Marketing Strategy Of Marriott Hotels

Marketing Strategy of Marriott Hotels

Marriott Hotel

In the present global hotel industry, Marriott International is considered one of the leading, fast growing, and largest brands. As a hotel company, it operates more than 20 brands internationally. In the luxury hotel segment, it is the largest and market leader in the hotel industry. It is also known as a multi-diversified hospitality organization that has a broad portfolio of hotels in the market. It has around 3900 hotels, 18 brands, and associates at its headquarters, managed and franchised properties in 72 countries. It was established in the year 1927 by the J. Willard Marriott and handled by Marriott family member leadership for around 85 years and the right now the company is led by President and CEO, Arne Sorenson. All the 18 brands of Marriott are related to Hotels, Resorts, & Spa services, so the company would enter in new business segments to improve its position in the worldwide market. In addition, more than 325000 associates managed company franchised hotels in all over the world. But, in the present time, this hotel company manages and led by the son of Willard Marriott as a President/ Executive Chairman. In the global world, it is the largest hotel chain that has more global business operations in more than 127 nations with 6500 properties. According to the Fortune’s “100 Best Companies list, it ranked 33. The major products of the company are Hotels and resorts. In number of employees, customer base, market share and total revenue, it is the largest hotel chain in the hotel & motel industry. As a global market leader in the industry, the company has shown continuing signs of prosperity and dominance in its industry.

Marriott Marketing Strategy

Marriott Product Strategy: As per this strategy, Marriott is focus on satisfying the needs of the customers. For case, in order to survive in the competitive industry, it pays attention on developing unique product design and features. It considers several factors in developing the product strategy such as: brand name, features, variety, quality, augmented services. As a most well know brand in the hospitality industry, the company had divided its services in three parts including core, actual and augmented which encompasses various services such as: Resorts, Hotels, Lodgings, Hospitability management etc. Maximum revenue and profit is generated by the company from the core product which is hotel. Hotel as a product is categorized into various brands including Fourpoints, Courtyard hotels, Gaylord hotels, Renaissance hotels etc.

Marriott Price/Pricing Strategy: Generally, Marriott charge different prices as per location, and customers. The main purpose of the company is to provide right product at the right price with the best services. The prices of the hotels is depends on customer demand, promotion and maintenance. Basically, competitive strategy is followed by the hotel. It means prices of the services are determined the competition in the market and pricing strategies of competitors. Along with this, it should also be noted down that, prices of services also varies as per the changes in the situation as well as competitor’s behavior. Moreover, pricing strategy is maintained by the company without losing brand name. This strategy is helping the company in maximizing the revenues and profit level in an effective and proper manner.

Marriott Place & Distribution Strategy: Currently, Marriott has developed its image in more than 100 nations across the global world. It established its hotels at major locations of the cities. For example, hotels are located across the city like near central park, airport, highways etc. This strategy provides advantages to the hotel to attract business customers successfully. It is also paying too much attention on acquiring hotels which are near to airport and highways. It is investing too much amount on attracting travelers those prefer hotels nearby airports. It has adopted marketing mix channel strategy which consists of both direct channel and third party channel. This strategy help the hotel in maintain the inventory across the various infrastructures and minimizing the costs. In the selection of a specific distribution strategy, the hotels look into several parameters such as: offering adequate services, specific prices, maximizing growth etc.

Marriott Promotion & Advertising Strategy: Like other hotel companies, Marriott hotel uses several promotional tools to promote and advertise the products or services. For example, general marketing, sales promotion, direct marketing, public relations, Sponsorships, Personal Selling, Digital Promotions etc. are the key promotional tools used by Marriott. But, it mainly pays attention on digital promotion to promote the products and attract the customers. As a global brand, a corporate website is created that showcase all hotel’s products and services in detailed. This is allowing the user to pre-book the room in hotel by using simple process. It is also promote its product/services via videos, advertisement, social media campaigns etc. Marriott Bonvoy customer loyalty program is also launched by the company for its loyal guests. The hotel company is tries to maintain and retain customer base of loyal customers by various promotional schemes.

People: Marriott is only the company in the hospitality industry that known for its quality services for its guests, which is the basic people strategy of the brand. Marriott has more than 1 lakh employees those are well trained, experienced and educated. These deal with the customer with honesty and loyalty. The staff of the company is well motivated to provide outstanding services to the customers. Hence, trust is maintained by the company in the market in an effective and proper manner.

Segmentation Strategy: The Company is also follow a segmentation strategy which is developed based on the buying behavior of the customers. For case, expectations, needs, wants and buying behavior of customer are considered. Apart from this, Age, Gender, Income, Lifestyle, Values etc. are the key factors which are considered by the hotel in order to develop segmentation strategy.

Process: There are several business processes followed by the hotel to ensure quality customer services, efficient bookings and a comfortable stay for customers. In order to retain, attract and satisfy the customer for the long term, Marriott works with a transparent process which is very easy to see, judge, operate.

Physical Evidence: Resorts and buildings are considered the major physical evidence for the Marriott hotel. Most of services offered by Marriott hotel is intangible but it provide customer a lasting physical experience which itself makes customers to return back and retain that experience. Apart from this, other different physical objects of the brand Marriott are their towels, booklets, pens, soaps etc. Hence this gives an insight in the marketing mix of Marriott.

References

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