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Banyan Tree Marketing Principle design and application Report

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Banyan+tree+hotels+and+resorts Individual

  1. 1. 1 Table of Contents Executive summary......................................................................................................................... 2 1) Introduction ............................................................................................................................. 2 2) Main factors that leads to Banyan Tree’s success ................................................................... 3 2.1 The choices of target segment............................................................................................... 3 2.2 The positioning and branding strategy.................................................................................. 4 2.3 Products and services - design and delivery ......................................................................... 4 2.4 Employee empowerment....................................................................................................... 5 2.5 The support of local communities and public interest groups .............................................. 5 3) Banyan Tree’s brand positioning and communication strategies ............................................ 6 4) Brand Portfolio of Banyan Tree and recommendations .......................................................... 7 5) Practice of CSR on brand equity ............................................................................................. 8 5.1: Preserving the Environment................................................................................................. 8 5.2: Brand ownership among employees .................................................................................... 9 5.3: Persuading the guests to get involved in environmental conversation ................................ 9 5.4: Getting involved in the local community .......................................................................... 10 Conclusion .................................................................................................................................... 10 References..................................................................................................................................... 11
  2. 2. 2 Executive summary This assignment is about Banyan Tree. In this report, I have answered four questions based on the case study given regarding on the company, its unique positioning and how will it sustain in years to come. 1) Introduction Banyan Tree Holdings Limited is an international hospitality brand that manages and develops resorts, hotels and spas in Asia, America, Africa and Middle East. The company is founded by 66-year-oldSingaporean businessman, Mr Ho Kwon Ping in the year 1994 and the headquarters is located in Singapore.
  3. 3. 3 2) Main factors that leads to Banyan Tree’s success The 5 main factors that leads to Banyan Tree’s success are:  The choices of target segment  The positioning and branding strategy  Products and services - design and delivery  Internal marketing  The support of local communities and interest groups 2.1 The choices of targetsegment Mr Hoachieve that target segment goal that brings the industry a huge gap in price bycreating a brand new type of luxurious hotel and resort for targeting first-class consumers. Which means that wealthy customers must pay higher price to live in more luxurious resorts.(Roll, 2018) He perceived that the business opportunity introduced by the gap in the resorts advertise which he has a superior opportunity to oblige centre privileged purchasers who would be wise to spending power than the normal customer in the mass market and would have the capacity to stand to pay for more selective premium services. (Roll, 2018) Since these days we live in a more upsetting way of life, numerous couples like us would acknowledge Banyan Tree's offer to have a critical, sentimental occasion encounter that would give unwinding and make quality time for them to spend calm minutes together (Shen, 2015)
  4. 4. 4 2.2 The positioning and branding strategy When Banyan Tree’s first launched their services, many customers found it unique but they cannot sustain in competitive advantage because most physical products could be easily copied by the other competitors, for example: Hilton Hotels and Resorts, Park Royal and others. Banyan Tree can drive away from competitors by establishing a strong service brand.