Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Positioning Strategy of the Ritz-Carlton
To continually improve their premier brand status as a luxury hotel, Ritz-Carlton needs to continually strive to exceed customer expectations by delivering excellent customer service and experiences. Part of this positioning is creating premium hotel locations that are elegant and opulent. The most critical however is the training and development that the Ritz-Carlton staff receives in customer relationship management and customer service. The greatest innovations to premium brands occur when customer experience management becomes the primary priority over pricing or promotion alone as parts of the marketing mix (Salazar, Costa, Rita, 2010). The intent of this analysis is to show how Ritz-Carlton can continually gain greater market share by concentrating on the customer experience, modifying their services strategies to align with customer needs and requirements.
Analysis
Luxury hotels compete on service more than any other dimension of their marketing, selling,...
This is a direct result of standardizing and streamlining the most complex customer processes they have with a continual focus on making them exceed customer expectations while also ensuring efficiency and profitability over time (Luk, Layton, 2004). Ritz-Carlton has done this by creating a series of methodologies for measuring customer satisfaction and comparing those to the expectations customers have of their experiences at hotel locations (Chesbrough, 2011). The methodology used by Ritz-Carlton to accomplish this is called Service Quality Methodology or SERVQUAL (Getty, Getty, 2003). Using SERVQUAL, Ritz-Carlton is able to know exactly what parts of their service strategies need to be changed, which ones can stay the same, and which need to be discontinued. This precise definition of services strategies and their optimal mix will determine the long-term customer satisfaction of the chain, providing the hotel with direct feedback on how effective their selections…
References
Chesbrough, H.. (2011). Bringing Open Innovation to Services. MIT Sloan Management Review, 52(2), 85-90.
Dube, L., Enz, C.A., Renaghan, L.M., & Siguaw, J. (1999). Best practices in the U.S. lodging industry. Cornell Hotel and Restaurant Administration Quarterly, 40(4), 14-27.
Juliet M. Getty, & Robert L. Getty. (2003). Lodging quality index (LQI): Assessing customers' perceptions of quality delivery. International Journal of Contemporary Hospitality Management, 15(2), 94-104.
Kumar, S., Phillips, A., & Rupp, J.. (2009). Using Six Sigma DMAIC to design a high-quality summer lodge operation. Journal of Retail & Leisure Property, 8(3), 173-191.
For Tresemme, for example, the color scheme and general layout of the package is consistent with other Tresemme products and is not specific to the dry shampoo product. Packaging -- Recommended Given that the pricing need not change, the package size does not need to change either. The layout and color tone are dictated by the overall branding of Tresemme so are going to be difficult to change. Two aspects of
Resource/Competitive Positioning Comparing and Contrasting Resource-Based Strategies with Competitive Positioning Strategies Resourced-Based Strategies Competitive Positioning Strategies Strategies For-Profit in the 21st Century There are two schools of thought regarding the composition of a competitive strategy. The first is resourced based. This approach identifies key resources and seeks to leverage these in order to provide value to the consumer and achieve a competitive advantage in the marketplace. The next strategy begins with identifying a niche or
For example, someone interested in green technology from a cost perspective might value operational excellence in a company -- seeking the lowest price replacement windows in the least amount of time with the least amount of disruption to their family. Someone interested in the greenest home possible may be interested in innovation, and still others might be attracted to the idea of a custom-built home. Just as there is
" (Moon) good example of breakaway product success can be seen by the popular online auction site called eBay. The site has the unique distinction of selling both new and used products but also has the distinction of being the biggest yard sale in the world. This site literally left the category of simple auction house and become a combination of many of the features of auctions, whole sale distribution
Walt Disney's Marketing Mix/Strategies Product and Service Strategy The products offered by Walt Disney are much more tangible and services. These products have offered Walt Disney high awareness among many customers in the market. The products are designed to meet the specific needs and preferences of the customers in the diverse market. Walt Disney has gone ahead to customize all of its products under certain characteristics of the company. These characteristics help
Positioning and Brand Loyalty: Sports events usually include activities like conferences, fundraising, exhibitions, promotions, product launches, social events, and others. During such events, event organizers have several responsibilities including developing event sponsorships, budget organization, collateral management, marketing, and venue management. The marketing of sports products requires employees to have a link with customers and other sports audiences. In order to increase a product's performance in the sports industry, there is need