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Marketing Group Project: Marriott International Inc.
Transcript of Marketing Group Project: Marriott International Inc.
2011- Travel Weekly - readers named Marriott International Best Sales & Service and Best US Hotel Chain.
2012 - The Ritz-Carlton Hotel Company, L.L.C. was the proud recipient of a Condé Nast Traveler World Savers Award as the winner in the large hotel chain category. Introduction Marriott International Inc., founded by J. Willard Marriott in 1927, has established their brand on an international level. Through their efforts, Marriott has become a strong player within the lodging industry. Through this project, we will learn vital information about the corporation, discover the marketing strategies behind this worldwide success, and also examine which areas Marriott still has to improve upon. Core Product Strategies Business Goals Conclusion Bailey Hudson
Stephanie Hoffman Marriott International Inc. General Pricing Strategies Market Segmentation BCG Matrix Distribution Strategies SWOT Analysis
Lodging industry growing rapidly on global scale, stagnated on domestic scale General Info General Info Mission /Vision Brady Recent News 1. Lower taxes on individuals and corporations.
2. Reduce government spending.
3. Reduce economic policy uncertainty. If business
cannot reasonably predict future policy, they may
hold off making large investments and consumers
may hold off making large purchases.
4. Execute more free trade agreements so we can see
more American products around the world.
5. Provide for a sound and stable dollar so people will
invest with confidence in the good old USA. -Extended Stay
-Iconic Luxury Promotion and Advertising
Branding Loyalty Building Strategies "To be the #1 hospitality company in the world" Obtain a relationship with new generation travelers
Maintain a portfolio containing a multitude of distinct brands
Having a broad portfolio of hotels
Leader in technological innovation
Be the preferred choice for hotel owners
Continue with growth internationally Ultimately, one can applaud Marriott’s marketing strategies for being able to accurately attract the markets for which they are striving; however, it should be noted that the lodging industry can never truly be conquered, and therefore, Marriott must continue to look for new markets and new ways to distinguish themselves from their competition. 1927- John Willard's first A&W root beer stand was opened in Washington D.C.
1957- Marriott's first hotel opened, the Twin Bridges Marriott Motor Hotel in Arlington, Virginia.
1968- MAR was listed on the New York Stock Exchange in.
1972- Bill Marriott was named CEO of the Company.
Currently Marriott has approximately 300,000 employees at more than 3,700 (643,196 rooms) lodging properties in 74 countries and territories. The distribution strategies used by Marriott differ between their various brands. -printed publications
-promotions and savings opportunities
-member loyalty points
-email coupons and promotions
Marriott uses Demographic Segmentation, meaning that groups based on age, gender, marital status, income, occupation, education, religion, and race characterize their market. Target Market •Business travelers
•Weddings The Ritz-Carlton Residences, JW Marriott Residences, Marriott Residences Competitors •Intercontinental Hotels: (Holiday Inn, Staybridge, Candlewood etc.)
•Hilton Worldwide (Waldorf Astoria, Hilton, Hampton, Doubletree, Embassy etc.)
•Starwood (Sheraton, Westin, Four Points etc.) “Marriott®'s Sales and Marketing strategy generates strong brand preference and RevPAR premiums through four key differentiators:
1. The Strongest and Most Cost-Effective Distribution Systems
2. Strong Customer Knowledge and Relationships
3. Innovative Strategies and Programs
4. The Industry's Most Preferred Loyalty Program 1. Silver Benefits- 10 nights
2. Gold Benefits- 50 nights
3. Platinum Benefits- 75 nights Geographic segmentation may also be used in certain locations, like that of the Ritz-Carlton. Demographic Segmentation Geographic Segmentation Marriott Operates and Franchises Marriott, JW Marriott, The Ritz-Carlton, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites, Bulgari Develops and Operates Marriott Vacation Club, The Ritz-Carlton Destination Club, Grand Residences by Marriott Licenses and Manages Marriott also operates Marriott Executive Apartments. Selective Distribution Selective Distribution is used by the Mid scale brands, such as Marriott hotels and resorts, and the lower scale brands, such as Courtyard by Marriott and Residence Inn. Exclusive Distribution is used by the luxury brands of Marriott, such as The Ritz-Carlton. Exclusive Distribution •Further reduce energy and water consumption by 20% by 2020.
•Empower hotel development partners to build green hotels.
•Green the multi-billion dollar supply chain.
•Educate and inspire associates and guests to conserve and preserve
•Address environmental challenges through innovative conservation initiatives including rainforest protection and water conservation •Recycled key card
•Coreless toilet paper
•Increase in the use of recycled paper products Strengths Weaknesses -Domestic focus
-Lack of "value" brand Opportunities -Emerging markets (Asia-Pacific)
-Individualized customer experiences
-Technological innovations Threats -Intense competition
-Potential issues with unions
-Timeshare business vulnerable -Eco-tourism trendsetter
-Wide range of brands (timeshare, extended stay, etc.)
-High brand recognition
-Global presence Fragmented Industry no one player owns more than 20% Positioning Marriott lies between a "Star" and a "Question Mark." Marriott is also struggling between high and low market growth (domestic vs. global). Hurricane Sandy's Effects on Marriott "Spirit to serve"
Nearly 10,000 employees lived in the hard hit areas of New Jersey and New York
$250,000 in immediate relief from American Red Cross
$250,000 pledged for longer-term recovery
customers and associates mobilized in the effort Recent News Marriott Purchases Gaylord Purchased for $210,000,000
Management rights to four hotels:
1) Gaylord Opryland Resort and Convention Center (Nashville, TN)
2) Gaylord Texan Resort and Convention Center (Grapevine, TX)
3) Gaylord Palms Resort and Convention Center (Orlando, FL)
4) Gaylord National Resort and Convention Center (Washington D.C.) Marriott Rewards is a completely free program that provides you with three levels of perks when you choose to stay with Marriott. It also offers you a choice of frequent flyer miles, or points which can be used towards free vacations. Perks are given before, during and after your stay, and are more extravagant as your number of night stays rises. Bill Marriott’s five ways to reach the growth target of 4% of GDP Environmental Conservation