(Wirtz, ThinkBusiness, 2015) Many couples value it’s attributes since the positioning of the company itself is a sanctuary of romance and intimacy. They promise to provide a clearer brand of romance and intimacy so that they can help themselves to achieve distinctive market position. (Wirtz, ThinkBusiness, 2015) 2.3 Productsand services - design and delivery The rich settings of the estates take into account visitors to make paramount occasion encounters. The workers were warm, true and conscious as they generally knew their visitor's names and recalled their inclinations each season of their visit. (Wirtz, 2011) These sorts of services helped them to feel more comfortable and relaxing which adds to the whole client experience. This was additionally improved by the visitors who feel great that added to different social and natural causes. (Shen, 2015) Rehash support was additionally energized by the distinction administrations in light of various areas, which gave visitors an additional inspiration to visit Banyan Tree resorts and to encounter into different groups. Workers have a routine with regards to given the opportunity to design the estates and serving visitors with imaginative advancements which kept the Banyan Tree encounter new and fascinating. (Shen, 2015) The entire experience was intended to give visitors a unique value proposition and they had successfully set apart from different resorts in the market since it's highlights on their services was hard to be taken after or duplicated effortlessly by alternate competitors. (Roll, 2018)
  5. 5. 5 Customers who are satisfied with their stay had become loyal customers but at the same time, the company also gained new customers by spreading positive word-of-mouth.(Roll, 2018) 2.4 Employee empowerment The staffs who are generous created a powerful sense of name possession among staff, that motivated them to attain service excellence. (Shen, 2015) Service staff served guests with passion and sincerity that would not be simply traced by competitors. Employees might not continuously offer the quality service across all the resorts that ordinarily found in five-star hotels in developed countries, their friendly and respectful attitudes. (Shen, 2015) 2.5 The supportof local communities and public interest groups The organization's make interests in advancing the social, social and regular habitat past what was expected of the organization morals that were driven by the administration's close to home estimations. The Banyan Tree mark as being minding and earnest, predictable with its situating of a sentimental brand. In general, Banyan Tree was seen by visitors, staff, nearby groups, and open intrigue bunches as a warm, earnest, mindful, moral, and capable organization. (Shen, 2015) At the point when visitors visit the resorts' mixes, they have the fair sentiments of friendliness and gratefulness being appeared by the nearby groups at the towns made visitors felt like home.(Shen, 2015)
  6. 6. 6 3) Banyan Tree’s brand positioning and communication strategies The company itself is a vacation destination that provides couples a romantic vacation expertise. They aim the couples who has nerve-racking manner wherever they're busy with their daily operating routines and outlay less time with one another. (Roll, 2018) The company advertises themselves to create awareness within the market and therefore the entire whole communications strategy has been centred chiefly on verbal communication, which incorporates of: public relations (PR), promotional material and website marketing.(Roll, 2018) In the early years, they used a world promoting workplace to form their showcasing correspondences. Broad advertising was likewise being used to select up acknowledgment once Banyan Tree was first propelled.(Roll, 2018) They utilize advertising as a necessary whole building strategy, and its editors and essayists of the highest of the road travel magazines have the profit to go to the resorts. Banyan Tre do make sure that they take superb images that is then used by media to ensure that the resorts square measure delineated in accordance with the whole guarantee. (Wirtz, ThinkBusiness, 2015) The results of the company’s investment in sponsoring numerous environmental conservation programs and community reach curriculums because of much positive promotional material and public interest from the customers. Whether they will maintain its distinctive within the market depends on however well it will keep its identity from their competitors. Banyan Tree tried to request to “the senses,” specializing in the client expertise and dealing on what the client can bring back their home memories. (Wirtz, 2011)
  7. 7. 7 4) Brand Portfolio of Banyan Tree and recommendations The whole portfolio of Banyan Tree and colours of Angsana’s town hotels, spas, galleries, and museum retailers match as a family as a result of all of them are in one package as these properties were in one centre theme known as ‘The romance of travel and the beauty of discovering the world”. Their merchandise and services may be classified into four product lines underneath numerous brands and sub-brands. (Roll, 2018) The successful gap of the Banyan Tree resort in Phuket opened in 1994, the corporate determined to distinctively whole its Spa and Gallery experiences, as Banyan Tree Spa and Banyan Tree Gallery severally. Today, nearly each property includes a Spa. (Roll, 2018) Later on, they launched another new extension called theColours of Angsana, a sister chain of resorts underneath the Angsana in the year 2003. The hotels were launched in additional remote areas of the planet together with UNESCO’s World Heritage sites andlocated in popular travelling destinations like Laos, country and China. (Roll, 2018) Angsana were designed to bring back the journey into travel no matter one’s age. As of Jan 2018, Angsana operates fourteen resorts in nine countries.(Roll, 2018) Recommendations for the long run may additionally considering to alter market styles and whether or not the brands and merchandise would still be relevant as new merchandise betting on the change of client taste. (Wirtz, ThinkBusiness, 2015)
