, and future
Malhotra, N.K., 2002. Basic Marketing Research: A Decision-Making Approach. Upper Saddle River, New Jersey.: Prentice Hall.
I have chosen the market research because it is the very first step of most economical process. Philip Kotler (1994) define the marketing research as
Moreover, the InterContinental Hotels & Resorts is considered the first international hotel brand in the world, as it began operations in the year 1946 (About InterContinental Hotels Group Brands, 2015). Over time the hotel group has evolved to encompass quality hotel rooms not only in North America, but in Central and South America, Europe, the Middle East, Africa, Australia, and Asia-Pacific (IHG – InterContinental Hotels Group, 2015). In addition, they have acquired extended stay facilities and the Hualuxe Hotels & Resorts, which specifically “celebrates the essence of Chinese hospitality” (About InterContinental Hotels Group Brands, 2015). In my opinion, this shows that their target market has changed by expanding their scope of travel, which means they are traveling to farther and farther locations and require the familiar surroundings with equivalent product quality at the final destination. The InterContinental Hotels Group is in the fourth and final stage of the product life cycle, which is the decline stage (Editorial Board, 2014, p. 212). Indeed, the brands lengthy history indicates it has loyal customers, but its addition of innovations indicates the targeting of new customers for the organization, which are clear signs of a business in the decline stage of the product life cycle (Editorial Board, 2014, p.