Draw economic graph in word doc

Marriot Company

GB 214 Section XXX – Team No. XX

Team Members

Analysis of the Market

The Marriott Company focuses on offering hospitality services. The company targets travelers and tourists. The company is trying to reach people who want to find nice restrooms, meeting rooms, restaurants, some athletic facilities, and upscale amenities. These people are in need of a comfortable area at an affordable and cost friendly free that is equitable to the quality of services and products offered. These customers are seeking not only a quiet but also a luxurious area where they can spend their time (Chatfield, 2018). Most of the customers are middle-aged whereby most of them are in their 30s. These people have an averagely high income and they like traveling for business purposes. Based on all these features their customers can be characterized as sophisticated, self-defined and individualistic. In addition to this, the company targets people who desire to obtain standard catering services and cuisine that it offers in the hotel.

To meet the demands of their customers, the company has tailored their hotel into brands whereby brand names are a representative of the customers in a segmented market. The company also targets people who require having a longer stay in the hotel through the provision of residence inns. These people often want residence inns because they have relocated their jobs, have a contractor they have found new jobs. The Town place Suits target customers who have the same needs as those of residence needs but they are willing to pay a lower cost (Lee & HowS, 2018). The Springhill suites target people who desire to have an all-suites hotel. These customers are often willing to pay an upper moderate price. These brands of the hotel offer indoor pools, access to the internet and a room where people can do their exercises. The company majorly focuses on individuals in the tourist attraction sites and travel destinations.

Positioning

This is how consumers perceive the product that the Marriott Company offers in relation and comparison to other competitors. The Marriott Company is positioned as a leader company in the hospitality industry. As the company serves travelers and tourists, the hotel brands are positioned depending on the various demands of the various locations and sites. It is on this basis that most of the Marriott Hotels are located near most tourist attraction sites. Marriott segments its target markets. Thus, the target consumers are always provided with the required services and hotel brands are positioned depending on the features of the various market segments. Whenever a business meeting is held and being planned for, either professionals or business people are being targeted. The hotel curtains its services to meet the requirements of the business meetings.

Through the Multidimensional Scaling Techniques, customer ratings on the company’s products and hotel brands offer the best services. They rate the hotel services, the availability of a number of brands in various locations, the offering of value-based services and the general convenience as high quality. Some of the attributes that customers consider when making a purchase of commodities and services from the hospitality industry include the brand name, the placement of the product, reputation, packaging, and pricing (Malhotra, 2015). The Marriott brand name creates an image of a comfortable place, and it sounds pleasing to the customer’s thus influencing the high positioning of the company. On online sales, Marriott has placed its products on the first page of the search bar as well as most of its products have been given a five-star rating. On offering products and services, they package their products neatly with their brand name inculcated in the package. Marriott has a very good reputation whereby most people who talk about the commodities have a positive word to say about it. Lastly, the prices the company offers for it services are affordable and they march their quality. Thus, the company is highly positioned in the hospitality industry.

References

Chatfield, C. (2018). Introduction to multivariate analysis. Routledge.

Lee, C. G., & How, S. M. (2018). Long-run causality between customer satisfaction and

financial performance: the case of Marriott. Current Issues in Tourism, 1-6.

Malhotra, N. K. (2015). Essentials of marketing research: A hands-on orientation. Essex:

Pearson.