  8. 8. 8 5) Practice of CSR on brand equity CSR may be a corporation’s initiatives to assess and take responsibility for the company’s effects of environmental and social welfare. Since the founding of Banyan Tree in the year 1994, Corporate Social Responsibility is a core value of their business strategy to create pride and respect among the staffs. (Roll, 2018) For the stakeholders, it’s a win-win strategy since Banyan Tree Resorts have good quality service as they feel satisfied of doing business with them knowing that the company contributed back to the environment and community. (Wirtz, 2011) 5.1: Preserving the Environment The CSR department use resources sustainably that they manage their water consumption through reducing water wastage throughout treatments and carbon prints. Resorts were designed using native materials and minimizing the impact on the surroundings in addition. (Wirtz, 2011) Banyan Tree Gallery invariably use eco-friendly materials which is recycled by the employees. For instance, photo frames created using unwanted telephone directories, and unleaded celadon and spa amenities. The galleries didn't manufacture product being made of animals. (Wirtz, 2011)
  9. 9. 9 5.2: Brand ownership among employees All of the resort staffs have to greet the guests by always remembering their first names, and satisfying their needs by being trained to of the 5 star hotel services fundamentals. As the part of their training, they also got to understand the concept of the “Banyan Tree Experience”. The management believed that this coaching would help the staffs to perceive higher what guests can enhance their special experiences being delivered from them.(Erying, 2015) Even though the management obligatory strict rules within the admindepartment of the resorts, the employees were allowed to train their own abilities. (Erying, 2015) 5.3: Persuading theguests to get involved in environmentalconversation Part of the company’s CSR encouraged the customers of the environmental conservation and facilitate ecological restoration. To form larger awareness, Banyan Tree has organized activities for the customers who have an interest to be concerned in their environmental preservation work. For example, they were invited to participate the coral transplantation program in the Maldives. (Erying, 2015) After they participated the program, they were then inspired to come back a couple of years later to visualize the progress of their efforts. They can attend free marine biology sessions to permit them to find out a lot of concerning of their lifetime and its preservation provided by the company itself. Guests additionally had the chance to get to know of the inexperienced marine turtle. The company has received positive responses and feedbacks from them. (Erying, 2015)
  10. 10. 10 5.4: Getting involved in the local community Native artist supplies original art and handicrafts which is purchasable at its galleries and at the same time, they did concern about their local customers in the aspects of its business. Villas were made with the maximum amount materials principally provided by native traders. (Erying, 2015) Traditional arts and handicrafts that accompanied the villas’ beauty were also purchased from native artisans. The firm believed that by building profitable resorts, it'd profit the encompassing atmosphere and also to contribute to native economies through the creation of employment and community development comes. (Erying, 2015) Conclusion In my own opinion, Banyan Tree will be able to expand its hotels and resorts in the Western Countries since many married couples love travelling and celebrate their wedding and honeymoon and also at the same time, they want to have to create unforgettable memories for their marriage.
  11. 11. 11 References Erying, A. (2015). Driving growth in sustainable tourism: The Banyan Tree story. Retrieved from http://thinkbusiness.nus.edu/article/driving-growth-the-banyan-tree/ Roll, M. (January, 2018). Martin Roll Business & Brand Leadership. Retrieved from Banyan Tree – Branded Paradise From Asia: https://martinroll.com/resources/articles/asia/banyan-tree-business-brand-strategy/ Shen, H. (2015). International Journal of Marketing Studies. Critical Success Factors for Leading Hotel Brands in Asia: A Case Study of Banyan Tree, 1-26. Wirtz, J. (2011). The Banyan Tree: branding the intangible, 1-12. Retrieved from http://www.emeraldinsight.com/doi/abs/10.1108/20450621111110474 Wirtz, J. (1 March, 2015). ThinkBusiness. Retrieved from Case study: Behind the Banyan Tree: http://thinkbusiness.nus.edu/article/case-study-behind-the-banyan-tree/

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