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Conceptually, Marriott believes that the same guest falls into a different customer profile depending on the nature of the trip taken. Marriott has a product for every price point chain-scale (as defined by Smith Travel Research) except for the lowest economy segment. The company's commitment to quality and steady brand building has resulted in a strong brand portfolio of hotels, vacation ownership and corporate housing brands that associate quality, dependability, integrity and trust with the company's services. In 2005, Fortune Magazine recognized Marriott as the most admired company in the lodging industry for the sixth consecutive year. The company's strong brand name and its unique brand strategy help the company to stay ahead of its peers.
Thought Leadership in Technology-Enabled Services
The company's increased focus on technology is also paying off, as Marriott bolsters its web-based services portfolio. The company's reservation and yield management systems have outperformed the industry for many years. Marriott has the largest, fastest, most user-friendly web site in the industry, Marriott.com, which attracts almost six million visitors every month. Furthermore, the company is able to provide the industry's lowest cost per reservation and lands cross selling opportunities that bring almost $400 million worth of annual revenue. Customer demand for technology is rising as well, and the company is responding to this demand. With high-speed internet access in virtually all its hotels, and nearly 2000 hotels offering Wi-Fi, Marriott leads the industry in keeping its customers connected.
Weaknesses
Over dependence on the U.S. market
One of the key weaknesses of the group has been its over dependence on the U.S. market. The U.S. region accounted for around 90.4% of the group's total revenues. This over dependence has hurt...
Furthermore, the company has only a tiny presence in the vast growing Asian market. This lack of geographic spread in its revenues is a major weakness for the company.
Plagued by a large number of lawsuits
The company is involved in a large number of lawsuits with industry players such as CTF Hotel Holdings and others. These lawsuits claim issues related to breach of duties, mismanagement, unfair pricing and competitive practices and misrepresentation with respect to procurement issues involving the company.
Unstable relationships with owners and franchisees
Marriott's relations with owners and franchisees have been unstable at times. Since owners and franchisees provide the bulk of the investment capital for new Marriott unit growth, it is critical that the company maintains solid relations with these groups. Even by the company's management's own admission, its communications with owners and franchisees have not always facilitated a constructive dialogue. While owners and franchisees acknowledge that Marriott has done an impressive job of maintaining and investing in its brands, they say that the company is not always appropriately concerned about the needs of owners, franchisees, and even, in some cases, guests.
Though, according to the Marriott senior management, the company appears to have recognized the importance of maintaining productive and constructive relations with owners and franchisees, such unfavorable reputation gives the company a negative image among existing and future owners and franchisees. This could in turn affect the company's future growth prospects.
Opportunities
Expansion into China and India
Reports and research indicate that travel and tourism in India and China is expected to grow at twice the
Another strategy companies often rely on are franchising their operations to attain economies of scale and global growth at the same time (Altinay, 2007). Franchising however has significant risk as it requires a high degree of branding consistency and brand enforcement over time (Altinay, 2007). Any expansion strategy has a direct implication on a company's value chain. A merger, acquisition, alliance or joint venture can completely re-define the value chain
This is why those service providers to other businesses often stress customer results in the core industries they compete in. These customer successes show the depth of expertise in a given area. These success stories make services tangible to customers. Marketing strategies used to support this approach include the widespread use of video and interactive online materials to show the problems solved and results delivered with a service. The
Conversely the partnerships of open source databases vendors including MySQL and others have created a strong alliance that has forced Microsoft's SQL Server database team to create customized connectors for these open source applications. Open source, first the subject of an encirclement strategy, is now implementing its own on Microsoft's operating system business. The Linux operating system is now pre-installed on many of the world's leading hardware manufacturers' laptops,
Marketing Principles and Practices to Organizational Goals Section 2 Creating two coherent marketing mix proposals for two marketing opportunities Section 3 Examine Strategies for Implementing Marketing Plans The intent of this analysis is to accomplish three major goals through analysis of marketing concepts and principles, illustrating them through actual examples taken from a variety of industries. The first section is focused on assessing and analyzing the contribution of marketing principles and practices
As tourism would surpass rice exports, in being the number one product or service that the nation provides. This has helped the industry to grow, with various tourists from around the globe going to these destinations and then talking about their trips when they return home. Over the course of time, this has caused many of these new travel destinations to increase dramatically in popularity. The information from this
Business Plan1. Executive SummaryMission Statement: Our hotel provides a comfortable and convenient lodging experience for travelers visiting the Lumberton, NC area, a certified retirement community, where outdoor activities like fishing, golfing, kayaking and canoeing are plentiful (LumbertonNC, 2023). This hotel will strive to provide exceptional customer service, comfortable accommodations, and convenient amenities to meet the needs of our guests, who may be visiting Lumberton for the first time to see