MARKETING PLAN OBJECTIVE The main objective was to foster customer retention and loyalty increasing cross-property usage. The number of multi-property guest stays should be increased to 10% from the 5% rate experienced during the last year. MARKETING SITUATION Problem situation: Rosewood brand was muted, not very well known but it was not clear what is the best corporate branding strategy without destroying the value of each individually branded hotel and loosing a customer. A new branding strategy proposing an increased customer profitability and lifetime value is needed. Company. Rosewood is a 25 years old luxury private hotel management company having 12 hotels in different countries. The company is known by unique, “one-of-a-kind properties” with very luxury style. The total rooms capacity worldwide is 1513 rooms. The company has only 5% of cross-selling rates, which is one of the lowest in the industry compare with corporate branded hotels (10%-15%) and individually branded hotels (5%-10%). Competitors. Rosewood is competing with corporate branded properties and individually branded properties. Main competitors are: • Corporate branded properties: Ritz-Carlton, Four Seasons, St. Regis, One&Only and Mandarin Oriental • Individually branded properties: Auberge, RockResorts and Orient Express Compare Rosewood % property growth 1996-2003 it is ... ... middle of paper ... ...,67% 21,67% 21,67% 21,67% 21,67% Discount factor 8% 8% 8% 8% 8% 8% 8% Net present value 2.302,64€ Financials: calculating Customer Lifetime Value WITHOUT Rosewood Corporate Branding Years 2003 2004 2005 2006 2007 2008 2009 Gross profit per guest (6% growth per year) 576 579,5 582,9 586,4 589,9 593,5 597,0 Acquisition expense per new guest 150 150 150 150 150 150 150 Marketing expense per guest (3% increase per year) 130 130,4 130,8 131,2 131,6 132,0 132,4 Net profit per guest 296 299,1 302,2 305,3 308,4 311,5 314,7 Retention factor 16,67% 16,67% 16,67% 16,67% 16,67% 16,67% 16,67% Discount factor 0,08 0,08 0,08 0,08 0,08 0,08 0,08 Net present value 1.584,52€
Sarkar, A. N., & Singh, J. (2005). New paradigm in evolving brand management strategy. Journal of Management Research, 5(2), 80-90. Retrieved from http://search.proquest.com/docview/237238894?accountid=28644
... look out for high profile contacts and good image building activities especially due to the on going outsourcing concern. As community theatre boards include executive level staff these consulting companies could get high visibility and a sophisticated image by pairing up with something as ?cultured? as theatre. These companies can be requested by the boards of community theaters to sponsor the building and maintenance of the theatre websites in exchange for good PR and contacts.
A brand is utilized by a company to differentiate its products from others in the market. Some techniques for accomplishing this are through the use of distinguishing logos, names, color schemes, and slogans. An effective branding strategy is one of the most important components for gaining a significant advantage in a progressive market. Basically, a company brand is its promise to its customers about what can be expected from its product and how it differentiates from the competitors. The branding strategy is the part of the marketing plan that explains how and to whom the company proposes on conveying its brand messages. It will also explain where the company plans to advertise and what it will publicize both visually and verbally (Williams, 2013). Home Depot’s marketing plan will contain domestic and global branding strategies and will be a collaboration of brand messages from both Home Depot and Reach the Top®.
There are several types of branding strategies that companies use when branding an item or service: multiproduct, multibrand, reseller, co-branding, and mixed. The scenario in this assignment, presents a proposition by the Vietnam government to the Stanford Medical Center. This would include a co-branding arrangement in which Stanford would manage the facility and send several of its clinicians to guide and instruct the Saigon facility doctors and nursing staff. The purpose of this paper is to 1) discuss the various types of branding strategies, 2) present risks to be considered in accepting the arrangement, 3) discuss the benefits of co-branding and whether or not the arrangement outweighs the risks associated with today’s
Branding; - branding is the process of creating name, image or logo for the product in consumers mind through advertising theme. In H&B branding gives the ability customer to recognise them through their business name, design and healthy products. The benefit of branding in H&B is customers are likely to remember their products and their strong images and their colourful colour of the store to recognise them. Other benefit of branding for H&B is it serves convenient container for reputation and good will. Loyalty when customers have experience with brand and customers are likely to buy their products again.
Each year, America’s travel and tourism industry generates approximately $1.5 trillion dollars in economic output, or about 2.6% of the country’s gross domestic product (Select USA, 2016). Nearly 20% of this economic activity is directly related to accommodations, which serve the short term lodging needs of pleasure and business travelers. Unlike other American economic sectors, this lodging industry is a highly fragmented, diversified market with an incredible variety of suppliers. Temporary overnight lodging can range from undeveloped campsites, hostels, and capsule hotels all the way up to mansions and incredibly luxurious five store hotels. Price ranges run the gamut from just a few dollars a night to thousands of
1. The philosophy behind the 100% Satisfaction Guarantee is to have the guests act as quality-assurance inspectors by identifying quality deficiencies and reporting them to hotel employees. I do think that this is a good way to improve service quality; however, I am not sure that it is the best way. While it may seem to consumers that employees will try harder to satisfy them, if employees are empowered to refund a customer’s money, they do not have to answer to management, they can just do it.
-“Emphasis on individual property brands was not working from a number of fronts. Guests are seeking a unique Rosewood property experience and are not making the connection between Rosewood properties and are increasingly indentifying with other strong hotel brands.” –Scott and Boulogne
Finally, Marriott also had to measure how this vision is performing. They are looking at 3 success measures; Loyalty, Profitability and Growth.
We propose a branding strategy which takes into account the brands capabilities and competencies, strategies of competition brands and the outlook of consumers experience in their respective societies. As an international brand there is the challenge of staying connected with local customers. We will overcome this by adapting marketing strategy to local needs using a variance of standardized marketing mix and an adapted marketing mix.
History of Hilton hotel has been very interesting as it started as Mobley Hotel in year 1919 a small building. Because, when the company started it had no plans or ideas of expanding, the sole purpose was to serve as a place for the travelers to stay where they can comfortably enjoy a night or few and carry on towards their journey. After twenty-seven years of business and hard work, this small hotel went nationally in eleven states within United States, known as Hilton. Currently they have four thousand worldwide properties, either directly owned or franchised (including third party), in seventy-eight countries. Hilton even though allows franchises but there policies remain the same and direct Hilton officials do all the upper level management. The company name Hilton understands for Hosp...
The hotel industry performs within a saturated market, driven by customer loyalty and competitive pricing to stand-out. This competitive nature makes it extremely important to capitalise on strengths while improving on
One of the reasons for success for the Best Western is their unique business model. Unlike other franchise companies, their property owners own the brand. They all focused on driving value to the brand and ensuring the long-term success of Best Western. Another part of the formula to their success is their spirit of caring which was parts their organizational culture. One of Best Western’s saying is “Treat your guests like family”. Best Western’s vision is to have their company have the ultimate customer satisfaction. Once costumers are service by this company majority of the time it forms into a long-term relationship. With this, they are inspiring their staff to create emotional connections with their guests.
The most prestigious name in the industry, Hilton Hotels & Resorts stands as the stylish, enthusiastic and global leader of hospitality. With over 92 years of experience, Hilton continues to be synonymous with hotel because of innovative approach to products, facilities and service. They help make traveling easier with smart design, innovative restaurant concepts, authentic hospitality and assurance to the global community.
Branding is also a way to build an important company asset, which is a good reputation. Whether a company has no reputation, or a less than stellar reputation, branding can help change that. Branding can build an expectation about the company services or products, and can encourage the company to maintain that expectation, or exceed them, bringing better products and services to the market place.