Pricing Strategies of Hilton Hotel

Topics: Hotel, Hilton Worldwide, Hotel chains Pages: 8 (2235 words) Published: December 3, 2013
Market Segmentation of Hilton Hotels

Date Due

Monday 25th of November 2013, 4pm

No of Words

2000

Topic Chosen
Market Segmentation

Word Limit:

2000 (+/- 10%)

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CONTENT

1.0 Introduction……………………………………………….2 2.0 Definition of Market Segmentation……………………….2 3.0 Market Segmentation of Hilton……………………………3 3.1 Demographic Segment and Hotels of Hilton…………..3
3.2 Geographic Segment and Hilton Hotels’ Strategy……..5 3.3 Psychographic Segment and Hotels of Hilton………….5 3.4 Behavior Segment and Hilton Hotels’ Strategy………..6 4.0 SWOT Analysis…………………………………………....7 4.1 Strengths………………………………………………..7 4.2 Weaknesses……………………………………………..7 4.3 Opportunities……………………………………………7 4.4 Threats…………………………………………………..8 5.0 Recommodation…………………………………………….8 6.0 Conclusion………………………………………………….9 7.0 References………………………………………………….11

INTRODUCTION
In this modern hospitality markets, managers are straightly seeking for the greatest methods to approach and give service to their guests. Market segmentation is the one that dividing the whole market into some small parts, which we also called submarkets. Also service and products, which are branding, play significant parts in these market activities. Whatever in a national scale or international scale, there are various consumers needed to be treated separately. In this situation, market segmentation becomes important in the market, which should be considered by managers in the hotels. In this report, I determined to introduce the Hilton Hotels Corporation, a five-star hotel, which is an international and global chain hotel, and is the leader of the world in accepted hotels. At now, it has over five hundred Hilton-brand hotels, which offer various hotels to disparate travellers. Today, Hilton’s brand has become the symbol of ‘Outstanding’ ‘Noble’ and ‘Luxury’. Its brand family covers luxury hotels, medium-priced hotels as well as a brand for long-term staying. DEFINITION of MARKET SEGMENTATION

Market segmentation is a course, which names and segments wide product and service markets to find potential and attractive target markets. Based on the theory and investigation, said “Segmentation is the process of partitioning markets into groups of potential customers with similar needs and characteristics who are likely to exhibit similar purchase behavior. It has emerged as a key marketing planning tool and the foundation for effective strategy formulation in many companies. The objective of segmentation research is to analyze markets, find niche opportunities, and capitalize on a superior competitive position. This can be accomplished by selecting one or more groups of users as targets for marketing activity and developing unique marketing programs to reach these prime prospects.” (Weinstein, Art: Market Segmentation, Revised Edition, Probus Publishing Company, Chicago, 1994) There are four classical methods to segment the markets. The first one is geographic, that is to say, people are categorized based on their geographical characteristics, such as regional or nationality. Second one is demographics, which means according to their demographic characteristics, for example, age, income or marital status to divide the population into different groups. The third one is psychographics, take customers’ views and attitudes, people are differentiated, for instance, value systems, motives and life styles. Last one is behavior, which according to their relationship with special types of...

References: Trout, J (1969). ""Positioning" is a game people play in today’s me-too market place", Industrial Marketing, Vol.54, No.6, (June 1969), pp. 51–55.
Ries, A. and Trout,J. (1981) "Positioning, The battle for your mind" .Warner Books - McGraw-Hill Inc., New York, 1981, ISBN 0-446-34794-9
Trout, J
Moore, G. (1991) Crossing the Chasm, HarperCollins Publishers, 1991.
Levi, K. (2007) "Differentiate or Diminish: The Art and Necessity of Business Positioning", (March 2007), p. 9
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