There are many people in the world who just loves to travel......just like me ...!!! actually when it comes to travelling we all want to make memories and those journey not only memorable but also the best......the best thing comes from .........good services which our hotel provides to us so that we can get stressfree and relieved journey.......
Marriott international is one such hotel which is luxurious and comes in the list of the best ones and I am sharing marketing mix of Marriott international hotel also few facts also....... continue reading....
The hotel franchise operates more than 6,900 properties in 130 countries and territories including brands like the Ritz-Carlton, Renaissance Hotels, and Fairfield Inn & Suites.
Marriott International is now the largest hotel chain in the world in terms of revenue. Its closest competitor Hilton Worldwide was ranked as the second largest chain, accounting for less than half the revenue of Marriott. That being said, Hilton Worldwide has received a higher American Customer Satisfaction Index score than Marriott in the years since the aquisition of Starwood Hotels and Resorts.
About Marriott international:
Marriott International is an American multinational diversified hospitality company that manages and franchises a broad portfolio of hotels and related lodging facilities.
Founded by J. Willard Marriott, the company is now led by his son, Executive Chairman Bill Marriott, and President and Chief Executive Officer Arne Sorenson. Marriott International is the largest hotel chain in the world.
It has 30 brands with 7,003 properties in 131 countries and territories around the world, over 1,332,826 rooms (as of March 31, 2019), including 2,035 that are managed with 559,569 rooms, 4,905 that are franchised or licensed with 756,156 rooms, and 63 that are owned or leased with 17,101 rooms,plus an additional 475,000 rooms in the development pipeline and an additional 25,000 rooms approved for development but not yet under signed contracts.
It is headquartered in Bethesda, Maryland, in the Washington, D.C. metropolitan area.In 2017, Marriott was ranked #33 on Fortune's "100 Best Companies to Work For" list, its twentieth appearance on the list.
Marketing mix of Marriott International:
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Marketing mix of Marriott International:
Product:
Marriott is one of the most recognized luxury hotel chains in the world. For Marriott the core product in its marketing mix is in the form of hospitality services.
It divides its services mainly in the 3 parts: core, actual and augmented which comprises of different services like Hotels, Hospitability management, Resorts, lodgings etc. Among all of these the maximum revenue is generated by their core product i.e. hotels which all the way depends on how to satisfy customers’ needs and wants.
Among the hotel as a product it is further subcategorized into different brands such The Ritz-Carlton, St. Regis, JW Marriott, BULGARI, Le MERIDIEN, Westin, Renaissance hotels, Gaylord hotels, Courtyard hotels, Fourpoints, Spring hill suites etc. Each brand is unique in its own style and theme which makes it recognizable in comparison to other.
More or less Marriott has almost same concept for all the brands but they used the same concept with the location, environment and according to convenience of customers which made Marriott so successful all across the world.
Price:
In terms of price Marriott’s hotels price varies with different hotels, customers and location. Their prime motive is to deliver the right product at the right price. Marriott determines the prices of their hotels by keeping the value with quality framework satisfied and also the pricing strategy is maintained in such a way that without losing their brand name Marriott is able to maximize their revenue. Hotels prices also varies on the customer demand and also to maintain the cost incurred in promotion and maintenance. Marriott products price also follows a competitive strategy that their prices also varies according to the change in the situation and competitor’s behaviour.
Place:
Marriott has established itself in more than 120 countries all across the world and its hotels are also located in various places across the city like near airport, highways, near central market etc.
Being location specific give Marriott an advantage to attract customers like the business people will be acquiring hotel near airport while the travelers will love to do night stay in hotels near highways and tourists in the city near market so that it is easily accessible.
For the growth of its hotels Marriott has also adopted a mix channel strategy which consist of both direct channel and third party channel. This enhances the speed in maintaining the inventory across the different infrastructure and reducing the overall costs.
Generally in choosing a distribution strategy looks for parameters like maximizing revenue, maintaining consistent growth, delivering adequate services to customers at the correct price which is worth the value and also operates profit.
Promotion:
Marriott totally focuses on the digital promotion of their products. Being an international brand they has created a website which clearly showcase all of their products in a very good detailed manner and also allows users to pre-book the rooms in hotels with easy procedure. It do its promotion with different advertisement, videos and campaigns on different social media sites. Marriott tries to maintain its loyal customers by coming up with different promotional schemes and also attract new customers with the marketing of new products.
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