Marriott is a multi brand company with a Global Portfolio that providing lodging that fit within many market segments. This report will discuss briefly Marriott’s Portfolio of hotels, what they do, briefly examine a number of their key marketing strategies and examine how they are implemented, measured and ask the question does this make them market leaders?
The final part of this report will try to identify if there are services or products that can be improved upon or a marketing strategy that can be approved or changed.
Marriott International within their respective market segments are one of the largest hotel groups globally. The Marriott brand ranges from 5 star luxury products to 3 star moderately priced lodgings. Samples of Marriott’s brands are: JW Marriott Hotels & Resorts (5 star luxury), Marriott Hotels & Resorts (4 Star), Renaissance hotels and resorts (4 star), Courtyard by Marriott (3 star), Residence Inn by Marriott, (long stay lodging) Fairfield inns (basic 2 – 3 star lodging)
Marriott quickly identified that their travellers were becoming more sophisticated in what they wanted and needed, as there are many segments within the hotel industry. Marriott saw the opportunity to cater to these many different requirements, needs and wants.
Marriott did this by identifying different lodging requirements, which ranged from 5 star to 3 star and introduced market segments for these needs.
Within the hotel industry there are leisure and business travellers. Leisure travellers can fall into demographics ranging from low income to high income households. This will determine where they will stay while on holiday. A higher income household is more likely to go for luxury, 4-5 Star hotel brands than those on lower incomes where price is a key factor and more moderate accommodation is required – It could be argued that Marriott’s segmentation caters for all demographics with the brands detailed above.
Marriott conduct extensive market research from GSS and the Loyalty Programme (Marriott Rewards) to measure brand awareness, consumer perception of the Brand and track the trends of the industry and the consumer. From these programmes it enables Marriott to check brand performance against the competition and identifies an added extra for the customer. An example of how this information is used and executed:
Marriott created a strategic alliance with Hertz Rental Car early June 2008. This allows guests access to do car rental at hotel level by one of the following services: •On-property concession stand or desk,
•Direct dial lobby reservation phone, or
•Concierge/hotel staff referrals.
This is an added value service that goes above and beyond to meet and exceed customer needs. There are few hotels groups that appear to have implemented such a dedicated system globally. In addition to this agreement, there are also cooperative marketing initiatives in the areas On-Property Presence, Marriott Rewards, E-Commerce, Marriott Vacation Club and Reservation Call Transfers. (Marriott Global Source Intranet Site, Marketing, International field marketing, hertz rental car partnership, April 26 2007)
Marriott have Individual Brand Marketing Plans for the following Business Segments: JW Marriott International
Marriott use Strategic Planning and product positioning for each of these segments that allow them to Drive, Manage, Capture Demand and Generate Loyalty. (Marriott Intranet site, Sales & Marketing, Marketing Plan 2007 /2008)
CREATING & MANAGING DEMAND
They key objective for Marriott in this segment is to maximise opportunities (Revenue) in each business segment. The Business Segments are: Business Accommodation, and Catering – (such as weddings, large diners etc). Marriott would appear to be leading the market by...